For last few years the term Talent Management is getting much attention in the world of corporate business. Today we will know what’s Talent Management is and why it’s so important .
Talent management is the integrated process of ensuring that an organization has a continuous supply of highly productive individuals in the right job, at the right time. Rather than a one-time event, talent management is a continuous process that plans talent needs, builds an image to attract the very best, ensures that new hires are immediately productive, helps to retain the very best, and facilitates the continuous movement of talent to where it can have the most impact within the organization.
The goal of the talent management process is to increase overall workforce productivity through the improved attraction, retention, and utilization of talent. The talent management strategy is superior not just because it focuses on productivity, but also because it is forward-looking and proactive, which means that the organization is continuously seeking out talent and opportunities to better utilize that talent. It produces excellent results because it overcomes the major problem of traditional recruiting, which is isolation. Continue reading
We already know that there are seven major functions of Human Resource Management. Today we will discuss about Human resources planning, one of most essential entity of HR.
Human resources planning is a strategy for the utilization, improvement and retention of the human resource required by the enterprise in pursuit of its objectives. By Human resources planning an organization ensures that it has the right number and kinds of people, at the right place, at the right time, capable of effectively and efficiently completing those tasks that will help the organization achieve its overall objectives. HR planning is also called manpower planning, personnel planning or employment planning. The basic purpose of having a HR plan is to have an accurate estimate of the number of employees required, with matching skill requirements to meet organizational objectives.
The HR plan needs to be flexible enough to meet short-term staffing challenges, while adapting to changing conditions in the business and environment over the longer term.The objective of human resource (HR) planning is to ensure the best fit between employees and jobs, while avoiding manpower shortages or surpluses. The three key elements of the HR planning process are forecasting labor demand, analyzing present labor supply, and balancing projected labor demand and supply. Continue reading