Talent Management

Introduction

The talent management has been practiced almost all the organizations by dealing more practically with employees to achieve strategic business goals with right relationships, abilities, behaviors, skills, and knowledge (Morgan & Jardin, 2010).  Talent is unique to an organization and likely to change over time and further it is influenced by factors such as industry, its nature, individuals, and implication at group level (CIPD, 2007).

Image Source

Talent Management 

Even though there are quite a lot of definitions available for Talent Management, some opinions remain that the definitions are unclear and lack of clarity (Lewis and Heckman 2006). Talent Management is a kind of process that supports an organization to retaining of high potential employees those who are considered as a certain value for the organization (CIPD, 2007).

And further CIPD (2007) states that Talent Management includes organized attraction, deployment and development of those employees. Talent Management involves in human resource management (HRM) processes that focus on attracting, developing and retaining of talents (Lewis & Heckman, 2006).

Factors Determining Successful Talent Management:

Most of the organizations are functioning in multicultural environment; its talent is in the form of different nationals from different cultures. Organization needs to be sensitive to the cultural diversity when attracting, developing, deploying and retaining talents.

Attracting Talents:

Employer brand has a direct link with attracting external talents (Poorhosseinzadeh & Subramaniam , 2013).

          Deploying Talents:

An approach called “Quick Screen” helps talent recruiting by matching key aspects of position and application’s competencies to identify high performers (Poorhosseinzadeh & Subramaniam , 2013).

Developing Talents:

Organization has to focus on recognizing their talent’s knowledge gaps, implementing strategies to increase their competencies and confirming their retention (Poorhosseinzadeh & Subramaniam , 2013).

Retaining Talents:

There are factors such as benefits, compensation, career success and intrinsic rewards are the factors that contribute to talent retention (Poorhosseinzadeh & Subramaniam , 2013).

The Challenges in Talent Management:

 Ernest & Young Study (2012) identifies the challenges in the Talent Management are…

1.      Shortage of international experience in top management.

2.      Lack of an internal management channel forces companies to recruit from competitors.

3.      Organizations are unable to retain and reward high performers in different markets.

4.      C-suite leaders (CEO, COO, and CFO) and lower-level managers hold disagreeing views on talent management.

Conclusion

Organizations need to have a well-planned approach to manage talent in order to face the challenges of a rapidly changing workforce and business environment.

References 

 

CIPD. (2007). Talent management: Strategy, Policy, Practice. .

Ernst & Young. (April 2012). Growing pains : Companies in rapid-growth markets face talent challenges as they expand. EYGM Limited.

Lewis, R. E., & Heckman, R. J. (2006). Talent management: A critical review. Human Resource Management Review, Vol. 16, pp.139–154.

Morgan, H., & Jardin, D. (2010). HR + OD = Integrated Talent Managment. Retrieved June 11, 2018 : 6 pm, from http://www.innovationamerica.us: http://www.innovationamerica.us/images/stories/2011/HRODIntegratedTalentManagement-20110217163258-20110217184044.pdf

Poorhosseinzadeh, M., & Subramaniam , I. (2013). Talent Management Literature Review. Australian Journal of Basic and Applied Sciences, 7(6): 330-338.