Talent management is the assured business strategy that will ensure the attraction of top talent in competition with other employers.
'Talent Management’ is a concept of great significance in the Human Resource industry. This is the time wherein companies are aware of the HR functions and its vital role in business strategy and execution. The term 'talent management' is becoming popular as organisations that have adhered to this process have been recognised for their working pattern in the recent years. Today, organisations are no longer lagging behind in visualizing employee talent and knowledge, and, a significant intellectual asset can be obtained from every employee to enhance productivity. In short, talent management is the assured business strategy that will ensure the attraction of top talent in competition with other employers.
Fundamentally, the process utilises both integral perceptions and individual capabilities and information to help them adapt into a tool for gaining competitive advantage. It is vital to realize that organisations consist of people who add value through proven business processes, innovation, customer service, sales, and many other important activities. As an organisation endeavours to meet its business goals, it must make sure that there is a constant and a cohesive process in place to retain productive and engaging employees and focus on their key strengths. Talent management actually prevents such employees from being under-utilized who can otherwise be put to additional use whenever required.
While there is no dearth of professionals, there is an acute shortage of able professionals worldwide. Management professionals and graduates from various B-Schools are available in large numbers across the globe, but, it is noteworthy to see how many such professionals are genuinely employable. Hence, the shift from an ad hoc to a strategic talent management programme can greatly aid a company in achieving its business objectives.
This story is from the September 2018 edition of Human Capital.
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This story is from the September 2018 edition of Human Capital.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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