Talent management involves the commitment of an organization to its recruitment, hiring, training, and developing the best talent available employees in the job market. It constitutes all the processes and systems about development and retainment of a superior workforce (Heathfield, 2019). It is a business strategy used by most organizations with the hope of retaining their excellent skilled and talented employees. That is achieved through involving and recognizing employees to ensure the attraction of the best talent when competing with other employers (Heathfield,2019). Talent management in the workplace, therefore, is of the essence as it not only acts as a motivator to the employees but also an opportunity for personal and professional growth.
Talent management's primary goal is to evaluate the ability, competency, and the employees' power within the organization. Anything to do with recruiting, development, retaining, rewarding, and ensuring better performance of employees is part of talent management. In most cases, talented people are always in shortage; even during recessions. People with the best leadership skills and that are excellent at their jobs are ordinarily short in supply (Bhattacharyya, 2016). H.R. ensures that the implementation of a strategic talent management process in the workplace. He also advises and supports the leaders on how to run the organization
Steps to Talent Management Process
Identifying the Organization’s Goals and Its Requirements
The organization's essential priorities should be identified, purposes listed, and the upcoming changes initiated. Later, the job specification and descriptions should be launched for the role needed to acquire the talent. That is the first process, and it plays a vital role in the whole process of success.
Sourcing and Attracting the Talent
This step involves the concept of Employment Branding. The main activity here is sourcing for suitable people as per the requirement of the job. That can be done via platforms like LinkedIn, where highly talented people can be found. Apart from social networking sites like LinkedIn and Twitter that the most talented people can be sources, the organization can as well opt for referrals or internal candidates.
Recruiting and Selecting the Talent
This stage involves conducting interview tests and recruitment of the best talent. That is done to aid in the identification of the most suitable person for the position,
Since the best candidate has been recruited, this stage involves strategies on how to retain those employees. Close to 51% of employers are not able to keep their employees (Bhattacharyya, 2016). There should be created for an opportunity for growth besides the high salary hikes and incentives. That gives the employees room for creativity and enable employers to retain the best workers.
Gradual promotion is necessary since people do not enjoy working on the same designation for a long time. That ensures employees grow in their professional careers.
Employees' performance should always be measured to aid in the identification of their real potentials. That helps in the identification of whether or not an employee can be tasked with extra responsibilities.
Contrary to a replacement, it is an organization's cool idea in nurturing and developing employees' continuous development. It majorly involves whoever will replace who shortly.
Advantages/Benefits of Talent Management in the Work Place
It can be of benefit to both the organizations and the individual employees as well.
Benefits of talent management to the employees:
- Through promotions and motivations, the employees feel valued, and that helps in career development. That creates more room for them to stay in the company (Mahapatra, 2019).
- Assists in the achievement of job satisfaction at work by the employees through engaging and involving them in decision makings (Amble, 2008).
- It facilitates employees' long- term association with the organization owing to the fair procedures for development.
- Ensures persistence and higher productivity of employees as they feel skilled, engaged, and motivated, thereby making them strive to attain the organization's goals (Amble, 2008).
Benefits of talent management to the organization:
- Facilitates productivity (individual and group) and in the assessment of their capability to compete effectively in a dynamic and complex environment in the attainment of sustainable growth.
- Helps in retaining the best talent hence reducing hiring costs for recruits which are vital for leadership and organization's growth. That avoids risks of losing out to competitors.
- Helps in the development of future leaders, investing in professional development, succession planning, and performance management (Mahapatra, 2019).
- Ensures a better match between jobs and skills through rigorous ascertainment of competency and strengths, thereby increasing employee productivity (Jenuje, 2015).
- Aids in better understanding of employees through assessments that give better insights to management about their employees; their career aspirations, development needs, abilities, likes, dislikes, strengths, and weaknesses (Mahapatra, 2019).
Talent management plays a vital role in an organization since it manages one of the most critical aspects of the business, the people (Quirk, 2018). Companies should, therefore, strive to manage employees effectively to increase their performance and productivity.
Amble, B. (2008, Feb) Benefits All Round from Good Talent Management. Management Issuesat theheart of the changing workplace.Retrieved from https://www.managementissues.com
Bhattacharyya, B. (2016, May) Step by Step Talent Management Process. Keka study guideRetrieved from https://www.keka.com
Heathfield, S.M. (2019, January) Why Talent Management Is an Important Business Strategy toDevelop. Employee Management. Retrieved from htps://thebalancecareers.com
Juneja, P. (2015) Benefits of Talent Management. Management Study Guide.Retrieved from https://www.managementstudyguide.com
Mohapatra, P. (2019, Feb) How The Use Of Talent Management Benefits Your Organizations.Learning Management Systems Retrieved from https://elearningindustry.com
Quirk, E. (2018, May).The top 5 Benefits of Having Talent Management. Talent ManagementSolutions Review. Retrieved from https://solutionsreview.com
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Talent Management: Recruiting, Hiring, Training & Retaining Talent - Essay Sample. (2023, Feb 15). Retrieved from https://proessays.net/essays/talent-management-recruiting-hiring-training-retaining-talent-essay-sample
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