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The role of talent management is to make sure that the organization has the right people in place to fulfill all the necessary roles. It minimizes the risk to the long term future of the business or organization by ensuring that there is a pipeline of people with the right skills, experience and behaviors to fulfill key positions in the future. It is the backbone of any organization. Without efficient employees it’s hard to imagine any organization progressing. An extremely vital role of talent management is to provide leadership development training to prospective and existing manager. Talent can either be acquired from outside the organization or nurtured from the inside. Talent management ensures that all potential employees get the position they deserve by providing training and regular feedbacks. Leadership development training can be classified into three categories, on-job training, formal training and assessment, and mentoring. To develop leadership skill on the job requires employees to take jobs or project assignments that include leadership responsibilities. Employees can learn from colleagues with more experience. Many organizations prefer their potential employees to receive formal leadership development training and attend leadership programs. These training programs can be conducted in the organization's own educational facilities, at a college or university, through a computer simulation program managed by human resource companies that play the trainers' role, and even by outsourcing the training to a training agency. For those who prefer a more personal approach can hire a personal leadership mentor. Personal coaches can provide intensive leadership development training. Mentors are usually supervisors or senior colleagues in an organization who provide guidance about a variety of career-related concerns. The advantage of all these practices is that even though the organization will incur a considerable amount of money on training, it will still be more economical than hiring a tenured manager from outside the organization. Furthermore, if internal employees of a company are trained and promoted, they don’t take too much time to understand the business model of the organization. They are well versed with the nature of work the company does. On the other hand, a new hired manager takes some time to settle in the organization. The author is an experienced Content writer and publisher on the topics related to Talent management and Leadership development training.
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