How many times have we heard it said that “people are our organization’s greatest asset?” Talent management is all about making that phrase more than mere lip service. Indeed, some contemporary observers of the business scene predict that HR departments will go away in the future—replaced by Talent Management departments.
Talent management is a term in search of a meaning. For some people, it means the same as succession planning; for others, it means seamlessly-integrated efforts to attract, develop and retain the best people; and, for some people, it means efforts designed to integrate all components of an organization’s human resources system to attract, select, develop, appraise, reward, and retain the best people.
The best advice: come up with a definition for talent management that meets your organization’s unique needs (Krueger, 2007; Rothwell & Kazanas, 2003).
For more details please refer to this TALENT-MANAGEMENT.pdf