Talent‐Management System: Placing the Right Talent in the Right Place at the Right Time

A talent-management system is established to balance the long-term career needs of the talent owner and the long-term business needs of the organization. The talent owner wants to optimize his talent and so does the organization. Talent management is not confined to the select few high-fliers in an organization. Real talent embodies not only skills, knowledge and relevant attributes, but also the talent owner's value system that harmonizes with that of the organization. Despite higher talent mobility with globalization, talent management is still a strategic exercise to undertake. A comprehensive in-house talent-management system covers identifying, sourcing, developing, retaining and renewing talent for long-term sustainability. Talent identification is not an exact science. Developing talent is an investment. Talent does not need to be retained forever but talent needs to be renewed. However, this chapter discusses the talent-management system and its strategic exercise.