TALENT MANAGEMENT FROM HR OVERVIEW

 


    (Image Source: https://stock.adobe.com/search?k=talent+management)


WHAT IS TALENT MANAGEMENT?

Talent management is a set of processes and practices aimed at attracting, identifying, developing, and retaining talented employees within an organization. It involves strategic planning, performance management, employee development, and succession planning, all aimed at ensuring that the organization has the necessary talent to achieve its business objectives.

Talent management is a critical function of HR, as it helps organizations to identify and nurture the skills and capabilities of their employees, aligning them with the organization's goals and objectives. By investing in talent management, organizations can build a strong pipeline of talent and develop a competitive advantage in the marketplace.

 

TALENT MANAGEMENT PROCESS

The process of talent management could be considered, beginning with recognizing the need for talent and progressing to filling that gap and eventually growing and optimizing the skills, traits, and expertise of new and old employees. (Ghosh P, 2021)

Following are the key features of talent management process,


(Image Source: https://www.google.com/search?q=talent+management+process&source=lnms&tbm=isch&sa=X&ved=2ahUKEwjc-JSOjLn AhWe7TgGHcLODBcQ_AUoAXoECAEQAw&biw=1366&bih=600&dpr=1#imgrc=VaM_nbEEV5uNoM)

01. Planning

The initial phase in the talent management process, like with any process with a predetermined result, is planning. It entails determining where the gaps are in human capital requirements, generating job descriptions for important roles to help drive sourcing and selection, and developing a workforce plan for recruitment initiatives.

 

02. Attracting

Deciding whether to fill the talent requirements from within the organization or from outside sources is the logical next step based on the plan. In either case, the procedure would require drawing in a steady stream of applications. The typical external sources are social networks, job portals, and recommendations. To maintain the process as streamlined and effective as feasible, the talent pools that need to be tapped into must be identified in advance. This is where the organization's employer brand enters the picture because it determines the caliber of applications that are received.

 

03. Selecting

Finding the best person-organization fit entails applying a variety of tests and checks to determine the proper match for the position. Written tests, interviews, group discussions, psychometric testing, and a thorough analysis of all the candidate information available on public access platforms all contribute to obtaining a complete picture of the applicant.

 

04. Developing

Many firms today believe in hiring for attitude and training for skills. This makes sense since, while you want a propensity to particular skill sets, you are hiring the person, not the CV. Employee engagement and loyalty are increased through developing employees to help them grow with the organization and preparing them for the competence required to contribute to business success.

 

05. Retaining

Talent must be efficiently retained for any firm to be genuinely successful and sustainable. Most firms aim to retain their finest personnel by offering opportunities for growth, promotions, participation in special initiatives and decision-making, training for more advanced jobs, and rewards and recognition programs.

 

06. Transitioning

Through the development of individual employees, effective talent management focuses on the collective transformation and progress of the organization. This entails making each employee feel like they are a part of something bigger. Retirement benefits, exit interviews, and efficient succession planning may appear to be unrelated career stages, yet they are all transition tools that facilitate the common journey.

(Ghosh P, 2021)

 

WHAT IS TALENT MANAGEMENT PIPELINE?

The process of discovering, developing, and promoting employees within a company to ensure a consistent supply of talent for important jobs is referred to as talent management pipeline. It is a methodical approach to talent management that entails identifying high-potential individuals, improving their skills and competences, and preparing them for critical leadership roles.

Identifying high-potential people with the ability to advance in the business is often the first step in the talent management pipeline. These employees are then given opportunities for growth and development, such as training, mentoring, and coaching. They may be given greater levels of responsibility and exposure to other parts of the company as they go through the pipeline.

The talent management pipeline's final goal is to establish a pool of skilled employees who can be swiftly and effectively deployed to fill essential roles within the organization. This not only guarantees that the firm has the necessary skills, but it also offers employees with a clear path for professional advancement and development.

 

HOW TO BUILD A TALENT PIPELINE?

 

Developing your internal talent pool

There are numerous arguments in favor of internal hiring. Its people you already know and trust are a good cultural fit. Use the outcomes of performance reviews to do successful succession planning. Determine who has skills that could be put to use in crucial jobs. (N Bika, No date)

 

Sourcing an external talent pool

Recruiting external talent is difficult. When there is a requirement to fill a specific role, sourcing and networking are more typically used. A more smart strategy is to use your talent pipeline proactively, before filling a post becomes critical. (N Bika, No date)

 

Few things which will build and effective talent pipeline

 

*Using modern sourcing tools to find resumes and profiles

*Attend events to locate active passive applicants who are engaged.

*Find candidates from social media.

*Keep your eye on rejected candidates

*Keep developing your referral programs

(N Bika, No date)

 

BENEFITS OF A TALENT MANAGEMENT SYSTEM


*Connecting and sharing data

*Strategic hiring process

*Improved onboarding experience

*Ability to retain top talent

A talent management system can assist businesses in identifying, attracting, and retaining high-performing individuals. Organizations can identify the top candidates for open positions and establish tailored recruitment strategies to entice them by employing tools such as candidate profiling and applicant monitoring.

*Enhancing employee development

A talent management system can assist firms in identifying skill gaps and designing training and development programs to fill them. Organizations may help their employees grow and realize their full potential by giving them with the tools and resources they need to develop their talents.

*Increasing employee and employer engagement

(Resources Hub, 2022)

 

CONCLUSION

In conclusion, a talent management system can provide several benefits to an organization, including attracting and retaining top people, employee development, and succession planning, as well as improving performance management and increasing efficiency.

Organizations may develop a more engaged and productive staff, improve their HR operations, and ultimately drive business success by using a talent management system. As the competition for talent heats up, having an effective personnel management system can provide a substantial competitive advantage for firms seeking to attract, develop, and retain the best employees.


REFERENCES


Ghosh P (2021) what is Talent Management? Definition, Strategy, Process and Models.Spiceworks[Online].Available at https://www.spiceworks.com/hr/talent-management/articles/what-is-talent-management/ Accessed on 21st April 2023.


N Bika (No Date) Talent pipeline management strategy: tips for an effective pipeline.Resources for Employers [Online] Available at https://resources.workable.com/tutorial/talent-pipeline#:~:text=A%20talent%20pipeline%20is%20a,to%20hire%20in%20the%20future Accessed on 22nd April 2023.


Resources Hub (2022) 7 Benefits of Talent Management Systems for Businesses.Resources Hub [Online] Available at https://elmosoftware.com.au/resources/blog/7-benefits-of-having-a-talent-management-system/ Accessed on 22nd April 2023. [





Comments

Post a Comment

Popular posts from this blog

AN OVERVIEW OF HUMAN RESOURCE MANAGEMENT

Image
  ·          WHAT IS HUMAN RESOURCE MANAGEMENT? Human Resource Management (HRM) is a business operation that aims to maximize employee performance in order to satisfy the organization's strategic goals and objectives. HRM is more specifically concerned with the management of people within organizations, with an emphasis on policies and systems. In a nutshell, human resource management (HRM) is the process of hiring and selecting personnel, providing suitable orientation and induction, delivering proper training, and developing skills. (Tutorials point, 2023)   ·         EVOLUTION STAGES OF HRM Human Resource Management (HRM) has come a long way during past centuries with different stages and has developed with many value additions. HRM is a relatively recent term for managing employees in any firm. It is still evolving and will continue to evolve in order to stay up with a changing world. (Pock...
Read more

EVOLUTION STAGES OF HUMAN RESOURCE MANAGEMENT

Image
  (Image Source : Quick Leonard Kieffer,2023, https://qlksearch.com/evolution-of-human-resources/) The term "human resource management" is relatively new. It became popular in its present sense primarily after the 1980s. Production of commodities was mostly done by skilled artisans and craftsmen during ancient times and for a long time during the medieval era. They possessed the tools and instruments, created items, and sold them on the market. As such, the question of employer-employee or master-servant relationship did not arise in these cases. They managed their job themselves or with the help of their family members. Many effluent craftsmen also employed apprentices and certain types of hired laborers. The master craftsmen and the apprentices had a very tight relationship, and they took care of the problems that the apprentices and their family members faced. A bit of human approach was involved in their relationship. The ancient and a major part of the medieval pe...
Read more

IMPACT OF GLOBALIZATION ON HUMAN RESOURCE MANAGEMENT

Image
  (Image Source  : https://www.usemultiplier.com/blog/globalization-in-human-resource-management )   WHAT IS GLOBALIZATION? The increasing connectivity and interdependence of the world's economies, communities, and cultures is referred to as globalization. It is a process that has been accelerated by advances in technology, transportation, and communication, which have made it easier for commodities, services, people, and ideas to flow across boundaries. Globalization has resulted in the spread of western culture and ideals, as well as the emergence of a global market economy. It has also sparked worries about inequity, environmental degradation, and the deterioration of local cultures and customs.   GLOBALIZATION IN TERMS OF HRM Human Resource Management (HRM) is concerned with the recruitment, retention, and management of an organization's employees. It is a driving factor behind employee satisfaction, and this type of people management plays a significant part in ...
Read more