The talent management is more of giving due to importance to the star / high performing employees while knowledge management is more of sharing the work style and technologies.
What is talent management
The talent-management concept applies the 80/20 rule , meaning 20% of an organization’s top employees yield 80% of its positive results. This suggests that employers must treat A-level executives — those who drive and deliver superior results on a consistent basis — in an exceptional and individualized way. This occurs throughout an executive’s complete life with an organization: from his or her initial hire to development, evaluation, reward systems, retention and succession planning.
Talent management defined:
It is sometimes assumed that talent management is only concerned with key people the high flyers. But everyone in an organization has talent, and talent management processes should not be limited to the favoured few, although they are likely to focus most on those with scarce skills and high potential.
Talent management process
The key talent management processes are:
*developing the organization as an ’employer of choice’ a ‘great place to work’;
*using selection and recruitment procedures that ensure that good quality people are recruited who are likely to thrive in the organization and stay with it for a reasonable length of time (but not necessarily for life);
*designing jobs and developing roles which give people opportunities to apply and grow their skills and provide them with autonomy, interest and challenge;
*providing talented staff with opportunities for career development and growth;
*creating a working environment in which work processes and facilities enable rewarding (in the broadest sense) jobs and roles to be designed and developed;
*developing a positive psychological contract;
*developing the leadership qualities of line managers;
*recognizing those with talent by rewarding excellence, enterprise and achievement;
*succession planning ensuring that the organization has suitable people to fill vacancies arising from promotion, retirement or death;
*conducting talent audits which identify those with potential and those who might leave the organization.
what is knowledge management
Knowledge management is a business activity with two primary aspects:
Treating the knowledge component of business activity as an explicit concern of business reflected strategy, policy, and practice at all levels of the organisation. Making a direct connection between an organisation intellectual asset both explicit (recorded) and tacit (person-know-how) and positive business results.
In practice, knowledge management often encompasses identifying and maping intellectual assets within the organisation, making vast amounts of information accessible, sharing of best practices , and technology that enables all of the above including gruopware and intranet.
Knowledge management defined:
Knowledge management involves transforming knowledge resources by identifying relevant information and then disseminating it so that learning can take place.
Knowledge management is any process or practice of creating, acquiring, capturing, sharing and using knowledge, wherever it resides, to enhance learning and performance in organizations. It focuses on the development of firm specific knowledge and skills that are the result of organizational learning processes.
The contribution of HR to Knowledge management
HR can make an important contribution to knowledge management simply because knowledge is shared between people; it is not just a matter of capturing explicit knowledge through the use of information technology The role of HR is to ensure that the organization has the intellectual capital it needs. The resource based view of the firm emphasizes, that ‘distinctive human resource practices help to create unique competencies that differentiate products and services and, in turn, drive competitiveness’.
These are ways which HR can contribute:
The main ways in which HR can contribute to knowledge management are summarized below:
#Help to develop an open culture in which the values and norms emphasize the importance of sharing knowledge.
#Promote a climate of commitment and trust.
#Advise on resourcing policies and provide resourcing services which ensure that valued employees who can contribute to knowledge creation and sharing are attracted and retained.
#Advise on methods of motivating people to share knowledge and rewarding those who do so.
#Develop processes of organizational and individual learning which will generate and assist in disseminating knowledge.
#Help in the development of performance management processes which focus on the development and sharing of knowledge.
#In conjunction with IT, develop systems for capturing and, as far as possible, codifying explicit and tacit knowledge.
#Set up and organize workshops, conferences, seminars and symposia which enable knowledge to be shared on a person to person basis.
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