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63 Talent management > Purpose of the toolkit - Pg. 653

653 63 talent management Purpose of the toolkit Talent management is the process of ensuring that the organization has the talented people it needs to attain its business goals. It involves the management of the flow of talent through an organization by cre- ating and maintaining a talent pipeline, as shown in Figure 63.1. F I g u r e 63.1 The talent management pipeline Talent management strategy Talent planning Talent audit Resourcing Succession planning Development Talent management policy talent management strategy A talent management strategy consists of a declaration of intent on how the talent management process of planning, auditing, resourcing, succession planning and development should mesh together to achieve an overall objective ­ to acquire and nurture talent wherever it is and wherever it is needed by using a number of interdependent policies and practices. The rating framework shown in Exhibit 63.1 can be used to obtain overall views and generate discussion on the strategy.