Talent Management

Talent Management An organization survives if it meets its business goals. For successful achievement of the business goals the organization must have the required talent. Talent comes through its human resource which mainly consists of the people working in the organization. Talent management (TM) is a set of continuous and integrated human resource (HR) processes which are designed to attract, develop, motivate, and retain productive and engaged employees. Main HR processes of TM are recruiting, training, managing, supporting, compensating and motivating the people of the organization. The objective of talent management in an organization is to create a high performance work force that helps in the organizational sustainability as well helps the organization in meeting its strategic and operational goals and objectives. The wheel of the talent management is shown in Fig 1. Fig 1 Talent management wheel Principles of talent management There are six talent management principles. These are described below. Alignment with strategy – Corporate strategy is the natural starting point for thinking about talent management. Strategic planning of the organization is to align with attracting, recruiting, developing and deploying the right people to drive the effort. Talent management goals are to be integrated with the business planning process and achievements of these goals are to be tracked through the management processes. Internal consistency – Implementing practices in isolation may not work and can actually be counter­productive. The principle of internal consistency refers to the ways the organization’s talent management practices fit with each other. Consistency is crucial. As an example, if an organization invests significantly in developing and training high-potential individuals, it should emphasize employee retention, competitive compensation and career management. It also should empower employees to contribute to the organization and reward them for initiative. Cultural embeddedness – In an...