After gathering all the skilled people required for the job, we need to handle them. This is not possible without specifying the operations that need to be undertaken in talent management. Various functions that organizations should perform with the help of HRM and other departments are given below −
● Talent requirement analysis
● Allocating the talent resources or sources
● Influencing talents towards the organization
● Recruiting or nominating the in house or outsourced talents
● Managing combative salaries or professional fees
● Training and progress of talent pool
● Performance examination of talent
● Career and prosperity planning
● Withholding management
We can conclude that talent management or human capital management is a set of business practices that manages the planning, acquisition, development, retention and growth of talent in order to achieve business goals with optimized performance.
