Talent Management

Description of Talent Management. Explanation.

Definition Talent Management. Description.

Talent Management is an approach to managing human capital throughout the career cycle. It involves the recruitment, selection, identification, retention, management, and development of personnel considered to have the potential for high performance or leadership positions. Talent management is part of Human Resources Management.

Each organization has different requirements for its current and future ‘talent pipeline’ (Leadership Pipeline), as well as different issues concerning how best to meet these requirements. It’s these considerations that should determine the talent strategy an organization develops.

This term is usually associated with competency-based human resource management practices. Talent management decisions are often driven by a set of organizational core competencies as well as position-specific competencies. Talent may include skills, knowledge, cognitive ability and potential, experience, personal traits (demonstrated through defined behaviors). The values and work preferences of employees are also of major importance.

The following talent management maturity stages can be distinguished (CIPD study, 2006):

1. No talent management strategies, policies or formally developed practices

2. Isolated/tactical/local ‘pockets’ of talent management activities

3. Integrated and co-ordinated talent management activities for a particular segment of the organization

4. Talent management strategy designed to deliver corporate and HR management strategies

5. Talent management strategy informs and is informed by corporate strategy

Similar to Human Capital Management.

Compare with: Leadership Pipeline  |  Coaching  |  Mentoring  |  Career Management  |  Employability  |  Employee Development  |  Management Development  |  Management Succession Planning

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End of description Talent Management. An explanation.