Talent management is an organization’s commitment to recruit, retain, and develop the most talented and superior employees available in the job market. So, talent management is a useful term when it describes an organization’s commitment to hire, manage, develop, and retain talented employees. It comprises all of the work processes and systems that are related to retaining and developing a superior workforce.
Talent management is a business strategy that organizations hope will enable them to retain their top talented employees. Just like employee involvement or employee recognition, it is the stated business strategy that will ensure the attraction of top talent in competition with other employers. Careful design of a talent management strategy will increase talent attract and retention.