Discussion-5(HRM)

Topic-5Discuss what talent management is and why it is a consideration addressed by a growing number of employers.  
Instructions
1) Your discussion is to be submitted in 12-point Times New Roman font using   
    APA format. 
2) You must have a minimum of two sources to support your answer.
 
3) Students are required to post their primary response (200 word minimum)  
4) Students will respond to at least 1 other postings (150 words minimum each)Reponse#1(Aneel) 
Talent management is a function of Human Resource (HR) Department to hire and retain talented employees by strategizing the recruitment plan of an organization. A talented employee displays the high potential to grow and is aligned with the organization’s objectives and in turn, helps the organization to grow and achieve its goals. (University of Minnesota, 2016)
     The HR department is required to forecast and administer the organization workforce needs. They also have to create and build strategies and different methods that can assist the organization to hire or retain talented individuals. Talent Management also includes training the employees to gain knowledge and skills to stay up to date with current market needs. Talent management doesn’t mean only giving out incentives to retain employees. But, the HR department has to align with the business and the senior management to retain the topmost talented and skilled individuals. Other than the incentives and pay, employees nowadays look for the work environment, work-life balance and if they are interested in the daily work they do. Hence HR has to strategize on each aspect to help the organization retain talented employees. This cannot be done with the assistance of the manager. HR has to coordinate with the company’s management to understand the requirement and then execute the plan. (Wilska, 2015)
     Talent management is used by a number of employers today as it saves a lot of money. If an organization hires talented employees and then nurtures them to gain good work experience, and incentives then the employees won’t leave the organization. This helps the organization by saving money by eliminating or reduce the cost to hire new employees. Using talent management organization top-skilled employees can be retained and thus employers are now considering talent management as a useful tool for the organization. (Healthcare Financial Management, 2019)
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