Read the blog so that you would no longer think that human resources and talent management are the same thing.
he two concepts, Human Resources, and Talent Management have been dominating HR conversations for the last couple of decades. When asked what they are or how they are different, many of you would start scratching your heads. These two concepts do have a lot of similarities as they are both concerned with managing employees. However, there are a few key differences between these two concepts. Understanding these distinctions is key in setting up your organization and helping your employees succeed.
Human resources in a Nutshell
Human resources is a division of a business that is charged with attracting talent, recruiting, and onboarding new employees. The HR department also takes responsibility for determining an employee’s salary, incentives, and evaluating employees. They work in optimizing an organization’s mission and other factors that keep the company moving towards success. So no, HR does not exist to punish you.
What is Talent Management?
In 2016, only 57% of HR leaders aimed to use talent management strategy while today around 83% of them are ready to incorporate this strategy. Talent Management is a strategy that is responsible for engaging, training and motivating employees. They work on bringing the best out of the employees in terms of potential and talent. They conduct training and coaching, and work on the personal development and retention of employees.
Differences between Human Resources and Talent Management
|Human Resources||Talent Management|
Works on understanding the number of people that need to be hired. Focuses on administration and deal with pay, vacation days, benefits, complaints, and grievances.
|Works on the nurturing, developing, improving, and retaining of talent in a company.|
The goal of HR is to hire great talent and to make the best out of it.
|Talent management focuses on how to make the most out of them.|
|All human resource operations are executed by the HR department with little intervention from the management.|
Talent management operations require the involvement of leaders, managers, and employees. They need to work together to recognize talent, propose training, and reviewing progress. The whole organization is responsible and has a share in these activities.
|HR operations are done on a day-to-day basis and need not require a long-term plan.|
Talent management requires a long-term plan. You need to start answering questions that are not easy to answer. Like how are you going to train people and help them develop? Do you want these trainings to take place on a weekly or monthly basis?
Talent management is not an alternative to HR. So don’t go choosing one over the other. If you want your company to succeed, you would need to have both in your business. Talent management can also help in reducing the skill gap and decrease the unemployment rates. It can help in retaining your best employees and reduce employee turnover. Go check our infographic to know more on Human Resource VS Talent Management.
For more interesting blogs on Applicant Tracking System and current happenings in the HR world follow us here and on LinkedIn!