Importance of Talent Management
Subject: Human Resource Management | Topics:

Talent Management, as the name itself suggests is managing the ability, competency and power of employees within an organization.I believe that companies need to integrate their talent and succession planning with their strategic business plans and view talent management as a long-term, continuous process. I therefore propose the following:

1. Talent management requires a strategic perspective. What are the things that might impact your organization in the future? Will it grow and acquire other businesses, or is the market shrinking and therefore a different leadership approach may be needed.

2. Identify the requirements of the key roles. Effective talent management requires clarity on technical and behavioural requirements for the roles as well as specific experience, such as international or specific market experience. All key roles should have the necessary components and characteristics for superior performance clearly defined. These requirements can then be used as a basis to assess people, either internally via a promotion or externally via recruitment.

3. Define career paths for internal promotions Once your succession strategy is clear, establishing career paths and the ability to describe the requirements for pursuing the path becomes easier. Creating effective career paths requires two components, knowing the requirements for the next level .

4. Link talent management with performance management. Talent management and succession planning should become a part of the organization performance management and career development processes. Regular performance discussions are important to collect evidence of how potential successors have performed. In addition, the discussions also provide the opportunity for managers to coach talent to ensure ongoing development and readiness.

5. Provide ongoing development. Managers need to support the ongoing development of their talent to ensure that make the necessary progress.

importance of talent management

Related Human Resource Management Paper:

Popular Human Resource Management Paper:

Causes of Grievance

Introduction Grievance by an employee taking recourse to the formal procedure may not in all cases solve the real problem. It is true that in many cases the grievance could be taken care of through the grievance process, but there are instances and occasions when a much deeper analysis of the sys.....

Report On Garments Industry in Bangladesh

Introduction: The tremendous success of readymade garment exports from Bangladesh over the last two decades has surpassed the most optimistic expectations.  Today the apparel export sector is a multi-billion-dollar manufacturing and export industry in the country. The overall impact of the ready.....

Internship Report on Garments Industry of Bangladesh The Challenging Ahead

EXECUTIVE SUMMARY Readymade Garments Industry is the leading foreign currency earning sectors of Bangladesh. Now-a-days Bangladesh financial sector is very much dependent upon this sector. The annual export income of garments sector is driven from two sources one is woven garments and others is k.....

Purpose of Training and Development

Training is defined by Wayne Cascio as “training consists of planed programs undertaken to improve employee knowledge, skills, attitude, and social behavior so that the performance of the organization improves considerably.” The purpose of training and development can be explained as follows......

Recruitment and Selection Process in Nestle Bangladesh Ltd.

INTRODUCTION 1.1: Background of the Report An employee might more knowledgeable and skilful by training and development program or process that maintaining an effective level job performance. So it acts an important role in HR department. As a part of BBA program, our Human Resources practices in.....