The What and Why of Talent Management

Talent Management can be a misleading term if taken for the literal meaning of the words. It may seem like a part of the Human Resource Management function, but is actually a whole different ball game. Talent management integrates the functions of HR management with the other functions of the organisation.

Under talent management the task of managing employees falls in the hands of the managers, not the HR department. This has become a need of the hour seeing the increase in the competition among firms regarding the human resource capital. Firms today fight to retain the talent or risk losing it to their competitors.

Talent management is a relatively new concept on the horizon, but with the changing lifestyles of the employees and by extension the changes in their needs, talent management has now become an imperative for any firm that wishes to stay in the game.

It encompasses a whole range of activities from improving the recruitment process to ensuring that the employees are satisfied with their jobs as well as the benefits associated with it in order to lessen employee turnover and thereby build human capital.

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