A celebrity and talent management company basically handles two kinds of portfolios. One is the celebrity part where the individuals whose portfolios are being managed are already pros and have a identity for themselves in the society and are hence referred to as celebrities. They could be Industrialists, film stars, sportsmen or powerful politicians often spotted at the most happening events in the city. The other one that is the talent management part refers to a group of rising individuals who are yet to leave their mark on the social frame. Young individuals looking to mark on stage are picked out straight after a reality show or young sportsmen too fit the bill here.

The Prime role of a celebrity and talent management company in India is too recruit and develop fresh talents and at the same time managing the already existing talents (celebrities), and also attracting other big names (well known/ famous personalities) to work for them as by relating and promoting these personalities it will gather a good reputation and at the same time garner good revenue. The art of Celebrity and Talent management rose in the mid to late 90’s when certain companies came to realize the fact that their employees’ talents and skills drive their business success. Talent Management is also known as HCM (Human Capital Management), HRIS (HR information system), HRMS (HR management system) and HR modules.

The main objectives of a celebrity and talent management firms are:
1) Attracting and recruiting qualified candidates with competitive backgrounds
2) Managing and defining competitive salaries
3) Training and development opportunities
4) Performance management processes
5) Retention programs
6) Promotion and transitioning
Companies that engage in Celebrity and Talent management are very specific in their method of approach. They do lay importance on how they source, attract, select, train, develop, retain, promote, and move employees through the organization. The operation of the company also indicates as to how it drives and promotes individual performances. The term “Celebrity and Talent Management” means differently to different people. Some people would take it as the management of high profile/ worth individuals (celebrities), while for others it is how general talent is managed. There is a saying that “there is no point in having talent if you cannot market it”. It is here that the role of a celebrity and talent management firm comes into play.

Talent management decisions are often decided by a set of organizational core competencies as well as position-specific competencies. The competency set may include knowledge, skills, experience, and personal traits (demonstrated through defined behaviors). It could be stage performances to businesses and corporate to media and films to sports. General companies (Software, IT, Heavy Electrical) also implement talent-management programs to bring the best out of their employees and move ahead of competition. This particular aspect enables the HR group to choose upon a set of individuals to work upon projects that would get the company ahead of it’s competitors in the market. Once a company has an idea as to who the talented employees are, a team can be formed and it can gain on a reputation of being a firm to be a great place to work in. This would also foster loyalty amongst the current group of employees and in turn they would also look ahead to work for a firm that values it employees and provides them with opportunities for continued success.