The Importance Of Talent Management

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In the present era the biggest challenge for firms is to attract and retain the best workforce available. Getting right people to work has always been difficult for firms, but in recent years it has become really tough specifically talking about technical sector, requiring highly skilled and specialized workforce. This issue becomes more critical for initial level startup firms due to funding limitations as the salary and packages offered by larger organizations are unbeatable for such startups, leading to higher iteration rate and failure to attract new talent.
The worldwide manpower problem is getting widened day by day. Organizations are struggling hard to find people equipped with necessary skills and quality
As per The Hays Global Skills
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Applying career steering and individual branding strategies from the initial stage. Employees should be involved in the talent management and hiringt process to a greater extend as much as possible. It shoul begin with probing to find out what attracted them to the present organization, what fascinates and motivates them, and what keeps them engaged. Employee development is also important consideration; it’s essential to training, higher education opportunities, and coaching programs to the manpower. By allowing prospective hires and employees knowhow about organization will also help them plan their preferred path, set substantial aims, and by providing support to help them attain those targets, organisations will help attract talent and increase engagement and …show more content…
Recruiting the right employees suitable for both a skills and culture fit. When trying to drawing new talent a focal point on both aspects is important to success.Some people are great performers and organizations would be lucky to hire them, but in case they are not suitable for the culture of organization then in that case they are not likely to give expected level of maximum performance or retention. Therefore by understanding organizational culture and interviewing and selecting the right talent in the first place, firms are getting an upper edge in creating up a relationship that can be everlasting.
Developing Talent in the Workplace
Developing talent in your business is part of the larger talent management process that occurs over the years. In a “global and virtual workforce,” says Nancy R. Lockwood in “Talent Management: Driver for Organizational Success,” your employee base is increasingly diverse. This new diversity opens up opportunities to develop talent to achieve your vision. Developing talent also means projecting the skills you will need in the future and making sure those talents are there when shortages are projected.