Like every IT field today, the talent management sector has also changed drastically over the past decades. It is without a doubt that the information technology and system have changed the way businesses are being conducted today. For every business decision that is taken, it is enhanced by utilizing an information system. These systems have proved to be resourceful strengthening the employee-employer relationship.
Companies are in constant need for employees to contribute towards the company although things have been automated.
What is talent management and its pillars and how it is different from human resources management
Human resources management and talent management are distinctively two different things altogether. The human resources management team holds responsible for talent management. On the other hand, talent management focus is solely towards recruitment, retention, and development of the talent. Talent management is also responsible for hiring the best talent and to convert them into an effective and resourceful talent for the company. The team also takes responsibility to hire, maintain, and retain the best of talent.
The concept was brought up through the concepts of early workforce management and human management. It was more likely the involvement of human resources to manage and retain talent. But in a talent management system, further responsibilities are being transferred to the manager.
This process authorizes the manager to take up responsibility such as talent acquisition, retaining, development, recruitment process of the worker. Different organizations have their specific approach towards handing their talent management. Where organizations only involve candidates with star performance to become a part of talent management, and certain organization involve staff with talent management skills.
The Strategic Tool
Talent management systems have been used by several organizations acting as a strategic tool. Organizations now are in dire need to blend a mixture of business strategy along with talent management that can help to have the best employee management activities. Most of the responsibilities will be taken up by managers.
For better engagement companies, will require to come up with a process through which an employee talent can be recognized by others. By doing so, it would be of great aid for others in the organization to make use of the best talent across. Employees must also encourage themselves in making their development plan. Talking of talent management system is an information technology that is used for managing the four corners points in human resources management such as - the recruitment, performance management, compensation development, and learning and development management.
The systems core competencies are on employee transaction like payroll and leave management. For human resources to survive in the long run then a talent management system looks positive in providing solutions.
These are the key features and development history:
- With the emergence of client and server technology, it has now become possible to manage applicant base electronically for MNCs.
- Data, as we know, has caused a positive impact on businesses, no doubt data and analytics have helped the talent management field.
- The talent management field has once again proven the management of high-performance work environment, that has helped reduced attrition rates.
- It has helped build compensation models and create uniform metrics for the performance of the employee.
- The two-major focus that drives the talent management system is the recruitment and retention factor.
By having this information system one can ensure that the candidate has the right set of skills, making sure no hindrances takes place causing an effect to the skilled workforce.