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Define talent management.
In our company, we use the term talent management specifically when talking about developing and retaining our current employees. I know other companies use it to refer to integrating and attracting new employees, too. I have also heard the term "war for talent" in relation to the latter. How do you define talent management? What does it mean to your company? What else do you refer to when talking about talent management?
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4 Answers
Jane:
I tend to define it in the broadest context. By that I mean the aquisition and development of talent so that would include recruitment, selection, training, succession planing and actually future planning to identify key needs in the future and build my "pipeline.
On my website I have some articles about building an employment brand, which I also discuss frequently on my blog.
To me the "war for talent" is what you do when you don't have a strategy. I prefer to win without firing a shot....
Hi Jane,
For recruitment we have seperate strategies and policies and talent management is only used in the context of current employees. Having said that, in recruitment procedures it is always wise to look forward and assess not only current needs/opportunities but also future needs/opportunities, both for the company and for the candidate.
We see "talent management" as the process of identifying talent, engage them to our business, train and develop them and promote them. Of course, this also links into our succession planning.
The "war for talent" can, in my view, not only be won by having a talent management strategy in place. You need to be a general good employer to win that war, and being a good employer refers to all your HR practises (including Learning & Development, Compensation & Benefits, Corporate Social Responsibility and Communications). Employer Branding is essential and these are just a few HR ingredients as to what should be included in your Employer Branding Strategy.
Hi Jane,
It the company's overall strategy for ensuring they have the talent to execute their business plan. It addresses shortage of skills and how the organization is going to fill the gaps. It leads to the development of programs, in compensation, benefits, training and development, assessment of skills on hand, succession planing, and performance management.
HI Jane,
Though the term - "talent" means to be very simple in the general term, but in the context of HRM, it is having its defined meaning.
Generally, it refers to the manpower of an organization. Earlier, we were pronuncing employees as manpower. This seems to be very ingenuine and unsound when we do treat humanbeing as power. Then came the word personnel management & then Human Capital management. Recently, we do pronounce it talent management, which seem to be very sound enough in the context of HRM. We ofteen use the word 'talent acquisition' in the context of 'Recruitment & Selection'.
S.P. Dash,
Asst. Manager - HR.
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