People and Talent Management
Concepts of People Management and Talent Management.
People management and talent management go hand in hand. While people management is about hiring, retaining and managing all employees in an organization, talent management refers to the subgroup of attracting and retaining talented and highly skilled workers for the future needs of the organization. Armstrong (2006, p.3) has defined people management as, "a strategic and coherent approach to the management of an organization's most valued assets -- the people working there who individually and collectively contribute to the achievement of its objectives." It includes the philosophies, strategies, practices and programs that have been developed to manage the people in an organization.
Davis (2007, p.3) defines talent management as, "the recruitment, development and retention of individuals who consistently deliver superior performance." From the above two definitions, it can be inferred that talent management is the policies and programs that are geared towards a smaller group of talented people in the organization while people management comprises of all the people working for an organization.
B. The issues of People Management and Talent Management Evolution
People management took shape during the later half of the 19th century as the importance of the role of people in an organization grew. During the 1990s, many countries opened up their economies and this paved the way for globalization as we know it today. This marked a new beginning in the evolution of people management. As goods and services floated freely across countries, it became imperative to hire the right people to manage them.
Talent management is a more recent concept because organizations realized that the only way to stay competitive in the global market is to hire the best talent. Though organizations have always understood the importance of talented people and the difference they can make to the future of the organization, there was little emphasis on formal strategy that would identify and groom the right talent. So, the industry leaders went about creating a definition of talent management and making it an industry standard. They also came up with an approach and action plan for talent management and this was when this field took prominence as a separate area of people management. (Paradise, May 2009).
Since then aggressive policies were formulated to attract and retain the cream of talent in every field. The importance of talent management grew even more during the last few years as organizations looked to forge new partnerships and exploit untapped markets in Asia, middle east and Africa. The highly skilled workers are seen as a major force that can determine the future success of an organization and so they are groomed accordingly.
C. Support definition and understanding
Human capital is the most important asset to an organization and so the managers take all necessary steps to attract and retain the employees. It starts with assessing the current needs of the organization and employing the right recruitment strategies to attract the right candidates. These employees are then integrated into the organization and are provided training and continuous development opportunities to enhance their skills and make them more useful to the organization. The managers also work towards identifying the current and future needs of the employees and come up with suggestions to keep them satisfied. Conflict resolution, incentive-based compensation, training and management development are some of the practices followed in people management.
Talent management comprises of two different aspects and they are the competency of the employees and their performance. The managers identify which employees should know a particular information or do a specified action and how to use the competency of the employee to achieve the long-term goals of the organization. According to a research conducted by i4cp, there are nine major areas or practices used by companies for talent management and they are: leadership development, succession planning, career planning, performance management, high-potential employee development, learning and training, competency management, retention and professional development. (Galagan, 2008).
2.Importance of People Management and Talent Management in the past decade.
A. Explain why People Management and Talent Management have become important areas of discussion.
People management and talent management have become important areas of discussion because of the value they add to any organization. This is primarily because they revolve around the most important asset to an organization. The right employees in the right jobs help an organization to grow and make use of opportunities as and when they arise.
People management encompasses a wide range...
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People and Talent Management The following work examines people and talent management and the importance that this has for today's organizations. The works reviewed in the study demonstrate the need for and the methods used in today's people and talent management. Reviewed is the work of Stockley (2011) as well as other various works that relate the processes and methods of people and talent management in today's organizations. Findings in this study
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