“Talent Management is a strategic process of planning for manpower, Recruitment,

selection, provides support for training and development; manage performance for

and future needs.” Talent Management brings the best talent in the organisation and

S
n
a
m
fo
competent skills, succession planning and benefits to meet the organisation’s current

r
e
p
c
u
/b
ts
lig
creates main pillar for success. It is the process of retention of high potential staff.
Talent Management is ensuring that an organisation has the high skill sets as it
requires for its business strategy. Talent refers to the power to learn and develop the
success factor the new challenged economy. Talent is all about future potential and
development of the employees.

TALENT
MANGEMENT

The main importance and benefits of Talent management in an organisation is to

offer such as employee engagement, retention, aligning to strategic goals in order to
indentify the future potential and bridging up the gap for effective competent skills of
the employees in the organization, Talent management also increases productivity,
creates culture of excellence and much more. Today in the talent hunger scenario,
organisations are surviving in the tough business competition and they all need is
only the star performers which is known as ‘Talent’, this all can be done by the
Talent Management, as organisation have realized the need for talent management
and are now emphasis to retain their existing talent .Talent management is not only
retaining employees, but also letting them build up capabilities for the organisational
success.
w
k
“Business is an activity in which goods and services are produced and sold in return
of money.” It is carried out on a regular basis with the main objective of making profit.
Today Businesses are very different as compare to the businesses of decades ago,
this change is develop only through technology and globalisation. Today businesses
is not only trade of goods and services, but the internet revolution has greatly
changed the total perspective of business. The development of technology with the
WWW (World Wide Web) make ease of transfer of goods and services, with the help
of globalisation businesses are free to choose where they want to operate from.
Globalisation provides them efficient and cheaper market for trade helps in making
huge profit and makes businesses as efficient to work in multi nations. In the present
competitive scenario businesses driven by the best talent to reach at the peak point
of the success. Modern businesses act as vehicles of innovation, creation and
economic development. Talent management helps to enhance the growth of
businesses. Talent is the only mantra for business success. Thus the twenty first
century has transformed the 360° of businesses.

‘Talent war is endless’. Talent management as widely practiced in the business

organisations and becoming most prominent solution to sustained business
organisational success. Organisations all around the globe always try to hire the best
talent for making their work efficient and competent. Today practises of talent
management has become the key factor for getting success in the organisation.
Talent management system basically focuses on talent pool rather than the specific
individual employees for expanding the reach of succession planning in the business
organisations. In this present era of competitive world organisations believes on
integrated talent management system will succeed if the organisations sticks fast to
certain talent management practices.

1. Organisation must stick with the objectives and business strategies.

2. Develop pool of talent through social recruiting strategy.
3. Target on talent as well as on knowledge also.
4. Furnish talent with proper feedback and performance evaluation.
5. Provide enough ad-hoc technology for being competent in the tough market.
6. Appreciation and reward for best performing talents in the organisation.
7. Provide promotional, carrier planning and succession planning opportunities.
Building Blocks Of Talent Management :

Selective Hiring

Training & Development Performance Management

competencies Rewards & recognition Succession Planning

1. Selective Hiring: In in this era of knowledge based workforce organisation

believes on selective hiring, they first hire best people and then staff them and
making itself competent with the unique skill set. Selective hiring is comes on
priority of talent management.This is the win win situation for both the
oragabisation and for the candidate.
2. Intensive training and development: In this competent and challenging
world of business training plays an important role. Training for employees is
like the blood supply to body, which makes fluent and smooth functioning of
work and it enhances the quality of work and employees too. Training is the
first stage of development that leads to the qualitative and quantitive
advancements. So talent management must provide proper training and
development programmes for their employees in the organisation.
3. Performance Management : Today,talent management works towards
facilitating and improving the performance of the employees by providing a
conducive work environment and also providing maximum opportunities to the
employees. Performance management bridges the gap between the present
performance and the desired performance through evaluation and analysis to
make their employees best fit. 
4. Competencies: Core competent talents are main strengths or strategic
advantages of a business. Core competencies are the combination of
talent knowledge and technical capabilities that make the talent and
organisation both competitive in the business environment.Talent
mamangement should focus on core competencies of employees at the
time of hiring and evaluation which helps employees to grow faster
towards qualitative and quantitative improvements.
5. Rewards and recognition: Today talent management encourages the
reward and recognition policies for the emoployees in the orgnaisation as it is
the most powerful tool to motivate and improve performace. With the help of
monetary and non monetary rewards an employee can be recognised very
well and this recognition makes an employee more effective and efficient
towards their performance.
6. Succession Planning: The main building block of talent management is
succession planning which ensures that employees are hired for vacant key
positions in the company. Talent Management regularly identify high-value or
high-potential talent for the organisation and give primary emphasis on
internal promotion and mobility for for organisational success.

The connection between impact of TM Practices on improving business

performances.

The most innovative and intense business strategy cannot succeed without the
right people in the organisation. Integrate the best talent is first and important
step towards the success. Talent management basically refers to strategic
schedule of human resource so that it can maximize workforce productivity.Talent
management covers all the function like recruiting, selection, training and
development and succession planning of the talent in respect to achive the
organisational objectives and win the lagre market and profit. It mainly focuses on
high potential and quality workforce to improves business performance of the
organisation, taht is why there is high impact of talent management on improving
business performance. Talent management is responsible for the ultimate growth
of business as it is completely works for the improvement of the workforce and
development of the business. In a competitive market, talent management is the
primary driver for organizational success, thus it is the basic element at realize of
goals and access to effective performance of the business.