Talent management is a process of anticipating the need for
human capital and then setting out a plan to achieve the same. The process starts
from identifying high potential individuals who are valued to organizations.
Then develop them to deliver future expectation of the organization whist engaging
them in the process to retain in organization
Importance of talent management to an organization
Talent management is the best tool to win the war for talent.
“War for talent “defines the competition HR professionals in organizations
faces when trying to fill many open positions with limited high-quality candidates.
Thus, hiring has become expensive and lengthy procedure.
In order to attract and retain top performance in the
organization there should be a proper talent management strategy. Otherwise, company
will end up losing its best employees.
If the organization has a proper talent management process, which
will help employees to grow their self’s to higher positions of the
organization and it will reduce unnecessary cost occur from high employee turnover
as well as company can save cost of hiring and training new ones
Talent management model
Top 5 work force challenges that
can be addressed from proper talent management strategy
1.0
Attracting and retaining top skilled professionals.
2.0
Development of managerial skills of potential employees.
3.0
Retain high performance in the organization.
4.0
Developing and maintaining better succession
plan.
5.0
Immediate replacements for vacant managerial positions
with appropriate talents
Responsibility of talent management
The responsibility starts with Human resource department.
But Directors, all department heads and senior managements should be on board
with the talent management process to achieve ultimate goals of the organization.
However depending on the size of the business there can different designations,
committees or units to overlook the talent management process
Talent management benefits both employee and employer.
Employee can develop their capabilities to achieve their carrier goals whilst
delivering best service to organization to achieve their business goals. Every organization
should prioritize and concentrate more to find out better approaches in terms
of Talent management .
References
Works Cited
Brooks, A., 2019. Rasmussen University. [Online]
Available at: https://www.rasmussen.edu/degrees/business/blog/what-is-talent-management/
[Accessed 06 08 2021].
Hewitts Human
capital consulting, 2008. The state of talent Management, United
states: Human capital institute.
Momtazian,
M., 2020. Expert 360. [Online]
Available at: https://expert360.com/resources/articles/talent-management-important
[Accessed 06 August 2021].
Talent management is the full scope of HR processes to attract, onboard, develop, motivate, and retain high-performing employees. Talent management is aimed at improving business performance through practices that make employees more productive.
ReplyDeleteIn a nutshell, talent management is critical for any business looking to build a productive team. It investigates the overall development of the organization. With new job opportunities on the surface, developing employee potential inside the company is critical for the company's profitability and long-term viability. Employees leave an organization when their job becomes tedious or when learning activities cease. Talent management emphasizes job rotation and encourages employees to learn new skills in response to market demand. It keeps them engaged, motivates them, and boosts employee loyalty. Through your post, you have nicely explained the importance of Talent management.
ReplyDeleteAppreciate your work Tharindu
Hi Tharindu. Talent management helps employees feel involved, trained, and motivated, letting them work in the direction of the company's business goals, which in turn, increases customer satisfaction and business performance.
ReplyDeleteTalent Management is an artwork or technological know-how used to improve commercial enterprise values and to make organizations and enterprises to reap their desires via using strategic human aid making plans. expertise management analysis of an employee manner, performance and capacity are the most important regions to be evaluated.
ReplyDeleteTalent management practices have changed over the years to provide more personalized styles like all the other aspects of the HR profession. Strategic talent management is a necessity in today’s highly changing environment, and global trends in talent and human resource management have led to the floor to outperform the competition.
ReplyDeleteGood article.Talent management is a constant process that involves attracting and retaining high-quality employees, developing their skills, and continuously motivating them to improve their performance.The primary purpose of talent management is to create a motivated workforce who will stay with the company in the long run. The exact way to achieve this will differ from company to company.
ReplyDeleteTalent management
very simply explain Tharindu, Talent management is an ongoing process that involves attracting and retaining high-quality employees, developing their skills, and continually motivating them to improve their performance. The primary purpose of talent management is to create a motivated workforce that will stay with your company for the long term.
ReplyDeleteThe term "talent management" is more than simply a buzzword in human resources. It is also committed to attracting, managing, developing, and keeping the finest and brightest business professionals. Indeed, because it deals with one of the company's most important assets, its people, talent management is crucial to corporate strategy. As a result, in order to retain employees, firms should make an effort to properly manage them and assist them in developing their skills and capabilities.
ReplyDelete