The importance of talent management and why you should invest in it Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay Talent management is not just a simple HR buzzword you come across. Talent management is the organization's commitment to hiring, managing, developing and retaining the most talented and superior employees available in the job market. It plays an important role in company strategy as it manages one of the company's most important assets, its people. Companies should strive to effectively manage their employees and help them develop their skills and capabilities and retain them. Talent management is a business strategy that organizations believe can help them retain the most qualified and talented employees. Here are some reasons why you should invest in talent management.1. Attracting the Best TalentIf you have strategic talent management, you will have the opportunity to attract the most talented and qualified employees available. Strategic talent management creates an employer that attracts your ideal talent and, in turn, contributes to higher levels of business performance and results.2. Employee Motivation Having strategic talent management helps keep employees motivated and creates more reasons to stay with the company. According to Chandler and Macleod's survey, 91% of employees surveyed said they wanted more than just money to feel engaged and motivated.3. Continuous coverage of critical roles The company will be equipped to fill critical skills gaps and will have a plan to address critical roles and highly specialized roles in the workforce. In other words, the company will have a continuous flow of employees to fill critical roles that ensure operations run smoothly. It also means that other employees will not be left with an additional workload that could lead to burnout.4. Increase employee performance It will be easier to identify which employees will be best suited for the job which can lead to fewer performance management issues and complaints. It will also ensure that top talent stays with the company longer. Engaged employeesThe company can make systematic and consistent decisions on staff development, ensuring that the required people have the necessary skills and development, saving money on unnecessary developments. Furthermore, when there is a fair procedure for development, employees feel more engaged and this gain increases retention rates and also ensures that the company can meet its operational requirements.6. Retaining top talent Well-structured onboarding practices create higher levels of retention that save the company on recruiting and performance management costs in the long term.7. Improves business performanceWhen your employees are engaged, competent and motivated, they will work to achieve your business goals, which in turn increases customer satisfaction and business performance.8. Increased customer satisfaction Keep in mind: This is just one example. Get a custom paper from our expert writers now. Get a Custom Essay A systematic approach to talent management means that there is broad organizational integration and a consistent approach to management. When systems are more integrated, customer satisfaction rates are generally higher, as they deal with fewer people and their needs are met more.