Effect Talent Management Final - Smith 1 Effective Talent...

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Smith 1 Effective Talent Management Leah Smith MGMT 338 Research Paper April 22, 2015
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Smith 2 Effective Talent Management Abstract - The purpose of this paper is to develop effective talent management strategies for companies competitive excellence in changing the work environment. Talent is something that is highly sought in most organizations. Talent management is a process of recruitment, enhancing the skills of existing employees, and retaining and promoting the employees. The Human Resources department in every company practices talent management. Every company needs talented employees at different levels to increase the efficiency of the company. In a competitive economy, talent management is a primary driver for the companies success. Talent management is also defined as the process of using strategic HR to enhance a business's value and to make it possible for companies to reach their goals. Everything done to recruit, retain, develop, reward and make people perform forms a part of talent management as well as strategic workforce planning. Introduction - In order to succeed in a very competitive economy a company must have exceptional talent. It is crucial that a company understands how to hire, train, and retain talented employees. Effectively managing talented people is a key factor in the strategic success of a company. Talent management empowers an organization to support promptly, inspire, and uphold a high-performance staff. It works with its few basic dimensions, which can be development, retaining, motivating, managing, empowering or transmuting. The purpose of this report is to discover the methods and procedures that result in effective talent management.
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Smith 3 Objectives - To present a clear understanding of talent management and why talent management strategy is essential in organizations. Also to examine the role of effective Talent Management strategy in building organizational success. Research Methodology - This paper was constructed using studies based on secondary data which includes journals, books, articles, newspapers, and websites, What Is Talent Management? Talent management is the process of using strategic human resources to improve company value and to make it possible for companies to reach their goals. Talent management involves constructing job descriptions, recruitment, retaining valued employees, and rewarding employees. It is also important that a company's talent management be in sync with the companies business strategy in order to find the right employees. Writing Job Descriptions- Talent management begins with understanding what jobs need to be filled, and the human traits and competencies employees need to do their job effectively. The job analysis is the first step for effective talent management. Companies need to construct a specific and detailed job analysis in order to attract quality applicants. The most important product of job analysis is the job description. The job description is a list of duties, responsibilities, reporting relationships, working conditions, and supervisory responsibilities. It
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