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Over time, talent management practises have evolved to meet the needs of today's workforce. Attracting and retaining high-quality employees, developing their skills, and continuously motivating them to improve their performance are all part of talent management. The main goal of This talent management Book is to develop a motivated workforce that will stay with your company for a long time. The specifics of how to accomplish this will vary from company to company. From Personnel to Strategic HR to Talent Management To understand why Talent Management has become so important, we must first look at the evolution of corporate HR: Stage 1: Personnel Department: In the 1970s and 1980s, the business function in charge of human resources was referred to as "The Personnel Department." This group's job was to hire people, pay them, and make sure they had the benefits they needed. Batch payroll systems were the systems that grew up to support this function. The personnel department was a well-known business function in this role. Stage 2: Strategic Human Resources: Organizations realised that the HR function was, in fact, more important in the 1980s and 1990s, and the concepts of "Strategic HR" emerged. During this time, businesses realised that the vice president of human resources had a much broader role to play, including recruiting the right people, training them, assisting the business in the design of job roles and organisational structures (organisation design), developing "total compensation" packages that include benefits, stock options, and bonuses, and serving as a central point of communication for employee health and happiness. The "Head of Personnel" was renamed "VP of HR," and his or her role in business strategy and execution was greatly expanded. Recruiting and applicant tracking (ATS), portals, total compensation systems, and learning management systems were all built to support this new role. HR has evolved into more than a business function in this role, serving as a business partner, reaching out to support lines of business. Stage 3: Talent Management: A new era has begun with the emergence of "Talent Management." While strategic HR remains a top priority, HR and L&D departments are now concentrating on a new set of strategic issues:
