Being a Human Resource Executive you are expected to be well familiar with the concept of ‘Talent’ and ‘Talent Acquisition’. However depending on the industry or organization, the concepts of ‘Talent’ and ‘Talent Acquisition’ itself are subjective. According to psychology, talent is a person’s superior ability to solve general problems and challenges, in an organization it is the ability to do an assigned job faster, better and more easily. A talented person’s abilities are distinctly above average, and for HR executives a talented candidate is a person who is able to do the job better, faster and more easily than any average employee.
In today’s competitive job market, every organization is constantly spending significant resources and effort to find, attract and employ the best talent available. Talented employees can solve complex challenges faster and more efficiently, and thus improving the work flow during that process. Better and efficient work process means better operations and better chance of achieving business goals. Depending on the type of work and business, an talented employee always uses his or her talent to improve work process, generate revenue or improve the public image of the organization. Talented employees are the most important concern for Human Resource departments as it is their responsibility to nurture, reward and retain talented employees. From scouting to recruitment and selection to retaining employees, this whole process is the most important aspect of ‘Talent Management’.
During the planning and execution of the process of ‘Talent Management’, the main goal is to ensure that your company is employing people with the right skills, for the right jobs at the right time. Recognition of potential in your exist employees is equally important as attracting the best and most talented candidates. A homegrown talent is often better in long run than a talent you have headhunted and acquired recently. Developing a homegrown talent requires early recognition of their potential and giving adequate chances and guidance to develop their maximum potential. Your true success as an HR manager is when you are finally being able to focus your employees’ maximum potential to grow and fulfill your organization’s objectives and create a healthy and stable work culture.
An organization’s success depends on the amount of their employees’ potential they are actually using. Therefore the role and importance of talent development has equally become important as talent acquisition and talent development has continued to grow as a separate segment of talent management in recent years.