Recruiting the right talent with the right skills at the right time for the right place  - and keeping it there -  is a neverending challenge for talent management professionals.
In a fast-changing and volatile business ecosystem, talent management best practices constantly undergo major facelifts, not only to attract top talent but also to develop new strategies to retain top performing employees.

As of April 2016, the 3 latest must-know trends in Talent Management discussed by HR experts are:

1. Encouragement of personal development and growth

Often, employees cite personal development and career growth as two core reasons that inspire them to stay loyal to their employers. Providing effective and timely feedbacks on an employee’s performance is one of the crucial things for personal development and growth.
Create career and personal develop plans to retain and engage employees. Most importantly, make sure that employees enjoy a sound balance between family and work/social life, as this helps them stick for longer with your company.
As a practice of performance and talent management, you can schedule performance reviews/feedbacks on a regular basis may be twice or thrice in a year to encourage overall talent development. This works great when it comes to empowering employees and also portrays your company as an agile entity. It will also help in realigning performance goals and objectives.

2. A social networking strategy

Having a social presence has become more of a norm for businesses these days. This is because such a strategy helps in improving productivity and efficiency, betters workplace collaboration and boosts communication across the organisation.
For businesses operating in multiple locations or the ones that have huge number of mobile workforce, having a social networking platform would help employees to share their expertise and knowledge with fellow colleagues irrespective of the location.

3. An employee self-service platform

Unfortunately, employee self-service is one of the most underrated solutions for talent acquisition and management these days. Contrary to the misconceptions, many businesses today are realising the potential of employee self-service portal. Since we know that employees crave for liberty when at work and self-service portal gives them the same. Yes, nothing can beat the self-service platform when it comes to providing your employees with the liberty to check, access and update their personal details (contact details, address, education, etc.), apply for leaves, download payslips and tax details, check leave balances, etc. on the go from their handheld devices. Providing your talent pool with such liberty can prove extremely useful to instigate them to stick with your business for long.

Conclusion

For any business, talent management is always an ongoing thing. If you are stuck midway or are confused as where to begin from, mulling over the afore-mentioned ideas should help you get going past the curve.
Bottom line is that talent management is all about incentivising and empowering your talent pool to drive them attain organizational goals.