Talent Management – Only people make the difference
Today human talent has assumed the position of most-prized assets and resources. Therefore, recruiting, grooming, rewarding and retaining great employees have become a mission-critical necessity for service provider organizations across the board internationally. This is known as Talent management.Talent management has a direct impact on profitability, customer satisfaction, innovation and new product development.Worldwide executives identify talent management as the number one or number two top priorities for their organizations. Talent managers need to meet this need by developing their expertise to create a competitive advantage for their organization. When companies are being valued on the basis of the quality of human talents they have and business is being won or lost because of employees, there sure is a need to have systems, processes, and practices in place that make companies “nurseries and breeders of great performers” and to becoming “great places to thrive” for their employees.
Talent management also implies recognising a person's inherent skills, traits, personality and offering him a matching job. Every person has a unique talent that suits a particular job profile and any other position will cause discomfort. It is the job of the Management, particularly the HR Department, to place candidates with prudence and caution.
The necessary function of Talent management includes:
• Key Functions of A Talent Management Toolset
• Assessment (Ongoing)
• Business Objective Orientation (Task Relevance)
• Performance Appraisal / Review
• Talent Requirements
• Talent Pool Development and Management(Referrals, Direct Marketing, Sourcing)
• Recruiting
• Internal Rotation / Transfer Management
• Succession Planning
• Leadership Development
Talent management is the strategy through which Organizations become unique because they know that exceptional business is driven only by superior talent. Talent management is the new HR tool.
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