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What are the Benefits of Talent Management?

 


Talent management will support both organizations and to its employees in different ways. They are listed as below.

Benefits of talent management for an organization

  1. Strategic talent management results in the accomplishment of organizational vision.
  2. Filtration of talented employees and retaining of the finest ones is possible.
  3. Talent management strengthens the organizational structure by building strong human capital.
  4. It helps the organization to succeed over its competitors and establish a strong presence in the market.
  5. It builds up a good reputation of the company among the job seekers.
  6. It leads to improved participative decision making by the management.
  7. It directs continuous improvement in organizational performance making it more efficient and effective.

Benefits of talent management for employees

  1. Talent management initiates a positive environment in the organization where employees experience job satisfaction.
  2. Employees get a chance of learning and improving themselves which motivates them to perform better.
  3. The training and development programmes help the employees to learn something new, enhancing their personal skills and knowledge.
  4. The organization focuses on an individual’s growth and betterment hence employees develop a feeling of being cared for and belongingness for the organization.
  5. The employees remain associated with the organization for a long-term period.
  6. Recognition and rewards lift the employee’s confidence level.
  7. The rigorous learning adds on to the experience of the employees.

Hence, human resource has been a very operative tool for a firm’s development and success. Consequently, to make the best conceivable application of the worker’s talents and skills, adopting talent management is crucial for any company.

References

  1. The Int Actone (2019), Concept, Meaning & Objectives of Talent Management, [Online], Available at: https://theintactone.com/2019/06/24/tm-u1-topic-1-concept-meaning-objectives-of-talent-management/ [Accessed on 05th December 2020]


Comments

  1. Janaka IsharaJanuary 18, 2021 at 3:41 AM

    Are there benefits only for organization and employees?

    ReplyDelete
    Replies
    1. Anushka JayasekaraJanuary 18, 2021 at 6:12 AM

      In my point of view it will be benefited for all stakeholders of the company.
      as an example, when employees are benefited from talent management they will be happy. So, they will be more productive. Hence, employee-customer relationship and handling will be good. Likewise, customers also get benefited and served well because of this.

      Delete
  2. Sachitha LakmalJanuary 18, 2021 at 5:36 PM

    Is a human resources department usually responsible for talent management?

    ReplyDelete
    Replies
    1. Anushka JayasekaraJanuary 18, 2021 at 8:39 PM

      Yes, talent management is typically an HR responsibility. In most companies, one person or a team of people in an HR department will be focused on talent management and may be responsible for the implementation and upkeep of talent management solutions.

      Delete
  3. Theshani DunusingheJanuary 18, 2021 at 11:36 PM

    Talent management is defined as the methodically organized, strategic process of getting the right talent onboard and helping them grow to their optimal capabilities keeping organizational objectives in mind.

    ReplyDelete
  4. Panduka AmarasingheJanuary 19, 2021 at 2:13 AM

    Interesting article !

    ReplyDelete
  5. Lasitha RanawakaJanuary 21, 2021 at 7:07 PM

    Good Article. Points are very clear.

    ReplyDelete
  6. Ganga PathirajaJanuary 30, 2021 at 8:42 PM

    For the development of an individual, the training and development programs are very supportive factor. While improving their personal skills and competencies, they will be able to contribute to achieve the organizational goals also.

    ReplyDelete

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