Talent Management

Talent Management

Talent management is the pool of exercises which are concerning to drawing in, choosing, creating and holding the best workers in the strategic roles. (Scullion & Collings, 2011).

According to the CIPD (2017), Talent management tries to attract, recognize, create, draw in, retain and send people who are thought about especially important to an organisation. By overseeing ability deliberately, an organisation can manufacture a superior working environment, encourage learning organisations, increase the value of their marking plan, and add to a decent variety of administration.

Every employee has different talents which is required for the organization to perform various tasks. Hence talent can be found anywhere within the organization. (Baqutayan, 2014) But companies should be very mindful & practical when dealing with the employee talents in order to achieve their business objectives. (Morgan and Jardin, 2010)

companies are embracing best global and nearby ability administration practices (Stahl et al., 2007). There are a few advantages of talent management such as representative commitment, maintenance of worker, expanded profitability, culture of perfection etc (Ballesteros & Inmaculada, 2010).

Organization success with the help of talent management is classified in three factors; these factors are development and reward plan, creation of set of career paths for the talented employee, which will help in ensuring the high quality work in the organization which will ultimately result in superior performance (Ballesteros & Inmaculada, 2010). Talent management has a two theories, resource based theory and talent based theory.

Components of talent management

There are three main components they are, talent attraction,and selection, talent retention, and talent development. It has two models inclusive and exclusive. According to the Lewis and Heckman (2006) Inclusive approach to Talent Management encompasses a collection of typical human resource practices, functions, activities or specialist areas such as recruiting, selection, development, and career and succession management. Exclusive Talent Management is aimed at a specific segment of employees in   the organization. 

References: -

Ballesteros, S. R., & Inmaculada, D. F. (2010). Talents the key for successful organization.    Unpublished thesis, Linnaeus School of Business &Economics, Linnaeus University.

CIPD, (2017). Talent management: An Overview Resource summary.   https://www.cipd.co.uk/knowledge/strategy/resourcing/talent-factsheet Accessed 28.06.2018 8.30pm

Dr Bagutayan S M S. (2014) Is talent management important? An overview of talent         management and the way to optimize employee performance, Journal of social sciences,

Gander, T.M.(2002) In the trenches at the talent wars: competitive interaction for scarce human resources management.

Scullion, H. & Collings, D. G. (Eds) (2011). Global talent management rout ledges. New York & London.

Stahl, G. K., Björkman, I., Farndale, E., Morris, S. S., Paauwe, J., & Stiles, P. (2007). Global talent management: How leading multinationals build and sustain their talent pipeline.

Lewis, R.E. & Heckman, R.J. (2006). Talent management: a critical review. Human resource  management.