Why Talent Management is an important Business Strategy

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Pranay Sharma

 Human Resources

Rosa Power Supply Company

Why Talent Management is an important Business Strategy

Talent Management has become one of the most promising and pressing topic in organisation because of  its “Variety & Mix“, as we have many generations working together simultaneously under one roof. The ongoing retirement of baby boomers, widening skill gap and rapidly changing lifestyles has also pricked management to look it more from a “Strategic Point” of view. We are living in a Knowledge economy where everything is just a Google away and with fierce competition all around the globe it is becoming more difficult to keep the Talent then to hire.

Workforce demographics are evolving and so do the workplace environment. In today’s scenario every organisation is looking for a source of increase in value creation, valuable contribution a Talent can bring to the organisation.

Talent Management is about managing demand, supply, and flow of talent within or outside the organisation; hence it needs an integrated approach. It starts from the recruitment moves to orientation where a Talent gets introduced to the organisation and in between its all about recognising and addressing the constant challenge to have the right people at the right place until separation.

There is a great need for “Managers & leaders” to rethink on Talent Development. Every Manager should be responsible for attracting, developing, exciting and retaining talented people. Every Manager should think people as partners for growth. Every Manager should sense that there are no low performers but not good Talent Managers. Developing happens through a series of Job-rotation, Enlargement, hot and candid assignments with dedicated coaching & mentoring. Consistency is required in identification, development, movement of talent across the organisation. One should understand the fact that not everyone needs a leader, some people dislike the idea of being led by someone and they are the ones which are the real source of increase in value creation of the organisation.

 

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