Monday, July 5, 2010

Pakistani perspective on “Talent Management” as best HR practice

Some people say Talent is God's gifted thing for a person. A person is said to be talented if He/She possessed some awesome ability in a particular activity or field. Everyone is talented in one or another way. Nourishing the talent and utilizing it to the best is a challenge. Talent levels will vary from person to person. There is a lack of talents in all areas in Pakistan. Similarly, competition is always there for getting the talents between organizations and that’s why the talent management attains significance.
Every organization needs talented persons in different levels to enhance the efficiency of the company. In this globalized era talented personnel are having demand and are offered good remuneration. For discharging specific tasks talented and work ethic specialists are needed. In every field the case is same. It is not easy to find the right talent needed for the organization and it takes a wholesome effort involving lot of human resource to find the talents and recruit them accordingly.
Talent management is simply a process of recruitment of talents, developing the skills of existing workforce, promoting and retaining the employees, attracting highly talented and rated employees from other companies etc. Talent management is practiced by human resources department of each and every company around the globe. Performance management is directly linked with talent management. In every organization the challenges as well as strategies are entirely different. Hence the focus is mainly on getting and connecting the talent with the organizational set up as well as making sure that the person can cope up with the organizational challenges and deliver it with strength.
Senior human resource executives are dealing with the talent management and it is very important for companies as there is practice of rival companies attracting away the talents. So motivation and retention of talents in an organization is a real challenge for HR officials. With companies becoming global with overseas acquisitions, keeping the upward growth will depend on cost effectiveness, internal execution of strategies precisely with existing workforce as well as integrating new talents.
Talent management as a best practice is actually competency based and some of the competencies are skills, personal traits, experience as well as knowledge. Talent management is for the optimization of the resources in the organization, henceforth achieving good business results. Developing the talent within the organization is cost effective than really recruiting new ones in some cases and it can be termed as one the talent management best practice as well regarding human resource functions.

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