Talent Management is combined human resources procedures intended to lure, train, and keep talented employees. Talent management is not just about hiring the most qualified employees, but also keeping them as your employee. It is using your human resources to help your business be profitable and to meets its objectives. What sets talent management apart from other management styles is that it focuses on the manager’s role in recruiting, developing, and retaining qualified personnel.
Talent management based businesses usually evaluate their employees on performance and potential. Talent management does not just evaluate an employee on his or her execution of given tasks; it also looks ahead to the employee’s capability if given the proper training and responsibility. Some companies use this model with only their top level employees; others use it with all of their employees. It is generally linked with competency-based management, which evaluates their employees based on their abilities against the necessary ability to obtain the company’s business goals.
In talent management, you utilize your already experienced employees rather than hiring and training new employees. This slashes training costs. The company focuses on taking care of their employees and encouraging them to grow and develop their work talents. The benefits to this type of system is increased productivity and customer satisfaction.
Susan McGalla, businesswoman and executive consultant, has a bachelor’s degree in business and marketing from Mount Union College. She is a well-known, successful talent manager. Ms. McGalla began her career at the Joseph Horne Company, Pittsburgh’s regional department store chain. She left Joseph Horne to work as a divisional merchandise buyer for women’s clothing for American Eagle Outfitters, which was largely a male company, and eventually became its chief merchandising officer and president. After her employment at American Eagle, she became the chief executive officer of Wet Seal Inc. After her employment at Wet Seal, she established P3 Executive Consulting and is the Steelers’ Director of Strategic Planning and Growth.
Ms. McGalla’s wish is to help other women succeed in business. As founder of P3, she does not limit herself to working with just retail businesses; she also works with financial companies. She has been sought out by corporations and even Wall Street, admirers of her business ethic and experience. Ms. McGalla feels women should be equipped with higher education and confidence, and to ignore the “glass ceiling.”