Talent Management: A Key for Success of an Organization

Abstract

Talent management is the science of using strategic human resource planning to improve organizational value  and to make it possible for organizations to reach their common goals. The name itself suggests that managing the ability, capacity, competency and power of employees to perform within an organization. Human resource management would ideally include talent management in an organization; however, some organizsations have human resource departments which are highly transactional instead of being strategic and transformational. Talent management is the process which includes goals identifying, talent attraction, sourcing the talent, recruitment, selection of candidate, training and development, retention, periodical assessment, performance appraisal, career planning, succession planning, and exit stage. The main aim of this is to retain a top talent within an organization. The implementation of talent management programme could be expensive in terms of time, resources and financial costs. Lack of support from line managers can impede the level of commitment from employees.