Managing Talent in an Organization

MANAGING TALENT IN AN ORGANIZATION

Table of Contents

About this Assignment 2

Overview 2

Managing Talent – The Key to Organization success 3

Phases in Managing Talent 4

The Strategic role of HR in managing talent 6

Establishing an appropriate work environment 7

Creating and Managing the Talent Pool in the organization 8

Brain Drain and Knowledge Retention 9

Investments in Talent and Alternative Approach 10

The role of HR, branding and rewards 13

Talent Management in a rapidly changing world 14

In Summary 15

Recent Articles Published on Talent Management - References 16

Overview

Let us start by trying to define the word “Talent”. We can gather many words together, seeking a definition. Talented people are creative, self-confident, self-starters, edgy, resilient, entrepreneurial, intellectually flexible, opportunistic, unique and different, but in reality the list is endless. We often come across and appreciate many sports persons, musicians, artists, writers, gifted children, students and employees displaying intuition, creativity and imagination in their day to day studies or employment and refer them as Talented people.

The Concise Oxford Dictionary defines talent as 'a special aptitude, or faculty', which, while accurate, somehow doesn't really do justice as a description of our most talented people.

We think it is appropriate to quote, Talent is anything! Absolutely anything, done well (by one’s own standards, not comparative to others) and enjoyed. It could be polishing the shoes through to building a great monument. People are talented in many ways. Some may have a particular aptitude for doing something, which may be primarily skill based. Others may be gifted artistically, and yet others may demonstrate their talent in more outrageous ways and may be seen as maverick in their approach to life. Anything and everything is talent to someone!

Talent,...