Essay On Talent Management in an Organization
Added on 2020-04-01
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Running head: TALENT MANAGEMENTTalent ManagementName of the student:Name of the university:Author note
1TALENT MANAGEMENTThis essay is based on Talent management. Talent management is an organization’sassurance to employ, maintain and build up the most excellent and capable employees availablein the job market. It is an important term used to describe the organization’s dedication andpromise to hire and hold the brilliant employees. It involves the work processes and systems thatare associated with maintaining and developing a better work force. It is a business managementstrategy that is believed to retain the talented employees in order to build up a superiorworkforce. It is similar to employee involvement or recognition and helps to ensure that thetalented and better employees get hired by the organization. When the employees will get toknow about the talent management strategy of the organization, they will put their utmost effortin order to get selected as the most talented employee(Al Ariss, Cascio and Paauwe 2014). There are several internal and external factors which influence the approach of anorganization to recruit talented employees. The size of a business is dependent on the talentmanagement plan. For a bigger business, it would be easy to source talent management as theyare recognized by the public and they have a strong financial support to advertise for the post andget lots of employees at hand(Arora 2015). The value of the employees has been increased by the contemporary knowledgeeconomy. It became the prime factor for differentiating in the market where goods or servicescan be easily duplicated(Beaverstock and Hall 2016). The increase in globalization has led to talent crisis in the developed countries whichmade the low-cost labor unavailable with the increase in number of consumers and progress intechnology(Cappelli and Keller 2014).
2TALENT MANAGEMENTWhen talent management strategy will be created and implemented, there must be anatural flow and succession from the overarching theories and concepts which can easily guidethe transitions to methods of the entire talent management. A talent management strategy will besuccessful only if it is understandable and can match up to thegoals and long- term objectives ofthe company(Cerdin and Brewster 2014). Demographic factors are the primary causes for the organizations to adopt the practicesfor working in increasing diversity in the labor market. Diversity has the capability to change agroup of potential employees, their needs, and also influencing a wider business objective. Theconstant change in the demography of the wider population reflects that the organization has theneed to develop strategies for fulfilling the consumers’ desires(Dries 2013). Demographic changes are ongoing at a constant rate in the global sector of organization.In that case, growth rate of population and ageing population are balanced to suppressed localeconomies. The ability of the organizations to become successful in identifying global talentfrom abundance to scarcity is a strategic challenge. The longevity and increased health in the organization reflects the fact that there are moreseniors working which helps the organization to retain experienced members till their retirement.But the drawback is posed by the complicated workforce planning which raises challengeassociated with longer succession planning (Serrat 2017). Globalization has led to increased diversity in the team and workplace. For getting thebenefits of a diverse workplace, it can support the risk of cohesion, initial productivity andcultural bias. With a varied diversity comes new opportunities for instance, recruiting the
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