"Talent management" refers to a strategic human resources approach that emphasizes hiring the most talented workers available that fit the culture, needs and goals of an organization. A company that has a talent management program typically views HR as a major factor in the success of the company.
Recruitment, development and retention of top employees are key elements to talent management. Recruitment involves planned efforts to invite well-educated and experienced people to apply for jobs. Development is the strategic implementation of training programs to fill gaps in skills to achieve goals. Retention centers on building a culture and offering rewards that keep talented employees around.