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B e f o r e g o i n g i n t o t h e d i s c u s s i o n o n Ta l e n t
Management, it would be apt to understand
t h e w o r d “ Ta l e n t ” . ” . Ta l e n t i n g e n e r a l t e r m
refers to the capabilities, skills or the art, a
person possess in a particular field. It also
refers to those people who have high
potential, scarce knowledge and skill or who
can successfully bring about transformation
and change in the organization “Keeping
P e o p l e W h o K e e p Yo u i n B u s i n e s s ” , a t a l e n t
is not rare and precious. Everyone has talent
– t o o m a n y t o p o s s i b l y n a m e a l l . Ta l e n t i s
behavior; things we do more easily than the
n e x t p e r s o n . We s p e a k o f “ n a t u r a l b o r n
talent” but those with a gift, knack,
ability or flair for something can refine and
develop that talent through experience.
Ta l e n t , h o w e v e r, c a n n o t b e t a u g h t . C o m i n g t o
t h e w o r d Ta l e n t M a n a g e m e n t i n a n
Organisation, it refers to those special steps
an organization adopts to recruit, develop
and retain its pool of top talent. The steps
adopted should normally be creative and
s h o u l d n o t p r o j e c t b u r e a u c r a c y. Ta l e n t
Management also denotes a deliberate
approach taken up by an organization to
attract, develop and retain people with the
aptitude and abilities to meet not only the
current requirements but also future
organizational needs.
It is an accepted truth that turnover will
happen and companies need to device a
strategy to curb unprecedented turnover from
a ff e c t i n g o r g a n i s a t i o n a l s u c c e s s .
To d a y, c o m p a n i e s h a v e b e c o m e f i e r c e l y
competitive when it comes to attracting and
retaining talent. According to Branham, 75
per cent of the senior executives admit that
e m p l o y e e r e t e n t i o n i s a m a j o r c o n c e r n t o d a y,
the obvious reason being the ‘increasing rate
of turnover
This dynamically changing and volatile
demand-supply equation with such erratic
attrition trends and cut throat competition has
led organisations to focus on mechanisms
pertaining to attracting and retaining talent.
I n t o d a y ’s t a l e n t - h u n g r y m a r k e t s c e n a r i o , o n e
of the greatest challenges that organizations
are facing is to successfully attract, assess,
t r a i n a n d r e t a i n t a l e n t e d e m p l o y e e s . Ta l e n t
Management encompasses in itself the entire
process of Planning, Recruiting, Developing,
Managing, and Compensating employees
throughout the organization..
Organizations have realized the need for
talent management and are now focusing to
develop and retain the existing talent in their
organization rather than trying to acquire a
new talent because the cost of identifying,
developing and retaining the talent internally
i s m o r e c o s t e ff e c t i v e i n s t e a d o f r e p l a c i n g t h e
talent which is lost from external market
Despite intense competition being the key to
market development and success,
organisations have failed to identify some of
the major reasons which highlight why ‘good
performers’ leave
One major reason why people leave their
o r g a n i s a t i o n i s b e c a u s e o f t h e o r g a n i s a t i o n ’s
failure to bring about a correlation between
pay and performance. Human Resource
experts in the industry believe matching the
right blend of talent with the right job profile
can lead to superior performance.
I T TA K E S Ta l e n t t o s p o t Ta l e n t ! A t o n e d e a f
will never be able to appreciate the music of
maestros. Only a seasoned jeweller would
know that all that glitters is not real! And,
only those who can recognise the worth of a
diamond can value it, for others it's just a
s t o n e ! Ta l e n t i s d o i n g e a s i l y w h a t o t h e r s f i n d
d i ff i c u l t
Every business unit is making sure that they
can respond and withstand the challenges of
t a l e n t c r i s i s b y d e v e l o p i n g a n e ff e c t i v e t a l e n t
management strategy like identifying the key
talented people in the organization,
cultivating and developing the skill of their
present workforce and retaining highly
talented employees by protecting them from
competitors.