HR InTalent Management

 

Talent Management




Talent management aims to allure, recognize, nurture, involve, retain, and allocate individuals of exceptional value to an organization. To ensure efficacy, it must harmonize with core business goals. Strategic talent management enables the creation of a high-achieving environment, cultivates a culture of continuous learning, enhances the organization's reputation as an employer, and advances diversity inclusion (Boštjančič and Slana, 2018).

Talent Management Process


Source: (Sareen and Mishra, 2016)

Planning

This entails pinpointing existing gaps in human capital needs, crafting job profiles for pivotal roles to steer sourcing and hiring decisions, and devising a comprehensive workforce strategy to drive recruitment efforts.

Attracting

This is the point where the organization's cultivated employer brand takes center stage, as it determines the caliber of applications received.

Selecting

This process entails employing a series of assessments and evaluations to identify the optimal match for the role – achieving the ideal alignment between individual and organizational compatibility.

Developing

 Nurturing employees to evolve within the company, enhancing their skills in alignment with business needs, not only fosters allegiance but also enhances their commitment and active involvement in the organization's progress.

Retaining

Many companies endeavour to retain their top talent by providing promotions and salary increases, creating avenues for advancement, fostering engagement in unique projects and decision-making processes, offering advanced role training, and implementing programs for rewards and acknowledgment.

Transitioning

Efficient talent management centers on the combined development and progression of the organization, achieved by nurturing individual employees. This entails instilling a sense of belonging and connection, making each employee an integral part of a larger entity (Gallardo, Thunnissen and Scullion, 2019).

HR Talent Management: Why it is important?

Effective human talent management (HTM) is deemed essential for achieving business success, as it enhances the economic value of organizations. Attracting, retaining, training, and nurturing human talent is pivotal for bolstering competitiveness. HTM encompasses the essential policies and practices formulated by the HR department to acquire and effectively oversee the skills and potential of an organization's members (Hongal and Kinange, 2020).


Conclusion

Talent management is a strategic imperative, aligning with business goals. From attraction to transition, it cultivates exceptional individuals, fostering a high-achieving culture, enhancing reputation, and fortifying organizational value. HR's role in effective talent management underscores its vital contribution to business success.


References

Boštjančič, E. and Slana, Z. (2018). The Role of Talent Management Comparing Medium-Sized and Large Companies – Major Challenges in Attracting and Retaining Talented Employees. Frontiers in Psychology, [online] 9. doi:https://doi.org/10.3389/fpsyg.2018.01750.

Gallardo, E.G., Thunnissen, M. and Scullion, H. (2019). Talent management: context matters. The International Journal of Human Resource Management, [online] 31(4), pp.457–473. doi:https://doi.org/10.1080/09585192.2019.1642645.

Hongal, P. and Kinange, U. (2020). A Study on Talent Management and its Impact on Organization Performance - An Empirical Review. [online] International Journal of Engineering and Management Research. Available at: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3559991.

Khatri, P., Gupta, S., Gulati, K. and Chauhan, S. (2010). Talent Management in HR. Journal of Management and Strategy, 1(1). doi:https://doi.org/10.5430/jms.v1n1p39.

Sareen, P. and Mishra, S. (2016). A Study of Talent Management and Its Impact on Performance of Organizations. Journal of Business and Management, [online] 18(12), pp.66–73. doi:https://doi.org/10.9790/487X-1812036673.

 

Comments

  1. E211227_MohamedAugust 15, 2023 at 2:48 AM

    As a strategic force, talent management shapes an organization's culture, reputation, and value. It emphasizes the holistic approach from recruiting through retention, as well as HR's critical role in creating talent management strategies that correspond with the organization's overall goals.

    ReplyDelete
  2. Nimantha WickremasingheAugust 18, 2023 at 10:27 AM

    Talent management is indeed an important part of Human Resource Management (HRM) as it directly links with organisations' competitive advantage in the industry.

    ReplyDelete

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