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Current Application of Talent Management– In adverse economic conditions, many companies feel the need to cut expenses. This should be the ideal environment to execute a talent management system as a means of optimizing the performance of each employee and the organization. Selection offers are a larger turn on investments. Job analysis and assessment validation help enhance the predictive power of selection tools. However, within many companies, the concept of human capital management has just begun to develop. With more companies in the process of deepening their global footprints, more questions have been asked about new strategies and products, but very few on the kind of leadership structure that will bring them success in their globalization process. ―In fact, only 5 percent of organizations say they have a clear talent management strategy and operational programs in place today A talent management system (TMS) is an integrated software suite that addresses the ―four pillars of talent management: recruitment; performance management; learning and development; and compensation management.
The current economic conditions demand a cut in the expenses. Unfortunately enough for talent management, though organizations and leadership is all praise for it on papers, the same is neglected as seen as a cost center when it comes to implementation.
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