Key Differences Between Talent Management Vs Human Resource Management
For an unturned eye, there might not be a lot of difference between talent management and human resource management. And rightly so, it if the responsibility of human resources is to manage the people so affectionately referred to as resources, talent management is a strategy employed by the human resource department to attract, develop, and retain productive, motivated employees.
Talent Management in a Nutshell...
Talent management is a niche in
human resource management that is responsible for re-inventing how employees are engaged, trained, and motivated to be their best selves in the organization. This not only brings out the highest levels of potential but also assures them that their talents are being valued, nurtured, and appreciated in the organization. For many employees, this turns out to be the reason they cherish working with the organization.
From an organization's perspective, talent management is an opportunity to innovate in the people space to gain a competitive edge. Every firm's product and services are only as good as their people, and its people are only as good as how well their talent and potential are managed.
Also Read: 7 Key Components of Talent Management – HRD
Talent Management Vs Human Resource Management
When you understand the difference between talent management and human resource management, you'll understand why organizations define titles within the organizations, establishes clear goals, and sets your teams after pursuing them.
Here's are some quick pointers to help you understand the difference between these two terms.
1.Meaning
All things “people” in an organization is human resource management. Everything from understanding the number of people required to hiring and retaining them. On the other hand, talent management is the process of nurturing, developing, and retaining talent in the organization.
2.Process
HR is a separate business process in itself. Talent management, on the other hand, is integrated with all the other business processes and activities in the organization.
3.Operational and Strategic
Operations keep the human resources up and running; working out pay structures, managing benefits, creating people policies, holiday calendars, handling disputes, etc. On the other hand, talent management identifies potential and constantly works on making them better through reviews, training, coaching, mentoring, and more.
4.Goal
The goal of HRM is to hire great talent and make the best out of it to achieve organizational goals. Talent management, on the other hand, focuses more on the "make the most out of them" part.
5.Owners
All HRM processes are executed by the HR department with minimum intervention from the management. Talent management, on the other hand, requires leaders, managers, and employees throughout to work together and recognize potential, mentor, recommend training and review their progress.
Also Read: How to grow your career in Human Resource Management in 2022
To Sum It Up!
So, here it is, hopefully with this information you'll be able to understand the difference between talent management and human resource management. An
online talent management certification course can help you gain in-depth knowledge on the subject. If you are looking to build a career in this discipline, or are looking to enhance your skills, a talent management course online is highly recommended. The aim of a talent management course is to impart knowledge of talent management & employee relations, how to tackle various talent management issues and solve those issues.
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