TALENT MANAGEMENT STRATEGY TO CREATE A HIGH-PERFORMING WORKFORCE

Talent management refers to the expectation of required human capital for an organization and the planning to address those needs. Talent management is the science of utilizing strategic human resource planning to enhance business value and to make it possible for organizations to achieve their goals.

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Talent management is the process of identifying, developing, recruiting, retaining and deploying those talented employees in the organization. Talent consists of those individuals who can make a difference to organizational performance, either through their contribution or in the longer term by demonstrating the highest levels of potential. Talent management refers simply to management succession over planning and management development activities. (Armstrong, 2009)

Talent Management is not essentially different from human resource management or development. Both are about managing the learning and development of employees for the organization and getting the right people in the right job at the right time. It is simply incorporated human resource development with a direction on a small talented section of the workforce. (Iles, Preece and Chuai, 2010)

A talent management strategy consists of how the processes should align together with an overall objective to obtain and nurture talent wherever it is and wherever it is needed by using interdependent policies and practices. Career management involves the paths the routes employee can take to advance their career within an organization. It uses all the information provided by the organization’s appraisal of requirements, the assessments of carrying into action and potential and management succession. Management succession planning is the process of ensuring that capable managers are available to filling vacant managerial posts. Traditionally it has been regarded as a formal process but it is increasingly that the need is to develop a pool of talented managers so that a ‘talent on demand’ approach can be adopted. (Armstrong and Taylor, 2014)

INTERNATIONAL PRACTICES

Exxon Mobil attempted to hire and retain the most qualified people available and maximize their opportunities for success through learning and development. Ketchum, the global public relations firm, also competes for talent by marketing its com­mitment to development. P&G is another company known for hiring employees’ right out of school and developing them through progressive work assignments and learning. (Ulrich, Smallwood and Younger, 2007)

CONCLUSION

Organizations today often view all the staff train reward activities as part of a single integrated talent management process. Talent management defined as the destination oriented and integrated process of planning, recruiting, developing, managing, and compensating employees. When a manager takes a talent management perspective, he or she should keep in mind that the talent management tasks are parts of a single interrelated talent management process, make sure talent management decisions such as staffing and salary are goal-directed, consistently use the same profile for formulating recruitment plans for a job as you do for making selection, training, appraisal, and defrayal decisions for it, actively segment and manage employees, and coordinate all the talent management functions. (Dessler, 2012)

REFERENCES

Armstrong, M. (2009) Armstrong’s Handbook of Human Resource Management Practice, 11^th edn. London and Philadelphia: Kogan Page.

Armstrong, M. and Taylor, S. (2014) Armstrong’s Handbook of Human Resource Management, 13^th edn. London: Kogan Page.

Dessler, G. (2014) Human Resource Management, 13^th edn. Boston: Pearson.

Iles, P, Preece, D and Chuai, X. (2010) ‘Talent Management as a Management Fashion in HRD: Towards a Research Agenda’, Human Resource Development International, 13(2), pp. 45–125

Ulrich, D., Smallwood, N. and Younger, J. (2007) ‘Developing Your Organization’s Brand as a Talent Developer’, Human Resource planning, 30(2) pp. 1-11.