A passing review of talent management literature reveals a degree
of dialogue on the abstract boundaries of the subject. Some
would just substitute talent management with Human Resource Management which is
not the case.
(Mellahi and G. Collings, 2009). While
Human Resourcing is focused on the administrative part of it, talent management
deals with the overall business goals normally implementing a company-wide
long-term plan. Talent management is a business strategy and must be fully
integrated within all of the employee
related processes of the organization. ( Mcdonnell, A., 2017).
Talent management is not only about hiring individuals for the job
but it’s also about knowing when to hire. Organizations are using social media
and job recruitment sites to hire new talent. In today's day and age, talent
management is not just a hiring process, but a more selective way to create a
suitable workforce for the organization. The recruitment sites are
significantly improving their ability to sort through data more quickly so that
organizations can find the most suitable candidate effectively. (Al Ariss, A.,
Cascio, W. and Paauwe, J. 2014). A company goes through a step-by-step hiring
process which has three key phases, including planning, recruitment, and
employee selection. There maybe variations when the entire hiring process is
conducted remotely. (Doyle, A.,
2020).
A few of the following elements would assist to improve the
organizations hiring practices. Building a strong employer brand will ensure
that the organization can engage more actively in the recruitment process.
Writing better job descriptions will ensure that the organization will attract
potential employees to better fit the needs of the organization. While the pros
and cons need to be considered when embracing the digital trends and social
media platforms, this too can offer any organization the opportunity to recruit
candidates that keep up with the latest tech trends. Fitting the correct
personality to the job can be tricky. The kind of person the organization hires
depends on the job and the culture of the organization. The candidates'
personality traits will need to be considered to ensure it aligns with the
daily job task. (Caramela, 2018)
Furthermore, there are individuals from distinctive eras working
in an association. The more seasoned era should retire and the modern era has
got to take control of the hierarchical process (Cook, I. 2015). This will
present unused strategies for working and adaptable working hours which will
lead to a new relationship between the organization and its employees. The
organizations will introduce new applications to handle HR-related tasks which
will allow them to connect with their employees round the clock. (Cook, I.
2015). As mentioned above, the proportions of the organizations that are
actively trying to draw in the talent of all ages are increasing. (2015: 65%,
2013: 60%, 2012: 59%, 2011: 45%). (Resourcing and Talent Planning, 2015). It is
also observed that many private sector organizations are on the lookout to
recruit and employ candidates aged 50+. Just 10% of organizations claim to
employ younger workers. (Resourcing and Talent Planning, 2015).
New and improved scientific ways can be used to improve the decision creating process once additional knowledge relating to workers can permit them to possess new algorithms to choose what's best for the organization (Juneja, P. 2015). The new generation can continuously realize the most effective opportunities thanks to the economic process. Proficient folks can continuously opt for higher work/life balance opportunities and organizations will be compelled to prepare themselves to handle the new international force revolution (Caramela, 2018).
References
Al Ariss, A., Cascio, W. and Paauwe, J. (2014).
Talent management: Current theories and future research directions. Journal of World Business, 49(2), pp.173-179.
Caramela, S., 2018. 7
Ways To Improve Your Hiring Process. [online] Businessnewsdaily.com.
Available at:
<https://www.businessnewsdaily.com/7155-startup-hiring-tips.html>
[Accessed 15 October 2020].
Caramela, S.,
2018. 7 Ways To Improve Your Hiring Process. [online] Businessnewsdaily.com.
Available at:
<https://www.businessnewsdaily.com/7155-startup-hiring-tips.html>
[Accessed 15 October 2020].
Cipd.co.uk.
2015. Resourcing And Talent Planning. [online] Available at: <https://www.cipd.co.uk/Images/resourcing-talent-planning_2015_tcm18-11303.pdf>
[Accessed 16 October 2020].
Cook, I. (2015). This is What Talent Management Will Look Like By The Year 2018 —
Are You Ready?. [online] Human
Resources Today. Available at: http://www.humanresourcestoday.com/2018/talent-management/wellness/?open-article-id=3453491&article-title=this-is-what-talent-management-will-look-like-by-the-year-2018---are-you-ready-&blog-domain=visier.com&blog-title=visier
[Accessed 15 October 2020].
Doyle, A.,
2020. Learn All The Steps In The Recruiting And Hiring Process.
[online] The Balance Careers. Available at:
<https://www.thebalancecareers.com/recruitment-and-hiring-process-2062875>
[Accessed 14 November 2020].
Juneja, P. (2015). Talent Management for the New Generation. [online] Managementstudyguide.com. Available at: https://www.managementstudyguide.com/talent-management-new-generation.htm [Accessed 15 October 2020].
Mcdonnell, A., 2017. [online] Available at: <https://www.researchgate.net/publication/312032404_Talent_management_A_systematic_review_and_future_prospects> [Accessed 14 November 2020].
Mellahi, K., and G.
Collings, D., 2009. Strategic Talent Management: A Review And Research
Agenda. [online] ResearchGate. Available at: <https://www.researchgate.net/publication/228672156_Strategic_Talent_Management_A_review_and_research_agenda>
[Accessed 15 October 2020].
Hi Melissa, according to Harvard Business Review (2018), March/April issue, HR going agile is the newest concept HR professionals will have to adopt and the new rule for talent management. This will transform the way organizations hire, develop and transform their people. Recruitment process for example will rely heavily on technology to hire the best candidate for the position and company’s like GE, IBM and Cisco are already working with vendors to build software tools for this purpose.
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ReplyDeleteHi Melissa, I would like to add this, people are becoming an increasingly valuable resource for organizations to gain a sustainable competitive advantage, so keeping and keeping the right people in the right places at the right time has never been a challenge, in fact, it is a talent management approach (Mohamed, S. 2014).
ReplyDeleteHi Ranga, by “right person/right job” doesn’t mean the traditional “skillfit” but rather the underutilization of talent by putting top performers into inconsequential jobs and vice versa. (Sullivan. J 2001)
DeleteThe unprecedented complexity of today’s business context – marked by globalization, technology, and broader socio-economic, geopolitical and demographic changes – even increases the necessity to focus on identifying, attracting, recruiting, developing and retaining talent to navigate the challenges of it (Claus, 2019; Reiche, Lee, & Allen, 2019; WEF, 2016). Talents are seen as unique strategic resources, central to achieving sustained competitive advantage (Dries, 2013a), and organizations use TM to capture, leverage and protect these resources (Sparrow & Makram, 2015). Talent-related issues are a major concern of many CEOs (Bhalla, Caye, Lovich, & Tollman, 2018; Groysberg & Connolly, 2015), and more than 75% of CEOs highlighted the scarcity of essential skills and capabilities as a key threat to the growth prospects of their organization (Vaiman, Collings, & Scullion, 2017).
ReplyDelete72% of CEO’s say they are worried about the availability of key skills. This does not mean a lack of people around the globe, but rather a lack of people with the right skills and abilities. This trend has already affected a broad swath of companies and is expected to worsen in the coming decades. (PwC 2019)
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ReplyDeleteStrategic Human Resources Management in line with Human Resource Management are essential elements of the Leadership and People Management (CIPD, 2012).
ReplyDeleteThe ability to attract and retain top talent is rapidly becoming a key issue for human resource management at universities (Huisman et al., 2002; Metcalf et al., 2005; Kubler and DeLuca, 2006). Universities are certainly not the only employers competing for highly qualified employees, and a number of recent surveys suggest that academic disciplines are already suffering from a chronic shortage of talented people in some countries (Gilliot et al., 2002; van Balen & van den Besselaar, 2007; Lubbe and Larsen, 2008; Edwards and Smith, 2010).
ReplyDeleteThere’s a list of common errors managers make in how they treat and place their top performers. Some of these errors are failing to identify a firm’s “mission critical’ positions, and failing to focus their energies on these critical positions. This is applicable to 10% of all jobs. Also, the failure to identify top performers and failing to treat them differently than the average worker are just the tip of the iceberg. (Sullivan. A. 2019)
DeleteTalent management has become so important to organization due to many reasons and few would be like, it reduces cost of hiring, training and development: an effective talent management practice will eventually decrease the expenditure of organizations on hiring, training and development. This is true because organizations would not be frequently going through the recruitment process when they have standard systems for talent management in place, thereby minimizing the cost associated to it (Abdul-Kareem, A 2016). New employees cost the company 30-60 % more than the existing employee in terms of compensation only (Abdul-Kareem, A 2016). An efficient practice for talent management gives HR managers deep insights about their workforce. They will be able to have in-depth understanding of their employees’ development needs, career aspirations, strengths and weaknesses, abilities, likes and dislikes. On this basis, managers will then be in better position to determine what motivates whom and this helps a lot in job enrichment process (Abdul-Kareem, A 2016).
ReplyDeleteNaturally, talent management includes many of HR's duties. All the same, it is not enough to expect that you are handling talent simply because you have an HR department. To obtain optimal results, you need to have a talent management strategy in place designed just for your business (Caramela, 2018).
ReplyDeleteEmployee retention is a critical issue as companies compete for talent in a tight economy. The costs of employee turnover are increasingly high- as much as 2.5 times an employee’s salary depending on the role. And there are other “soft costs” lowered productivity, decreased engagement, training costs and cultural impact. The bottom line is that by focusing on employee retention, organizations will retain talented and motivated employees who truly want to be a part of the company and who are focused on contributing to the organization’s overall success, according to SHRM. (Florentine. S. 2020)
ReplyDeleteNeill and Heinen (2004), state that successful organizations always give importance to attracting, retaining and developing the talent and it also assists the organization in making the company’s strategy that align the business plan with skilled employees. Anyway, if an organization fails to utilize human capital then the result will be in the form of business decline. There are different features of talent management like recruitment, selection, on-boarding, mentoring, performance management, career development, leadership development, replacement planning, career planning, recognition and reward (Rothwell, 2003).
ReplyDeleteScullion and Collings ( 2011) states that , Talent Management is increasingly identified as a critical success factor in the cooperate world. The topic came in 1990's when a group of Mckinsey consultants coined the term " The war of Talent. Internal development was the norm back in the 1950's and every management development practices that seems novel today was commonplace in those days - from effective coaching to 360 degree feedback to job rotation to high potential programs.(Cappelli,2013)
ReplyDeleteFirst when look in talent definition its not easy to define but, According to Gagne´ (2000), talent exists in the few individuals who have the necessary capabilities to make a difference in a given field of human endeavour, whether it is academia, arts, leisure, sport, social action, technology or business. Gagne´ (2000) argues that talent emerges from ability as a consequence of an individual’s learning experience. Definition of talent is from Gagne´ (2000), who notes that the term talent designates the superior mastery of systematically developed abilities and knowledge in at least one field of human endeavour.
ReplyDeleteIt is vital to have a successful talent management strategy in an organization. According to Cappelli (2008) suggested that the signs of a successful talent management strategy are that it is inclusive and that it can address and resolve any incongruity between the supply and demand of talent.
ReplyDeleteHi Melissa, while the global talent shortage remains a significant human resource talent challenge for global firms, equally significant global talent challenges have emerged and these include those associated with the need to:(a) reduce and remove talent in order to lower the costs of operations; (b) locate and relocate of operations around the world; and (c) obtain equally competent talent anywhere in the world at lower wages (Guthridge et al., 2008).
ReplyDeleteTalent management has always seemed to me to be a tricky subject. It is at risk of becoming mere hyperbole, as in ‘the War for Talent’, or of becoming the fad of the conference circuit because the term lacks a clear definition. Proposed definitions are, at worst, a mélange of different concepts strung together without a clear statement of what is meant by talent and how we might manage it (Reilly, 2008)
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ReplyDeleteAccording to Armstrong, M (2017), relational rewards help to deliver a positive psychological contract and this can serve as a differentiator in the recruitment market which is much more difficult to replicate than individual pay practices. The organization can become an ‘employer of choice’ and ‘a great place to work’ thus attracting and retaining the talented people it needs.
ReplyDeleteTalent management can be defined as the systematic set of strategies to get the right set of skills and abilities to help the organization develop and grow in order to achieve perceived objectives (Blass, 2009). One of the major challenges linked with talent management is the lack of understanding of the elements incorporated to it. Starting job design to the point of effective interviews has to be understood clearly by everyone to create an effective talent management process (Ansar et al, 2018).
ReplyDeleteIn present talent-hungry marketplace, one of the greatest challenges that organizations are facing is to successfully attract, assess, train and retain talented employees. Talent Management is the end-to-end process of planning, recruiting, developing, managing, and compensating employees throughout the organization. Human resource is the only one resource which makes any organization different from others. It creates competitive advantage and also helps to build sustainable growth for corporate. Corporate throughout the globe are also facing the problem of talent shortage. Many jobs do not have right employees with proper skill sets. Attracting a right talent and also retaining them in a corporate is a greatest challenge for today’s HR managers. Therefore, talent management is a great and complex task for mangers. Employer branding and employee engagement can be used as a strategic tool to retain and mange talents. In the “War of Talents”, Talent has won. Therefore, Corporate today consider Talent Management as a Strategic weapon in the battle of Talents (Hongal & Kinange, 2020).
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