Talent Management

Talent management is the standard process of discovering the unoccupied positions and recruiting the suitable personnel and then improve their skills to become suitable to the position and retaining them to achieve the objectives.

“Ensure the right person in the right job at the right time” (Jackson & Schuler, 1990).

“Talent management involves managing the supply, demand and flow of talent through the human capital engine” (Schweyer, 2004).

“Talent management is comprised of a collection of typical human resource department practices such as recruiting, selection, development and career and succession management” (Lewis & Heckman, 2006).

Source (American Incite)

Importance of Talent Management

In organizations, talent management is considered as the most important and an unavoidable element. An organization can have the best infrastructure and technology with them but it is almost impossible to achieve their goals without talented people, since the talented employees are the ones who have the ability to take the organization to the next level.

“Talent management is integral to engaging employees in the organization” (Morton, 2005).

Benefits of talent management for the organization

- Efficient and effective performance.

- Finding best talent and retaining them with the organization.

- Strengthening the organization by building strong and talented human capital.

- Succeed in market competition and build up good reputation for the organization.

- Continuous improvement for better decision making and to achieving the goals.

Benefits of talent management for the employees

- Job satisfaction by creating positive working environment and employee motivation

- Training and development will result in improving knowledge and skills

- Recognition and rewards will increase employees’ confident level

Importance of Improving Talent Management

In modern world, there is a real concern about lack of readily available potential talent in the market and its effect on achieving strategic goals of an organization. Hence, in the present changing condition it is vital to improve the talent management.

Use of talent management tools

Today, most of the businesses are using more than one tool to manage talent such as, branch level review, line manager appraisal and HR department evaluation. Having wide range of tools, decreases data quality and makes it even more complicated which produces negative impact in final reporting. This also results in employee unsatisfactory. To improve this process and to overcome these issues integrated process should be introduced. E.g.: System based performance review process.

Outsourcing

Many organizations combine talent management with HR which is an overloaded task and reduce the efficiency of managing talent. Therefore, automating and outsourcing tasks need to be considered to enable HR to focus more on talent management. 

References

(n.d.). Retrieved 08 16, 2019, from American Incite: http://www.americanincite.com/talent-life-cycle/

Jackson, S. E., & Schuler, R. S. (1990). Human resource planning: Challenges for industrial/organizational psychologists. United state of America: American Psychologist.

Lewis, R. E., & Heckman, R. J. (2006). Talent Management: A critical review (Vol. 16). Elsevier.

Morton, L. (2005). Talent Management Value Imperatives: Strategies for Successful Execution, Resrarch Report. Conference Board.

Schweyer, A. (2004). Talent management systems: Best practices in technology solutions for recruitment, retention, and workforce planning. Canada: Wiley.