Definition of Talent Management-Free-Samples-Myassignmenthelp.com

Question: Define what Talent Management/Human Capital Management is and explain its importance for an Organization. Answer: Definition of Talent Management Talent Management is the required human capital in an organisation. It can be considered as a science of using human resources for improving the strategic value of an organisation. Talent management helps organisations to reach their goals (Al Ariss, Cascio and Paauwe 173). It can also be considered as an integrated process that helps in attracting skilled individuals in an organisation. The talent within an organisation can be managed by integrating, motivating and developing the number of individuals in a manner that they become an asset for the organisation. It is important to gain the maximum productivity from the employees and engages them in various organisational activities to improve their skills. Most occasions, Talent Management has been considered as Human Capital Management Definition of Human Capital Management Human Capital Management can be considered as a series of practices that are required for recruiting, training and developing the human resources of an organisation (Hollenbeck and Jamieson 370). Employees are viewed as an important asset for organisations. The collective skills, talents, knowledge and expertise that are possessed by an organisation comprise its human capital. Like Talent Management, Human Capital Management also plays an important role in the success of an organisation. In order to gain excess productivity, it is necessary that the organisations maintain the talents of the employees by upgrading them in a continuous manner. The upgraded skills of the employees can help an organisation to gain valuable results and a competitive advantage in the market. Importance of the concept in organisations One of the most valuable assets that employee brings to an organisation is more capital. Without proper Human Capital Management, organisations cannot create other sources of capital. For example, even in the age of machines, the human beings are responsible for the construction of the machines that make it possible to work in a less laborious manner. Talent Management can also assist in creating a sustainable organisation that can be functional in the modern business world. Despite the emergence of modern technology, the importance of employees in an organisation is one of the factors that help in the success in the competitive market (Deery and Jago 453). An engaged and motivated employee can help in building up a successful organisation. Summary of the article The article states that it is necessary to have a changed mindset about the mentality of work (Hbr.org). It is necessary to be purposeful so that organisations can benefit from the role played by the employees. The article also suggests that gaps need to be identified and that the talents acquired need to feel in the gaps efficiently for gaining success. In this regard, it can be said that the future strategic role of human capital management in an organisation need to be based on the contributions made by them to its success. Without capital, it becomes difficult for organisations to plan their next move; hence, the investment in human capital needs to be done in a way that it fulfils the gap. References Al Ariss, Akram, Wayne F. Cascio, and Jaap Paauwe. "Talent management: Current theories and future research directions."Journal of World Business49.2 (2014): 173-179. Deery, Margaret, and Leo Jago. "Revisiting talent management, work-life balance and retention strategies."International Journal of Contemporary Hospitality Management27.3 (2015): 453-472. Hbr.org.Harvard Business Review, 2018, https://hbr.org/sponsored/2018/02/you-cant-hire-your-way-to-the-future-instead-leave-no-one-behind. Accessed 22 Feb 2018. Hollenbeck, John R., and Bradley B. Jamieson. "Human capital, social capital, and social network analysis: Implications for strategic human resource management."The Academy of Management Perspectives29.3 (2015): 370-385.