Today, we are in the age of modernization with the immense addition of the youth workforce, which is increasing daily. Every day new technologies and innovations are introduced in global business with ‘Generation Y’ involvement. All these youth are engaged and employed through an effective HR workforce primarily focusing on Talent Management.
Talent management in business refers to everything done to recruit, retain, develop, reward, and make people perform and forms a part of talent management and strategic workforce planning. Such planning tends to ensure that perfect people hold their places in the organization.
Last year Coca-Cola held a campaign which was named ‘Come Home on Diwali’, which emphasizes students wanting to get back home during their Diwali vacations. A Human Resource management trainee introduced this concept. Other big corporations like ‘3M’ & ‘Google’ tend to give their personnel 10-15% free time, letting them think about something new and develop some innovative ideas. People have used this time to develop new business ideas and projects. They have created work that fits the talent of the people in the organization, and they have attracted talented people to work for them. This allows them not only to implement their business strategy but also to grow and develop their business strategy based on the skills of their employees and their ability to attract top talent.
Like this, every organization that grows daily heavily emphasizes managing its talent pool to get an edge over its rival competitors. A country like India has over 70% of the youth population, and a strong approach towards youth recruitment and training can take a nation like India to new heights.
The Human Resources department is the most dynamic segment of any organization where new challenges are faced by the management, especially when managing youth it’s like craving a diamond. One needs to polish them carefully to get the best prices in the future.
Talent management is concerned with two major areas of HR that are ‘performance’ & ‘potential’ which can be found largely in the youth generation. Several policies are applied by recruiters of an organization so as to get the best for the business. Hiring management trainees right from colleges is practiced by most of the companies so as to get a fresh a talent pool.
A student-oriented organization AISEC (International Association of Students in Economic and Commercial Sciences), results from talent management. They invite top business and thought leaders from around the world to share their knowledge with the delegates about the future of youth. Such practices are always inspiring for new talents.
Majors in the field expect that till 2020, youth will be the most integral and profit-earning sources of the organization. That’s why talent management will be a crucial factor in the human resource department in the coming future.