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Fundamentals of Talent Management: Capitalizing on Intellectual Assets
Abstract
This chapter explains the overview of talent management (TM); the characteristics of global talent management (GTM); TM and human capital; TM and career development; the emerging trends of TM in the modern workforce; and the significance of TM in the digital age. TM is a continuous process that involves sourcing, hiring, developing, retaining, and promoting talented employees while simultaneously meeting organization's requirements. TM involves individual and organizational development in response to a rapidly changing business environment. The best TM plans should be effectively aligned with organization's strategic goals and business needs. Business leaders who implement the best TM processes are more prepared than their competitors to compete in the global economy and quickly capitalize on new opportunities. Executives and HR managers need to support the TM-related development of their talented employees to make necessary progress in the modern workforce.
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