Good knowledge of the industry goals and requirements Little commitment to specific organization Even if online recruiting is popular and allows companies to indentify candidates quickly, those applicants may not be as good as the ones found by using other sources. As the current employees know both the job and the person being recommended, they have a tendency to refer applicants who are well qualified.
I have also done CIPD certification which gave me insights into employment law and employee relations in the United Kingdom. Academically, I have scored a distinction overall with various awards including a business school award from the University of Birmingham. As part of my academic project I have undertaken research on Performance Management Strategies, where I analysed the performance management system of the organisation and gave suitable recommendations based on the strategies, which were highly appreciated by the organisation.
I am looking forward to conducting research in employee relations for which I have enrolled on a PhD at one of the best universities in the UK. Talent Management as a Business Strategy.
A business cannot be successful without having the right people in the right place.
Organisations have realised the fact that good employees are their greatest asset and are what gives them the competitive advantage in the long run. This objective made the HR professionals in these organisations concentrate on finding and building a talented workforce. Organisations have realised that talent is an intangible asset and better talent will enable them to perform better when compared to their competitors.
This made HR professionals in the organisations emphasize and change their approach towards talent management. This essay will discuss how talent management plays a vital role in formulating the business strategies of an organisation and examines how an organisation with better talent can possess a competitive advantage.
In the last three decades, the changes in the workplace from industrial revolution to recent global economic crisis resulted in development and adaption of new talent management practices in organisations. Many new strategies were adopted beyond traditional processes in an effort to manage and engage a talented workforce formulating various business strategies.
With the phenomenon of globalisation and increase in outsourcing of company operations to other countries, by the end of 20th century organisations were mainly concentrating on attracting a talented and skilled workforce to work for them Michael et al.
This realisation and changes in the business environment made talent management practices a top priority for organisations Lawyer, Talent management is the process of identifying, selecting, developing and deploying new employees; engaging, motivating and retaining current employees and attracting a highly skilled workforce to perform valuable operations in the organisation Berger and Berger, It ensures that all the people, processes and resources are in place to help the business deliver its strategy.
It can be understood that the organisations which realise the significance of strategic talent management and manage their business accordingly will reap higher benefits and rewards1.
Traditionally, the evolution of human resource management is based on the fact that an effective and efficient workforce can improve strategic performance and functional excellence Beardwell and Claydon, Talent management may be more a new language of old HR work which is committed to improving organisational performance by involving employees, line managers and HR practitioners Frank, Finnegan and Taylor, Today, talent management has become a matter of strategic importance for many organisations.
This need for talent management is also driven by macro factors such as growth of new cycles of business, changing workforce demographics, composite economic conditions and growth of new enterprises Ashton and Morton, The growth of new cycles of business for an organisation often requires a variety of talent in order to out-perform in each cycle.
This emphasises the need for integration of talent management practices within a business strategy and implementation of those processes at every level in the organisation.
Also, with the reduction of labour pools due to a change in workforce demographics, there is every possibility of compression of talent in the organisation which evokes the need for talent management.
The growth of new enterprises will also result in the attraction of a talented workforce from the large organisations, which will also stress the need for efficient talent management practices. Finally, the recent financial crisis and present complex economic conditions emphasises the need for a talented workforce in formulating crucial business strategies for an organisation at every level Ashton and Morton, At a macro level, another important factor that drives the need for talent management practices is a shift in global focus on development of leadership at every level of the organisation.
This leads to a human capital centric HCC organising structure which includes integration of a business strategy with talent practices, emphasis on leadership, sharing of information, building of talent at every level and significance of performance management activities.
In contrast, a structure centric SC organisation consists of traditional bureaucratic hierarchies where managers do not make any effort to engage, motivate and retain employees.
It is a much more bureaucratic approach where only the manager talks at all the levels and never considers the need to make future leaders Lawyer, This is the primary issue with many organisations, as many still follow a SC approach.
But, the SC approach can still work provided management make modest effort to implement talent management practices.
All it needs to do is to attract, retain and motivate the right talent within the organisation as it helps to attain high performance through the human capital, making it a competitive advantage factor for the organisation.
However, for organisations which mainly rely on the competences of their human capital in order to excel in their performance adoption of a human centric approach is crucial.Talent management is the process of identifying, selecting, developing and deploying new employees; engaging, motivating and retaining current employees and attracting a highly skilled workforce to perform valuable operations .
Pivotal Talent Positions in GE After defining its strategic objective and vision, a company should identify the key positions that are crucial to meet those objectives.
Also, in this way it is easier to perceive where to allocate the key employees or even where to spend more resources. And, most important, Where would a change in the availability or quality of talent have the greatest impact?
HR should begin its transformation by applying the tools of segmentation, the widely accepted method for improving decisions in customer and financial markets.
Talent Management. Talent Management is a process that has the goal to hire, develop and integrate new workers, develop and retain current workers, and attract highly skilled workers to work for a firm. Talent management is the process of identifying, selecting, developing and deploying new employees; engaging, motivating and retaining current employees and attracting a highly skilled workforce to perform valuable operations in the organisation (Berger and Berger, ).
Talent management and determining the pivotal talent pool is critical to Amazon’s continued success in the global business environment. Amazon’s Pivotal Talent Pool It is important for human resource and recruiting professionals to identify the talent and establish pools of employees to perform certain tasks in the organization.