Talent Management - Week 2

Talent Management

Talent management is a very crucial area in the modern business world. Any business to run successfully, it needs a pool of talented individuals. These individuals bring the changes which the business needs to succeed in the long run. All big corporations maintain a wealth of talented people who could spearhead the company into the future. Most of the time right candidates get picked up for the talent pool but there are chances people who get picked by favoritism.

Big companies have good policies in place for talent management. These companies have a plan on how to identify, recruit, train and retain the talented people.

Image 1

What is Talent?

Talent is an ability to do a task or a process. According to the Cambridge Dictionary, the word talent means "(someone who has) a natural ability to be good at something, especially without being taught:"

In the business world, according to Michaels, it is defined as "the sum of a person’s abilities... his or her intrinsic gifts, skills, knowledge, experience, intelligence, judgement, attitude, character and drive. It also includes his or her ability to learn and grow"(Armstrong, 2014).

Talented individuals are required by every organisation to achieve its goal. These employees will use their abilities and bring the change the company aspires.

The process of Talent Management.

Talent Management is the process of Identifying, obtaining, keeping and developing the talented employees for the success of the business by nurturing them in the best interest of both parties. Talent management has few levels of the process, each step plays a signifiacnt role in gathering the talent pool an organisation requires. The process as follows.

•  Talent Planning - This is the basic process of identifying the talent resources an organisation requires. 

•  Resourcing - Based on the planning, the organisation has to focus on resourcing the talent it needs. Talents can be obtained within the organization or externally. 

•  Talent Identification - Talent audits can be taken into considerations when identifying the talents. Could use performance management, appraisals, and training programmes to identify the talent. 

•  Talent relationship management - Ensure that effective relationship is built between the employee and job role and providing the opportunity to grow and treat the employee fairly to achieve the goal. 

•  Talent development - This is one of the key components in talent management. Should provide the environment to learn and develop and need to monitor do they really acquire the desired learning outcome. 

•  Talent retention - With a retention plan need to ensure the talented employees remain with the organisation and engaged with the job roles provided. 

•  Career Management - This process is to ensure the employees are given the opportunity to advance in the career and develop. This will ensure that enough resources are available for the organisation when it requires it. 

•  Management succession planning - This is to make sure that the organisation has the managers it requires in the future. 

•  The talent pipeline - This is the process of planning, resourcing, development, and maintaining the resource which an organisation needs. 

•  Talent Pool - This is the talent wealth which is owned by an organisation which is gained through the talent management process. 

(Armstrong, 2014)

Image 2: Talent Management pipeline (Armstrong, 2014)

Conclusion

Talent management is a very important area in the Human Resource Management. This plays a vital role in the organisation. Any orgnisation would not want to cease trading as soon as the key person or the most important person leaves the company. All department has to run smoothly despite any sudden change. Talent management helps every organisation to plan the future.

There are flaws in this process too. There are chances that the wrong person gets picked up by the organisation or not giving the opportunity to the right person. There are many examples in the business world where pure talents are discarded and later on these discarded talents have emerged as a big power in the business world and some instance they have become a super competitor too.
Despite these flaws yet the Talent Management is a vital process in any organisation.

References: 

Armstrong, M., 2014. Armstrong's Handbook of Human Resource Management Practice, 13th edition, London. KP.

https://dictionary.cambridge.org/dictionary/english/talent

Image 1: www.gograph.com
Image 2: Talent management pipeline, Armstrong M. 2014, A Handbook of Human Resource Management Practice, 13th edition, page 267.