Talent Management Strategy: Talent Company X
The purpose of any successful talent agency is to find employment for actors, authors, film directors, musicians, models, producers, professional athletes, and the like. As such, it is essential for every successful talent agency to employ a staff that is both proficient enough and large enough to handle a steady influx of clients in many different areas of the entertainment business. At hand is the fictional talent company, Talent Company X, which employs a workforce of 200 individuals, with 20 of these individuals identified as leaders who are capable of heading divisions of the company and/or projects and initiatives. In understanding the size of the company at hand as well as the many different areas of talent with which these individuals will deal, it is essential that Talent Company X derives a management strategy that is able to encompass the entire talent requirements of the organization.
Research has found that over the past generation, talent management practices, especially in the United States, have been by and large dysfunctional (Cappelli, 98). As such, it is essential that the goal of Talent Company X is to streamline the admission process as well as the maintenance of clients one processed into the company. Despite all that is known about the importance of developing talent, and despite the great sums of money dedicated to supporting the management of talent in such companies, a significant oversight occurs in the overall management of individual clients (Conger and Ready, 1). As such, it is essential that once a client is accepted into the agency, having been passed by one of the 20 recognized leaders within the company, he or she remains under the watchful eye of this respective leader, despite the interactions he or she will have with the remaining members of the company. In instilling this oversight by upper-level management, one can better control the standards of excellence set in place within the company.
Key Components
A successful...
Certainly, many individuals who have been linked to talent agencies throughout the world had simply "that certain something" which was needed to get a foot in the door within the industry. However, in order to prove a viable investment, an individual must prove themselves willing to follow the direction of the agency in order to further his or her career in the manner that he or she and the talent agency see fit.
As no individual's career is made overnight, talent within the company must be consistently monitored and reviewed in order to interpret whether or not the individual under contract will continue to be a viable asset to the company. While the initial "something" that allows a talent agent to identify and assess the talent at hand, in terms long-term retaining by the company, money becomes a large factor. Talent Company X, as with any successful company, must be able to turn a profit on the talent the recruit. F The right talent must be placed in the right roles in order for success (Cohn, Khurana and Reeves, 1). As such, while the company may pay out of pocket to develop its talent and hone their skills, in the end, overall profit must overtake costs in order for the retaining of a client to be considered reasonable.
Competitive Advantage
Talent management is key to developing competitive management for an organization. All organizations, whether in the public or private sector, aim to achieve strategic objectives which requires a clear understanding and linkage between these strategic goals and the key capabilities required for this achievement (Scott-Jackson, 1). Such is true significantly in the field of talent management. All talent managers view a client as a means to eventual success in a certain field of entertainment. However, it is in how these clients are managed and which projects these clients are allowed to take which…
