Talent Management and Building Competent Workforce

Abstract

The dynamic growth of the today’s business world has made the organization more competitive. To survive in the cut throat competition of the globalization, a organization has to attain its competitive advantage. It should be proactive to face the changes in the scenario. In this scenario, the drivers of the growth of the organization are its workforce. The organizational success does not only depend on the organizational policy, but also on the quality of work which can be achieved by the workforce. It is the human resource that is the drivers of the organization through their skill, aptitude & attitude by deciding, implanting & controlling the activities. This is the time to move for the organization where they have to stand first than its competitors. In this situation talent management has become an important tool for the organizational growth aligned with the individual growth. Efficient human resources can be developed & maintained by the contribution of the talents in the organization. According to Michaels, Handfield-Jones and Axelrod (2001, p. XII) talent is seen as “the sum of an individual’s abilities, which includes ‘his or her intrinsic gifts, skills, knowledge, experience, intelligence, judgment, attitude, character, and drive’”. So overall talent refers to the core knowledge, skill & ability within a person which is able to provide competitive advantage by differentiating the employee. It’s the responsibility of the organization to develop &retain such talent , because it will be a unbearable cost to the organization by loosing them.On the other hand it will be a huge loss to the organization to bear the cost of the maintaining employee who is not adding any value to the growth. And in the scenario of survival, it will be impossible for an organization to bear such cost. So it is vital for the organization to find the hidden talent, nourish & develop them, & to retain them for longterm success. This concepts leads to the term “Talent management”.