Talent Management

In: Business and Management

Submitted By MeghaA
Words 2823
Pages 12
Introduction to talent management (IT)
Introduction to the 2 companies being considered
Findings on company 1
Findings on company 2
Comparative study
Critical analysis

INTRODUCTION

Talent management is a name for a human resources program that applies to more than just computing hours and taking care of legal aspects of employment. Rather, talent management applies to the strategy of recruitment and retention, compensation, assessment and review. In some cases, talent management is a process handled over multiple departments. In other cases, it may be solely handled by human resources.
Talent management's first responsibility is to attract and retain qualified employees. Without this primary function, no company can achieve its full potential. Recruiting workers can be a difficult task, especially in times of low unemployment. The further up the ladder the position is, the harder the position will be to fill.
Recruitment and retention may depend on adequate or competitive compensation packages. These packages must be carefully scrutinized based on industry standards. Although pay may be the most important of the compensation package, it is not the only part. Traditional benefits such as health insurance and vacation also play a role. However, newer benefits, such as flexible packages and telecommute options can also be very attractive for some positions. Talent management's job is to find out what compensation packages are needed and then see if those, or something similar, can be offered.
After employees have been recruited, the next thing talent management must do is integrate them in a way that is most advantageous to the company. This may involve creating non-traditional positions or creating positions that are shared among two or more individuals. This position sharing takes the focus away from individuals and personalities, but requires more…...

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