Why is talent management an important Business Strategy?

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Talent management, only two words but form the building blocks of an organization. Never dare to consider it a Human Resources jargon. It’s all about an organization’s commitment to recruiting, nurturing, and most importantly, retaining the best-in-class professionals.

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So, talent management is a ‘quite effective’ term when it sheds light on an organization’s commitment to recruiting, managing, nurturing, and retaining talented employees. It covers all the work processes and systems that are associated with retaining and nurturing a high-performing workforce.

If considered from an organization’s perspective, talent management is all about a business strategy that an organization thinks would assist it in retaining its best-in-class talent. Very much like employee recognition and employee involvement, talent management is an effective business strategy that assists in drawing the best-of breed talent amidst today’s talent-starved competitive job market.

Processes falling under a talent management system

If you want to approach talent management as a part of your entire business strategy, you must consider the following systems in order to recruit and retain the best-in-class talent.

  • Meeting for hiring planning
  • Developing job details
  • Writing job posts and hiring location placement for the job posting
  • Reviewing applications
  • Screening interview either through phone or online
  • Conducting in-house interviews
  • Reviewing credential and checking background
  • Giving the job offer
  • Taking care of the onboarding process
  • Providing on-the-job training
  • Setting goals and giving feedback
  • Taking care of career planning, promotions, transfers, and termination

Most of the time, a major chunk of these work systems are handled by an employee’s manager. HR, however, can offer necessary support, training, and other day-to-day interactions in order to ensure the success of a new employee coming from his/her manager.

HR or talent managers can take a lead in many other activities mentioned on the list, with hiring new employees and taking an initiative for employment termination to name a few. Further, taking lead in performance management system, career planning and employee mentoring falls within the purview of talent management.

Significance of integrating talent management wholeheartedly in your organization

As a business strategy, talent management should be integrated into all of the employee-centric processes within an organization. Drawing and retaining talented individuals, within a talent management system, is the responsibility of each member of the organization but mainly for managers who have talent working under them.

In bigger organizations, talent management needs Human Resources Information Systems (HRIS) that monitor the entire career trajectory of every employee and address all scopes available for every talented employee.

The world of talent management in the coming time

The growing demand for talent management is here to stay and gain momentum in the near future. The situation will call for expert talent management professionals who can manage things quite like a pro. And this is where comes the demand for certification. Studies prove that talent management certifications equip professionals better to take all things in their stride.

So, if you are a budding, or even an expert, talent management professional, do give certification a careful thought.