Talent Management
Chapter 1
INTRODUCTION TO THE STUDY
Talent Identification and Management- An Introduction
Talent identification and management implies recognizing a person 's inherent skills, traits, personality and offering him/her a matching job. Every person has a unique talent that suits a particular job profile and any other position will cause discomfort. It is the job of the Management, particularly the HR Department, to place candidates with prudence and caution. A wrong fit will result in further hiring, re-training and other wasteful activities. Talent Management is beneficial to both the organization and the employees. The organization benefits from: Increased productivity and capability; a better linkage between individuals ' efforts and business goals; commitment of valued employees; reduced turnover; increased bench strength and a better fit between people 's jobs and skills. Employees benefit from: Higher motivation and commitment; career development; increased knowledge about and contribution to company goals; sustained motivation and job satisfaction.
Talent signals an ability to learn and develop in the face of new challenges. Talent is about future potential rather than past track record. So talent tends to be measured in terms of having certain attributes, such as a willingness to take risks and learn from mistakes, a reasonable (but not too high) level of ambition and competitiveness, the ability to focus on ‘big picture’ issues, and an awareness of their own strengths, limitations and impact on others.
Several talent management processes need to be in place on a strategic level in order ensure its success. Such processes/strategies include talent identification, recruitment & assessment, competency management, performance management, career development, learning management, compensation, succession planning etc.
Understanding Talent
The idea of developing talent is not a new concept in any business. In fact every successful company that
INTRODUCTION TO THE STUDY
Talent Identification and Management- An Introduction
Talent identification and management implies recognizing a person 's inherent skills, traits, personality and offering him/her a matching job. Every person has a unique talent that suits a particular job profile and any other position will cause discomfort. It is the job of the Management, particularly the HR Department, to place candidates with prudence and caution. A wrong fit will result in further hiring, re-training and other wasteful activities. Talent Management is beneficial to both the organization and the employees. The organization benefits from: Increased productivity and capability; a better linkage between individuals ' efforts and business goals; commitment of valued employees; reduced turnover; increased bench strength and a better fit between people 's jobs and skills. Employees benefit from: Higher motivation and commitment; career development; increased knowledge about and contribution to company goals; sustained motivation and job satisfaction.
Talent signals an ability to learn and develop in the face of new challenges. Talent is about future potential rather than past track record. So talent tends to be measured in terms of having certain attributes, such as a willingness to take risks and learn from mistakes, a reasonable (but not too high) level of ambition and competitiveness, the ability to focus on ‘big picture’ issues, and an awareness of their own strengths, limitations and impact on others.
Several talent management processes need to be in place on a strategic level in order ensure its success. Such processes/strategies include talent identification, recruitment & assessment, competency management, performance management, career development, learning management, compensation, succession planning etc.
Understanding Talent
The idea of developing talent is not a new concept in any business. In fact every successful company that
Bibliography: * Kothari C.R., Research Methodology, New Age International Publishers, New Delhi, 2009 edition.