Talent management is just another one of those pesky Human Resources terms. Right? Wrong.
Talent management is an organization's commitment to recruit, retain, and develop the most talented and superior employees available in the job market. Talent management is a business strategy that organizations hope will enable them to retain their top talented employees. Just like employee involvement or employee recognition, it is the stated business strategy that will ensure the attraction of top talent in competition with other employers.
When you tell a prospective employee that you are dedicated to a talent management strategy that will ensure that he or she will have the opportunity to develop professionally, you attract the best talent.
HR GO͝ORO͞O can help infuse the following systems when you approach talent management as your overall business strategy to recruit and retain talented employees.
HR GO͝ORO͞O can provide support, training, backup, and take the lead in some of the activities you see on this list, especially in recruiting and selecting new employees, and in the case of an employment termination.
Talent management is a business strategy and you must fully integrate it within all of the employee related processes of the organization. Attracting and retaining talented employees, in a talent management system, is the job of every member of the organization, but especially managers who have reporting staff (talent).
An effective strategy also involves the sharing of information about talented employees and their potential career paths across the organization. This enables various departments to identify available talent when opportunities are made or arise.
An organization that does this kind of effective succession planning makes sure that the best talent you have is trained and ready to assume the next position in their career path. Succession planning benefits the employees and it benefits the organization. Managers across the organization are in touch with the employees you are grooming for their next big role.
In larger organizations, talent management requires Human Resources Information Systems (HRIS) that track the career paths of employees and manage available opportunities for talented employees.
HR GO͝ORO͞O is also deeply involved in the performance management system, career planning, and so forth leading the development of the systems. Find out more about the work systems that talent management encompasses and best practices in talent management.