Talent management is defined as a sub-set of hr functions. . There are a lot of definitions to what talent management is for some it is similar to succession planning and to others it is incorporated attempts to develop attract and keep hold of the best people. A lot of companies select different ways of human resources guidelines to fit into their talent management structure although most consist of performance management, succession, recruiting and development. Krueger,2007 : Rothwell & Kazanas 2003 suggest that managers need to come up with a definition for talent management that meets their own organizations unique needs.
Talent management does not automatically indicate poignant talented individuals upwards in the place of work. It is the opposite organizations have to make sure talents are placed at the best place that suites their talent. The purpose of this assignment is to research issues related to talent management this report will also concentrate on one big question which is “will the HR department be replaced by the talent management department”. The talent management process emerged in the early 90’s it has adopted in organizations continuously as several industries have come to the realization that their employees skills and talent are what makes the business capital. It has been put into practice to unravel employee retention.
It is said that the main concern today is that organizations put a lot of energy in drawing workers in their companies that they spend a smaller amount of time into preserving and expanding talent. In order to understand talent management one must first look at how it was revolutionized. stage1 – personal development, this business function was to hire, pay and make sure employees had essential benefits. Stage 2 – strategic HR involves recruiting the right candidates, educating employees, bonuses and communication of a worker’s health and happiness. At this stage businesses become conscious that strategic hr role was indeed large and very important. At this point hr became more than a business function. Stage 3 – As new problems started arising a new process and systems was required this is where talent management comes in. strategic topics that organizations face now are * How to make recruiting extra efficient * How can leaders and managers be developed in supporting culture introducing value
This diagram is an example of a roadmap to effective talent management. (A Successful Start with your Performance management System This roadmap to performance management can help you navigate your company’s path to adopting, implementing and succeeding with performance management. Along the way, you will bolster internal communication, inspire enthusiastic, long-term, productive employees, and greatly reduce the administrative burden of annual employee performance and salary reviews.
Issues related to talent management
Perfomance management Fully realised, performance management is a holistic process bringing together many of the elements that make up the successful practice of people management including, in particular, learning and development. But for this very reason, it is complex and capable of being misunderstood. In their CIPD textbook, Armstrong and Baron define performance management as ‘a process which contributes to the effective management of individuals and teams in order to achieve high levels of organisational performance.
As such, it establishes shared understanding about what is to be achieved and an approach to leading and developing people which will ensure that it is achieved.’ They stress that performance management is ‘a strategy which relates to every activity of the organisation set in the context of its human resource policies, culture, style and communications systems. The nature of the strategy depends on the organisational context and can vary from organisation to organisation.’
Conclusion The facts are that employees who don’t know what they are doing get left redundant whilst employees that can adopt, work fats and bring in money get looked after by the company. Different organizations whether small large or medium will only attain the best results and aim by drawing in and holding on to the best talent. So after thorough research I have come to the conclusion that yes, talent management is going to take over the HR department