Strategy For Talent Management Research Paper

Length: 8 pages Sources: 6 Subject: Business - Management Type: Research Paper Paper: #65173261 Related Topics: Competitive Strategies, Corporate Level Strategies, Compensation Management, Corporate Strategy
Excerpt from Research Paper :

Talent Management Strategy

Talent Management System

Talent management is a major requirement for company success within a competitive market environment. By definition, talent management refers to the application of integrated techniques tailored to enhance productivity of the workplace via coming up with enhanced procedures for attracting, developing, maintaining, as well as using individuals who possess the needed expertise and abilities to satisfy the present and future business requirements. According to current research, 85% of human resource managers mention that the one major difficulty in workplace management is the establishment or sustenance of their organization's ability to compete for talent (AberdeenGroup Inc., 2005). Currently, efficient talent management, without a doubt, offers one of the vital points of tactical leverage.

Formulate a talent management strategy to encompass the entire talent requirements of the organization.

Human resource (HR) assumes several positions being a major owner of talent management; that of the driver of the talent as a very significant position. Human resource heads the path for the company to possess as a unit, the position of talent management to attain success for the firm. In its position as a business partner, human resource works very closely with the CEO, the senior executives, and the board in order to make sure that they are all dedicated to talent management efforts. Human resource also plays a major role as a talent management facilitator. Here, it gives special consideration to the manner in which the company's culture encourages talent (Dell & Hickey, 2002). In general, HR's role entails communication of the talent management idea throughout the organization in addition to being familiar with the industrial competition. Moreover, HR has the responsibility of establishing a practical and an integrated strategic technique towards talent management (the bigger picture) in addition to running vital data, like keeping track of turnover and also knowing the factors that influence the maintenance (Lockwood, 2006; Dell & Hickey, 2002).

In order to incorporate talent management into all aspects of the organization, human resource also has an important position in influencing change. To facilitate this, human resource deals with four talent management activities: managing of performance, recruitment, organizational tactics, and enhancement of leadership (Walker & LaRocco, 2002). In this particular role, HR takes care of four specific risks to the business: 1) risk of vacancy so as to protect major business abilities, concentrate on limited skills and fit to position); 2) risk of readiness in order to hasten leadership development and offer complete corporate exposure to upcoming stars; risk of transition so as to prevent loss of major talent, choose an successor with great leadership expertise and recruit for organization ability; and 4) risk of portfolio towards deriving the most of strategic talent leverage, concentrate on dedication of senior management to perform and develop the standards (Lockwood, 2006).

Finally, practical human resource leaders adopt a holistic strategy, towards talent management. It is quite essential to develop vivid prospects and to have an open communication concerning the talent management procedure. Through human resource role of explaining to the administration and its workers the importance of talent management, the manner in which it functions and its advantages to the company and participants, talent management tactics are more probably to be viewed as a just procedure (Burke, 2005).

Efficient talent management practices and regulations which display dedication to human capital lead to more active and involved workers and reduced turnover. As a result, engagement of workers has a significant influence on employee productivity and talent maintenance. The bottom line can actually be broken or strengthened by employee participation. The workers who are the most dedicated, do 20% better in addition to being 87% less probable to quit. Moreover, the basis for an active workforce is developed by the depth, quality and legitimacy of communication by human resource and higher management to the workers and the management quality (Lockwood, 2006). The manager's position as the most crucial facilitator of employee dedication to the job and company cannot be underestimated. In addition, when conducted properly, actions which encourage talent management also back employee participation ( such as work-life balance programs- performance management...


A Carlson / Gallup research on employee participation and business achievement displayed that workers who were totally satisfied at the workplace were four times more probable than the unpleased workers to a have a formal evaluation procedure in place in addition to attaining usual job recognition. An additional 82% mentioned that recognition inspired them to do better (Burke, 2005). An increase has been realized in the manner by which companies are putting formal and informal compensation programs in place. On the other hand, to be more efficient, companies ought to regularly communicate to the workers about the compensation programs.

. Efficient employee engagement is a fusion of tangible and intangible aspects; it promotes an environment of stimulation, learning, development, recognition and development. A recent research, however, realized that less than a fifth of the workers were greatly engaged, about a fifth of the workforce was disengaged and approximately two-thirds were just about engaged. The degree of dissatisfaction changes depending on work experience (such as greater workloads, minimum developmental opportunities, etc.) (Lockwood, 2006).

The major challenge and opportunity for the HR, working together with higher management, is to enhance employee engagement strength. Concentration on engagement calls for strong leadership, a sense of shared destiny, responsibility, and independence for development. Towards engaging the employees better, organizations ought to work harder to motivate individuals and present a sense of pride, passion and mission (Throop, 2005). Eventually, employee engagement and talent maintenance is influenced by the organizational culture.

Determine the key components of talent management, including identifying, assessing, and developing talent.

i. Selection and recruitment

Successful talent management tactic starts with selection of the suitable individual for every position. Employing individuals can be risky; however, recruiting the suitable individual founded on information could minimize risks and raise the possibility of achievement. Every person possesses his/her own talents and skills. For instance, some individuals tend to be shyer while others have the confidence of interacting easily with others (Lux, 2013). Efficient selection starts by identification of the appropriate skills for the role. Gauging the skills of the applicants and comparing them to one's requirements raises the chances of achievement for all that are taking part (Lockwood, 2006).

Putting a shy individual into a job position that requires a significant interaction with others would lead to aggravation and, eventually impede performance. There are, of course certainties. On the other hand, individuals possess personality tendencies that assist in revealing where they are most suitable and where they might encounter some difficulties. Exploiting the match between a person and the role will improve job performance (Lux, 2013).

ii. Capability-based Assignment

The capability-based assignment (CBA) technique compares the expertise, knowledge, and behaviors (developed or attained) of a person with the organizational approach, objectives, and mission in order to identify the candidate best suited for the position. The CBA needs are founded on the mission and the kind of company. Some of these requirements are generic while others are unique skills (Nagra, 2011). It is the most common device presently being utilized by senior leaders and the HR for identifying past and present performance. For instance, the joint efforts in the senior management and the HR will:

Provide an opportunity for the implementation of CBA

Recognize high potentials for the future primary roles

Recognize and encourage succession planning for major roles to extremely flexible and active employees

Offer learning which is significant and suitable to guarantee readiness of the successive positions.

Come up with leaders who strengthen corporate values and talent culture

Permit human resource to align the talent management procedure and human capital with associate members (Nagra, 2011).

Examine how the talent management process is a strategy for a competitive advantage for your organization.

Talent management is a representation of one of the most significant functions impacting competitive advantage success. Companies should, therefore, work on associating talent management as a tactic with corporate and business approach, in addition to organization of various functions, to attain a high level of competitive advantage. Talent management and skills are incorporated into an organization's strategy, hence, they can be perceived as a source of competitive advantage. Knowledge incorporation is now an important device implemented to acquire competitive strength. Assessment of the degree to which talent management has developed in competitive advantage success and incorporation into strategic management of the company is founded on the capability of the top directors to offer a strategic incorporation of knowledge management practices. A second set of results disclosed that knowledge incorporation is more significant than talent management and all management variables as knowledge incorporation possesses direct and indirect influence on the competitive advantage (Alma'aitah, Al-Shalabi & Aljamal, 2013).

In order for a company to completely utilize the potential of their internal talent, they ought to initially choose those…

Sources Used in Documents:


AberdeenGroup Inc. Human Capital Institute. (2005). Retaining talent Retention and succession in the corporate workforce. Boston: Author.

Alma'aitah, M.A., Al-Shalabi, F.S. & Aljamal, W.H. (2013).Talent Management and Competitive Advantage: The Moderating Effect of Knowledge Integration. International Journal of Computer Applications (0975 -- 8887) Vol. 66, No.11.

Burke, M.E. (2005, March). 2005 reward programs and incentive compensation survey report. Alexandria, VA: Society for Human Resource Management.

Dell, D., & Hickey, J. (2002). Sustaining the talent quest. New York: The Conference Board.

Cite this Document:

"Strategy For Talent Management" (2015, August 12) Retrieved January 27, 2022, from

"Strategy For Talent Management" 12 August 2015. Web.27 January. 2022. <>

"Strategy For Talent Management", 12 August 2015, Accessed.27 January. 2022,

Related Documents
Talent Management Strategy the Objective of This
Words: 1365 Length: 5 Pages Topic: Business - Management Paper #: 59952940

Talent Management Strategy The objective of this study is to determine which performance management process will be employed to measure employee talent and analyze the key concepts related to the talent pool and the talent review process. This study will develop appropriate talent management objectives to measure functional expertise and assess the key elements of global talent management as they apply to the organization. Finally, this study will recommend a process

Talent Management at Bofa Talent Management Bank
Words: 1918 Length: 5 Pages Topic: Business - Management Paper #: 94675270

TALENT Management AT BofA BofA Talent Management Bank of America's talent management program led to success for the company Bank of America's executive performance and retention strategy breaks down into the objectives set out in Figure 2.1 (Fisher and Congel, 2009, p. 22), 'attract, retain and develop great leaders.' This process occurs in distinct phases over the first 36 months of executive promotion but begins even before the new hire, if 'attracting great

Talent Management Strategy in Profit and Non-Profit Organizations
Words: 1311 Length: 4 Pages Topic: Business Paper #: 44686192

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

Talent Management Models, Theories, and
Words: 2520 Length: 8 Pages Topic: Business Paper #: 6644091

Build a strong achievement ethic throughout the business Create exciting, challenging jobs in which people can excel. Select and develop outstanding leaders. Make talent management a critical corporate priority Foster a talent management mindset. Develop managers who can coach, mentor, empower and sponsor talent -- and deploy it to best advantage. Develop the necessary skills to lead and manage talent. Make managers accountable for managing talent. Create the means to identify and select outstanding talent Be clear about what

Talent Management Discuss What Factors Emerged at
Words: 1328 Length: 4 Pages Topic: Business Paper #: 78951171

Talent Management Discuss what factors emerged at Whirlpool that impacted its talent needs. There are several different factors which had an impact on Whirlpool and its talent needs. To include: the growth of the business, consumer demand for new innovations and the necessity to attract / retain the best talent. As far as the growth of the business is concerned, the company was focused on expanding into a number of different markets

Porter Novelli: Performance Management and Talent Management
Words: 2419 Length: 7 Pages Topic: Business - Management Paper #: 45079489

Porter Novelli Case Study / Porter Novelli: Performance Management and Talent Management Role Played by Leaders Effectiveness of Talent Management Strategy Critical Evaluation of Talent Management Strategy Alternative Way Porter Novelli is one of the world's top public relations firms. With ninety offices in about 60 nations, the firm provides best-in-class service to its customers all around the world. As the firm that started social marketing, it's heritage is anchored in influence encouraging individuals to