THE IMPORTANCE OF TALENT MANAGEMENT
The term talent management is one of the most
important buzzwords in corporate HR and top organizations. This involves in hire,
manage, develop and retain the most talented and excellent employees in the industry.
Hence talent management plays significant role in business strategy since it
manages one of the key assets in the company – the people
Discussing talent management, the term “talent” must
be clearly defined. S. Borkowska clearly defines talent as a “creative,
enterprising person with high development potential, being the lever of growth
in shareholder value” (Borkowska,2005).
As per (Pocztowski, 2008). the characteristics of talent
management are
· Leadership traits
· An entrepreneurial Attitude
· A performance oriented approach
· The ability to persuade
· Team work
· Emotional intelligence
· Flexibility
· A high tolerance to change
· Highly developed Specialist technical skills
A TALENT MANAGEMENT MODEL
CURRENT APPLICATION OF TALENT MANAGEMENT
Current monetary environment most organizations are trying to minimize the expenses and this will create an ultimate atmosphere to implement talent management system in order to optimize the performance of the employees and the organization. Selection offers are large Return On Investment while job analysis and assessment validation help to improve the predictive power of selection tools.
Current monetary environment most organizations are trying to minimize the expenses and this will create an ultimate atmosphere to implement talent management system in order to optimize the performance of the employees and the organization. Selection offers are large Return On Investment while job analysis and assessment validation help to improve the predictive power of selection tools.
TALENT REVIEW
To develop a clear talent management policy and to
enhance awareness of available talent and successors, every organization must
perform a talent review meeting in various business changes such as merges,
company expansions or decrease in talent needs. This plays a vital part in
overall talent management process as it’s analysis the performance and carrier potential
of the employees, to identify the top talents and successors of the company, to
converse the possible vacancy risk on present employees and to establish a
clear development action policy to prepare employees for future roles in the organization.
The companies which are in process of developing a talent integrating strategy
are focus on the following key areas.
1.Sourcing, attracting and recruiting and retaining
qualified employees
2.Implement training and development programs
3.Performance appraisal reports
4.Promotions
BENEFITS OF TALENT MANAGEMENT
1.Increase employee retention
2.Minimize the recruitment cost
3.Increase employee commitment to organizational goals
4.Increase level of staff engagement
5.Long term competitiveness
6.Increase productivity and profitability
7.Minimize the risk in loss of talented employees
8.Recommend the “preferred place to work” by employees
REFERENCES
Asia Pacific journal of research Volume no 2 – by Dr.M.Nishad
Nawaz
http://c2research.com/employee-research/
Borkowska, S. (2005). Zarządzanie talentami (Talent Management), Warszawa [in:] Ingram, T. (ed.). (2005 ). Zarządzanie talentami. Teoria dla praktyki zarządzania zasobami ludzkimi (Talent Management: Theory for Human Resources Management Practice). p. 14. Warszawa
Pocztowski, A. (ed.). (2008). Zarządzanie talentami w organizacji (Talent Management in Organisations)
Borkowska, S. (2005). Zarządzanie talentami (Talent Management), Warszawa [in:] Ingram, T. (ed.). (2005 ). Zarządzanie talentami. Teoria dla praktyki zarządzania zasobami ludzkimi (Talent Management: Theory for Human Resources Management Practice). p. 14. Warszawa
Pocztowski, A. (ed.). (2008). Zarządzanie talentami w organizacji (Talent Management in Organisations)
Well executed article. As you said under the "CURRENT APPLICATION OF TALENT MANAGEMENT how current monetary environment influence the talent management system in organizations, however every one should know how the strategic talent management creates the long‐term organizational success.
ReplyDeleteThanks a lot
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ReplyDeleteThanks Anu for the feedback
DeletePlease make sure to list only the cited references in the reference list. Also make sure to follow harvard reference style
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DeleteGood article on talent management Manjula, as you said current practice is to go for cost effective system on need of talent management. thanks for sharing
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ReplyDeleteWell executed article. As you said under the "CURRENT APPLICATION OF TALENT MANAGEMENT how current monetary environment influence the talent management system in organizations, however every one should know how the strategic talent management creates the long‐term organizational success.
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ReplyDelete