The Various Aspects of Talent Management in Business

Added on - 21 Apr 2020

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Running head: TALENT MANAGEMENTTALENT MANAGEMENTName of Student-Name of University-Student ID-Author note-
1TALENT MANAGEMENTExecutive SummaryThis report deals with the various aspects of talent management in business organizations andit states the need for effective talent management in an organization. The report will focus onthe various issues or challenges that an organization faces due to mismanagement of talentand also the difficulties that they face while making an attempt to change the existing talentmanagement functions. The report concludes by stating the various steps organizationsshould use to measure and manage its talent management while making changes in itsexisting functions and also certain causes that makes an employee to leave his or her job.
2TALENT MANAGEMENTTable of ContentsIntroduction................................................................................................................................3Discussion..................................................................................................................................3Challenges of talent management..........................................................................................3Difficulties an organization faces for changing its talent management functions.................4Implications such change might have in managing and measuring the talent managementfunction..................................................................................................................................5Events that can cause someone to leave an organization without another job.......................6Conclusion..................................................................................................................................7References..................................................................................................................................9
3TALENT MANAGEMENTIntroductionThere is no exact definition of talent management and it has been defined by variouscritics in different ways. However, usually talent management is said to be the anticipation ofthe human capital, required by an organization, and the planning to meet its needs. Talentmanagement is also known as a science, using strategic human resource planning in order toimprove or uplift the value of a business and to enable the companies and organizations toreach their desired business goals (Dries, 2013). Every activity that is done for recruiting,retaining, developing, rewarding and for making the people in the organization work, forms apart of talent management as well as the strategic workforce planning.DiscussionChallenges of talent managementAn organization faces various challenges in talent management when an organizationloses sight of the functions of talent management (Nilsson & Ellström, 2012). These arestrategic and intentional in how to train, select, attract, develop, retain, promote and moveemployees throughout the organization. Some of the challenges are:-High total compensation demandsTightening of talent marketIncreasing employee turnoverLack of efficient leadershipUnappealing company cultureLack of benefits, incentives and other facilities
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