Answers:
The term talent management is usually associated with competency-based HRM practices. Talent management decisions are often driven by a set of organizational core competencies as well as position-specific competencies.
The competency set may include knowledge, skills, experience and personal traits. Talent management is the recruitment, development, promotion and retention of people, planned and executed in line with the organization’s current and future business goals. Because it is aimed at building leadership strength in depth, it creates flexibility to meet rapidly changing market conditions. A structured talent management process will systematically close the gap between the human capital an organization currently has and the leadership talent it will eventually need to respond to future business challenges.
Talent management, with a focus on soft skills, leadership development and succession planning, is the defining trend in HR.
Matching the right person to the right job is an acknowledged need in organizations. But one of the toughest challenges in selection that is often overlooked is matching the right candidate to his/her immediate boss. What makes that goal particularly tough is when the boss does not have a clue what kind of candidate would work well with him/her. Employers also need to identify critical competencies that people will need to develop for their success.