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Essay on Talent Management

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Mira Abou Khzam

This document is an overview of one of the strategies in human resource management which is “Talent Management”. The document include an introduction of talent management in HR practices, the talent management process, elements, challenges and approaches, the relation between TM and competitive advantage, ten steps to successfully implement TM, the theoretical model of talent pool and the recruitment process.

Dr. Mahan Poorhosseinzadeh

Asian Journal of Business and Management Sciences (AJBMS)Vol . 1 No. 4 Year 2011

Bidayatul Akmal Mustafa Kamil

This research was carried out using method of interview among selected human resource practitioners of six Malaysian companies. This research explores talent management practices particularly on the implementation and the effect of the practices on employee engagement and retention. It was found that talent management is considered as the strategy of organization to retain employees. The strategy involves the human resource activities such as recruitment, selection, training and development and performance management. The engagement and retention talented employees needed in order for an organization to success and improve performance. In highly competitive market, having the right employees is the way to ensure organizational succeed. The impact of this research will create an opportunity to develop talent management strategy. It is expected that the identification and development of talent management strategy would result in additional benefits for the organization and its employees.

Noelle Newhouse

editor of J E T I R Research journal

EMPLOYER BRANDING: A TOOL FOR TALENT ACQUISITION

Universal Journal of Management and Social Sciences

Hussin Hejase

Organizations, nowadays, are shifting from traditional human capital development strategies toward more systematic efforts so as to find, develop and retain the right talent that best meet the need of the concerned organization/ institute; thus, focusing the attention on talent management. Attaining such excellence involves the betterment of whoever is working for organizations not just the high-fliers. Talent Management philosophy involves making sure that every employee is provided with the guidance and support needed to achieve his/her full potentials. Because most organizations still lack a comprehensive talent management strategy, a better understanding of the term is needed to meet the demands of the contemporary knowledge-driven workplace. This paper is exploratory in nature and has used an online survey to assess Lebanese respondents’ knowledge and awareness of talent management. Descriptive analysis is used to analyze results. The research suggests that the main drawback observed in a sample of Lebanese companies is the lack of a comprehensive talent management strategy that does not clearly differentiate among human resources, human resource management and human resource development. That is, most companies are applying some components of Talent Management but not all together in an integrated manner. Several drawbacks are identified, namely, in “Total Talent Acquisition”, in “Employee Development”, in “Performance Management”, in “Governance”, and in “Succession Planning”.

Asian Business Review

This study aims at investigating the methods, importance, process, and present situation of managing talented employees in Corporations. The study revealed that having talented employees helps organizations to drive and be competitive but it is difficult to acquire such people. Thus, some innovative campaigns, for instance, global trainee and management cycle star programs have been created to motivate talented graduates to join the companies and to motivate existing talented employees to being more dedicated and engaged. In the recruitment of new employees, personality and interpersonal skills were more important than educational background because candidates were deemed to be proficient in specific areas, so, what a candidate must have is a personality matching the company’s culture especially the characteristic of working as a good team member. In this study, we suggested some important steps and methods that can be applied in the organizations which are totally running and managing by the HR Department. Moreover, these methods and steps can become successful by managing low rate of star turnover which is quite sensitive case now a day.

Hans Drevermann

Claudio Agostini

Cadernos UniFOA

Rosane Seibert

O presente estudo objetivou identificar se as corporações listadas no Brasil, Bolsa, Balcão (B3) demonstram seguir as regras necessárias para estarem enquadradas dentro de cada nível de governança corporativa. Trata-se de uma pesquisa descritiva e explicativa, utilizando-se de pesquisa bibliográfica, documental e de campo por meio de observação nas páginas eletrônicas de Internet de 346 corporações. Constatou-se a existência de algumas corporações em desconformidade com a totalidade das exigências da B3, necessárias para mantê-las enquadradas dentro dos respectivos níveis de governança corporativa, como por exemplo o baixo cumprimento da exigência de adesão à câmara de arbitragem do mercado. Destaca-se que este estudo não observou a totalidade de corporações listadas na B3 e nem em outros meios de divulgação. Nesse sentido, sugere-se que em pesquisas futuras sejam observados outros meios de evidenciação como os relatórios anuais e complementares, bem como outras corporações listadas...

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Winning with your talent-management strategy

The allocation of financial capital has long been recognized as a critical driver of an organization’s performance. The value of managing and allocating human capital, however, is less widely known. But the results from a new McKinsey Global Survey confirm the positive effects of talent management  on business outcomes. 1 The online survey was in the field from November 14, 2017, to November 28, 2017, and garnered responses from 1,820 participants representing the full range of regions, industries, company sizes, functional specialties, and tenures. To adjust for differences in response rates, the data are weighted by the contribution of each respondent’s nation to global GDP. According to respondents, organizations with effective talent-management programs 2 We define an effective talent-management program as one that, according to respondents, has “effectively” or “very effectively” improved the organization’s overall performance. have a better chance than other companies of outperforming competitors and, among publicly owned companies, are likelier to outpace their peers’ returns to shareholders.

The survey also sought to uncover the specific practices that are most predictive of successful talent-management strategy. While there is no one-size-fits-all approach to the effective management of human capital, the survey results reveal three common practices that have an outsize impact on the overall effectiveness of talent management as well as organizational performance: rapid allocation of talent, the HR function’s involvement in fostering a positive employee experience, and a strategically minded HR team. The survey results also point to underlying actions that organizations of all stripes can take to cultivate these practices and thereby improve their talent-management strategy and organizational performance.

Why effective talent management matters

According to the survey responses, there is a significant relationship between talent management—when done well—and organizational performance. Only 5 percent of respondents say their organizations’ talent management has been very effective at improving company performance. But those that do are much more likely to say they outperform their competitors: 99 percent of respondents reporting very effective talent management say so, compared with 56 percent of all other respondents. 3 Figures were calculated after removing the 3 percent of respondents who answered “don’t know” when asked how their organizations’ performance over the past three years compared with competitors’ performance.

What is more, the effects of successful talent management seem to be cumulative. Like an overall effective talent-management program, the abilities to attract and retain talent appear to support outperformance (Exhibit 1). Among public companies, we see a similar effect on total returns to shareholders (TRS). At companies with very effective talent management, respondents are six times more likely than those with very ineffective talent management to report higher TRS than competitors.

Three drivers of successful talent-management strategy

To support these outcomes, the results suggest three practices that most closely link with effective talent management: rapid allocation of talent, 4 We define rapid allocation of talent as the fast or very fast movement of talent among strategic projects as priorities arise and dissolve. HR’s involvement in employee experience, and a strategically minded HR team (Exhibit 2).

Respondents who say all three practices are in place—just 17 percent—are significantly more likely than their peers to rate their organizations’ overall performance, as well as TRS, as better than competitors’ (Exhibit 3). They are also 2.5 times more likely than others to rate their organizations’ overall talent-management efforts as effective.

Rapid allocation of talent

Only 39 percent of respondents say their organizations are fast or very fast at reallocating talent as strategic priorities arise and dissolve —a practice that leads to a 1.4-times-greater likelihood of outperformance. And while it is well established that companies with rapid capital allocation are likely to see higher TRS , our findings show that the same holds true for talent allocation. At public companies that quickly allocate talent, respondents are 1.5 times more likely than the slower allocators to report better TRS than competitors. 5 Respondents who say their organizations have rapid talent reallocation are 2.2 times more likely than those who say their organizations have slow or very slow talent reallocation to report better TRS than competitors, as noted in Mike Barriere, Miriam Owens, and Sarah Pobereskin, “ Linking talent to value ,” McKinsey Quarterly , April 2018. The link between rapid allocation and effective talent management is also strong: nearly two-thirds of the fast allocators say their talent-management efforts have improved overall performance, compared with just 29 percent of their slower-moving peers.

Would you like to learn more about our Talent Match Solution ?

To allocate talent more quickly, the survey results point to three specific actions that meaningfully correlate with the practice (Exhibit 4). The first of these is the effective deployment of talent based on the skills needed , which has a direct impact on the speed of allocation. Respondents are 7.4 times more likely to report rapid talent allocation when their organizations effectively assign talent to a given role based on the skills needed.

Second is executive-team involvement in talent management. Respondents who say their leaders are involved in talent management are 3.4 times more likely to report rapid talent allocation at their organizations. The frequency of leaders’ involvement also makes a difference. At organizations that quickly reallocate talent, executive teams usually review talent allocation at least once per quarter (Exhibit 5). Finally, the results suggest that organizations where employees work in small, cross-functional teams are more likely than others to allocate talent quickly.

HR’s involvement in employee experience

A second driver of effective talent management relates to employee experience—specifically, the HR function’s role in ensuring a positive experience across the employee life cycle. Only 37 percent of respondents say that their organizations’ HR functions facilitate a positive employee experience. But those who do are 1.3 times more likely than other respondents to report organizational outperformance and 2.7 times more likely to report effective talent management, though our experience suggests that the HR function’s role is just one of the critical factors that support great employee experience .

Read our latest thinking on talent management strategy

A couple of key actions underlie the HR function’s ability to ensure better employee experiences. One is quickly assembling teams of HR experts from various parts of the function to address business priorities. Just 24 percent of respondents say their organizations employ this characteristic of an agile HR operating model , and they are three times likelier than other respondents to report a positive employee experience. Second is deploying talent and skills in a way that supports the organization’s overall strategy. One-third of all respondents say their organizations’ HR business partners are effective at linking talent with strategy in this way, and those who do are over three times more likely than other respondents to say the HR team facilitates positive employee experiences.

Strategic HR teams

The third practice of effective talent management is an HR team with a comprehensive understanding of the organization’s strategy and business priorities. When respondents say their organizations have a strategy-minded HR team, they are 1.4 times more likely to report outperforming competitors and 2.5 times more likely to report the effective management of talent.

The factor that most supports this practice, according to the results, is cross-functional experience. When HR leaders have experience in other functions—including experience as line managers—they are 1.8 times more likely to have a comprehensive understanding of strategy and business priorities. Also important is close collaboration among the organization’s chief HR officer, CEO, and CFO . 6 Dominic Barton, Dennis Carey, and Ram Charan, “People before strategy: A new role for the CHRO,” Harvard Business Review , July–August 2015, pp. 62–71, hbr.org. Fewer than half of all respondents say those executives work together very closely at their organizations, 7 The question “How closely, if at all, does your organization’s chief HR officer work with your CEO and CFO?” was asked only of respondents in vice president and C-level roles. but those who do are 1.7 times likelier to report a strategy-minded HR function. The findings also point to the importance of transparency with all employees about strategy and business objectives. Respondents who say their organizations’ employees understand the overall strategy are twice as likely to say their HR team has a comprehensive understanding of the strategy.

In summary, effective talent management—and the practices that best support it—contributes to a company’s financial performance. No one approach works for every company, but the survey results confirm that rapid allocation of talent, the HR function’s involvement in fostering positive employee experience, and a strategic HR function have the greatest impact on a talent-management program’s effectiveness.

The contributors to the development and analysis of this survey include Svetlana Andrianova, a specialist in McKinsey’s Charlotte office; Dana Maor , a senior partner in the Tel Aviv office; and Bill Schaninger, a senior partner in the Philadelphia office.

They wish to thank Laura Lee, David Mendelsohn, and Trevor Young for their contributions to this work.

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Talent Management Aspects and Benefits Essay

Talent is a prerequisite for success in any organization. A talented workforce does not only assist the company satisfy its clients but also ensures that they remain on top of competition. The challenge, however, is managing this talent. Talent management is thus a key area of concern by any organization in the realms of business.

It requires deliberation during strategizing process laid down by the human resource directors in the organization. Without proper management, talent can be a rare resource in an organization. Consequently, there will be less chances of success. This paper will analyze the different aspects of talent management and how an organization can benefit from it.

Talent management is a mindful, purposeful approach undertaken to draw, develop and maintain people with the propensity and abilities to achieve existing and prospect organizational requirements. A view echoed in the work of Sparrow (2009a).

Due to the constantly changing business environment, it is up to the human resource department to ensure that individuals and the organization at large are focused and have the relevant talent that will give the required results (Hodgkinson, Sadler-Smith, Burke, Claxton & Sparrow 2009).

What is the importance of having talent management in an organization? That might be a question to many. First and foremost, it ensures that the right people are hired for the job. Also, it ensures retention of employees.

Thirdly, it develops culture in the organization that is positive, progressive and one that is of high performance. Talent management is also a tool for work force planning between the old and the new. Last but not least, talent management is used to ensure continuous non official and official learning and development (Aldred & Sparrow 2009).

In order to understand the more, one has to look at the processes involved in talent management strategy. To begin with there has to be evaluations. This area involves looking at an employee’s performance and the potentiality they possess. The current employee’s performance is looked into as a tool to profitability of the organization.

The company then needs to analyze projected performance before imparting given skills on an employee. Basing on this, you are able to make a conclusion on what needs to be done to ensure achievement of intended results (Farmer, Tierney & Kung-McIntyre 2003).

Competency management is also needed to align the workforce with your business strategy. You need to identify areas that need competency and avail necessary skills needed in achieving (Sparrow 2007).Recruitment process is one of the key elements in talent management.

Since talent management is all about getting the right work force and retaining them, the recruitment should be done from a qualified group of internal and external applicants. Fleetwood & Hesketh (2009) say that proper tracking is required but putting in mind to cut costs on recruiting and sourcing but improving employee’s retention.

Furthermore there needs to be employee’s performance management. By ensuring this, the goals of the whole organization will consequently match with individuals’ and groups’. Moreover there should be the standardization of employees’ appraisal and in conclusion link reimbursement to performance (Sparrow 2009b).

There must be talent assessment and review. This is achieved by having a constant review meeting with the management team and helping in identifying the talents in the organization. By having effective reviews, highest talents are recognized and steps should be taken to prepare them to step into key roles and positions in the organization (Becerra-Fernandez, Gonzalez & Sabherwal, 2003).

Charan, Drotter & Noel (2002) in their research note that Human Resources together with the management board should ensure there is employee development. Short and long term measures are essential tools to show what training and skills are to be facilitated to achieve the company’s goals.

This is followed by providing the training in acquiring those skills and nurturing the relevant talent. With the existing managing team retiring and going home, a company needs to develop quickly the existing employees. This is made possible by giving them the training earlier mentioned to cultivate and shape them for the task ahead (Fleetwood & Hesketh 2009).

Succession management must be put in place. This simply means grooming the people who are to take up roles in respective capacities after the departure of others. This should be done by tracking the high qualified people and develop them for them to assume leadership roles without any hitch. Identifying key positions and also potential personnel to take up position is necessary (Amabile & Khaire 2008).

When we work it is obvious that we are in search of payment at the end of the month. It is to this reason that compensation management is part of talent management. The management team should provide necessary compensation plans both from within and also look at the external packages in the market. This is aimed at offering the best package that will attract and retain the employees.

Finally there should be talent analyzing that will ensure you have the required skills and qualification. It also measures the effectiveness of the recruitment process, and looks at whether the learning program is effective or not. Further more; it looks at appropriateness of aligning employees goals to that of the organization not forgetting looking at cost effectiveness of the compensation programs.

It is important to note that for effective talent management, it has to start form the chief executive officers and the board of directors to the human resource department. This should incorporate the line managers who are always in direct contact with members of their departments (Brewster, Sparrow & Vernon 2007).

The scramble for talent as it is now will be effective in a company basing on effective recruitment and retention. The Human resource (HR) should ensure that there is a proper organizational channel to affect stability, stress on employer brand and status, have proper talent strategies, sustain multilevel responsibility, and get drawn in talent supervision initiatives and offer opportunities for career and individual development.

On recruitment and retention, the HR should ensure that there is a culture in place for employees to want to stay in the organization, channels for career development must be a priority, have a pool for successors at each stage, and identify any gaps in the company that will need special skills and is not yet filled up. It’s therefore the managements work to ensure that the appropriate talent is recognized and retained in line with the organizations goals and strategies.

Rob and Ben (2008) say that, for successful talent management the following aspects will be influential. One, there is need to have a supple talent sourcing. There is need to also have modified rewards. This not withstanding well spread out and significant leadership should be put in place. Lastly, we need a culture in the workplace that is in agreement with each other.

Incase of departure of a talented employee, it turns out that there is a problem which must be addressed. The HR must look at what the cause is and seal the loopholes. Loosing a talented employee who has been trained and groomed to take up position in the organization is like making a loss. It’s for this reason that the HR should be monitoring the behavioral changes of the talented employees and look for signs that might be suggesting a walk out from the company, and make sure that it doesn’t happen (Jeanne & Willyerd 2010;Schein 1977).

Many at times, a company will find itself in a crisis where there is a shortage of employees and there are those who opt to go for greener pasture. The problem is usually the lack of constant review of the talent. There is also the lack of response to the needs of having more talent. Another notable problem is not supporting the employee especially the first month of his work (Kee, 1997). Lastly, the company might not be having good knowledge about the employee. With these, it is obvious that the organization ends up loosing on its talent.

Therefore to ensure that an organization doesn’t loose on its talent, proper database should be in place to know what exactly is taking place. A sentiment supported by William (2008). Where there is need for appraisals it should be effected with the needs of the company. The database will also lay out exactly what kind of skill is needed and in what area. This will enable the management know on when to make recruitments internally and externally hence wont have a shortage of employees.

A well coordinating group from the chief executive officer (C.E.O) to the subordinates also helps in retaining of the necessary talent (Sparrow 2010; Hesketh 2006).

There will be knowledge of what is taking place in the company and so smooth running of the company. It’s the work of the HR to provide the c.e.o with the relevant information regarding the recruitment and retention process. Constant review together will provide with the avenue of seeing what is needed in order to be in competition with the global market that are not in sleep.

In winding up, to continue having excellent business results in the so much competitive business world, organizations need to go back to the drawing board and come up with appropriate ways in handling talent management. For it to work there must be a strong leadership, a culture of recruiting and retention, employee participation in inventions and suggestions and lastly to have a measurable mechanism to know how the progress and success is. This will make a company stay in the competition and win.

Reference List

Aldred, G. and Sparrow, P.R., 2009. International Mobility: Impact of the Current Economic Climate. Global Relocation Trends Report. London: Brookfield Global Relocation Services.

Amabile, T. M. and M. Khaire. 2008. Creativity and the role of the leader. Harvard Business Review, October, pp. 100-109.

Becerra-Fernandez, I., A. Gonzalez and R. Sabherwal., 2003. Knowledge Management . Boston: Prentice Hall.

Brewster, C, Sparrow, P.R. & Vernon, G., 2007. International human resource management. 2 nd Edition. London: Chartered Institute of Personnel and Development.

Charan, R. Drotter, S. & Noel, J., 2002. The leadership pipeline: How to build the leadership powered company. San Francisco: Jossey Bass.

Farmer, S. M., P. Tierney and K. Kung-McIntyre. 2003. Employee creativity in Taiwan: An application of role identity theory. The Academy of Management Journal, 46(5), pp. 618-630.

Fleetwood, S. & Hesketh, A. 2009 Understanding the performance of human resources, Cambridge: Cambridge University Press.

Hesketh, A.J., 2006. Outsourcing the HR Function: Possibilities and Pitfalls, London: Accenture/CRF

Hodgkinson, G., Sadler-Smith, E., Burke, L., Claxton, G. & Sparrow, P.R., 2009.

Intuiton in organisations: Implications for strategic management. Long Range Planning. 42 (3): 277-297.

Jeanne C. M. and Willyerd, K., 2010. The 2020 Workplace: How Innovative Companies Attract, Develop and Keep Tomorrow’s Employees Today. New York: Harper Business.

Kee, P. J., 1996. Leading Change . Boston: Harvard Business School Press.

Rob, S and Ben E. D., 2008 . Strategy-driven talent management: A leadership imperative. Broomall, PA: Chelsea publishers.

Schein, E., 1977. Increasing Organizational Effectiveness through Better Human Resources Planning and Development. Sloan Management Review , 19 (1), p. 1.

Sparrow, P.R., 2007. Globalisation of HR at function level: Four case studies of the international recruitment, selection and assessment process, International Journal of Human Resource Management, 18 (5), pp.144 -166.

Sparrow, P.R., 2009a. Handbook of international human resource management: integrating people, process and context. Chichester: Wiley.

Sparrow, P.R., 2009b. International reward management. In G. White & J.Drucker (Eds.), Reward management – a critical text. London: Routledge. pp. 233-257.

Sparrow, P.R., 2010. The Innovation Imperative: Charting the Territory for HR. Centre for Performance-led HR White Paper 10/01. Lancaster University Management School.

William. J. R., 2008. Effective succession planning. Ensuring leadership continuity and building talent . West port, CT: Airtime publishing Inc.

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