Strategic Talent Management Planning (STMP)

Abstract

Human Resources (HR) are considered the most valued assets of an organization. HR job of an ‎organization is exciting but a challenging one, at a time where the world has become a global ‎village and markets are in a state of change. The insufficiency of talented resources and the ‎new expectation of the worker have consequently increased the complexity of the HR function. ‎Talent management is not just about ensuring the right person in the right place or ‎filling up vacancies rather it is about, ‎ ensuring the adequate availability of talents. Talent ‎management ‎is ‎to ‎acquire a talented workforce, that helps to bridge the gap between the ‎current ‎ and ‎future ‎Human resources, moreover to retain talents. Talent management is needed to meet the demands ‎of ‎the ‎ contemporary‎ knowledge - driven organization. This study paper serves to explore an important question: What ‎is talent management? How is it related to HR? Do HR practices associate with talent ‎retention? Survey studies were used to assess the Lebanese organizations' ‎ knowledge‎ about talent management, findings were negative, and there was a lack of comprehensive talent ‎management ‎strategy. This is paper is a full description of talent ‎management and the difference between, talent management and ‎ human resources. This study shed light on Strategic Talent Management Planning (STMP) ‎ that permits companies to attract and retain a talented workforce while promoting company’s goals. STMP requires thinking ahead and setting objectives and goals, being able to set thorough objectives and to attract talented workforce and retain high performers to achieve a valuable intellectual organization. Talent Management practices and challenges ‎are addressed and recommendations are provided. ‎