subject: Maximizing Power By Effective Talent Management Strategy [print this page] A business cannot be taken to the next level if it does not have enough talented people around. The key is to have the right people at the right place and continuously train and develop them to perform their best. Talent management is the basic requirement to identify the skill gap, fill the right place with the right person, retain talent and manage succession. It also refers to the process of attracting highly skilled employees. It is a never-ending process that helps you sustain and remain ahead in business.
Usually associated with matching roles and people, it is a competency-based management process that involves assessing, acquiring, developing aligning the right talent to meet business objectives and drive it to the next level. In the times of economic uncertainty, talent management process is the key strategy to fill the gap with the right person. It manages the entry and exit of employees and their development and performance. Right from recruitment, selection, orientation, placement, involvement, person-environment fit, competency assessment, development opportunities, mentoring, role clarity, performance agreements, feedback and recognition and reward.
No resource is more important than the people in your organization. If you wish to stay in business in these highly uncertain economic conditions, you simply cant afford to ignore this process. In order to drive your business performance to the next level, you need to design an effective talent management strategy to undertake the process and take your business in the right direction. For this purpose, you can also seek professional expertise. The management consulting firms are well aware of the recent trends in the industry and best practices throughout. They can identify, develop and retain talent and plan the management succession too.
Because they work with various organizations around the world, they understand the issues and concerns in your company, therefore, can undertake each and every step carefully right from designing the strategy to identifying the specific actions. The process of talent management includes succession planning, selection systems, career planning and development and competency modeling. In the current economic conditions, many organizations around the world have felt the need of this process in order to deal with the constant change in the work and the workplace. The management consultants profile the requirements of the key positions in the organization so that they can be filled with just the right persons. Creating the right fit between the job vacancy and persons skills and experience is the main aim of the process.
