Undoubtedly, Talent management is at the core of business these days. Hyper complexity of markets has put all the industries and organizations in different scenario comparatively. Globally the business environment has become more vehement in terms of competition. Over the decades, transformation of business concepts and preservation of acquired knowledge has changed things a lot. With the increasing number of corporate organizations, organizations are in a continuous compression of performing better than others to have an edge over other organization. For performing better, to ensure sound survival, organizations have to work with excellence in all the departments.
Since 80s the realization of importance of Human Resource or Human Capital in business sector have accelerated to a visible level. Companies have realized that the Human Capital has a much larger role to play. This not only the technologies or hiring of employees that trigger success for an organization but the talent behind when managed skillfully. Talent management is all about hiring the right people for the right job in the right scenario and getting the work done efficiently in the meantime. Human resource or human talent is the most valuable asset of an organization in the current business environment. Getting the job done is not enough, getting the job done efficiently and better than others is the main purpose.
Talent management is a specialized and a long term phenomenon and includes different phases in it. It starts from attracting right talent for your organization to recruit in. other phases include retaining them, developing them and maintaining them to get the success plan rightly executed. Every organization strives for the best talent out there that best fits the organization to accelerate functionality and productivity. This is what all the HR professional are concerned with. This is an inevitable reality now that in the last decades human capital have gone through serious changes due to evolving business circumstances globally and in recent times it is the human capital that makes the difference. This is the talent and the highly productive workforce that gives a competitive edge to an organization over the other. Companies either fail to recruit right and highly productive people to t right job or they fail to keep them for long and fail to achieve desired goal. Talent management demands both individual and organizational development and realization. It requires appropriate planning and accurate execution of plans to attract the best talent available and then maintaining, nurturing and retaining them to get the job done accordingly. This is the need of the time that organizations make talent management a priority for long term success.