Talent Management and its importance
Talent Management and its importance
Talent Management (TM), a subset of Human
Resource Management (HRM) can be described as a process by which talented
individuals identified as proficient, high performing and potential are
acquired, continuously developed, rewarded and retained within an organisation
(Lewis and Heckman, 2006). Talent, as a theoretical concept focuses on key
characteristics in individuals and these include skills, competencies,
knowledge, experience and behaviour that are relevant to the nature and success
of the organisation (Gallardo-Gallard et al., 2013).
TM is becoming increasingly prominent and
today’s business world demands spontaneous results that call for niche skills
and technical expertise; therefore, it would be inadvisable to exclude a TM
strategy within an organisation’s HRM practices, especially if the intention is
to retain valuable employees and expand globally (Scullion and Collings, 2011).
As organisations differ from one another, so do TM approaches and the most
ideal manner to execute talent policies would be the responsibility of HR
together with line managers, as they are in a better position to evaluate
employee performance based on assigned targets and are aware of the critical
components that inform the entity’s corresponding TM strategy (Moczydłowska,
2012; Ready and Conger, 2007).
HRM processes such as selection and
recruitment, performance management, training and development, including
360-degree feedbacks support in creating and maintaining talent pools within an
organisation (Caligiuri, 2006; Scullion and Collings, 2011). Irrespective of
the various interpretations revolving around “talent”, it is imperative that
the TM culture embedded is aligned with the Business strategy of an
organisation to guarantee optimum results that facilitate sustainability within
marketplaces (Lewis and Heckman, 2006).
References
Caligiuri, P., 2006. Developing global
leaders. Human Resource Management Review, 16(2), pp.219-228.
Gallardo-Gallardo, E., Dries, N. and
González-Cruz, T.F., 2013. What is the meaning of ‘talent’ in the world of
work?. Human Resource Management Review, 23(4), pp.290-300.
Lewis, R.E. and Heckman, R.J., 2006. Talent
management: A critical review. Human resource management review, 16(2),
pp.139-154.
Moczydłowska, J., 2012. Talent management: theory and practice of
management. the polish experience. International Journal of Bussiness
Economic Research, 3(1), pp.432-438.
Ready, D.A. and Conger, J.A., 2007. Make your company a talent
factory. Harvard business review, 85(6), pp.1-10.
Scullion, H. and Collings, D., 2011. Global
talent management. Routledge.
The point you brought out is a important fact contemporary business environment. Especially to retain the talent employees organization have to manage in a systematic way where employees don't feel their present in the organization is a unproductive one.
ReplyDeleteCompletely agreeing.
DeleteYou have highlighted the good points of TM. If you can relate any context (your own company or any other) with TM, that can create more value to the arguments.
ReplyDeleteSince TM approaches and the most ideal manner to execute talent policies would be the responsibility of HR together with line managers, as they are in a better position to evaluate employee performance based on assigned targets, What i believe is management should have an ability to identify who their employees truly are.In this context what i experienced is we have our own PDP(Personal Development Plan) where my manager evaluating us individually and providing feedback and measure our performance.They assigned targets and evaluate the process in timely manner.So i think this way of approach would be suitable in any organization and then the connection between the management and employee would be a better one where employees would lead to retain in the organization without suffering at the end.
ReplyDelete