WHAT IS TALENT MANAGEMENT?
Talent management is the carefully structured, strategic course of acquiring the right talent, helping them grows to their finest capabilities maintaining executive objectives in mind and retaining them to develop a better-quality workforce.
The process involves identifying vacant positions, sourcing for and on boarding the best-fit candidates, helping them grow within the system and acquire required skills, training for expertise with a futuristic view, retaining and encouraging them to attain long-term business goals. It pervades all aspects all human resources while making sure that the organization accomplishes its objectives.
Talent Management necessitates the working of HR professionals with managers or supervisors to ensure the proper functioning of the strategy.
Talent Management Process – Key points
Listed below are the key points to follow for a successful talent Management process-
It involves the following identifying where the gaps lie - the human capital requirement, formulate job descriptions for the necessary key roles to help guide sourcing and selection and developing a workforce plan for recruitment initiatives.
It involves listing the qualification, skills or experience preferred/required and preparing the job description to help with the sourcing and selecting for the vacant positions.
The next step is to decide the type of hiring you to need to focus on, internal or external. Either way, the process would involve attracting qualified applicants. The standard sources for external hiring include job portals, social networks, and referrals. The standard source for internal hiring is the organization’s internal ‘talent pool’.
This compromises of using a bunch of tests and checks to find the best match for the position. Aptitude tests, interviews, group discussions, and psychometric testing along with background check. Nowadays there are tools, software and AI-enabled solutions that can speed read a huge number of CVs to find the perfect match.
It would be helpful to remember that you are hiring a person and not his/her CV. Many organizations today give more attention to the attitude of the candidate rather than their imperfect skill-set. Developing employees to help them grow with the organization should be your motive. By developing your talent pool you guarantee having a trained and experienced pool of employees prepared to take leadership roles when required.
For any organization to flourish, talent needs to be retained efficiently. Developing and training employees for the expertise needed at a higher level fabricates faithfulness and loyalty
Organizations that do better than their competitors are aware that talent management is essential for building the right workforce. Executives analyze their employees’ performance using analytics and diagnostic tools and plan accordingly to optimize their workforce. To train and retrain the employees to meet futuristic needs not only help in retaining them but also gives you a strong, highly skilled whose efforts helps the business grow.
- Ishani Singh