What is Talent Management? Process, Strategy, Career Scope

Talent management practices have evolved and transformed over the years to cater to employee-specific trends in all other business functions. In the last decade or so, this discipline has become more of a necessity in today’s hyper and volatile business environment. So, let’s see what talent management is and why you should consider pursuing a career in this domain.

Talent Management Defined

The methodological organization, strategic process of getting the right talent, and helping them grow to the best of their capabilities while keeping the organizational objectives in mind is what is known as talent management. In simple words, it is the management, training, development, advancement, and retention of existing employees in an organization.

Talent Management Process & Strategy

  • Planning

Like any other process in the world, planning is the first step in talent management. It involves identifying where the gaps lie, how to formulate job descriptions, how to source the right talent and engage them.

  • Attracting

Based on the planning, the natural next step is to decide whether the talent requirement should be filled internally or by way of external recruitment. Either way, the process must involve attracting a healthy flow of applicants.

  • Selecting

This involves using a series of tests, interviews, and checks to find the right person for the job. Tools like written tests, group discussions, interviews, and an in-depth analysis of all available information about the candidate can help gauge an all-rounded picture. 

  • Developing

Only a few organizations focus on this area of talent management. However, what they need to comprehend is that if the employees don’t see themselves advancing or moving forward in an organization, they’ll make a switch. So, it is an essential part of talent management to develop and train employees to discover their potential and help them grow. HR executive certified programs can help you learn how to conduct job-rotation schemes, coaching, counseling, and mentoring effectively.

  • Retaining

For any organization to be truly a success, top talent needs to be retained. Most organizations try to retain their best talent utilizing increments, promotions, offering them opportunities for growth, training, rewards and recognition programs, etc.

  • Transitioning

An effective talent management process focuses on a collective transformation and evolution of the employees as well as the organization. This involves making each employee feel acknowledged and that they are a part of the bigger picture. Providing retirement benefits, conducting exit interviews, effective succession planning may seem like unrelated points, but these are appraised to be some of the most productive tools for talent management.

Talent Management Career Scope

Wherever there are hired hands, there is a need for talent management.

Having said that, it is now evident that the scope of talent management is massive. Since employees are everywhere, there will always be a need for talent management professionals in all the sectors and industries. However, to make a career in talent management, you need to pursue HR executive certified programs. One such program you can pursue is the talent management certification course by XLRI. Offered on the Talentedge platform, this talent management certification course by XLRI can not only help you gain in-depth knowledge of the domain but also open doors to career opportunities in India and abroad. XLRI is appraised to be one of the best B-schools in the country, and certification from this institution can give you an edge over other candidates applying for the same job.

After pursuing the talent management certification course by XLRI, you can land jobs in the below-mentioned sectors:-

  • Public sector undertakings
  • Private sector companies
  • Management Education
  • Non-Governmental organizations
  • Banks and Financial Institutions
  • HR Consulting Firms
  • Recruitment Agencies
  • Startups

Training for Success

A career in talent management is one that involves interaction and dealing with people on a daily basis. So, you should also have prowess in verbal and non-verbal communication. Patience, empathy, ability to work hard, problem-solving, decision making are just some of the traits you’ll be required to possess. For a comprehensive education in this domain, the talent management certification course by XLRI is highly recommended. By offering you the chance to gain exposure to real-life issues from industry experts, this course from Talentedge can be a real game-changer for your career.

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