Talent Management Industry – All You Need To Know

Talent Management Industry is a thriving industry because no organization can survive without good talent. Knowing the importance of talent, there is also a need to manage the talent and hence talent management industry came into being. While the concept of talent management is not new, recently organizations have started recognizing the importance of talent and started including some top talent management practices.

So if you are planning a career in talent management industry, then you need to know –

  • What is talent management
  • What are talent management consulting firms?
  • What are talent management organizations?

Once you have a complete understanding of these things, then you need to concentrate on the qualifications and skills required to enter into the talent management industry. So let’s start with what is talent management.

What Is Talent Management?

Talent management is an important part of the broader human capital management program that is involved in recruiting – hiring the right people, retaining the right or key talent – managing them effectively with attractive perks and other facilities that will help them stay motivated and thus in an organization. The talent management’s main focus is on particular specific, critical daily activities that are overseen by the human resource team.

What Are Talent Management Consulting Firms?

Okay! So now we know what talent management is, let’s understand what are talent management consulting firms? Simply put, talent management consulting firms are the firms that help your organization in creating insightful talent strategies and influential talent building process that is based on simplicity, accountability, and transparency. The talent management consulting firms offer consulting processes and tools that are best in the industry.

Organizations know that in order to succeed and beat the competition in the market, they need to hire the best of the talents available in the market. And to do that, they need an expert in hiring and that’s when talent management consulting firms come to their rescue.

Qualifications And Certifications For Talent Management

While there are basic Education qualifications that you need to possess that includes a Master’s degree in Human Resource Management because talent management is a small yet significant part of the Human Resource Department. But there are certain subtle differences between the two and that is as follows—

HR is all about people – from the point of understanding the count of new hires a company wants to hire to how to ensure that those already working are retained in the company. On the other hand, talent management is all about fostering, cultivating and retaining those people or talent in an organization. Talent Management is an attitude of Human Resource Department.

So once you have known the differences you will be able to decide whether you want to be HR manager or Talent Management Manager. Here are some of the top certifications in HR and Talent Management.

  1. HRCI or Human Resource Certification Institute: HRCI is another certification institute for HR Certifications that you may like to check out. The institute offers certification courses in HR for beginners, professionals seeking to showcase their HR skills to their current or future employers.
  2. TMI or Talent Management Institute: Talent Management Institute or TMI offers HR certifications at three levels namely – TMP or Talent Management Practitioner, Senior Talent Management Practitioner and Global Talent Management Leader. Each of the three certifications has been designed keeping in mind the experience and the skill set of the HR personnel.

SHRM or Society for Human Resource Management: SHRM or Society For Human Resource Management offers two major certifications for professionals and senior professionals.

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