What is talent management?
Talent management is the comprehensive process of getting on board the talents that bring value to the organization, retention, and motivation.
What are the functions of talent management?
The functions of talent management are as follows:
- Establishes a future-ready workforce with the right skills, competencies, and knowledge to increase the organization’s productivity .
- Attracts potential candidates and retains them by providing them with a healthy work environment.
- Practices proper time management to reduce wastage of time and resources, which is not cost-effective.
- Enhances employee retention and engagement.
- Ensures growth and innovation in the organization.
What is the role of HR in talent management?
Talent management focuses on the day-to-day activities of these important activities.
Recruiting: By using an applicant tracking system, HR leaders can manage the workflow of the interview process and carefully interview applicants to select the strongest candidates.
Performance Management: HR technology and service solutions can provide regular
review processes between management and staff, allowing employees to get feedback on what’s going well and where they need to improve their performance.
Career Management: Building on the information collected during annual reviews, companies can learn more about employees’ strengths and interests, and HR leaders can work with employees on long-term career development plans.
Leadership Development: Once the high-performing individuals are identified through talent management solutions, HR leaders can focus on training, stretch assignments, and mentoring to prepare them for future roles.