O4: Talent Management in Organizations

Successful organizations take action to ensure that they have the human resources to meet their current and future business needs. Organizations require much greater flexibility to account for individual needs than in the past and have to find new ways to manage resulting challenges. Talent Management (TM) will play a critical role in this context to help businesses succeed. Talent Management is defined as the process of choosing, supervising, and encouraging talent so individuals can perform their best in organizations. The fundamental purpose of TM is choosing the right people, with the right skills, at the right time, and for the right jobs; this is crucial for guaranteeing the health and advancement, as well as effective functioning, of the companies now and in the future. TM works to nurture each person’s potential toward success and happiness. It is important to recognize that Talent Management is an effective strategy for achieving organizational goals while also helping businesses become more competitive in the job market. TM comprises different but related components that aim to identify, preserve, and boost these goals: 1- Selection and recruitment 2- Capability assessment 3- Training and development 4- Performance management 5- Employee engagement 6- Succession planning 7- Leadership development. These concepts are among the significant factors that resulted from research in Iran’s power generation and transmission and distribution management company (TAVANIR) and its 90 subsidiary companies, as well as a series of programs that have been implemented in the field of TM since 2001. As a best practice, the stages of the plan and the results will be offered in this presentation.