Designing Effective Talent Management Strategies for Organizations
Added on 2019-10-01
9 Pages2512 Words152 ViewsType: 152
Leadership ManagementProfessional Development
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Blog: Talent Management1
Talent Management31st July 2019Concept of Talent ManagementTalent management can be defined as a systematic method of determining the various vacant positions within an organisation, hiring suitable candidates for the vacant positions and developing the major skills and expertise of the candidates to match the desired job positions, such that that candidate can be retained in the business for a long term and at the same time the business objectives are achieved satisfactorily. Various stages in the talent management process are implemented by an organization which is known as the talent management process model. The process of managing talent within an organization refers to the capacity of managing the power and competency of employees working in an organization either through direct or indirect approaches. The process of talent management is not only restricted to just recruitment of the right candidate at the right time for the right job. It encompasses a much larger area such as initiatives undertaken by the HR for improving the abilities of the employees and developing andnurturing them effectively such that the desired results are obtained in terms of increased employee performance and attainment of organizational objectives. It is challenging for modern organizations to recruit the best available talent in a country due to Extreme competition and various other factors that impact the labor market. Apart from recruiting employees returning them within the business and undertaking effective transaction of the employees to suit the organizational culture is a major concern for the modern organizations and it is extremely challenging for the Human Resource Department to ensure that all this functions and processes are being undertaken effectively, ethically and diligently within the organization. Talent management strategies can be considered as functions that offer the best possible solution to the organization by ensuring that the employees offer the best level of productivity and commitment that will benefit the organization.It is evident that the process of talent management is just not limited to attracting the best candidates towards an organization but it is also about retaining them effectively within the business by adopting ethical and honest human resource practices which motivate the employees 2
in several ways and ensure they are successful retention within the organization. The talent management procedures implemented by an organization can be considered as a continuous phenomenon that enables an organization to achieve the various human resource requirements such as sourcing, recruiting, developing, retaining and promoting talent within the business. If a business wants to ensure that it has the best possible talent pool as compared to its major rivals inthe industry then the management must offer something unique to the employees such that they are attracted to joining the organization instead of the competing organizations. However, hiring talent is not the key objective of recruiting the right candidate for the right job position. The management must be aware of the strategies that need to be implemented to ensure that the employee can offer the best possible performance and it can achieve individual as well as organizational objectives. Hence the talent management process is an extremely essential human resource function that manages and controls an employee write from recruitment till exiting the organization. Many of the organizations are now using modern integrated software applications for performing various talent management functions effectively and with the least possible errors.Talent Management Process ModelIt consists of various stages such as follows:Planning- this is the first stage of the talent management process where the objective is to determine the requirement of the human capital within the business. Here, HR develops the various job descriptions and formulates the key roles and responsibilities of the candidates. At this stage, a workforce plan for recruitment is proposed by the HR department of the organization.Attracting- in the second stage, the source of recruitment is determined by the HR department. Candidates can be attracted for the various vacant job positions from internalor external sources by undertaking strategies. One of the sourcing channels are the job portals which offer information about various candidates such as their skills, expertise, and experience. Social networking sites can also be considered as important resources from which candidates can be selected. One of the internal methods of attracting candidates towards various vacant job positions is employee referral. 3
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