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Talent Management as a Key to Business Success

The productivity of any organization depends, to a large extent, on the human resources that comprise it; that is, people with their talents and skills. These are the ones that are in charge of promoting the operability of the productive processes, whether they are destined to the generation of goods or services. Hence, employees are currently considered as the human and intellectual capital of the organization, while the value of the knowledge, skills and competences of each individual constitutes a utility or benefit for the company.

Financial capital, physical capital and human capital must have the same weight within any business.

However, the optimal performance of staff is subject to multiple factors that are detrimental or beneficial to business performance and competitiveness, for this reason, talent management is becoming increasingly important within organizations as a strategy for the development of personal potentialities. It is about conceiving the workers of a business as individuals endowed with qualities and abilities, manifest or latent, that provide irreplaceable and inexhaustible value compared to the material resources that also integrate production techniques and special tools like shift planner and time tracking software.

Therefore, managing these talents increases the opportunities for improvement in the exercise of work functions, both in terms of efficiency and effectiveness as well as in quality and quantity, resulting in an increase in the profitability of the company. But in order to manage human talent with a view to encouraging growth and improvement, both of the staff and the organization, it is necessary to know what talent management is and how it can be carried out within a company, which we will talk about next.

What is the talent management of a company?

The management of talent in an organization constitutes a management or management strategy by virtue of which a professional is granted the opportunity to develop their skills within the company and thus generate more value for the same economic entity.

It consists of a dynamic focused on the importance of people for the achievement of good results so that their development cannot be mechanized because their creative abilities would be limited to operational standards that generate routine, apathy, demotivation and low productivity.

The objective is to promote the search for highly positive, innovative results that generate profits for the company and, in turn, personal satisfaction, because it is public knowledge that employees happy with their work are more productive, and therefore, contribute to make of the company a more profitable business.

In this regard, talent management involves the execution of various actions aimed at stimulating personal skills, encouraging commitment and fostering a culture of excellence in the performance of the workforce, under criteria of adaptability and flexibility.

Successful talent management is based, not so much on the recruitment of qualified professionals, but on the valuation of the talent already available, enhancing its performance.

These fundamentals start from recognizing how arduous the recruitment processes are, since focusing on the search for a professional fully adjusted to a certain profile, or on the contrary, proceeding to recruit personnel without defined recruitment criteria, usually results in losses of time and resources

Benefits of managing talent well

As you can see, talent management demands a focus on the value of people, which implies a strategic relationship that is closer in order to get to know employees better and get more out of their strengths, as well as help them strengthen their weaknesses.

It may seem hard and expensive work in terms of time, but in reality it has many advantages for companies that develop it efficiently:

  • Greater productivity for the company.
  • Promotion of innovation.
  • High return on investment in human capital.
  • Business and employee growth.
  • Quality at work.
  • Competitiveness
  • Triple satisfaction (business, personal, customer).
  • Loyalty of employees.

The first step to achieve these benefits begins with the employer branding, but once you have good professionals in your team, the next thing is to know how to value them and manage their potential.

Training Connection is a traditional computer and business skills training company. We believe that learning from a live trainer is the most effective way to learn! Our training centers are located in Chicago and Los Angeles and we deliver all our courses onsite countrywide.