This video, presented by Kevin Groves, assistant professor of organizational theory and management at the Graziadio School of Business and Management, makes a case for why talent management matters now more than ever. Based on his research, he offers a model for talent management best practices and the implications of his findings for organizations.
Talent Management is a set of integrated organizational Human Resource processes designed to attract, develop, motivate, and retain productive, engaged employees. The goal of talent management is to create a high-performance, sustainable organization that meets its strategic and operational goals and objectives. With the current market becoming highly competitive for quality workers, otherwise known as the “war for talent,” companies are considering HR capital a top priority. And since companies are only as successful as the people within them, it’s important to find, hire and retain quality candidates and top performers. Implementing a strong and efficient talent management system can help with attracting and retaining top talent as well as making a bottom-line impact on productivity.
Gartner Inc., defines talent management software (TMS) as an integrated set of applications that support an organization’s need to plan, attract, develop, reward, engage and retain talent. Such applications include workforce planning, talent acquisition & onboarding, performance appraisal/assessment, goal management, learning management, competency management, career development, succession management & compensation management.
“These functional components align with the key human capital management (HCM) processes of plan to source, acquire to onboard, perform to reward & assess to develop. The talent management market is boosted by functionality to improve workforce engagement & collaboration, as well as to provide greater analysis and even predictive insights to improve decision making around workforce actions,” Gartner adds.
Check out the top reasons to buy a talent management platform in 2019.
Looking for more? Download our talent management buyers guide and check out the top-24 products available in the market with full page vendor profiles, key capabilities and questions to ask yourself and the vendor before purchasing a talent management solution. For those just starting the talent management software search process, this is truly the best resource to help get you going.