An HR Glossary for HR Terms

Talent Management

What is Talent Management?

Talent Management refers to companies' practices to attract, preserve, and advance their workforce. This management consists of hiring qualified candidates, providing them with a successful onboarding process, offering courses to enhance their skills, and creating a safe space for growth.

An Introduction to the Talent Management Process Model

For the talent management process to succeed, organizations need a specific strategy. Here are the six steps to follow for the talent management process model:

  1. Identifying: The first step of this model is to identify the organization's needs, which includes determining the gaps in various positions and opening available job postings to close that gap.
  2. Attracting: Once the planning stage is completed, the next step is to attract talent to the organization. This stage might include campus recruitment, using ATS platforms to search for candidates or social media platforms like LinkedIn to look for the right candidate.
  3. Selection: This part of the model is one of the most essential points since selecting the right candidate might take time. Recruiters can screen resumes and cover letters and even ask for extra documents before interviewing to ensure the candidate is the right for the opening. 
  4. Onboarding: Once the position is filled, the onboarding process will start. In this stage, companies will focus on integrating the new member into their organization's culture and operations.
  5. Preserving: Finding and onboarding the right candidate to the organization is challenging. Yet, retaining the talent is as challenging as the prior steps. Therefore, companies should invest in their employees with regular feedback and foster a positive work environment.
  6. Transitioning: The last step of this model is transitioning, which allows employees to grow within the organization. This can be listed as rewarding them with promotions or offering free training on their subject matter.

What are some tips for successful talent management within an organization?

  • Offering various perks to employees, such as flexible hours, discounts, and competitive salaries, can help the company retain talent. 
  • Providing straightforward feedback and encouraging open communication across different levels allow employees to express their thoughts freely.
  • Giving employees autonomy at every chance is a great way to demonstrate the company’s trust in employee talent. 
  • Internal mobility within the same organization can allow the talent to explore other subjects without the fear of losing their current position.
  • Establishing training programs and workshops can advance employees’ career development as well as personal development.

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