Talent Management

  

 Image Source: https://slidebazaar.com/blog/wp-content/uploads/2020/09/Talent-Management-Featured-Image.jpga  access on 4th 12 2022


Introduction

According to Armstrong (2014) "The term ‘talent management’ may refer simply to management succession planning and/or management development activities, although this notion does not really add anything to these familiar processes except a new name – admittedly quite an evocative one. It is better to regard talent management as a more comprehensive and integrated bundle of activities, the aim of which is to create a pool of talent in an organization, bearing in mind that talent is a major corporate resource”.

According to Lewis and Hackman (2006), talent management is defined in three ways

1) as a combination of standard human resource management practices such as recruitment, selection, and career development

 2) as the creation of a large talent pool, ensuring the quantitative and qualitative flow of employees through the organization (i.e. akin to succession or human resource planning)

(3) as a good based on the demographic necessity to manage talent. (Armstrong,2014, p. 264)

Talent management seeks to attract, identify, develop, engage, retain and deploy individuals who are considered particularly valuable to an organization. To be effective, it needs to align with strategic business objectives. By managing talent strategically, organizations can build a high-performance workplace, foster a learning climate, add value to their employer brand, and improve diversity management. (CIPD,2022)

 

What is talent?

According to Armstrong (2014) “Talent was defined by Michaels et al (2001, xii) as ‘the sum of a person’s abilities... his or her intrinsic gifts, skills, knowledge, experience, intelligence, judgment, attitude, character, and drive. It also includes his or her ability to learn and grow.’ Talent is what people must have in order to perform well in their roles. They make a difference in organizational performance through their immediate efforts, and they have the potential to make an important contribution in the future. Talent management aims to identify, obtain, keep, and develop those talented people”.

 

 

According to the (ADP) Impact of Talent Management


Businesses that take the time to develop their employees and keep them engaged tend to be innovative and profitable. Conversely, those that are unable to source or retain talent generally have poor customer satisfaction and limited growth potential.

Equipping and engaging talent to optimize productivity and fuel growth is not a singular task. There are numerous employer responsibilities, such as the following, which must be fulfilled to excel at talent management:

  • Workforce planning
    Most talent strategies begin with defining the skillsets that will be required to achieve the business’s objectives.
  • Recruitment
    Acquiring talent consists of representing the employer brand effectively, determining where the right candidates can be reached, prescreening applicants, and interviewing promising prospects.
  • Onboarding
    A structured onboarding program that introduces employees to the workplace culture and helps them feel connected to and comfortable with their team and organization is essential to retention.
  • Training and development
    While it was once considered the employee’s responsibility to seek learning opportunities, many workers today expect their employers to provide the tools, guidance, and support they need to further their careers.
  • Performance management
    Reviews and check-ins with team leaders help employees build upon their strengths, thereby increasing engagement and reducing turnover, and making it possible for employers to meet key business objectives.
  • Compensation and benefits
    Fair compensation is important, but employers who want to attract and retain talent should take a holistic view of the perks and benefits they offer beyond a paycheck.
  • Succession planning
    Preparing for the next step in the employee journey – whether it’s career advancement, retirement or resignation – can help people transition to new roles quickly and limit disruptions

 It is understood that improving the skills of the employees will help in organizational development.


Reference:

Armstrong, M. and Taylor, S. (2014) Armstrong’s Handbook of Human Resource Management Practice. 13th ed. London: Kogan Page publishers.

 

[Online] CIPD(2022) Talent management [Available From] https://www.cipd.co.uk/knowledge/strategy/resourcing/talent-factsheet#gref  [Accessed on 03.12.2022]

[Online] ADP what-is-talent-management. [Available From] https://www.adp.com/resources/articles-and-insights/articles/w/what-is-talent-management.aspx [Accessed on 03.12.2022]

Comments

  1. Chaminda PereraDecember 5, 2022 at 8:56 AM

    Yes, agree with you, if you really recognize, analyze and identify employees' talent you can achieve company objectives very easily.

    ReplyDelete

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