Q1.What is the importance of talent management?
Answer : Like human capital, talent management is gaining increased attention. Talent management (TM)
brings together a number of important human resources (HR) and management initiatives. Organisations that officially decide to manage their own talent carry out a strategic analysis of their current HR processes. This is to make sure that a co-ordinated, performance oriented approach is adopted.
Many organisations are adopting a TM approach which focuses on co-ordinating and integrating methods which are given as:
o Recruitment: To ensure the right people are attracted to the organisation.
o Retention: To develop and implement practices that reward and support employees.
o Employee development: To ensure continuous informal and formal learning and
development.
o Leadership and “high potential employee” development: Specific development programs for existing and future leaders.
o Performance management: Specific processes that nurture and support performance, including feedback/measurement.
o Workforce planning: To plan for business and general changes, which include the older workforce and current/future skills shortages.
o Culture: To develop of a positive, progressive and high performance way of operating.
Q2.What are the top 10 talent management challenges faced by an HR?
Q3.What are the retention strategies adopted by organisations?
Q4.List the key elements of talent management system.
Q5.The talent selection consists of five selection processes. List them.
Q6.State some of the practical steps that can be taken to improve the talent acquisition.
