Talent management is a strong tool to face the competition among the organization

What is talent management?

Talent management is the function within an organization that focuses on Systematic attraction, identification, development, engagement, retention and deployment of high performing people whose skills best align with the needs and objectives of the company.

There may be much peoples in the organization who have high skills with talent when they perform in the company. It must be identified their individuals performance to deploy for the betterment of the organization.

It is shown several rational definitions about the talent management as below

Stephenson & Pandit (2008) and several other researchers advised that having the right number of people at the right place at the right time with the right skill sets and levels of motivation are fundamental to talent management. Others believe that talent management embraces entirely the activities of an organization among which are attracting, developing, selecting and retaining the best workforce in the suitable position (Stahl et al., 2007).

CIPD defines talent management as the organized attraction, deployment, development and retention of high potential employees who are considered as a certain value for the organization (CIPD, 2009).   

Talent management is involved with all the Human Resource Management (HRM) processes with an exact emphasis on the attraction, development and retention of talents (Lewis and Heckman, 2006). In another expression, it can be said that talent management encompasses almost all the elements of human resource management (Stewart. & Harte, 2010).

As above mentioned, talented and more skills peoples are more important to retain in the company and they should be taken a maximum services while working times. Talent management is a HR function and it is implemented by the human resources manager. There is a big role and responsibility of the HR manager to identify that who are the high performing employee in the organization. And also, identified people who should be attracted in the company and further their skills and talent should be developed as a fully HR process. When individual develop on their performance they should be motivated by best salary increment, promotions, and other privileges.

Then after the organization has to make the retention plan such high performing people for long period within the organization. Because of the competitive organizations are looking forward to catch them with high offers.

  

Benefits of Talent Management

There are more benefits of talent management and when it is doing in any organizations which can be built a sustainable competitive advantage and outperform their competition through an integrated system of talent management. Benefits are as below;

1.    Right Person in the right position

Through the talent management process, the organization can find the high skills & high performing people to deploy in the right position as suitable to them. If the company is going towards sustainable develop among the other competitive companies, talent management will be most important practice for it. Because, through a proper ascertainment of people skills and strengths, can be identified peoples have strength, strategies, strong and accurate decision of the people. Then after, they can be used for company’s betterment who sat on the right positions. Finally employee productivity and satisfaction will be increased.

2.    Employee’s retention will be increased

The organization has been working with other competitors and it is really difficult to retain the high skill & performing people in the organization. Because of competitors are giving the more attention to angle the performing people form the organization. Through the talent management program, they are appreciated, and motivated to retain further in the organization. Finally, employee’s retention will be increased.

3.    Can be understood about the employee better

Actually, the organization should know about the employee to take decisions further company’s betterment. Whatever, ultimately the process is being done by human resource and the company has to focus at people development needs, their strength and weakness, abilities, career aspirations, employee’s likes & dislikes. Through the talent management program, can be determined about above mentioned areas of the people as well by the organization.  

4.    Increase Employee and Manager Engagement

As above mentioned, through the talent management program will increase employee’s satisfaction. So that, the people who has good understandability about company’s goals & objective then, they work with fully engagement through talent management program. It will be encouraged them invest in the organization and align their daily work with the business goals while also focusing on their personal goals.

5.    Strategic Hiring Process

Through the talent management program, the company identify that need skills & talent of the people to achieve the goal & objective. After that, TM can really show to the company that how recruit those high skilled and high talented candidates. And also, on the experience of TMP can be streamlined to focus at hiring process.

6.    Can be taken better professional development decisions

Conclusion

Talent management is a part of HR function which is most valuable thing to implement in the organization. If want to go towards company’s betterment rapidly, should be considered about talent management. It is shown most important benefits of talent management as above. When it comes to implement talent management in an organization employee’s satisfaction, engagement then after efficiency, productivity will increase. In addition if employees are positive about the talent management practices of the organization, they are more likely to have confidence in the future of their organization. The resultant is a workforce that is more committed and engaged determined to outperform their competitors and ensure a leadership position in the market for their organization.

Finally, I would say that talent management is a strong tool to face the competition among the organization. If it is implementing in any organization which will highly help to attack competitive culture as well.

References

Juneja.P, Benefits of Talent Management. Available from: https://www.managementstudyguide.com/benefits-of-talent-management.htm

7 Benefits of Having a Talent Management System, (2016) Available from: https://elmosoftware.com.au/resources/blog/7-benefits-of-having-a-talent-management-system/ [July 2016]

What is Talent Management and Why is It Important? (2018) Available from: https://expert360.com/resources/articles/talent-management-important [6 January 2018]

Talent Management Literature Review, (2013) Available from: https://www.researchgate.net/publication/250306503_Talent_Management_Literature_Review [January 2013]