What is Talent Management
This is referred to as a systematic identification, expansion, positioning and retaining of individuals who are very valuable to the organization. Talent is something that an individual possesses that can make a difference to the organizational performance by contributing towards the goals and objectives of the organization. The companies know that they need talent in order to reach attain their objectives to survive in the competitive market.
The Key Elements for an Effective Talent Management are as Below :-
- Clearly understanding the firm’s existing and upcoming strategies.
- Identify those main gaps between the talent you have and the talent that is required to be hired.
- Design a talent management plan that covers the gaps and also that integrates with the business plans.
- Perfect Hiring Decisions
The Process of Talent Management Starts With :-
Determination of key skills required: the strategic plan of an organization must indicate this which constitutes the essential competencies that are required. This includes sourcing work force from different job portals to inducting a new employee into the organization.
Retention: this is a very important task for any organization, after all the hard work is done in getting them hired the next thing is to retain them. The organization should have a good work culture and ensure the employees a very congenial working environment so that they feel they are at home.
Development of Employees :- This is about training the employee to meet both the organizational and employees needs. This requires an organization to break down the competencies of an employee into knowledge, skills, behavior and attitude. The human resource department must recognize these competencies of the employees and create opportunities for them. Care should be taken to see that there are no gaps between the actual and desired performance.
Performance :- The next crucial thing is performance. This includes setting individual performances, an accurate job description and job responsibility will serve this purpose. Because each and every employee is accountable for his or her performance as per the two important documents mentioned above.
Transition of Employees :- High performers can be identified and can be pooled into a group for transition into specialized projects. These people can also serve the as mentors to other newly hired employees. The work or findings of these talented employees can be used in the organization process thus bringing new approaches and systems which help in continuous improvement.
Talent Management which is based on clearness and is open to all the work force will go a long way in improving and attaining the goals of the organization. Workforce is the asset of any organization and it has to management with at most care.