Talent management is the umbrella practice covering how an organisation attracts, develops and retains the people it needs - spanning recruiting, performance management, learning and development, succession planning and retention as one connected system rather than separate activities.
What it means
Treating these activities as integrated, rather than siloed, is the point of the term: a workforce plan that identifies a future skills gap should connect to recruiting and development decisions, not sit as an unused forecast.
Where it fits in
Talent management decisions - who is hired, developed, promoted or retained - are the upstream drivers of most changes payroll eventually processes: new hires, promotions, pay adjustments and departures.
Key rules
- An integrated practice spanning attraction, development and retention.
- Connects workforce planning, recruiting, performance and succession as one system.
- Avoids these activities operating as disconnected silos.
- The upstream source of most changes payroll processes over time.
