What Is Talent Management?

Gaining and retaining the best possible employees is something every company wants to do. The best way to accomplish this is by implementing talent management into the fabric of human resources. It may take a high level of commitment and planning, but the rewards can be astounding. From specific training, to motivation, optimizing each aspect of talent management allows for businesses and groups to reach their goals. “It is difficult to identify the precise meaning of talent management because of the confusion regarding definitions and terms and many assumptions made by authors who write about talent management” (http://www.irproje.com/media/userfiles/610013.pdf).

Most company’s Human Resource departments think of talent management as a roadmap,

“According to the Pricewaterhouse survey, only 34 percent of CEOs feel that HR is well prepared to capitalize on transformational trends, and 9 percent say it is not prepared at all” (https://tmod.jhu.edu/talent_mgmt/talent_mgmt.cfm, pg. 2, para 1). Preparing the roadmap for the scavenger hunt is the first step in building an effective talent management program. In order to successfully retain the present and future goals, “Use that vision to identify skills and competency people need to make the company successful, the build your hiring, training, development and incentive programs around with it”, Cristin Stirchio, global head of talent for Cognolink, (https://tmod.jhu.edu/talent_mgmt/talent_mgmt.cfm, pg 2, para 6). If the CEOs who found their HR leaders utilizing the talent management guide were aware of the step by steps, they understand that by creating a plan has many parts. This can help leadership understand how in the beginning stages of talent development coincide with the success of talent management through strategy. HR will be able to merge its development into the map for the

Why do businesses not invest more time and money into this? Sometimes business only see as far as today’s processes, which can be very detrimental. Doing this leaves no room for growth. “Talent Management process is very complex and is therefore, very difficult to handle. The sole purpose of the whole process is to place the right person at the right place at the right time. The main issue of concern is to establish a right fit between the job and the individual.”(