Talent management involves systematically identifying open positions, hiring suitable candidates, developing employees' skills, and retaining them. It creates career paths for employees to improve retention and motivation. Benefits include hiring the right people, retaining top talent, better decision making, and improved performance. Principles of talent management are avoiding talent mismatches, reducing hiring risks, recouping talent investments, and balancing employee interests. The talent management process includes understanding requirements, sourcing, attracting, recruiting, selecting, training, and retaining talent.

1. TALENT MANAGEMENT
Simaran Shaheen
Asst. Prof.
Ghanshyam Binani Academy of Management Sciences, Mirzapur

2. Introduction-
 Talent management is the systematic
process of identifying the vacant
position, hiring the suitable person,
developing the skills and expertise of
the person to match the position and
retaining him to achieve long-term
business objectives.
Talent management is defined as the
methodically organized, strategic
process of getting the right talent

3.  Talent management involves strategically
planning career paths that make sense for every
employee. We all tend to work better we know
where we are headed and what the next stop is
for our careers. This does not entail making
empty promises of promotions but rather creating
a career map in discussion with the employee,
making sure that they relate to it and feel that it is
realistic while also providing them with all the
necessary tools to make the map a reality.
Having a map to follow also improves retention
scores since employees then know what they
have to look forward to and work towards and

4. Benefits of Talent Management
 Right Person in the right Job
 Retaining the top talent
 Better Hiring
 Understanding Employees Better
 Better professional development decisions

5. The importance of talent
management
 Attract top talent
 Employee motivation
 Continuous coverage of critical roles
 Increase employee performance
 Engaged employees
 Retain top talent
 Improve business performance

6. Principles of Talent Management
 Principle 1 - Avoid Mismatch Costs
 Principle 2 - Reduce the Risk of Being Wrong
 Principle 3 - Recoup Talent Investments
 Principle 4 - Balancing Employee Interests

7. Talent Management Process
 Understanding the Requirement
 Sourcing the Talent
 Attracting the Talent
 Recruiting the Talent
 Selecting the Talent
 Training and Development
 Retention
 Promotion
 Competency Mapping