Description
Talent management implies recognizing a person's inherent skills, traits, personality and offering him a matching job. Every person has a unique talent that suits a particular job profile and any other position will cause discomfort.
Talent management implies recognizing a person's inherent skills, traits, personality and
offering him 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.
In these days of highly competitive world, where change is the only constant factor, it is
important for an organization to develop the most important resource of all - the Human
Resource. In this globalize world, it is only the Human Resource that can provide an
organization the competitive edge because under the new trade agreements, technology can be
easily transferred from one country to another and there is no dearth for sources of cheap
finance. But it is the talented workforce that is very hard to find. The biggest problem is how to
retain the present workforce and stop them from quitting
Importance
First, let us look at some of the reasons for the importance of talent management.
? Globalization:
Now for any jobseeker the whole world is the potential place to find employment. One
can know the opportunities available in any part of the world easily and the number of talent
seekers has also increased.
? Increased Competition:
Increased competition in the market place has necessitated the need for consistently good
performance on the side of organizations. These have made the companies to put in all efforts to
hire and retain the best talent in the respective field of operation.
? Increasing Knowledge:
The knowledge era has necessitated the retaining of those talents which have the ability to
assimilate new technologies and knowledge, which are growing at a pace never seen before.
How Talent Management important for an Organization:
1) Cost cutting:
One experienced & skilled employee can replace instead of two or more employees.
Organization can save hundreds of thousands of dollars.
2) Maximum Output
Organization can make maximum out put in minimum resources.
3) Time Saving technique
It is a time saving technique. Because for every job a skilled person can place. It’s
helpful to complete job in minimum time
4) Perfection increase
Due to skilled employee Perfection in work is increase. There is low probability of
mistakes.
How Talent Management important for an Employee:
? Recruitment
It’s ensuring that right people are attracted to the organization, due to providing
exposure for there skills.
? Retention
Developing and implementing practices that reward and support employees.
? Employee development
Ensuring continuous informal and formal learning and development.
? Leadership and "high potential employee" development
Specific development programs for existing and future leaders.
? Performance management
Specific processes that nurture and support performance, including feedback/measurement.
? Workforce planning
Planning for business and general changes, including the older workforce and current/future
skills shortages.
Culture
Development of a positive, progressive and high performance "way of operating".
5.2 The Challenge
5.3
5.4 Why Talent Management?
Workforce cost is the largest category of spend for most organizations. Automation and
analysis of your recruiting and hiring processes provides the immediate workforce visibility
and insights you need to significantly improve your bottom line. Performance management
provides the ongoing processes and practices to maintain a stellar workforce.
Today, many organizations are struggling with silos of HR processes and technologies. The
future of talent management is embodied in solutions designed from the ground up to provide
business-centric functionality on a unified talent management platform.
Since nearly all competitive business factors have become commoditized, talent is what
ultimately drives business success and creates value. Leading organizations rely on Taleo
solutions and services to assess, acquire, develop, and align talent with business objectives
while significantly reducing process costs, improving quality of hire, reducing risk, and
achieving higher levels of performance.
Though it may seem intuitive, it is worthwhile to articulate the fundamental significance of
successful talent management practices:
? The key enabler of any organization is talent.
? The quality of your people is your last true competitive differentiator.
? Talent drives performance.
Talent management requires strong executive support, along with systems and processes all
directed towards having the right talent doing the right work at the right time. That’s when
talent truly drives higher business performance.
doc_114707503.docx
Talent management implies recognizing a person's inherent skills, traits, personality and offering him a matching job. Every person has a unique talent that suits a particular job profile and any other position will cause discomfort.
Talent management implies recognizing a person's inherent skills, traits, personality and
offering him 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.
In these days of highly competitive world, where change is the only constant factor, it is
important for an organization to develop the most important resource of all - the Human
Resource. In this globalize world, it is only the Human Resource that can provide an
organization the competitive edge because under the new trade agreements, technology can be
easily transferred from one country to another and there is no dearth for sources of cheap
finance. But it is the talented workforce that is very hard to find. The biggest problem is how to
retain the present workforce and stop them from quitting
Importance
First, let us look at some of the reasons for the importance of talent management.
? Globalization:
Now for any jobseeker the whole world is the potential place to find employment. One
can know the opportunities available in any part of the world easily and the number of talent
seekers has also increased.
? Increased Competition:
Increased competition in the market place has necessitated the need for consistently good
performance on the side of organizations. These have made the companies to put in all efforts to
hire and retain the best talent in the respective field of operation.
? Increasing Knowledge:
The knowledge era has necessitated the retaining of those talents which have the ability to
assimilate new technologies and knowledge, which are growing at a pace never seen before.
How Talent Management important for an Organization:
1) Cost cutting:
One experienced & skilled employee can replace instead of two or more employees.
Organization can save hundreds of thousands of dollars.
2) Maximum Output
Organization can make maximum out put in minimum resources.
3) Time Saving technique
It is a time saving technique. Because for every job a skilled person can place. It’s
helpful to complete job in minimum time
4) Perfection increase
Due to skilled employee Perfection in work is increase. There is low probability of
mistakes.
How Talent Management important for an Employee:
? Recruitment
It’s ensuring that right people are attracted to the organization, due to providing
exposure for there skills.
? Retention
Developing and implementing practices that reward and support employees.
? Employee development
Ensuring continuous informal and formal learning and development.
? Leadership and "high potential employee" development
Specific development programs for existing and future leaders.
? Performance management
Specific processes that nurture and support performance, including feedback/measurement.
? Workforce planning
Planning for business and general changes, including the older workforce and current/future
skills shortages.
Culture
Development of a positive, progressive and high performance "way of operating".
5.2 The Challenge
5.3
5.4 Why Talent Management?
Workforce cost is the largest category of spend for most organizations. Automation and
analysis of your recruiting and hiring processes provides the immediate workforce visibility
and insights you need to significantly improve your bottom line. Performance management
provides the ongoing processes and practices to maintain a stellar workforce.
Today, many organizations are struggling with silos of HR processes and technologies. The
future of talent management is embodied in solutions designed from the ground up to provide
business-centric functionality on a unified talent management platform.
Since nearly all competitive business factors have become commoditized, talent is what
ultimately drives business success and creates value. Leading organizations rely on Taleo
solutions and services to assess, acquire, develop, and align talent with business objectives
while significantly reducing process costs, improving quality of hire, reducing risk, and
achieving higher levels of performance.
Though it may seem intuitive, it is worthwhile to articulate the fundamental significance of
successful talent management practices:
? The key enabler of any organization is talent.
? The quality of your people is your last true competitive differentiator.
? Talent drives performance.
Talent management requires strong executive support, along with systems and processes all
directed towards having the right talent doing the right work at the right time. That’s when
talent truly drives higher business performance.
doc_114707503.docx