Introduction- This is a globalization era, and each organization must adapt to the changes in order to avoid failure. Since the early days, employees of any firm have had more prospective places for employment, and there are a significant number of chances available around the world. The number of talent seekers has also increased, and as a result of these factors, the staff in a business is rapidly dwindling since they are not treated correctly. After focusing on all of these factors, any firm must include talent management in its plans and HR management.
Talent management is the process by which employers of all types – businesses, governments, and non-profit organizations – identify their human resource needs and assign a goat to meet them. “Having the appropriate person with the right talents in the right jobs” is a popular description of talent management. Any organization’s most important asset is its people It refers to the process of recruiting and integrating new workers, motivating and retaining current workers, and also attracting highly skilled workers to work for your organization.
The most difficult area of the organization to manage is talent management, which covers all aspects of keeping and attracting top people for your company. The most challenging challenge is keeping personnel in the organization, and techniques varies from person to person since their motivations fluctuate. Any organization’s retention tactics should be adapted to the specific of the contemporary era.
Implementing Talent Management :-
The organizations those are implementing talent management as the part of their business strategy are including the following –
- Recruitment of the high qualified and talented employees.
- Providing good and competitive compensation packages.
- New mode of training and development.
- A good performance management and appraisal system.
- New strategies for retention management.
Strategies for Talent Management :
The fundamental goal of the talent management process is to boost total worker productivity by enhancing talent retention and usage. To improve the productivity of the company, every business need talented individuals at all levels.
Talented individuals are in high demand in this globalized period, and they are well compensated, therefore it is not easy to discover the right talent required by the company; it takes hard work and resources to identify and engage them.
This is a part of a HR initiative to identify investment and develop the organization’s talent management position. These approaches will aid in the retention of top performers. At different performance levels, a decision model can be developed to define the role of central HR and local leaders. This decision model is sometimes referred to as the “Can Do/Will Do Matrix.” This model shows the plan of central HR and local leader to implement different strategies
Can Do/Will Do Matrix
The initiatives to be taken by HR to leave the traditions behind in meeting the requirement of the organization are as follows –
- Become “positive” versus “reactive” to the demand for critical talent needed to respond to company and industry changes.
- Categorize success skills and traits that can be developed in all the employees, and by this the training cost can be minimized and the focus should be on the key development areas exclusive for that organization and its culture.
Many strategies can be adapted by an organization to achieve the goal of talent management. Talent management is a strategic system, and it can be characterized as any organization’s necessity to include talent management in their HR. The role of talent management is to set the organization apart from the competition and to ensure that things are managed successfully. It plays a vital role in retaining good personnel and so boosting the productivity of the firm, which leads to success, by introducing new talent management tactics such as knowledge transfer, establishing high performance teams, and by leadership investment.
Mrs. Garima Tyagi, H.O.D., School of Computer Applications, Career Point University, Kota