Talent Management: The Key to Organizational Success

Abstract

Talent management describes the process through which employers of all kinds of firms, government, non-profits anticipate their human capital needs and set about meeting them. Getting the right people with the right skills into the right jobs, a common definition of talent management is the basic people management challenge in organizations. While the focus of talent management tends to be on management and executive positions, the issues apply to all jobs that are hard to fill. A successful talent management process plans for organizational transactions. The most effective way to tackle talent management is to use a system approach, ensuring that the different elements and pieces of the process are working in connect to acquire integrate talent into the system. Several issues support the need for this system. Employing talent is the processing and administrative steps, but still important. Timing and convenience are the concerns as new talent joins the organization. To ensure that performance is discussed, recognized, rewarded, and understood appropriately, many organizations are focusing renewed efforts on performance management systems. Talent management is fast becoming a critical strategic objective for growing organizations. This responsibility represents an excellent opportunity to create value. A talent management system is also important. The importance of hiring competent talent is evident in any direction. Talent is king now and in the future. It is the last source of competitive advantage.

Keywords: Talent, Human Capital, system approach, retaining talent, attracting talent, rewarding performance, competitive advantage.