Components of an effective talent management program: Tricwar model of talent management- A driver of change in business schools

Abstract

This is the era of LPG (Liberalization, Privatization, and Globalization) where the private sector is increasing at a rapid pace. This corporate/ private sector has the requirements of quality professionals, these professionals are produced in the professional institutions. For producing quality professionals there must be quality educational institutes, and for any quality educational institutes the first requirement is having the quality faculty. The role of faculty in an educational institute is highly indispensable. For the growth of any educational institute the proper and full utilization of faculty’s potential is necessary. The full potential of a faculty can only be utilized with the implementation of proper talent management practices. After the recruitment of any good faculty, his/her induction and development is very important, because the development of the faculty is the development of the student and the development of the student is the development of the institute and nation. If a good faculty has been recruited and being offered the development opportunities the professional institute should try to retain that faculty member as long as possible. Retention of the faculty members is a very crucial aspect of talent management. Many job opportunities are always available to the good faculty members, as a result of which, any sort of major dissatisfaction from the current institute may prompt them to look for a new job, under such circumstances, faculty retention becomes a very crucial aspect of talent management for professional institutions.