MANA 298 Lecture Notes - Retention Period, Career Management, Succession Planning
Document Summary
Talent management is a process of ensuring that an organisation has the employees with the necessary talents it needs in terms of knowledge, skills, experience and attitudes. Talented people possess special capabilities and aptitudes which enable them to perform in a more efficient and effective manner. The various aspects of talent management are recruitment, selection, monitoring, performance management, career development, leadership development, replacement planning, career planning, recognition and reward. The competition for qualified and skilful employees is fierce and attitudes of newer employees are shifting. Keeping skilled employees in the organisation once they are on board is a major challenge for top executives. Globalisation and changes in the business environment have drastically altered the work style of employees whereby life-time employment is no longer liked by most of them. The ease with which employees can change jobs, geographic locations and new industries offers new challenges.
