Talent Management

Definition

Talent management is defined as the methodically organized, strategic process of

getting the right talent on board and helping them grow to their optimal capabilities
keeping organizational objectives in mind .
In other words talent management can also be referred to as the scope of human
resource processes to being able to attract, develop, motivate and also most
importantly being able to keep the employees who have a high working performance.
We can also say that talent management deals with attracting and retaining the
employees who add value to the organisation.

Key steps of talent management:

1. Step 1: Specify What Skills You Need.

2. Step 2: Attract the Right People.
3. Step 3: On board and Organize Work.
4. Step 4: Organize Learning and Development.
5. Step 5: Hold Performance Appraisals.
6. Step 6: Develop strategies to Retain Your Best Talent.
7. Step 7: Plan for Successions.

Advantages and drawbacks of talent management

Advantages of talent management

 Connecting and Sharing Data. The right TMS can integrate and align core HR
processes.
 Strategic Hiring Process.
 Improved Onboarding Experience.
 Retain Top Talent.
 Employee Development.
 Improved Employee Experience
 Increase Employee and Manager engagement.
Drawbacks of talent management

 The time, resources and financial costs associated to operate a talent

management program can be high
 Worker Conflicts
 Leadership Limitations because of the employees
 Can cause HR and Management Conflicts.