Talent Management: The Buzzword

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Talent Management..the buzzword
Organizational talent sets the undertone for its growth trajectory, and hence, a well managed talent pool is what establishes the ground for its success.
Today, corporate HR is consistently buzzing with the phrase ‘Talent Management’. To understand the progress and journey of the HR function, it’s imperative that we look at how has Corporate HR evolved during the past 50 years or so,
During 1970s-80s: HR was all about having a dedicated business function for people activities and was known to be "The Personnel Department." The key roles played by the department were recruitment, selection and taking care of the salaries and related benefits of the personnel. The HR systems supporting the Personnel Department …show more content…

This was when the concepts of "Strategic HR" started emerging. There was a combined realization of the fact that HR has larger roles to play beyond just recruiting the right people; training them, helping the business design job roles, aligning organization structures (organization design), developing "total compensation" packages which include benefits, stock options and bonuses, and serving as a central point of communication for employee health and happiness. This is how a gradual change was observed, when the "Head of Personnel" became the "VP of HR" and had a much more important role in business strategy and execution. During this period, the systems which were built up to support this new role included recruiting and applicant tracking (ATS), portals, total compensation systems, and learning management systems. Thereby the HR department now became more than a business function: it became a business partner, reaching out to support lines of business.
1990s and beyond: Finally, came the era of Talent Management: While strategic HR continues to be the major focus, HR and L&D organizations are now focused on new set of strategic

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