Talent Management

Oliver SNR says, " The world is always ready to receive talent with open arms."

T = Triumph, Success
A = Ability
L = Leadership, Taking lead always
E = Easiness
N = New-fangled, Novel, Creativity & Innovation
T = Time

Talent is person’s ability to do work easily and creatively, leading all together to achieve success within a time frame.

Is it near to precise?

Take any industry; companies are in war of hiring & attracting talents to organization.

No company wants to occur loss of talent merely for the cause of remuneration or job satisfaction. Let’s have a look in a word of industry called ‘ Talent Management’.

Basic word is employee retention in organization. Company spends a lot of money in training employees for the job. Loss of employee means disruption cost, quality cost, teamwork & morale cost or displacement cost. I am not talking in just monetary aspects. Especially in small companies, high employee turnover impact on team moral. Recruitment, selection and training costs are likely to be there.

General actions taken to avoid or minimize employee turnover are:

Hire in better way
Improve working condition
Care for remuneration and benefits
Provide better work opportunities and advancement
Change in locations if required as per employee’s needs

Talent management is kind of concentration on very important and crucial employee’s retention in organization. It is the process of ascertaining that the organization attracts, retains, motivates and develops the talented people it needs. It is not limited to the favored few but focusing on those people whose skill sets are crucial and rarely available and prospective to organization.

According to Capelli, "You can’t shield your people from attractive opportunities and aggressive recruiters. Thus your goal should not be to minimize overall employee turnover but to influence who leaves and when." Living reason’s analysis helps to strategies overall talent management.

What should be done for talent management?

Culture
Work culture plays vital role in organization. Make it very open with no boundaries. Develop your organization as a great place to work.

Nurture the crop you want
Hire only good quality people who are likely to succeed in the organization and stay with it for reasonable period of time. Investment in right product always produces gain irrespective of time frame.

Survival in space
When you are hiring talent, talent should be given chance to apply and grow skills. Provide autonomy & responsibility, attention & interest and challenge to the employee to nurture self and organization.

Reward Management
Reward management is an integral managerial part of talent management. Reward means monitorial benefits to the extent but not exactly up to that. Reward includes fame, security, designation, promotion, location preference and partnership.

Psychological impacts
Develop positive environment in the company. Freedom, autonomy, value for work or suggestions and best rewards creates positive relationships between employee and employer psychologically.

Keep door open
Although your talent moves out for prospects or better opportunities, always keep open door of your organization for them. You can always hire them back with additional skills and responsibility for higher package.

Let your talent’s mind free
Give a chance to your employee to balance personal life with work life. Care for employee’s family and personal life to make mind free for little tensions. Employee will not be able to contribute till he or she is not in perfect condition to do so. Never forget employee’s social life as well. Such kind of treatments are seen in BPO service providers organization where employees are promised to be shifted to day time work shift from night shifts in short time of period.

Keep pool chock-a-block
Always have sufficient talented chunk with you to save organization from crisis. Nurture your employees in a way to make everyone talent. Even if you loose few of them, you should not find yourself in crisis. Deal with excellent HR practice. Change a system of work so that you are less dependent on scarce skills.

"Everyone has a talent, what is rare is the courage to follow the talent to the dark place where it leads" says Jong. Thus it is responsibility of organization to identify and nurture talent in chunk of employees. Who knows, you may create different kinds of talent group from your total chunk?