Talent Management and its importance

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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.

Comments

  1. Naz Journals April 18, 2019 at 8:06 AM

    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.

    ReplyDelete
  2. Razi JalaldeenApril 19, 2019 at 5:04 AM

    You 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.

    ReplyDelete
  3. Apsara WickramarathneMay 11, 2019 at 9:23 PM

    Since 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

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