Talent Managment Process - Essay Example

Lecturer: Talent management process Talent is a word that is employed when defining the workers who have a high level of skill asthese people carry with them considerable job experience in the areas they function in as well as strong knowledge of the industry they operate in. On the other hand, talent management is a combination of entrepreneurial human resource practices and activities that make sure that the effectiveness of the highly skilled employees within a firm remains sustainable. Talent management is an activity that is strategic and seeks to maintain the innovation associated with the company as well as its performance while depending on the long-term ability of its human resource.

An operational talent management is among the most valuable assets an organization can possess and if the processes associated with talent management are performed in a professional manner, it has the capacity to become the driving force of the company towards economic success. Talent management entails three main aspects that include the acquisition of talent, its development and retention once it has already been acquired (Elegbe 24). Nonetheless, numerous other sub-processes are components of talent management that include the identification of talent, its sourcing and evaluation among others.

In the cases where the management of talent is implemented in the proper manner, strategic effects can be seen all over the company and an appropriate talent management entails more than merely attracting, nurturing and retaining the employees who are talented. Human resource functions as a framework for a number of specialty well-designed areas in regard to expertise which require proper appreciation and discipline. In most of the cases, these well-designed areas are considered to include workforce and succession planning, the management of performances as well as compensating and giving benefits to the employees who perform exceptionally.

In order to be able to manage talent in an efficient and effective manner, all these aspects have to be consolidated fully and they must work together in a smooth manner. In the initial stages, workforce and succession planning maps out the path for future talent requirements by quantity and qualifying requirements in accordance to the strategy of the company. On the hand, management is tasked with the delivery of an overview if the talent that is already in existence while talent acquisition and recruitment is supposed to make sure that the identified gaps has been closed as far as the talent map is concerned.

Overall, the acquisition of talent is supposed to ensure that the aspects such as employer branding have been covered. Since it is a best practice, it is highly emphasized that organizations employ the support of Recruitment Process Outsourcing (RPO) firms during the process of talent acquisition since the RPO providers are more specialized and have more expertise in terms of finding the most appropriate external talent in the markets that have become increasingly competitive. Additionally, the learning and development initiatives are supposed to provide coaching and training to the talent that is already in existence so that the employs who possess this talents may become future leaders with an ability to employ their talents in the delivery of excellence in the company’s performance.

In accordance with all these initiatives, an efficient compensation structure is supposed to be in place as high performance talent needs a proper compensation package that will demonstrate their commitment as well as achievements in terms of results.Work citedElegbe, Joel Alemibola. Talent Management In The Developing World. Farnham, Surrey, UK: Gower, 2010. Print.