Talent Management is a distinct function of Human Resource Management. HRM's objective is to hire the right people and manage them effectively through thoughtful policies and procedures. Talent Management focuses on ways to develop employees by mapping out career paths and training programs. mba in business analytics in bangalore
Talent management is a continuous and systematic process that focuses mainly on:
- Identifying the vacant position.
- Hiring a suitable person.
- Developing their skills.
- Retaining the person to achieve long term business objectives.
Components of Talent Management:
1. Planning According to needs:
- Identifying human Capital recruitment
- Accurate job descriptions
- Proposals for top recruitment.
2. Attracting top talents:
- Campus recruitment.
- Applicant tracking system (ATS).
- Social media recruitment.
- Referral programs.
3. Selecting the suitable candidates:
The selection process includes written tests, interviews, and scrutinizing the most suitable candidates. You need to be transparent with the process. To hire the right candidate, assess them well based on their skills. mba in business analytics bangalore
4. Developing the candidates:
- Orientation and onboarding programs.
- Enhancing the skill of employees.
- Counselling, guiding, and educating employees according to the job profile.
- Job rotation, like shuffling within the team with different roles and projects to keep the workforce rejuvenated.
5. Retaining your valued employees:
- Participative decision-making.
- Recognizing an employee's contribution and efforts.
- Promotions and employee perks that help.
Employee engagement plays a key role in employee retention. With improved engagement, companies can meet the desired bottom line.
An HR software and talent assessment tool helps you assess your organization's capability to maintain the goals.
What you sow and what you are likely to get out from depends on how you mould everything. In the same way, if you execute the program and do not take the necessary steps, then you might not get the desired result. A successful talent management system has the best of components, which are solid and well-directed. Be sure that placing a candidate at the wrong post can amplify your problems regardless of their competencies. Every organization needs its best talent for survival and to be ahead in the competition. Talent is the most critical factor that drives an organization and takes it to the level it wants to be. mba in hr bangalore
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