Talent Management

Talent management refers to the process of attracting, selecting, training, developing and promoting employees through an organization. Managers who focus on developing talent in-house ensure their employees have the tools and resources they need to perform well, receive proper compensation and transition to leadership roles. Internally developed leaders are valuable assets because over time they have developed the necessary core competencies and internalized company values.

Communication between supervisors and employees is also very important, specifically about the skills and knowledge that align with company goals. By communicating what senior leaders see as important future human capital needs, employees are more engaged and see a greater opportunity to invest in their own development.

These actions by management increase the probability employees will be more valuable in the future while improving the likelihood that the company will retain the talent it needs.

Read more about why you need to focus on talent management in our whitepaper entitled "Common Sense Talent Management: Twelve fundamental principles for increasing workforce productivity".