TALENT MANAGEMENT - I
Submitted by abhi271183 on Wed, 07/02/2008 - 10:06.
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Talent management always remains a source of pain for senior executives in the pharmaceutical companies. Number of companies failing in proper talent management sometimes leads to surplus of talent to its shortfall which ultimately hurts company’s profit objective in long term. You can see a large number of companies have opened up special departments such as talent management department, attrition rate management department etc to fight up with this.
Companies always have two options whether to go for proper forecast and long term planning or just react and take action according to the ongoing situation. First option looks good but in the rapid changing economy one couldn’t guess exactly what will happen in next 2-3 years. Therefore sometimes it does not create any meaning to recruit, select and develop candidates in advance.
Second option is just to react according to the situation but again there is a pitfall. This does not assure ample amount of talent to be present when required because selection and training process takes lot of time.
So what companies are doing for talent management now days? What method they are using??
Great Concept
This talent management concept is very good. I would like to understand it better and see if we can use it in colleges.
Talent Management
Really this topic is important at each level whether in Industry or in College. By proper talent management we can create proper talent in our organization.
Sometimes developing talent in high amount i.e. quality as well as quantity wise in turns creates a shortage of opportunities for the employees (according to their talent) which ultimately lead to increased attrition rate. Therefore it is very important to understand the need and level of talent development in an organization at each level of job.
nice blog!
you have given nice information my friend..I am eagerly waiting for rest of the topic..
Thanks
Talent management is always remains a major issue for companies .Company invest thousands of Rupees in the development of single employee therefore talent management is important in order to get higher return on investment out of that.
Awesome.........
Dear Abhi,
The points you made were awesome and the point of the industry would definitely would be fetching to students like me .Please do keep posting such blogs
Thanks
This is a very important topic and students need to fully acquaint with this so that they can manage talent in better way for their organization in future.