Talent Management & Performance Management

Running Head : Talent Management and Performance Management

Student Name

Year of Study

Semester

Course Name and Code

University

Tutor

Date of Submission

Talent Management

Talent management is used to refer to the process by which companies develop and manage staff competencies and talents in to improve productivity . It also involves forecasting the company 's staff needs and planning on how to meet this demand . Most managers will recognize talent management as the processes used in recruiting new workers , development of the new as well as existing

workers and the attraction of skill and talent into the company . Processes involved in talent management can be well classified to include acquisition management which is the process of acquiring employees performance management which involves evaluating the ability to achieve set objectives learning management which involves developing employee knowledge and compensation management which is planning for the effective reward system for the employees

The talent supply chain refers to the complete process of hiring retaining and assigning the appropriate talent to the appropriate job The process of replacing staff is also included in the supply chain process . Just as a well designed supply chain can help to save on costs add value to a product and gain client loyalty , talent supply chain works in the same way . Hiring the right people and developing the skills of existing employees will ensure that productivity of the company will increase . Good remuneration and other employee incentives will help to gain loyalty from employees hence reduce turnover...