Talent management refers to the anticipation of required human capital the organization needs at the time then setting a plan to meet those needs. The field dramatically increased in popularity after McKinsey's research and subsequent book on The War for Talent. Talent management in this context does not refer to the management of entertainers.
Talent Management is the science of using strategic HR to improve business value and make it possible for companies and organisations to reach their goals. Everything that is done to recruit, retain, develop, reward and make people perform is part of Talent Management as well as strategic workforce planning. A talent management strategy needs to be linked to the business strategy to make sense.
Read more about Talent Management: History, Current Application of Talent Management
Famous quotes containing the words talent and/or management:
“Language was not powerful enough to describe the infant phenomenon. “I’ll tell you what, sir,” he said; “the talent of this child is not to be imagined. She must be seen, sir—seen—to be ever so faintly appreciated.”... The infant phenomenon, though of short stature, had a comparatively aged countenance, and had moreover been precisely the same age—not perhaps to the full extent of the memory of the oldest inhabitant, but certainly for five good years.”
—Charles Dickens (1812–1870)
“Why not draft executive and management brains to prepare and produce the equipment the $21-a-month draftee must use and forget this dollar-a-year tommyrot? Would we send an army into the field under a dollar-a-year General who had to be home Mondays, Wednesdays and Fridays?”
—Lyndon Baines Johnson (1908–1973)