The document outlines the key components of an effective talent management program, including competency management, workforce planning, talent acquisition, performance management, learning and development, leadership development, and succession management. It also lists additional common components like governance, external influencers, strategic alignment, organizational climate, and technology. The document emphasizes that talent programs must start with a positive company culture aligned with goals, and include globally aligned systems and processes to support recruitment, career development, training, and reward/retention of top talent. Initial steps include developing a talent strategy, identifying supporting systems, engaging leadership, and addressing fundamental gaps.