TALENT MANAGEMENT HOW AFFECT IN AN ORGANIZATION


Talent Management

Is about taking a strategic approach to attracting, retaining, and developing a workforce—because running a company requires more than just hiring people who can perform specific tasks. Companies need to build a competitive workforce by sourcing in-demand skills, investing in continuous learning and skills development, and managing and optimizing performance.

The skills that a company needs evolve as the company grows. At Workday, we believe that applying a skills-based lens to optimize talent enables workers to meet changing business demands. At the same time, the approach to workforce management also needs to change.Jillian Ogawa(2020)

What is a talent management model? 

A talent management model is a structured framework that helps businesses make decisions about how to manage their people. This model typically involves a series of steps that align talent management with business strategy to optimize performance.

Recruit

Finding and luring gifted people to the company is the task of this step. It involves using strategic ways to find people who can meet the company's present demands while also advancing its future growth.


Hire

Finding and hiring the best applicants comes next after recruitment. To ensure that candidates are a suitable fit for the role and the company overall, this involves assessing them through interviews, tests, and background checks.

Develop

Development is a critical stage where employees receive training opportunities intended to improve their abilities and expertise. It's a critical phase that helps people advance with the business by preparing them for new responsibilities and tasks.

Engage

Creating a work environment where individuals feel connected to the organisation is the foundation of employee engagement. Making sure that workers feel: is part of this.
  • meaning in their work
  • clear about their roles and responsibilities
  • valued by the company

Recognize

Giving employees credit for their achievements and accomplishments is known as recognition. Formal recognition, incentives, or small acts of kindness can all be used to accomplish this. Among the best things that can motivate staff members is recognition, which also serves to reward hard work.

Retain

The goal of retention strategies is to keep important personnel in the company. It entails recognising and resolving the elements—career development opportunities, work-life balance, and compensation—that affect employees' decisions to stay.

Transition

During the transition period, personnel moves within or outside the company must be managed. Promotions, transfers, and even the off boarding procedures for departing employees may fall under this category. Stability and organisational expertise are essential for effective transition management.



TALENT MANAGEMENT STRATEGIES

  • First, having a distinct sense of purpose and direction. While it's true that everyone wants to get compensated for their work, competent workers also want to be a part of a company that shares their values and provides them with a sense of purpose and fulfilment. People are more ready to donate to an organisation when it has a defined mission and direction. Many organisations are now allowing their employees to donate time to non-profit organisations, or spend their off-work hours building houses for Habitat for Humanity.
  • Second: Handsome Management. An crucial component of the high-retention culture is interpersonal skills. Individuals want to feel that management values and cares about them. Poor "soft skills," however, are one of the main things that turn people off.
  • Third: Adjustable Benefits and Schedules to Meet Each Person's Needs. Nowadays, workplace flexibility is paramount. Benefits strategies that are tailored to each individual have long since outlived their usefulness. Workers, whether they are older, younger, single parents, part-time workers, or telecommuters, will migrate to a company whose benefit packages and timetables allow them to balance the demands of their lives.
  • Fourth: Be Open with Each Other. Humans are voracious information consumers who demand rapid access. Providing the appropriate information to the appropriate people at the appropriate time using the appropriate approach is highly valued in workplaces with high retention rates. Businesses that withhold information from their staff run the danger of undermining motivation and morale, not to mention jeopardising their capacity to quickly alter course in the market
  • A charged work environment is number five. People desire enjoyment in their jobs. They avoid dull, bureaucratic, and lifeless workplaces. High performing workplaces do not bother with the conventional methods of doing things because of this. They come up with inventive ways to make labour both physically and intellectually stimulating. Additionally, they solicit, consider, and act upon the opinions and recommendations of people who work for them.
  • A charged work environment is number five. People desire enjoyment in their jobs. They avoid dull, bureaucratic, and lifeless workplaces. High performing workplaces do not bother with the conventional methods of doing things because of this. They come up with inventive ways to make labour both physically and intellectually stimulating. Additionally, they solicit, consider, and act upon the opinions and recommendations of people who work for them.
  • The sixth is performance management. Finding skilled, motivated employees with positive attitudes and strong work ethics is getting harder and harder. It follows that performance management skills are crucial. A new set of abilities, instruments, methods, and procedures are included in performance management in order to match an individual's conduct with the objectives of the company.
  • Seventh: Acknowledgement and Prize. Every person deserves to feel valued. Programmes for rewards and recognition assist in addressing such requirement. Rewarding and recognising employees at work increases their output and loyalty and has the power to enforce positive behaviour that benefits the organisation,
  • Eighth–Training and Development. Many workers just want a paycheck, but the best workers want opportunity. They want to develop their skills and potential and enhance their ability to contribute and succeed. Training and development gives people greater control and ownership over their jobs, making them capable of taking care of customers and creating better management-employee relationships

Conclusion

Talent management processes contribute to Workforce planning and strategic planning. While workforce planning determines the what, where, when, and cost of employees needed to execute the business plan, talent management addresses how a company develops and maintains the talent needed. The same goes for how talent management relates to the company’s strategic plans—talent management shapes the talent strategy to meet performance goals that will support company objectives.

References
Jillian Ogawa (2020) Understanding the Basics: What Is Talent Management? (online)
available at https://blog.workday.com/en-us/2020/understanding-basics-what-is-talent-management.html

Shreeya Thakur(2024) Developing a Winning Talent Management Strategy(online)
available at https://unstop.com/blog/talent-management-strategy

Ivan Andreev(2021) Talent Management (online)
available at https://www.valamis.com/hub/talent-management

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