Talent Management: A Practical Guide

Talented individuals are always in demand. Organizations are increasingly dependent on specialists and experts, and have to compete more strenuously for skilled people.
Talent management is an ongoing process that involves identifying, acquiring, developing, and retaining talent for an organization.
Because talent is a valuable and sometimes scarce commodity, talent management is becoming increasingly important.
To succeed, organizations attract, develop, and retain talented individuals.
When talent is well managed, the success of your department grows, and this, in turn, leads to greater competitiveness for your organization.
In this book, you'll learn why talent management is important and what its benefits are. You'll also be introduced to the four key components of talent management – planning, acquiring, developing, and retaining talent. The course will also help you recognize and fulfill your role in managing talent. This involves implementing vital strategies for recruiting, motivating, and assessing talent, as well as creating a supportive work environment in which talent can thrive.
As a manager, ask yourself this: Where is my department or division in relation to developing talent management strategies? Are you aware of your organization's talent needs, and are you supporting these within your area of influence?
For talent management to succeed, it must be properly planned. Essentially, talent management involves anticipating the need for human capital – or talent, creating a plan to meet this need, and then implementing the plan.
In this book, you'll learn about the challenges involved in talent management and about the foundations that must be in place for it to succeed. You'll learn why it's important to determine talent needs, and which factors can affect these needs. And you'll learn how to create an effective talent management plan for addressing the needs you identify.
Most organizations know the importance of having effective recruitment and hiring processes. They know that – to be successful and remain competitive – they need to recruit and select talented individuals.
However, many organizations don't put enough time and effort into these processes. As a result, these organizations operate without well-considered or effective talent acquisition strategies.
Competitors who have given due importance to recruitment will expose this lack of foresight when they get hold of the best talent, thereby gaining a competitive edge. Acquiring talent is one of the key components of a talent management strategy.
In this book, you'll learn these strategies that enable you to effectively recruit and select talented individuals for your organization: determining the appropriate talent acquisition approaches in different situations, implementing a talent-focused recruitment strategy, and selecting talented individuals who'll fit into and contribute significantly to your organization
By applying these strategies, you'll be better equipped to acquire the talent your organization needs to support its objectives.
This can have results for both your organization and you personally: it can give your organization a critical advantage over the competition, and it can contribute to your success as a manager.