To answer that question, I'd have to know your definition of talent management.  I'd like to think that many of our tribe are skilled and progressive enough to handle the transformation, but I'd have to agree that our bench is not as deep as it should be. 

New opinion on this topic, from Wally Bock at Three Star Leadership:

"Management Issues just ran a piece titled: "Don't trust HR to manage your talent." There's a lot of good stuff in this post which reports on a survey by Deloitte and leads with the following.

"When it comes to talent management, three quarters of firms obediently listen to HR and put all their time and effort into grooming their top performers. But if they are going to have any hope of coping with the twin challenges of an aging workforce and a new generation of workers with different priorities, they are going to have to change tack - and fast."

There are three parts to this. All are worth your attention."

Click through to get Wally's analysis, which is pretty spot on.