TALENT MANAGEMENT - II

Talent management is not an end itself. It is a continuous process where you have to prepare proper plan and you also need to revise it in a timely manner so as to cancel out the affect of various factors such as changing economy, market and company conditions & policies. The final objective of any business is making profit. Therefore you also have to see the Cost/Benefit ratio in talent management means the talent you are manufacturing is really benefiting to your business or the money which you are investing in it is going waste.

While developing plan for talent Management Company must think on the following points-

1)      How much training and what type of training is required at each level of job, for example training required by Medical representative, Area sales manager, Regional sales manager are different to handle different situations.

2)      Timely and sufficient availability of talent pool at all time.

3)      How to improve the return on investment in development efforts?

4)      What type of opportunities should be created within the organization in order to keep talents or employees within the company and stop loosing experienced employees to competitors?

5)      What should be the ratio of internal talent development (Placing fresher’s on the job and train them) and outside hiring (hiring of experienced persons which need comparatively less training and investment).