Talent Management is the set of HR management tools that enable an organization to attract, effectively use and keep employees that make a significant contribution to the company development.
The term talent management, which emerged in 1990, refers to the activities in the field of personnel management, aiming to involve employees in the innovation process, the formation of creative stimuli and the development of the creative potential of employees. David Watkins is considered as the author of the term, which he first used it in an article published in 1998, and further develop it in his book Talent Management Systems in 2004. However, the connection between the development of human resources and organizational effectiveness had been already recognized in 1970 ‘s.
In the late 1990s, an international consulting firm McKinsey published a report entitled “The War for Talent”, which became the subject of discussion at corporate meetings. Directors of major companies, such as Procter & Gamble, General Electric started thinking about how their companies are working with talents. In the late 1990s, the main tool to encourage employees were shares and options instead of cash. In many technologically advanced companies, such as Cisco Systems and Microsoft, as a result of such policy there were a great deal of employees millionaires, which started arguing about how company can keep financially independent young employees.
By the end of the 2000s there had been two concepts of talent management:
- a set of HR processes (recruitment, assessment, training, retention, etc.), to bring and to keep in the organization efficient employee, which would be able to support the company in prosperous state; in the terms of this concept there is no clear distinction between talented and non-talented employees, the main idea is to stimulate the stuff high efficiency.
- processes of managing special (talented) people, whom, by definition, there cannot be enough; in the terms of this interpretation there is clear distinction between the talented employees and others, for the talented there exists a special technology of management and development.
As we can see from these particular programs – the management of gifted and potentially important employees, as well as newcomers adaptation – Talent Management has evolved into a comprehensive approach, for which there are increasing interest from the side of various companies.
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