MN7181 People and Organizations. Talent Management. - Blog 02




Talent Management.

Talent Management refers to acquiring right people at the right time, retain them, develop them and reward people to make them well perform in an organization. It means acquiring the right ability, competency and power of employees within an organization.

Different scholars explained different definitions of Talent Management.

In the modern competitive business environment, many Organizations used to have the best talent in order to succeed in the hyper-competitive and complex global economy resulting understand the important of hire people, develop them, and retain the talented people within the organization. So they must manage talent as a critical resource to achieve the best as well as potential outcomes always (Wellin, et al., 2014).

CIPD explained that Talent Management as attraction, deployment, development, and retention of the demanded and high potential employees within an organization, who will be considered as a valuable resource for the organizational development. And also CIPD says that by managing talent in strategically, organizations are being able to build a high performance within the workplace by adding values to their branding agenda and contribute to diversity management. Because of these reasons they say that HR professionals widely consider on Talent Management process which is to be among their key significance at all the time (CIPD, 2009).

The talent management approach within a business seeks to develop, acquire, and retain talented and high potential employees. The forward-looking, improvement expecting organizations must develop an integrated approach to talent management to best harness talent. Retaining talented employees is one of the critical issues facing organizations today and the biggest challenge faced by organizations in the modern economy (Lathitha, 2012).

Organizations can achieve many benefits because of talent Management includes recruiting the right person into the right job, retaining top talent within the organization, better hiring, understanding employees better, better professional development decisions and etc...Talent Management Process includes understanding the requirement sourcing the talent, attracting the talent recruiting, talent Selecting, the talent training and development, retention, promotion competency mapping, performance appraisal, career planning, and succession planning.

Talent management starts within an organization in terms of the future demand for talented people. To achieve this organizations try to develop and maintain a pool of talented people through the talent pipeline, it consists with the processes of resourcing, career planning, and development that maintain the flow of talent required by the organization.




References:

Stephenson, E. and Pandit, A. (2008). How companies act on global trends: A McKinsey global survey (Boston: McKinsey).

Wellin, R. S., Audrey B. Smith & Scott Erke, 2014. Nine best practices for effective talent management, s.l.: Development Dimensions International

Chartered Institute of Personnel and development, 2009. Talent management: Strategy, policy, Practice. Chartered Institute of Personnel and development, London.

Lathitha, C (2012) Managing employee attrition-The HR role and challenge, International journal of research in management, economics, and commerce


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