Talent Management in Business

Talent Management in Business

It is an ability of organisations to recruit, develop and retain most skilled employees in the workplace. Talent management helps the business in identifying vacant positions, hiring high skilled candidates and retaining people to achieve long term objectives in marketplace. In addition, it is a strategic human resource planning that improves the value of a business to accomplish the goals and objectives.

Importance of Talent Management

  • Strategic talent management builds up the reputation and goodwill of the business in the marketplace.
  • It builds a strong human capital to strengthen the organisational structure.
  • It encourages a positive environment in the workplace by providing job satisfaction to employees.   
  • Talent management encourages organisations to conduct training and development programs to enhance their knowledge and learning skills. 
  • It supports the business to gain competitive advantage and establish an effective presence in market.
  • Employees have a feeling of belongingness and being cared because talent management focuses on the betterment and growth of employees.

Process of Talent Management

The talent management process involves various steps such as planning, attracting, selecting, developing, retaining and transitioning.

  1. Planning – The initial step of the talent management process is planning. In this step, human capital requirements and key roles of employees are identified. Moreover, a plan for recruitment of employees is proposed in the planning step.
  2. Attracting – There are a number of job portals that attract job seekers such as timesjob.com, naukri.com etcetera. Apart from job portals, referrals and social networks such as Twitter and Linked attract a number of job seekers. An organisation must decide the source of recruitment whether it is external or internal.   
  3. Selecting – In order to select highly qualified employees, an organisation must focus on:
  • To schedule interviews and written tests
  • To scrutinize a suitable candidate for a particular job profile
  1. Developing – Developing is a step in which skills and knowledge are developed among employees according to the job profile and organisations. The skills and proficiency of employees are matched with the requirements of business.
  2. Retaining – It is essential for a business to retain employees for the long term survival of business. There are various methods that retain a large number of employees such as promotions, incentives, participative decision making, vacations, paid leaves etcetera.  
  3. Transitioning – The primary aim of every organisation is to transform the position of employees to achieve objectives. For this purpose, businesses provide retirement benefits and internal or external promotions to their employees  

 

:

Latest Reviews
Christi, Toronto
20 Aug, 2019

Thanks to Assignment Service Australia for helping me to solve my HRMT20024 assignment.
 

Norman Kay, Toowoomba
15 Jul, 2019

The solution was professional and I got great marks based on this assignment.

Kylie, London.
17 Jul, 2019

Marketing Thank you guys for helping me with the assignment on short notice. You are such a savior. Thanks for your services.

Jacob, Croydon
16 Jul, 2019

BUSN20017 I want to thank you to help in getting good marks in BUSN20017 assignment. I would like to get your assistance in future too. Jacob, Croydon.

 

About Us

Our aim is to make education for students as affordable as possible. With years of experience in academic writing, our assignment experts and tutors help students to produce papers of the highest academic standards at the most reasonable rates possible.

Our Contacts

Eldert Street,
Brooklyn, NY 11237

Phil: +1 (347)-481-3602
Rudy: +1 (929)-500-9225
Gagan: +91 (819)-500-0470