People Management And Talent Management Term Paper

Length: 8 pages Sources: 10 Subject: Business - Management Type: Term Paper Paper: #24459488 Related Topics: People, Elective, Compensation Management, Performance Appraisal
Excerpt from Term Paper :

People and Talent Management

The following work examines people and talent management and the importance that this has for today's organizations. The works reviewed in the study demonstrate the need for and the methods used in today's people and talent management. Reviewed is the work of Stockley (2011) as well as other various works that relate the processes and methods of people and talent management in today's organizations.

Findings in this study include that talent management is somewhat different for each organization because talent is different for each organization, or in other words, what is valued as talent in one organization may not necessarily be valued as 'talent' in another organization. Talent then is organization specific and each organization provides support toward talent management based upon that specific organization's values and what they view as 'talent'. It is necessary to manage the people within the organization in order to identify the organization's talent so that it can be supported, enabled and developed for the organization's gain and in view of the organization's present and future objectives.

People and Talent Management

Objective

The objective of this work in writing is to conduct an in-depth analysis of the concept of people and talent management. Therefore, this work will conduct a critical review that includes an examination of the application of theories, models, and frameworks and which provides clear evidence to demonstrate theoretical understanding and application ability of the concepts in organizational behavior perspective.

Introduction

The work of Stockley (2011) defines talent management as "A conscious, deliberate approach undertaken to attract, develop and retain people with the aptitude and abilities to meet current and future organizational needs." Stockley goes on to state that talent management "involves individual and organizational development in response to a changing and complex operating environment. It includes the creation and maintenance of a supportive, people oriented organization culture." (2011)

I. Definition of the Concepts of People and Talent Management

Talent management is reported to be such that "brings together a number of important human resources (HR) and management initiatives." (Stockley, 2011) Organizations that make a formal decision to manage their talent are stated to in actuality be undertaking "a strategic analysis of their current HR processes." (Stockley, 2011) The organizations that adopt the talent management approach have as their focus the coordination and integration of the following:

(1) Recruiting -- making sure that right individuals are attracted to the company;

(2) Retaining- development and implementation of practices that result in employees being supported and rewarded;

(3) Development of employees -- making sure continuous learning and development takes place both informal and formal learning;

(4) Leadership and 'high potential employee' development which involves specific development programs for present and future leaders of the organization;

(5) Management of performance -- processes that are specific to providing support for performance which includes such as measurement of performance and feedback;

(6) Planning of the workforce -- this involves business changes as well as general changes being planned for and this is inclusive of the older members of the workforce and in addressing workforce shortages in the present and future of the organization;

(7) Culture -- this involves the positive and progressive development of high performance and making this a method of operation within the organization. (Stockley, 2011, paraphrased)

II. Explanation of Why People and Talent Management Have Become Important

Management of talent is increasingly critical to organizations today due to the need for planning for management of the older workforce comprised of by members of the Baby Boomer generation. Skill shortages are cited as one of the primary reasons that talent management is a critical issue in today's organizations and it is stated specifically in regards to talent shortage that in the future "…It may not be possible to simply go out and recruit new people to meet operational needs. Many leading companies have decided to develop their own people, rather than trying to hire fully skilled workers." (Stockley, 2011) Cited as well is the competition for talent is presently experiencing growth and as well "workforce demographics are evolving." Additionally the "context in which organizations conduct their operations is increasingly complex and dynamic." (Stockley, 2011) It is also reported that "more efficient capital markets have enabled the rise of small and medium-sized organizations that offer opportunities few large organizations can match and todays "financial markets and boards of directors demand more." (Stockley, 2011) Furthermore, "the mobility...

...

Talent is hard to find it is becoming harder to keep." (Stockley, 2011)

III. The Components of People and Talent Management and the Enables of These Concepts in a Corporation Organization

It is reported that the 'people strategy' is such that is inclusive of elements that are beyond what is commonly referred to as talent management. These elements include those as follows:

Target segmentation -- identification of the critical pools of people in the organization and how they will be managed, compensated, trained and hired differently. The company's "people strategy" must include things which go beyond what we would call "talent management";

Understanding pivotal talent -- it is reported that the concept of pivotal talent is not new and involves the organization understanding which roles are of the greatest value today and in the future;

Integrated compensation or total reward strategies -- the majority of "talent management" teams are very OD focused. They do not directly integrate with the compensation function yet. But once you think about your organization's business strategies, talent segments, and pivotal talent, it is now important to consider compensation within the same framework";

Diversity -- this asks how the organization will "dovetail…diversity strategy into our talent management strategy?

Talent planning -- how the organization will "plan, model, forecast, and manage the pool of people we have, the people we need, and their requisite skills and capabilities? Using highly skilled contingent workers is a business strategy, not just something to account for in HR";

Career models and deep specialization and skills -- the majority of organizations realize that their "core business is dependent on deep levels of skills within certain critical roles; and Learning Culture and Business agility -- this topic is now at focus and asks the question of how the organization can learn more rapidly. The topics of innovation, leadership, new business growth, harvesting of existing businesses, all depend on the "people strategy." (Kaiser Permanente, 2008)

IV. Examples of companies, which focus on People Management and Talent Management

The 'High Impact Talent Management Framework' is reported to be such that is inclusive of the following metrics, compensation, and talent strategy and planning including the listed subsets of each of these that include: (1) sourcing & recruiting; (2) management of performance; (3) planning of succession; and (4) development of leadership. (Kaiser Permanente, 2008) It is reported that talent management philosophy at Siemens' "involves making sure that every employee is provided with the guidance and support to achieve their full potential." (Kaiser Permanente, 2008) This is because the employees are then enabled to do their best and to work collaboratively toward realization of the objectives of the organization and their own individual goals. The same vision and dreams are shared by all and this culture is conducive to employees growing ability to take on a larger responsibility in the organization. Talent management is stated to be something that every organization addresses however, Siemens enables: (1) job enrichment; and (2) responsibilities within an existing job role to make work more rewarding as well as enlargement of the job extending the existing job's scope broadening the range of employee responsibility and assisting the employee in gaining additional knowledge and to develop their skills. (Kaiser Permanente, 2008)

Stated as the result of application of talent management are the following:

(1) All customer-facing staff are engaged, so all customer benefit;

(2) Everyone has the potential and choices to achieve their best; and (3) The pipeline of highfliers is sustained. (Kaiser Permanente, 2008)

The performance management process at Siemens is such that this process "creates a direct link between the strategy of the whole organization and plans for each individual. Every individual is given targets based on their role and responsibility within the organization. It is through meeting personal targets that the individual is best able to help the organization to achieve its targets." (Kaiser Permanente, 2008) Performance management is a systematic process that creates trust and open communication by:

setting objectives monitoring progress made creating an ongoing dialogue between each team member and his/her manager enabling forthright discussion. (Kaiser Permanente, 2008)

Performance management at the Siemens company "…is the engine that drives Talent Management. It is the cornerstone of its high performance culture. When carried out in a consistent way, this system makes sure that everyone is told honestly about their performance. Employees are clear about the impact of their performance and what the consequences are for their development. Everyone within the organization is pulling together to achieve the business strategy." (Kaiser Permanente, 2008)

Hasbro reports that talent management…

Sources Used in Documents:

References

After Talent Management: Enter People Management (2008) Kaiser Permanente. 17 Dec 2008. Retrieved from: http://bersin.wordpress.com/2008/12/17/exit-talent-management-enter-people-management/

After Talent Management: Enter People Management (2008) Kaiser Permanente. 17 Dec 2008. Retrieved from: http://bersin.wordpress.com/2008/12/17/exit-talent-management-enter-people-management/

Corporate Social Responsibility: Talent Management and People Development (2011) Hasbro. Retrieved from: http://www.hasbro.com/corporate/corporate-social-responsibility/hasbros-socially-responsible-workplace-talent.cfm

Serratt, Olivier (2010) A Primer on Talent Management. Knowledge Solutions. Retrieved from: http://www.adb.org/documents/information/knowledge-solutions/primer-on-talent-management.pdf


Cite this Document:

"People Management And Talent Management" (2011, May 23) Retrieved September 18, 2021, from
https://www.paperdue.com/essay/people-management-and-talent-management-118798

"People Management And Talent Management" 23 May 2011. Web.18 September. 2021. <
https://www.paperdue.com/essay/people-management-and-talent-management-118798>

"People Management And Talent Management", 23 May 2011, Accessed.18 September. 2021,
https://www.paperdue.com/essay/people-management-and-talent-management-118798

Purpose of Paperdue.com

The documents we provide are to be used as a sample, template, outline, guideline in helping you write your own paper, not to be used for academic credit. All users must abide by our "Student Honor Code" or you will be restricted access to our website.

Related Documents
People Management to Strategic Human
Words: 3191 Length: 10 Pages Topic: Business - Management Paper #: 52401185

In addition, transaction costs may be too high to implement HR practice that is different from the HR policies being practice at the headquarter. Thus, to lower costs, it is critical for MNC to adopt HR standardization. (Dickmann,2008). Despite the argument in support of standardization of HR, there are challenges that a global company may face while implementing standardized HR practice on a global basis. The challenge in practicing standardization is

People Management and Talent Management
Words: 2622 Length: 8 Pages Topic: Business - Management Paper #: 74385902

People and Talent Management Concepts of People Management and Talent Management. People management and talent management go hand in hand. While people management is about hiring, retaining and managing all employees in an organization, talent management refers to the subgroup of attracting and retaining talented and highly skilled workers for the future needs of the organization. Armstrong (2006, p.3) has defined people management as, "a strategic and coherent approach to the management

People Management, the Mantra for Success: The
Words: 1628 Length: 5 Pages Topic: Business Paper #: 19199117

People Management, The Mantra for Success: The Case of Singhania and Partner Recruitment and Selection People form an essential part of the organization. The efficiency and quality of its people determines the outcome of the organization. Therefore choice of right people and placing them at right place becomes necessary. Hiring comes at this point of time in the picture. Hiring is a strategic function for HR department. Recruitment and selection shape the

Organizational Behavior and People Management Motivating Long-Term...
Words: 1170 Length: 4 Pages Topic: Business Paper #: 35352015

Organizational Behavior and People Management Motivating long-term company employees Competitive remuneration cannot be used in isolation to motivate employees of a company that is focusing on its long time future. Money, an extrinsic motivation, is believed to extinguish intrinsic motivation like achievement motivation. However, money can be used as an indicator of success for various motives. To make long time company employees develop interest in the company's long-term future, some elements of

Management and Leadership Within Every
Words: 1327 Length: 4 Pages Topic: Business - Management Paper #: 33778020

A second problem can be seen in the differences in cultures. This is especially apparent when looking at management styles. What might be considered acceptable in the United States might often be a cultural nightmare in another country. Trying to manage personnel in other parts of the world also brings about issues with communication. The ways in which people communicate is very different around the world. Again, something that

Managing Across Cultures 70
Words: 3211 Length: 10 Pages Topic: Business - Management Paper #: 93114531

Managing Across Cultures Internationalization of the economy has influenced companies to operate their business globally. The global operation has impact managers with several challenges. Market, product, and production plans must be coordinated on a worldwide basis. The global operation necessitates organization structure to balance centralized home-office control with adequate local autonomy. As companies have started their business operation on the international front, the number of their employees has increased. Increase in