As a young entrepreneur, I have been asked many questions about what is talent management and what does the talent management process entail. One of the questions that has bugged me for awhile now is; “what is talent management?” I have been given blank looks from both fellow business owners that are new to the industry as well as seasoned entrepreneurs that seem to know everything there is to know about the industry but seem to have no idea what the term means. This is my field of expertise so I guess I have no answer for you on this one. However, it is important to make sure you understand what it means. When I say talent management, I am referencing both the areas of business and life.
As a business owner, you want your company to be seen as professional. That means using sound business practices from the very beginning. It starts with hiring the best people for the job. You need to establish roles and understand what those responsibilities are. It continues from there and ends with hiring the right people to execute your business goals to make a profit. Of course, the key here is setting and achieving goals.
The talent management model I am referring to in the previous statement is; “the business must understand who they are and how their talents can be used to make the business a success.” What I mean by this is that the business must clearly define its vision and mission statement. Once it has done that, it needs to develop and implement a plan or philosophy that will guide them in the process of how to use their talents to reach this vision and mission statement. It will define when and how they will use their skills to achieve this goal. This plan or philosophy needs to be consistent and distilled.
Then, the business needs to take action to develop and nurture these talents. It is important to recognize talent in all forms of physical, intellectual, and social. This includes testing and keeping track of personal and academic records. When the manager realizes there is something a person is good at, they need to discover a way to harness that skill. They may need to hire someone to do the testing or they may need to find a way to make the person to work on their vision and mission statement.
The final component of what is talent management model is that the company needs to identify where the talent comes from. They should know which area it came from. Perhaps it came from an internship. Perhaps it came from participation in a talent show. There should be an area of the business that understands where it came from and why it is valuable.
Talent management model is just one component of overall business wellness. To keep this model at the core of your business wellness plan you will need to develop a strategic plan. It will need to address the issues that surround the talent. It will also address issues that can help foster and encourage the person into becoming productive in their environment. Once they are productive, they need a platform to show what they have been able to accomplish.
What is talent management model is a good model to use in conjunction with other models. For example, you can use a performance evaluation model. This model will help the manager to identify areas of strength and areas of weakness for each team member. Then all the team members will be able to understand where their strengths and weaknesses lie so that they can work together towards a common goal.
What is talent management model does a good job in aligning your efforts with the goals and the purposes of your company. It will help you identify those things that are important to your organization. It will also help you find ways in which you can foster the skills and talents of your team members. When you combine all these efforts, you will certainly be able to achieve the success that you are hoping for.