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Talent Management: Definition, Process - Term Paper Example

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This paper "Talent Management: Definition, Process" is primarily based on contemplating the components of a talent pipeline, discussing attracting: recruiting and selection of employees, and assessing the impact this process has on the employer-employee relationship…
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Extract of sample "Talent Management: Definition, Process"

Download file to see previous pages According to Shukla (2009, p. 4), “developing and maintaining an organizations' most important resource- it’s people” is widely considered to be a considerable challenge in the present talent-hungry business world. Being thoughtful about future talent needs should be considered important by every organization as it helps in taking advantage of a sound stream of workers when the time comes to hire people. This whole process refers to building a talent pipeline which has two basic components called recruitment and selection. Managing talent in a good way proves to be a very difficult job because even after attracting and recruiting the best workers available, motivating and directing them in the right way still happens to be highly important in order to deliver topnotch growth. According to the November 2008 survey that included about 700 CIPD members, “only 51% of organizations felt that managers are equipped to tackle the challenges of managing talent in a downturn”.

Ployhart (2006) refers to the process of building a talent pipeline as attracting, selecting, and retaining the really talented individuals to achieve mutual organizational goals. It is claimed in the research report that this “is the primary way an organization influences its diversity and human capital”. Talent management is rightfully considered to be the key to business success throughout the UK and this is because of the capability possessed by a superior talent to drive the business through all difficult times. Talent management is a strategy which “improves the performance and the potential of people–the talent–who can make a measurable difference to the organization now and in future” (Ashton and Morton, 2005, p. 30). However, it is mentioned in CIPD Annual Survey Report 2011 that in the UK “18% of organizations (32% of the public sector) have reduced their overall talent management spend as a consequence of the economic downturn”. ...Download file to see next pagesRead More
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