Talent management in an organisation

 

Figure 1; talent-management-definition-importance

Talent management includes planning, recruiting, developing and finally managing the employees. This is a never-ending process and continuation of the same is vital for organisational success. These will create motivated and inspirational team to the organisation where it will be important in the long run. You may aware that we are unable to compare the exposure of a newly recruited employee vs a person who have ten year work experience on the same organisation.The value contributed by the experienced staff who is well trained over the years are a key to groom the youngsters/new comers to the organisation through their experience.

Further in a competitive business environment, globalization, technological developments, and innovation are the short-lived and the imitable ingredients for gaining competitive advantage (Barney, 1991). In order to sustain competitive advantage, firms should seek resources are long-lived and cannot be replicated (Heinen & O'neill, 2004; Mattone & Xavier, 2013).

 

The report, "The War for Talent‖ revealed by Chambers, et.al. (1998) underscored that talents will be future's unique source for gaining competitive advantage". In order to gain industry leadership, organizations strive to invest in human capital by attracting, developing and retaining employees (Boxall & Steenveld, 1999).it is claimed those human resources that are valuable, rare, non-substitutable, and inimitable are a source of competitive advantage for the firm (Barney, 1991; Barney & Wright, 1998)

 

Therefore, employees are a key factor when it comes to the sustainable competitive advantage hence we should more focus on the talent management in order to retain this great treasure called employees.

 

Key features of the Talent Management

 

Figure 2 ; talent-management-framework

 

·         Talent strategy and planning

First of all, we need to have a proper and experienced HR team to formulate a talent strategy and planning. They have to proactively identify the measure which needs to adopt within the organisation to retain employees. In this effect they could periodically review their rewarding schemes, transfer policies, promotion policies, recruitment policies, training & development policies etc. according to the present market conditions.

·         Talent Acquisition

Employers need to identify the employee requirements in the organisation even prior to arise such requirements in order for smooth transition of talent acquisition. They have to identify potential market to attract new talent on periodical basis from participating job fairs conducted by universities and other professional bodies. Through this they could create a larger talent pool which will enable to pick the perfect candidate for the designated employment. Also, when recruiting it is mandatory to give the job description as well as the anticipation of the company to new recruits in order to mitigate higher employee turnover due to mismatch of ideas.

 

·         Employee performance management

Employees need to properly guide and mentor towards the company objective while assuring them the career progression. Therefore, employers have to properly communicate their expectation to their employees in advance to better prepare them for the next role. Further this process needs to discuss with the respective employees regularly to keep them on track.

 

·         Training and development

Training is a crucial part of employees’ life circle hence it adds value to the employee over the years. Therefore, employers need to set a training and development plan to their employees in order to groom them to the next level. In this effect they could use internal learning platform as well as they could encourage employees to follow professional courses from external institutes which add value to their scope of work. Also, management could offer some benefits such as an honorarium payment or some additional marks at promotion interviews to encourage employees on this effect.

 

·         Succession planning

Now following the above steps, we have well competent staff carder to perform duties. In order to maximize their impact to the organisation we have to put them in to the appropriate positions. Also, we need them now think as future leaders of the organisation which will empower them to do more in their capacity. Also, we have to shown them the proper pathway to achieve their career goals within the organisation in order to retain them.

 

·         Total rewards

Employees are seeking and employment mainly because to earn attractive remuneration. Therefore, we have to introduce attractive remuneration package which consist of incentives, allowances based on their performances which will mutually benefitted for the both parties. Further existing remuneration packages needs to be compared with competitors periodically to retain the experienced work force.

Video 1 : What is Talent Management?

Conclusion

Talent management is a sensitive thing which needs to handle diplomatically since the employees are the largest asset for the employers. Further talented experience work force giving an organisation to sustainable competitive advantage as well.

References

Figure 2; talent-management-framework, online available at : https://www.aihr.com/blog/talent-management-framework/

Figure 1 ; talent-management-definition-importance, online available at : https://www.feedough.com/talent-management-definition-importance/

Video 1 : What is Talent Management?,HR university available online at : https://www.youtube.com/watch?v=2UqiSFAEUx4

 

Barney, J. (1991). Firm resources and sustained competitive ad- vantage. Journal of Management, 17, 99–120

Heinen, J. S., & O‘Neill, C. (2004). Managing talent to maximize performance. Employment Relations Today, 31(2), 67–82. http://doi.org/10.1002/ert.20018

Mattone, J., Xavier, L. (2013). Talent Leadership: A Proven Method for Identifying and Developing High-Potential Employees, AMACOM

Chambers, Elisabeth. G., Foulon, M., Handfield-jones, H., Hankin, S. M., & Iii, E. G. M. (1998). The War For talent. The McKinsey Quarterly, (3), 44–58.

Selman.T,2017, Talent Management: A Review of Theoretical Perspectives and a Guideline for Practioners, Nile Journal of Business and Economics ,available online at : https://www.researchgate.net/publication/314126492_Talent_Management_A_Review_of_Theoretical_Perspectives_and_a_Guideline_for_Practioners

Boxall, P. , Steenveld, m. (1999). ‗Human Resource Strategy and Competitive Advantage: A Longitudinal Study of Engineering Consultancies.‘ Journal of Management Studies ,36(4): 443–463.

Barney, J. B. and Wright, P. M. (1998), On becoming a strategic partner: The role of human resources in gaining competitive advantage. Human Resource Management, 37: 31–46.