Talent Management is New Innovation Taking Over Human Resources

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Businesses are moving into a new era concerning human resources (HR). The emergence of Talent Management (TM) is the innovative focus that is combined with management issues and HR methods (Bersin, 2006). How can an organisation be more efficient when recruiting new staff? How can companies identify competency issues and solve these through training or development options? How can they manage their employees to affiliate them with company goals and missions? How can organisations identify their top talent and reposition them to gain maximum outcome? These encounters require new strategies and methods in which TM can achieve company expansion and success.

“A firm’s resources and capabilities include all of the financial, physical, human, and organisational assets used by a firm to develop, manufacture, and deliver products or services to its customers” (Barney, 1995, p.50). Identifying and retaining the right people for the right job at the right time (Jackson & Schuler, 1990) and therefore managing talent are critical to the company’s accomplishment of their objective and purpose. Silzer explains TM process through a specific menu: identification (talent planning, university recruiting, and succession plan), assessment (performance management), development (development and career planning, succession management, talent movement) and retention (employee engagement, compensation and benefits). This strategic framework can help professionals and leaders to build and sustain…