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ABSTRACT
The challenge of talent management has two facets to it. First is how to find new people and second is how to retain the present workforce. A lot has been written about the acquiring and retention strategies of talent. In case, all strategies fail to retain the talent, an unsought dimension of talent management, i.e. talent transition or exit management evolves. The increased acceptance of modem concepts and practices of talent management has made it necessary to give attention to this aspect of talent management also.
Key Words: Talent Transitioning, Exit Interview, Outplacement
INTRODUCTION
The intensification of war on talent has compelled many organizations to go from thinking to action mode in practicing talent management. Talent transitioning is not a cup of tea of those traditional companies which are still in the era of labor management or industrial relations. Talent transitioning is last step in the cycle of talent management. Since staff costs including salary and benefits forms the major share of the total cost of a company it becomes vitally important to manage talent like a business to maximize return on investment in talent. Talent management is becoming the only sustainable competitive advantage companies can develop. Apart from attracting, retaining and developing of employees, talent management also includes paying as much attention to transitioning talents out of the company as the other main functional activities of talent management.
Exit management is one of the unsought dimensions of talent management. How companies deal with their outgoing employees also indicates their long term strategic vision. Attracting, retaining and engaging of employees have been discussed much, but the talent transitioning has been rather a neglected dimension. This paper analyses the theoretical and practical aspects of talent transition. Talent transition includes relocation of employees to other parts (or out) of the organization. We have only discussed the case of departing talent in this paper.
Talent Transitioning
The challenge of talent management has two facets to it. First is how to find new people and second is how to retain the present workforce. A lot has been written about the acquiring and retention strategies of talent. In case, all strategies fail to retain the talent, an unsought dimension of talent management, i.e. talent transition or exit management...