What is the importance of talent management within business organisation?

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Talent management within business organisations plays a vital role in increasing its overall productivity. It also helps the business organisations in attracting the highly talented candidates from the pool of talent in the market. In this respect, Chung and D'Annunzio-Green (2018) stated in one of the research works that talent management helps business organisation in enhancing employee engagement and also earns a wide range of benefits. From the acquired information through telephonic interview, it has been identified that talent management is an essential requirement to be taken into account within business organisations. In this competitive era, employees change their jobs from one organisation to other by focusing on the benefits provided by other business organisations (Krishnan and Scullion, 2017). This enhances the rate of employee turnover within a business organisation. Despite this, Waters-Sobkowiaket al. (2018) mentioned that with the help of effective talent management programs, the management of business organisations are effectively able to retain the best talents for long run and increase their revenue generation. In addition to this, it has also been analysed from the acquired data that during economically challenged situations, it becomes difficult for business organisations to provide effective compensations to employees due to which, they more often leave the organisations. 

What is the importance of talent management within business organisation?

the talent management plays an efficient role in business organisations as it helps the management to identify the accurate candidates for their specific job designation. In my view, talent management is basically the procedure of recruitment, developing and retaining the best candidates.

What according to you is the main requirement for managing talents within an organisation?

The business organisations with proper management and leaders are able to manage the talents. It is the ability of the leaders to continuously motivate their team members that further enable the employees to put the best efforts for contributing to the economic development of the organisation.

How you keep your organisation updated with the updated employment legislations?

Keep a regular track on the official pages of government regulations and also we have connection with government bodies that inform us regarding any changes in the employment legislations. In this way, I keep myself as well as my team updated with the latest changes or formulations of employment regulations. 

What procedures does you organisation follow to manage the performance of employees?

An Originsation should have a great team of human resource that review the performance of the employees on an annual basis. On the basis of their performance, the HR team provides incentives for motivating them.

According to you, what is an economically challenged situation?

As per perception, economically challenged situation is the one when business organisations are unable to perform effective work and are not able to contribute to the financial development of the nation.

How do you think, talent management can be done within a business organisation?

I think that there needs to be a proper management with accurate procedures for managing the performance of employees. Moreover, with appropriate procedures, business organisations are able to manage their talents and retain the same for a long period of time. 

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