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21 Talent management > The process of talent management - Pg. 258

258 Part 3 People resourcing should focus all its attention on development of only part of its human capital. What is important, however, is recognizing the needs of different indi- viduals within its community.' The general consensus seems to be that the main concerns of talent management are obtaining, iden- tifying and developing people with high potential. This is to be expected, although it should not be at the expense of the development needs of people generally. Organizations that simply cater for the high-flyers and ignore the rest do so at their peril. The latter are the people in the engine room on whom the organization depends. Talent management starts with the business strategy and what it signifies in terms of the talented people required by the organization. This provides the basis for talent planning. Ultimately, the aim is to develop and maintain a pool of talented people. This is done through the talent pipeline, which consists of the processes of resourcing, retention planning, succession and career planning and learning and development (especially leadership and man- agement development) that maintain the flow of talent needed by the organization. Its elements are described below. Talent planning the process of talent management Talent management takes the form of a `bundle' of interrelated processes, as shown in Figure 21.1. Talent planning is the process of establishing how many and what sort of talented people are needed now and in the future. It is a sub-set of workforce planning, as described in Chapter 18, and uses the same techniques. It leads to the development of policies for attracting and retaining talent and the