Today, we are in the age of modernization with immense addition of youth workforce which is increasing day by day. Every day new technologies and innovations are introduced in global business with involvement of ‘Generation Y’. All these youth are engaged and employed through an effective HR workforce which nowadays primarily focus on Talent Management.
Talent management in business basically refers to everything done to recruit, retain, develop, reward and make people perform forms a part of talent management as well as strategic workforce planning. Such a planning tends to make sure that perfect people should hold their places in the organization.
Last year Coca Cola held a campaign last year which was named as ‘Come Home on Diwali’ which emphasizes on student wanting to get back home during his Diwali vacations. This concept was introduced by a Human Resource management trainee. Another big corporations like ‘3M’ & ‘Google’ tend to give 10-15% free time to their personnel letting them to think on something new and come up with some innovative ideas. People have used this time to come up with new business ideas and business projects. They have created work that fits the talent of the people in the organization, and they have attracted talented people to come to work for them. This allows them not only to implement their business strategy but to also grow and develop their business strategy based on the skills of their employees and their ability to attract top talent.
Like this every organization which tends to grow day by day heavily emphasizes on managing its talent pool to get an edge over its rival competitors. A country like India is a country with over 70% of the youth population, a strong approach towards youth recruitment and training can take a nation like India to new heights.
Human Resource department is nowadays the most dynamic segment of any organization where new challenges are faced by the management especially when it comes to managing youth its like craving a diamond. One needs to polish them carefully to get their 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) is a result of 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 human resource department in the coming future.