| Some people say Talent is god's gift for a | | | | officials. With companies becoming global |
| person. A person is said to be talented if he | | | | with overseas acquisitions, keeping the |
| possess awesome ability in a particular | | | | upward growth will depend on cost |
| activity or field. Every one is talented in | | | | effectiveness, internal execution of |
| one or another way. Nourishing the talent and | | | | strategies precisely with existing workforce |
| utilizing it to the best is a challenge. | | | | as well as integrating new talents. |
| Talent levels will vary from person to | | | | |
| person. There is a scarcity of talents in all | | | | In good olden days the talent management was |
| areas. Competition is always there for | | | | not a priority and hence it was taken care by |
| getting the talents between organizations, | | | | personnel management departments in the |
| that is why the talent management attains | | | | organization. However in this new era talent |
| significance. | | | | management has become one of the top |
| | | | priorities of the organizations. Impact of |
| Every organization needs talented persons in | | | | talent management is directly visible as many |
| different levels to enhance the efficiency of | | | | companies are spending a chunk of their |
| the company. In this globalized era talented | | | | revenues to disburse wages as well as |
| personals are having demand and are offered | | | | benefits. Wages are increasing every year |
| good remuneration. For discharging specific | | | | rapidly for maintaining the talents in the |
| tasks talented and work ethic specialists are | | | | organization. |
| needed. In every field the case is same. It | | | | |
| is not easy to find the right talent needed | | | | Talent management best practices are |
| for the organization, it takes a wholesome | | | | competency based and some of the competencies |
| effort involving lot of human resource to | | | | are skills, personal traits, experience as |
| find the talents and recruit them. | | | | well as knowledge. Talent management is for |
| | | | the optimisation of the resources in the |
| Talent management is simply a process of | | | | organization, henceforth achieving good |
| recruitment of talents, developing the skills | | | | business results. Always there is chemistry |
| of existing workforce, promoting and | | | | between better talent in workforce and better |
| retaining the employees, attracting highly | | | | business outcome. Leaders are developed |
| talented and rated employees from other | | | | through the talent management system. |
| companies etc. Talent management is practiced | | | | |
| by human resources department of each and | | | | Keeping the workforce satisfied is an |
| every company. | | | | important aspect which can't be neglected by |
| | | | any organization. Success profiles should be |
| Performance management is directly linked | | | | the main criterion for promotion. There |
| with talent management. In every organization | | | | should be some planned strategy for talent |
| the challenges as well as strategies are | | | | management since human resource is an asset |
| entirely different. Hence the focus is mainly | | | | for the organization in this new age business |
| on getting and connecting the talent with the | | | | world. |
| organizational set up as well as making sure | | | | |
| that the person can cope up with the | | | | Top level management including CEO and senior |
| organizational challenges and deliver the | | | | leadership should support the efforts of |
| might. | | | | human resource department for developing |
| | | | talent pool. Line managers have a proactive |
| For a successful organisation team of | | | | role in talent management. They are the ones |
| talented dynamic executioners, passionate | | | | who can spot talents within organization for |
| leaders in right roles will make sure | | | | higher levels. Developing the talent within |
| effective execution of strategies and | | | | the organization is cost effective than |
| correction if needed as per the situation. | | | | really recruiting new ones in some cases and |
| That means talent should be there in | | | | it can be termed as one the talent management |
| executive, middle and lower level of the | | | | best practices. |
| organization. But setting up and maintaining | | | | |
| this kind of persons for longer periods is | | | | The demographics of the workforce across the |
| not easy. | | | | world are changing as many companies are |
| | | | turning global and cheaper workforce with |
| Senior human resource executives are dealing | | | | talent. This process is one of the talent |
| with the talent management and it is very | | | | management best practices. Hyper competition |
| important for companies as there is practice | | | | is the main factor which drives companies to |
| of rival companies luring away the talents. | | | | have talent management best practices to keep |
| So motivation and retention of talents in an | | | | the competitive edge. |
| organisation is a real challenge for HR | | | | |