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distance education solved assignments for Q1. Explain the need for talent management?

Answer:  Workforce cost is the major portion of resources spends for most organisations. Automation and analysis of the recruiting and hiring processes provides the immediate workforce needs and insights required to significantly improve the bottom line. Performance management provides the ongoing processes and practices to maintain a strong workforce.

Today, many organisations are facing a lot of problems of HR processes and technologies. The future of talent management is enclosed in solutions designed from the ground level to
provide business-centric functionality on a unified talent management platform.
Since many competitive business factors have become commoditised, talent is the ultimate driving force behind the business success and creates value.
Top organisations rely on Talent Management solutions and services to assess, acquire, develop, and align talent with business objectives while significantly reducing process costs, improving quality of hire, reducing risk, and achieving higher levels of performance.

Though it may seem spontaneous, it is worthwhile to express the fundamental significance of successful talent management practices as follows:
• The key enabler of any organisation is talent.
• The quality of the people is the last true competitive differentiator.
• Talent drives performance.

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