Talent Management
Talent management (TM) is an organization's commitment to recruit, retain, and develop the most talented and superior employees available in the job market. TM is a useful term when it describes an organization's commitment to hire, manage and retain talented employees. It includes the following HR functions:
• Position/Role Description Design
• Recruiting
• Hiring
• Induction/On-Boarding
• Professional Development
• Training
• Performance Evaluation
• Rewarding & Recognizing
• Disciplining
• Career-Pathing
• Job Matching/Optimizing
• Succession Planning
• Promotion
• Retention
• Termination
• Exit Interviewing
• Staffing Plans
• Building High-Performing Teams
About
Talent and Performance Management
Performance Management
Performance Management (PM) is different, although related to talent management as it is a set of functions that impact goal attainment. TM deals more directly with the capacity building and evaluation of people. while performance management deals with capacity building and evaluation of activities, processes, and systems which impact performance outcomes.
• Needs analysis
• Goal setting – individual, team,
organization
• Creating high-performing organizations
• Process improvement
• Continuous improvement
• Measurement systems
• Quality management
• Enterprise software
• Data collection
• Program evaluation
• Strategic planning