Talent Management

“Talent Management “……. the moment we think of Talent management it takes us to the entire life cycle of an employee, this is one responsibility that every manager owes to manage the Talent , it is just like nurturing a kid .

Bringing up the children is the most difficult task without any complaints we all do because we love them unconditionally, we let them grow &  do few mistakes as we believe these mistakes will help them develop a better human being and they should learn from their mistakes.

I remember the quote from Maya Angelou “I have learnt that people will forget what you said, will forget what you did, but people will never forget how you made them feel

We feel same goes with the employees across all levels, because companies are only as strong as their people and as mangers we should take the onus of nurturing and developing talent.

Now the questions arise, what is Talent management and from where we should start and who all are responsible in the Organization to manage the talent, is it the responsibility of Human resource department, functional business heads, the CEO or each one of us.

Technically speaking “Talent management is the skill of attracting and nurturing highly skilled employees, integrating new employees, and developing and retaining current employees to meet the current and future business objectives and known as Human Capital Management.

Before going into the details of talent Management it is important to understand the pillars of Talent Management, the four pillars of Talent Management are:

Recruitment

“Great Vision without great people is irrelevant”

Importance of hiring and nurturing employees so that an organization can create a pool of great talent to achieve the exponential growth of the organization. Nothing is more important than hiring and developing people, as at the end of the day, you bet on people not alone on strategies.

Performance Management

After obtaining talented individuals, it is important that they maintain exceptional performance levels. Management team needs to be prepared to manage its employees’ performance to help the employees maintain that level of performance expected of them.

 

Learning and Development

On boarding and training are two key words for this third part of talent management. On boarding methods help new hires learn about the organization’s inner workings in general and how they fit into
that structure and set up. Routine training will allow for employees to fine-tune and further develop their skills and talents—two key essentials for optimizing the talent of your workforce.

 

Compensation Management

It is important to keep employees motivated; acknowledgement of achievement and giving rewards when they are among many ways to improve motivation.

Talent management is integral to businesses these days and is one of the crucial management functions in an organization. After all it is important to understand is it only the organizations getting the benefits of  Talent Management or in the end an employee is also benefited?

Benefits of Talent Management for an Organization:

  • Enhances individual and group productivity and capacity to compete effectively in a complex and dynamic environment to achieve sustainable growth.
  • Assists in hiring quality workforce.
  • Establishes better match between jobs and skills.
  • Helps retain top talent thereby reducing the cost of hiring new recruits.
  • Helps in understanding the employees better.
  • Keeps employees engaged constructively.
  • Effective use of available man-hours.
  • Helps develop leaders for tomorrow within the organization.
  • Helps in evaluating employee’s readiness to take up new roles.

No doubt it also benefits an employee to in the following areas:

  • Promotes long-term association with the organization.
  • Persistent and higher productivity of employees.
  • Keeps the employees motivated which helps in career development.
  • Helps the employees get job satisfaction from their work.

An organization can have the best strategy and the best building in the world, but if the organizations do not have the hearts and minds of the people who work with you, none of this comes to life. This also explains the relationship between the employee engagement &  service excellence. This brings into light why employee engagement is important to make the business flourish. Managers should not only manage the business but at the same time it becomes more important to have human touch. Managers who cannot emphasise or feel the pains of employees are becoming a catalyst of de growing of human resource and a set an unhealthy trend of attrition or bad productivity.

In the end we would like to conclude that Human Resource is the back bone of any organization, techniques, rules, studies have gone a sea change since the era of industrial revolution. Talent Management must be linked with competency-based management. Instead of firing an employee for the mistake that has occurred it is important to train/groom the employee. Today we live in a knowledge- based society where knowledge-based business would rule next business cycle for at least 10 years. Thus  the knowledge curve gained is an invaluable tool for strategic sustainability in coming future.

A great strategy is great but at the end of the day, people who execute the strategies makes the difference between winning and losing the game.

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