In this fast evolving business world, the conventional way of human capital development may soon become archaic and counter productive since, over time, competencies become obsolete as new and modern ways of doing business keeps emerging. Talent Management then becomes the sustainable way of ensuring that the human resources within the organization continuously have the required competencies needed for unceasing business growth.
‘Talents’ in a workplace refers to the employees and their innate knowledge, skills, and competencies. Talent Management is therefore a continuous process of analyzing, developing, and effectively utilizing talents to achieve business goals.
I have developed the Talent Management Process below, which I believe can help in having a robust talent management system in your workplace:
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The maximization and continuous management of talents in any organization should not be left in the hands of the HR Manager alone; it is the collective responsibility of the management team.
Some merits include:
- Square pegs in square holes: That is, the right person is placed on the right seat.
- Staff motivation becomes easier as management will have a better insight into the kind of employees they work with especially their strengths, weaknesses, likes, dislikes, career paths, interests, abilities, and development needs.
- Staff retention is achieved as staff turnover is reduced
- Productive and quality workforce
- Training and development becomes strategic
- Builds confidence of the employees
- Increased profitability for the company
For employee engagement to be possible, therefore, talent management cannot be detached from the process. The benefits far outweigh the efforts.
Join me tomorrow as we explore how a ‘Career Advancement’ culture in the organization boosts Employee Engagement.
Do have a productive day.