While it remains true that a fast-moving competitive world still demands new approaches to two major problems all organizations face - a more independent mindset of staff who are less prepared to wait for an organization's timing of jobs and rewards, and at the same time, organizations requiring staff to be ready just in time for new challenges - the response of employers has to be tighter still. Organizations and people require much greater flexibility than in the past and we have to find new tools to manage these challenges. Talent management is the title of the discipline that incorporates a range of activities that can be used to address these problems. It has a bias towards focusing on individual needs to bring out the potential of each and recognizes the necessity of retaining key personnel in a competitive labor market. The mindset of talent management is based on the assumption that there is potential in each and every one, and any approach should be to try to release that. Succession planning has, by contrast, a bias towards satisfying organization requirements. There is an assumption that failing to satisfy the majority of requirements from internally developed personnel is unlikely to provide the optimally effective organization.
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