Talent Management

Talent management is a systematic process to secure, develop and utilize general and targeted individual competencies and organizational capabilities for creating sustainable value for multiple stakeholders.

What is Talent Management? - Definition and Scope


Often companies focus mainly on two HR interventions when defining their talent management strategy : i) Recruitment and ii) Retention. (Deloitte)

“The integrated set of resources, processes and values designed to attract and engage key talent to drive business priorities.” (Deloitte)

Talent management is a systematic process to secure general and targeted individual competencies (what people know, do and value) and organizational capabilities (just not person, the process) that creates sustainable value for multiple stakeholders (emplyees, customers, etc.). (Dave Ulrich)

Ulrich's definition includes development of talent also. If some people feel it does not, then we need to include the activity of developing competencies and capabilities in the definition of talent management.

I propose the following definition.

Talent management is a systematic process to secure, develop and utilize general and targeted individual competencies and organizational capabilities for creating sustainable value for multiple stakeholders.

Talent Management Activities


Making a case of talent management process in the HRM processes
Building teamwork among talented persons
Aligning the human resouce with strategy of the organization.
Assessment of talent periodically
Developing future talent (competencies and capabilities)
Providing space for diversity. Value diversity with unity.
Matching people with positions so that talent finds adequate role.
Building adequate human resource pool. Developing substitutes well in time.
Building technology competence and connectedness among human resources
Making human resources well versed in business processes
Measurement of results
Cooperating with line management and advising them in talent management issues.



References

Dave Ulrich, HR Transformation

Deloitte Touche, http://www.deloitte.com/view/en_LU/lu/services/consulting/hcas/press-release/465d483cc320e110VgnVCM100000ba42f00aRCRD.htm

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http://knol.google.com/k/narayana-rao/talent-management/2utb2lsm2k7a/1673#
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