Importance of Talent Management Strategy and Consequences of Not Doing the Same

Running head: TALENT MANAGEMENT
TALENT MANAGEMENT
Name of Student
Name of the University
Author Note

TALENT MANAGEMENT1
Table of Contents
Introduction......................................................................................................................................2
Discussion........................................................................................................................................3
Importance of talent management strategy and consequences of not doing the same....................3
Consequences of not making use of talent management in the organization..................................6
Talent management policy for Singapore’s operations including various Human resource
practices related to talent acquisition, retention, selection and others.............................................9
Preamble..........................................................................................................................................9
Scope................................................................................................................................................9
Purpose..........................................................................................................................................10
High levels of performance...........................................................................................................10
Level of work.................................................................................................................................12
Process of talent review.................................................................................................................12
Talent identification.......................................................................................................................12
Principles.......................................................................................................................................13
Responsibilities..............................................................................................................................14
Conclusion.....................................................................................................................................15
References......................................................................................................................................16

TALENT MANAGEMENT2

TALENT MANAGEMENT3
Introduction
Talent management refers to identifying the needs of the organization of human resource
and carrying out various activities for meeting those needs (Noe et al. 2017). It also includes
human resource planning in a strategic way and this helps in improving the value of the business
and also helps the organization in reaching its objectives. Workforce planning in a strategic
manner along with all the activities of retention, selection, recruitment, development and
rewarding the people all are a part of talent management. It should be aligned to the business
strategy such that it can function more properly. It is the ability of the organization to attract,
retain and produce talent employees for the organization. Talent management helps in improving
the customer satisfaction, improving the productivity of the people, reduction in the cost and
various others. It is also necessary to retain talented workforce and to develop the same in order
to have an advantage over the competitors (Collings, Scullion and Caligiuri 2018). The company
chosen for the purpose of this study is the Atlanta Inn of the United States. The Inn is engaged in
providing customized services to its customers and therefore aims at improving their experience
of the customers. The main aim of the paper is to- discuss about the importance of the talent
management strategy and prepare a talent management policy of the company. Therefore the
paper will discuss about the why the company should pay attention of talent management and the
consequences of not doing the same and also for preparing a talent management policy for the
company for its operations in the new branches. The company has further decided to establish
two more boutique hotel in Singapore.