The Importance Of Talent Management

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Talent management refers to identification, development and use of high potential employees who can affect positively the organisational performance. The focusing on employee development aims to improvement of the ability to perform. Once the identification of talented employees is done, the next step is the development of them. One way of developing the talented employees is through training (Sims, 2007, p.7). Employees participate in seminars and workshops in order to improve skills and capabilities or they experience job rotation, which urges them to learn new skills, adapt to new circumstances and cope with the requirements. In this way, they learn how to perform their current or future jobs and advance their career.
Many organisations try to integrate their values and principles into the talent management. For instance, whilst organisations have chosen to select employees based on job related skills and experience; many multinational corporations focus on cultural fit. They believe that formal qualifications and skills are not always the best indicators of performance and retention on the basis that personality traits, attitudes and values are more difficult to develop than skills (Stahl et al., 2012). Prime examples of companies that move in this direction is IKEA and IBM as they select candidates emphasizing on values and cultural fit rather than skills, experience, or academic qualifications (Stahl et al., 2012).

4.0 Two Key Psychological Concepts

4.1
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