There are many different definitions of talent management and some might think it is another one of those pesky Human Resources terms, but we definitely do not think it is; let us explain why and what it is.
What is talent management?
In order to get the grasp around what talent management is think about it as a shift in thinking in relation to hiring, training and retention of talented employees. Thereby meant that the focus has shifted from “Is this person a great fit for this role?” to “Is this person not only a great fit for this role, but also for the company as a whole and for future roles they may inhabit?”; hence, a more holistic strategical way of thinking about hiring, training and retaining.
Why is it important?
Talent management can be an effective business strategy when executed correctly. It enables companies to retain their topmost talented and skilled employees as well as it will ensure the attraction of possible new skilled employees. If you state that employees at your company have the opportunity to develop professionally, you will attract the best talents.