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Talent Management

Photo credits to http://vteki.com/importance-talent-management-strategy-organizational-success/
     
Talent management is one of HR tools use by many establishments to achieve their corporate goals efficiently and effectively by strategically managing their most valued human resource. Every effort that has taken from recruit to retain, develop, reward and perform can be recognized as different aspects of the talent management.

Until 1980's HR departments focused solely on personal functions like hiring, payroll and benefits. But after established a concept called 'Strategic Human Resource'. Since then talent management has evolved over the years and developed gradually.  

Talent management strategy should be linked to organizational strategy and be implement in daily business process through out the organization as a whole to achieve common goals. This can not be isolated and identified as only a responsibility of HR department but the organization as a whole.

Reality, in some companies only the top level of hierarchy are included in the talent management system but in other companies all the employees are included in the process. 

Following can be identified as one of generally accepted talent management processes. 
  • Understanding the recruitment.
  • Sourcing the talent
  • Attract the talent
  • Recruiting the talent
  • Selecting the talent
  • Training and development
  • Retention
  • Promotion
  • Competency mapping
  • Performance appraisal
  • Career planning 
  • Succession planning
  • Exit
Talent management process is very complex and sometimes very costly, therefor very difficult to handle by.The core purpose of this entire process is to place the right talent at the right place at he right time to achieve corporate objectives ahead of competitors.

For an example, Deloitte has developed a global methodology; ' develop - develop - connect', this methodology enables companies to formulate a strategy and a policy for talent management, so the companies been able that skilled labor are actively integrated and retain in the company.

Photo credits to http://www.bumiarmada.com/App_File/Image/assets/talent_management.png
Conclusion
Since the day by day talent gap increases, talent management has become an important role for achieving corporate goals. Thus it is more important for companies to formulate a TM strategy and link that to core strategy of the company in order stand ahead of competitors.

 Reference
  • https://www.ddiworld.com/resources/library/white-papers-monographs/nine-best-practices-of-effective-talent-management
  • http://vteki.com/importance-talent-management-strategy-organizational-success/
  • https://www.cornerstoneondemand.com/talent-management-tool-successful-businesses
  • https://www.thebalance.com/what-is-talent-management-really-1919221







Comments

  1. UnknownDecember 27, 2017 at 2:30 PM

    Excellent writing.

    ReplyDelete
  2. UnknownJanuary 1, 2018 at 10:17 PM

    As usual you essays are excellent but you dont include in-text references and Harvard Style referencing additionally please avoid web based references as they are not necessarily credible

    ReplyDelete

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