Escalating the Talent Pool

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ESCALATING THE TALENT POOL
Abstract
A frequently used definition of talent management is- “Basic people management in organization”. While the focal point of talent management tends to be on management and executive positions, the concern relate to all jobs that are hard to fill. This has reflected the talent management as one of the most pressing issues facing by the managerial level of an organization. Talent management decisions are regularly determined by organizational-core competencies as well as position-specific competencies. A systematic talent management process will steadily close the space between the current human resources and the leadership talent, which will eventually need to counter the forth coming business challenges .In this paper we have highlighted about the employee’s development, Commitment, Retention rates, Employee engagement and Operational and financial performances of the organization with the help of comparison between talent management and human resource, difficulties towards talent management, strategies and different prospects towards the employees and the organization. This article is based on the interviews of Human Resource Personnel of different hotels in Delhi; Review of the academic and popular talent management literature which will altogether signifies the commitment, accountability, assessment and sustainability towards talent management. Key Words: talent management, commitment, retention rate, employee engagement

INTRODUCTION
Despite extreme competition being the key to market advancement and achievement, organizations have botched to recognize some of the major reasons which highlight why ‘good performers’ leave and one of the possible reason for this question is organization’s failure, towards maintaining the correlation between pay and performance. And there are many more such questions for which HR cannot be able to reactor provide impeccable answer so to daze out such convincing blemishes which are undoubtedly generating space for the introduction of Talent Management. As a professional term, Talent Management recognized in late 1990s, which reflect as a process of emerging and developing the employees as a highly skillful worker for the company. It empowers organization to promptly support, cultivate, inspire, and uphold a high-performance work force. It works with its few basic dimensions, which can be development, retaining, motivating, managing, empowering or transmuting. The ability to attract and retain talent is rapidly becoming one of the key issues for human resource managers and their organizations across the globe (Hilton, 1999). Research by Antonucci and Fegley (2005, 2006 respectively) shows that organizations are increasingly focusing on Talent Management. According to the Society for Human Resource Management’s (SHRM) 2006 Talent Management Survey Report (SHRM, 2006), 53% of organizations have specific Talent Management initiatives in place and this increases to 86% for large organizations with 50 to 99 HR employees. Of these companies, 76% consider Talent Management to be a top priority (Fegley, 2006). According to Leigh Branham, Vice President, consulting service at Right Management Consultants and author of the book, “Keeping People Who Keep You in Business”, a talent is not rare and precious. Everyone has talent – too many to possibly name all. Talent is behavior; things we do more easily than the next person. We speak of “natural born talent” but those with a gift, knack, ability or flair for something can refine and develop that talent through experience. Talent, however, cannot be taught. As someone once said, “you can teach a turkey to climb a tree, but it is easier to hire a squirrel” (Saikia, 2009). Vice President, HR of Seagram, Mr. Gopi Nambiar, says talent can be best described as a combination of abilities and attitudes. The real trick is to match the right motivated talents to the right role, individually and collectively, harnessing and...
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