TALENT MANAGEMENT

                       TALENT MANAGEMENT

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Introduction

Employees in organizations always look for career development, job security, satisfaction & the welfare offered by the organization. If they feel that they are not received those, then they tent to leave the Organization. The success of an organization depends on the performance of human resource. Maintain a skilled & talented people drive the organization to success. Especially managing talent is vital in a dynamic competitive market to retain in the business. Talent management is a process which includes various activities which identify key areas need to expertise, develop existing employees or to hire potential candidates, sharpening skills and retain employees in the organization to thrive in the contemporary global market.  

Definitions

"The Systematic attraction, development & development of individuals who are of particular value to the organization, either because of they fulfil critical roles or they possess high future potential (CIPD, 2015)"

"Talent management is the use of an integrated set of activities to ensure that the organization attracts, retains, motivates and develops the talented people it needs now and in the future (Armstrong, 2006)"

“Talent management contains strategies and protocols for the systematic attraction, identification, development, retention and deployment of individuals with high potential who are of particular value to an organization (Tansley & Tietez, 2013)”

"Talent management is the process of ensuring that the organization has the talented people it needs to attain it's business goals (Armstrong, 2014.)"

Above definitions explain the nature of talent management according to existing to the literature. Business needs to sustain in the dynamic business world & need to overcome the challenges and need to take competitive advantages as much as possible by improving the employees with knowledge, talent & skills in each of organizational levels.

Companies with effective talent management are more effective, innovative & successful. As a result, such companies earn more than peers. Talent management is the starting point for any organization to achieve determined business goals because talent management strategies are based on pre-determined business goals.

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Process of Talent Management

To ensure expected talent pool, first organizations need to identify the pivotal positions and then need to choose the most suitable candidates within the organization & from outside. Selected people need to send through training, development & motivational process to reach determined organizational aspects. While doing the developing process, need to improve & monitor the employee commitment towards the organization. Talent management is a continuous process hence maintaining continuous talent management practice in the organization increases the performance of the organization.

As per the existing literature talent Management consists of 4 major steps as follow,

1.      Identifying Talent needs

Talent management is based on future business goals. To accomplish the pre-determined goals organization need to acquire new talent or need to develop existing. The very first step is identifying the required talent, skills & prospective leadership to the required amount of people.

2.      Identifying the existing gaps

The Organization needs to go through the internally and check whether there are potential people for expected talent and for the new leadership and need to check the gap between existing and the required level.

3.       Designing, recruiting & hiring plans

As the third step, hiring the most suitable people with the right skills to fill the existing gaps and for new positions can be identified.

4.      Develop internal plans & retaining  

As the last step, the Organization need to do talent reviews & succession plan processing to make new leaders step up to new roles or to lead existing teams.

Conclusion

According to the existing literature & the practice,  Talent Management takes a vital place in organizations. Talent is a major corporate resource for any organization. Effectively managing that resource brings more revenue & lead the organization to the top among peers. 


References 

Amstrong, M., 2012. Armstrong's Handbook of Human Resource Management. 12th ed. London: Kogan Page.

Armstrong, M., 2014. A Hand-Book of Human Resource Management Practice. 13 ed. London: Kogan Page.

Mellahi, C. &., 2009. Strategic talent management: A review and research agenda. Human Resource Management Review.

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