In this series of blog, we give an overview of what is talent management, why it’s a key aspect of human resources, and how talent management systems help companies develop an engaged, skilled, and productive workforce.
Talent management is evolving as a result of digital disruption and a shifting workforce, especially in the wake of the COVID-19 pandemic. There has been a transition to remote jobs, with an emphasis on who is the best candidate for a specific role rather than where talent is based.
What the pandemic hasn’t changed is that workers continue to feel connected and engaged at work, regardless of where they work. They want immediate feedback and to know that they are making a difference. They still want to work together with their colleagues, even though they are geographically apart.
Businesses, on the other hand, strive to recruit the best people, keep them involved, and stay agile enough to adapt to changing circumstances. Employees also want to stay active in today’s evolving world, so they want opportunities for continued learning and growth to learn new skills.
Talent management techniques must be versatile and adaptive now more than ever, not only to handle the talent lifecycle, but also to provide immediate insight into the strength of their workforce.
Processes and frameworks for talent management assist businesses in doing just that. In this blog, we’ll go over what talent management is, why it’s important in HR, and how talent management systems can help businesses grow a more committed, knowledgeable, and profitable workforce.
What is Talent Management?
Taking a holistic approach to recruiting, maintaining, and developing a workforce is what talent management is all about. It takes more than recruiting people who can perform necessary tasks to run a company. Companies must source high-demand skills, invest in ongoing learning and skill growth, and manage and optimize output to create a competitive workforce.
As a business expands, the skills it requires change. Staff can meet changing market demands by using a skills-based lens to maximize talent. The nature of work is changing, and with it comes the need for workforce management to change as well.
To put it another way, talent management is more about “enabling” than “managing.” Employee engagement investments, from retention to growth and beyond, allow workers to achieve business results rather than just tasks.
Companies need to build a competitive workforce by sourcing in-demand skills, investing in continuous learning and skill development, and managing and optimizing performance.
What’s coming next?
In the next installment of our Modern Talent Management series, we will highlight the difference between talent inventory and talent development, and how companies can innovate their talent management according to their own situation in the post-epidemic era.
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