Talent Management: From Talent Retention To Talent Optimization

Abstract

Human resource managers all across the world have come to understand that "Talented Employees construct a company and are the gates to success" and are working through the night to develop tactics to achieve this. The abilities and skills of the workforce determine a company's destiny by giving it a competitive advantage over rivals. The aim of this paper is to examine talent management and organizational effectiveness. To achieve this, from literature, the concept of talent management with its dimensions of talent optimization and talent retention as well as benefits of talent management for both the individual and the organization were examined. The only resource that is in short supply is "talented workforce," and businesses have come to understand this. This is the
main reason retention is at the top of the human resource manager's list of priorities. In today's dynamic and competitive world, retaining talent is imperative. This is precisely what prompted human resource managers throughout the world to look for a more innovative solution to this dilemma because the previous solutions could no longer maintain the workforce. talent optimization is the process of aligning your company and talent strategies to achieve business results and maximize profits. Talent management, a
fresher strategy designed to advance talent retention, was born out of this search for a better idea. Since that time, there has been no turning back. The body of literature on talent management has grown exponentially, and "Talent Management" has quickly emerged as the key to corporate success. Although the idea is not new, its capacity to increase value has just lately come to light. However, talent management as a concept is still relatively new in the Indian context, providing opportunity for a lot of ambiguity and lack of clarity to exist for practicing professionals.