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:
“His talent was as natural as the pattern that was made by the dust on a butterfly’s wings. At one time he understood it no more than the butterfly did and he did not know when it was brushed or marred. Later he became conscious of his damaged wings and of their construction and he learned to think and could not fly any more because the love of flight was gone and he could only remember when it had been effortless.”
—Ernest Hemingway (1899–1961)
“People have described me as a “management bishop” but I say to my critics, “Jesus was a management expert too.””
—George Carey (b. 1935)