Talent management indicates the skills of attracting highly skilled workers, integrating new workers, and improving and retaining current workers to meet the current and future business objectives.
Companies involved in a talent management strategy shift the duties of employees from the human resources department to all managers throughout the company. It is also called Human Capital Management (HCM).
Talent management is basically concerned with coordinating, collaborating and managing the different talents people have to offer within a company. This is done by studying and examining each individual on the basis of their skills, talent, personality and character in relation to filling a particular vacancy within the company.
Every individual has different skills to offer and the difficult part for a company is choosing those individuals who fit in with the existing company culture. Effective HR procedures will be able to identify these individuals and appoint them appropriately.