Talent Management as a Strategic Priority
Added on 2022-12-27
43 Pages11477 Words13 Views
Business DevelopmentLeadership ManagementProfessional DevelopmentDesign and CreativityData Science and Big Data
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Talent Management
Table of Contents
Table of Contents
Proposed Title: Talent management as a strategic priority..............................................................1
INTRODUCTION...........................................................................................................................1
Background of study...............................................................................................................1
Aim and objectives of research..............................................................................................1
Rationale for selection of topic...............................................................................................2
Research questions.................................................................................................................2
Scope and limitation...............................................................................................................3
Literature review..............................................................................................................................3
2.1. To review about the phenomena of talent management..................................................3
2.2. To analyse about main reasons which has led to increased importance of talent
management that makes it a strategic priority for all business firms.....................................5
2.3. To investigate about the effectiveness of talent management within a range of large
organisation in improving their productivity and expansion level.........................................6
2.4. To determine about the impact of talent management on the performance and productivity
level of local companies and SME’s......................................................................................7
2.5. To compare about the talent management strategies within a large and small organisation
in order to analyse its influence on opportunities...................................................................8
2.6. To recommend some more effective ways of talent management that can be adopted by a
budding entrepreneur to ensure better staff training and retention for improved performance
and success level.....................................................................................................................9
Research methodology...................................................................................................................10
Analysis and interpretation of data................................................................................................16
Interpretation of research findings........................................................................................19
Communication of research findings.............................................................................................32
Conclusion and recommendation...................................................................................................33
Conclusion............................................................................................................................33
Recommendation..................................................................................................................34
Reflection.......................................................................................................................................35
REFERENCES..............................................................................................................................37
INTRODUCTION...........................................................................................................................1
Background of study...............................................................................................................1
Aim and objectives of research..............................................................................................1
Rationale for selection of topic...............................................................................................2
Research questions.................................................................................................................2
Scope and limitation...............................................................................................................3
Literature review..............................................................................................................................3
2.1. To review about the phenomena of talent management..................................................3
2.2. To analyse about main reasons which has led to increased importance of talent
management that makes it a strategic priority for all business firms.....................................5
2.3. To investigate about the effectiveness of talent management within a range of large
organisation in improving their productivity and expansion level.........................................6
2.4. To determine about the impact of talent management on the performance and productivity
level of local companies and SME’s......................................................................................7
2.5. To compare about the talent management strategies within a large and small organisation
in order to analyse its influence on opportunities...................................................................8
2.6. To recommend some more effective ways of talent management that can be adopted by a
budding entrepreneur to ensure better staff training and retention for improved performance
and success level.....................................................................................................................9
Research methodology...................................................................................................................10
Analysis and interpretation of data................................................................................................16
Interpretation of research findings........................................................................................19
Communication of research findings.............................................................................................32
Conclusion and recommendation...................................................................................................33
Conclusion............................................................................................................................33
Recommendation..................................................................................................................34
Reflection.......................................................................................................................................35
REFERENCES..............................................................................................................................37
Proposed Title: Talent management as a strategic priority
INTRODUCTION
Background of study
Talent management is vital concept and important process for all business organisation
which ensures attraction and retention of talented employees. Talent management is a vital
business process which comprises of many activities like identifying skilled candidate, attracting
them, selecting them along with ensuring improved development of these selected employees
(Gomes and Berman, 2020). The dynamic nature of business environment and uncertainty in the
market has created a pressure on business organisation especially in SME and Budding
enterprise to focus on effectively managing talent. The other issues like enhancing cost of hiring,
issues related with staff retention and lack of motivation in employees are the other main reasons
that has enhanced the need and importance of talent management (Solook and Long, et. al.,
2020). Thus, the current investigation has been conducted and lead out to analyses about this
vital concept of talent management along with evaluating it as a strategic priority in current
business environment.
Aim and objectives of research
Research aim
The main aim of current investigation is, “To evaluate about the phenomena of talent
management along with analysing its impact and effectiveness within a range of organisation to
gain understanding about its priority”.
Research Objectives
To review about the phenomena of talent management.
To analyse about main reasons which has led to increased importance of talent
management that makes it a strategic priority for all business firms.
To investigate about the effectiveness of talent management within a range of large
organisation in improving their productivity and expansion level.
To determine about the impact of talent management on the performance and
productivity level of local companies and SME’s.
To compare about the talent management strategies within a large and small
organisation in order to analyse its influence on opportunities.
1
INTRODUCTION
Background of study
Talent management is vital concept and important process for all business organisation
which ensures attraction and retention of talented employees. Talent management is a vital
business process which comprises of many activities like identifying skilled candidate, attracting
them, selecting them along with ensuring improved development of these selected employees
(Gomes and Berman, 2020). The dynamic nature of business environment and uncertainty in the
market has created a pressure on business organisation especially in SME and Budding
enterprise to focus on effectively managing talent. The other issues like enhancing cost of hiring,
issues related with staff retention and lack of motivation in employees are the other main reasons
that has enhanced the need and importance of talent management (Solook and Long, et. al.,
2020). Thus, the current investigation has been conducted and lead out to analyses about this
vital concept of talent management along with evaluating it as a strategic priority in current
business environment.
Aim and objectives of research
Research aim
The main aim of current investigation is, “To evaluate about the phenomena of talent
management along with analysing its impact and effectiveness within a range of organisation to
gain understanding about its priority”.
Research Objectives
To review about the phenomena of talent management.
To analyse about main reasons which has led to increased importance of talent
management that makes it a strategic priority for all business firms.
To investigate about the effectiveness of talent management within a range of large
organisation in improving their productivity and expansion level.
To determine about the impact of talent management on the performance and
productivity level of local companies and SME’s.
To compare about the talent management strategies within a large and small
organisation in order to analyse its influence on opportunities.
1
To recommend some more effective ways of talent management that can be adopted by a
budding entrepreneur to ensure better staff training and retention for improved
performance and success level.
Rationale for selection of topic
The selection of current research topic and project is seemed rationale as it ensures
improved managerial skills as well as betterment in communication. During the course of current
investigation, enhanced opportunity is there to have interaction with larger number of
participants which would lead and bring improvement in knowledge along with facilitating better
development of key skills and competencies. Beside this, selection of current topic based on
talent management is also important and significant from the educational and academic
perspective of researcher and also meet the personal interest of investigator. Beside this, it has
been observed that talent management is important topic and significant concept in current
business environment to ensure better workplace planning and improved competencies in
employees. Therefore, analysing about the concept of talent management would ensures and
bring out improved development of understanding and knowledge in researcher. Therefore,
current research project ensures improved future growth and opportunity for investigator through
leading better knowledge and improved skills.
Research questions
What is meant by the phenomena of talent management?
What are the main reasons which has led to increased importance of managing talent that
makes talent management a strategic priority for all business firms?
How talent management plays an effective role within the range of large organisation in
improving their productivity and expansion level?
What impact is led by talent management on the performance and productivity level of
local companies and SME’s?
What possible comparison can be made about the talent management strategies within a
large and small organisation in order to analyse its influence on opportunities?
Which can be the some more effective ways of talent management that can be adopted by
a budding entrepreneur to ensure better staff training and retention for improved
performance and success level?
2
budding entrepreneur to ensure better staff training and retention for improved
performance and success level.
Rationale for selection of topic
The selection of current research topic and project is seemed rationale as it ensures
improved managerial skills as well as betterment in communication. During the course of current
investigation, enhanced opportunity is there to have interaction with larger number of
participants which would lead and bring improvement in knowledge along with facilitating better
development of key skills and competencies. Beside this, selection of current topic based on
talent management is also important and significant from the educational and academic
perspective of researcher and also meet the personal interest of investigator. Beside this, it has
been observed that talent management is important topic and significant concept in current
business environment to ensure better workplace planning and improved competencies in
employees. Therefore, analysing about the concept of talent management would ensures and
bring out improved development of understanding and knowledge in researcher. Therefore,
current research project ensures improved future growth and opportunity for investigator through
leading better knowledge and improved skills.
Research questions
What is meant by the phenomena of talent management?
What are the main reasons which has led to increased importance of managing talent that
makes talent management a strategic priority for all business firms?
How talent management plays an effective role within the range of large organisation in
improving their productivity and expansion level?
What impact is led by talent management on the performance and productivity level of
local companies and SME’s?
What possible comparison can be made about the talent management strategies within a
large and small organisation in order to analyse its influence on opportunities?
Which can be the some more effective ways of talent management that can be adopted by
a budding entrepreneur to ensure better staff training and retention for improved
performance and success level?
2
Scope and limitation
The current investigation is having a wide scope as it supports better analysis of phenomena
of talent management which is vital to successfully operate in a dynamic business environment.
Apart from this, information about the main reasons which has led to increased importance of
talent management that makes it a strategic priority for all business firms which is further
enhance the scope of current investigation. Along with this, the role of talent management in
leading enhanced performance and productivity for large as well as SME and budding enterprise
is as provided to get better implication about the significance of talent management. At last, valid
recommendations about the ways and strategies to ensure effective talent management is also
provided which has improved future scope of current project through facilitating and ensuring an
effective tool which ensure better staff training and retention for improved performance and
success level.
Many obstacles and risk are faced while conducting an investigation which comprises of
effective data collection along with maintaining its authenticity and reliability. Beside this, the
main limitation faced during current investigation which limits its efficiency level and scope
comprises of lack of sufficient time and resources. Beside this, lack of sufficient time collection
of data has been made from limited participants and lack of resources also effect efficiency of
current project.
Literature review
This forms a vital part of every research project which provide systematic analysis of
secondary data to set out a base for further investigation (Kyrychenko, 2020). The current
literature review is based on topic of talent management as strategic priority along with its set out
objective for which various online journals and articles are reviewed, an analysis and discussion
of which is provide as below:
2.1. To review about the phenomena of talent management.
As pet the view point of Sehatpour, M.H., Abedin, B. and Kazemi, A., 2021, the
phenomena of talent management is related with constant process of attracting, developing and
retaining talented and high –quality employees along with continuously motivating them to have
improved performance and efficiency level. Thus, the main purpose and objective of talent
management phenomena is to create a motivated and satisfied workforce which will stay in a
3
The current investigation is having a wide scope as it supports better analysis of phenomena
of talent management which is vital to successfully operate in a dynamic business environment.
Apart from this, information about the main reasons which has led to increased importance of
talent management that makes it a strategic priority for all business firms which is further
enhance the scope of current investigation. Along with this, the role of talent management in
leading enhanced performance and productivity for large as well as SME and budding enterprise
is as provided to get better implication about the significance of talent management. At last, valid
recommendations about the ways and strategies to ensure effective talent management is also
provided which has improved future scope of current project through facilitating and ensuring an
effective tool which ensure better staff training and retention for improved performance and
success level.
Many obstacles and risk are faced while conducting an investigation which comprises of
effective data collection along with maintaining its authenticity and reliability. Beside this, the
main limitation faced during current investigation which limits its efficiency level and scope
comprises of lack of sufficient time and resources. Beside this, lack of sufficient time collection
of data has been made from limited participants and lack of resources also effect efficiency of
current project.
Literature review
This forms a vital part of every research project which provide systematic analysis of
secondary data to set out a base for further investigation (Kyrychenko, 2020). The current
literature review is based on topic of talent management as strategic priority along with its set out
objective for which various online journals and articles are reviewed, an analysis and discussion
of which is provide as below:
2.1. To review about the phenomena of talent management.
As pet the view point of Sehatpour, M.H., Abedin, B. and Kazemi, A., 2021, the
phenomena of talent management is related with constant process of attracting, developing and
retaining talented and high –quality employees along with continuously motivating them to have
improved performance and efficiency level. Thus, the main purpose and objective of talent
management phenomena is to create a motivated and satisfied workforce which will stay in a
3
firm for long run and also ensures continuous improvement in their skills and competencies
level. They key elements of phenomena of talent management are discussed below which leads
to improvement in HR effectiveness to ensure better business operation and performance.
Recruitment- the first and foremost step of talent management phenomena is getting and
hiring a high quality candidate within the firm. Implication of improved recruitment software aid
to better talented acquisition and ensures effective research, communication and improved
engagement with potential candidate to meet the requirements and needs of the firm. Thus, talent
management phenomena support an extremely dynamic and innovative recruitment process to
revolutionized recruitment process for more effective talent acquisition within the firm (Naim,
2020).
Performance management- the another vital aspect of talent management phenomena
comprises of bringing out and creating best in people. The concept of talent management also
comprises of improving the performance and skills level of employees through creating an
ensuring a culture discussion and continuously analysing key areas for further improvements.
Talent management also copies of annual assessment based reviews in favour along with
coaching oriented model which comprise of proper involvement of all employees to ensure
improved performance management (Christina, Claire and Sarah, 2020).
Corporate learning- effective learning management system also forms out a vital part of
talent management phenomena which aim at developing employees to their full potential. Talent
management phenomena is supporting new ways of employee’s development through creating
an environment of learning beyond rigid course delivery which comprises of administer courses
and formal training programs for employees.
Compensation management- ensuring appropriate reward is also a vital element of talent
management phenomena which plays a vital role in meeting and satisfying the financial need of
employees. Appropriate rewards and compensation keeps an employee’s satisfied and motivated
towards their work thus, attract and retain talented employees for longer period of time along
with motivating them for improved performance through meeting their financial expectation
(Black, and van Esch, 2021).
4
level. They key elements of phenomena of talent management are discussed below which leads
to improvement in HR effectiveness to ensure better business operation and performance.
Recruitment- the first and foremost step of talent management phenomena is getting and
hiring a high quality candidate within the firm. Implication of improved recruitment software aid
to better talented acquisition and ensures effective research, communication and improved
engagement with potential candidate to meet the requirements and needs of the firm. Thus, talent
management phenomena support an extremely dynamic and innovative recruitment process to
revolutionized recruitment process for more effective talent acquisition within the firm (Naim,
2020).
Performance management- the another vital aspect of talent management phenomena
comprises of bringing out and creating best in people. The concept of talent management also
comprises of improving the performance and skills level of employees through creating an
ensuring a culture discussion and continuously analysing key areas for further improvements.
Talent management also copies of annual assessment based reviews in favour along with
coaching oriented model which comprise of proper involvement of all employees to ensure
improved performance management (Christina, Claire and Sarah, 2020).
Corporate learning- effective learning management system also forms out a vital part of
talent management phenomena which aim at developing employees to their full potential. Talent
management phenomena is supporting new ways of employee’s development through creating
an environment of learning beyond rigid course delivery which comprises of administer courses
and formal training programs for employees.
Compensation management- ensuring appropriate reward is also a vital element of talent
management phenomena which plays a vital role in meeting and satisfying the financial need of
employees. Appropriate rewards and compensation keeps an employee’s satisfied and motivated
towards their work thus, attract and retain talented employees for longer period of time along
with motivating them for improved performance through meeting their financial expectation
(Black, and van Esch, 2021).
4
2.2. To analyse about main reasons which has led to increased importance of talent management
that makes it a strategic priority for all business firms.
With respect to the information provided by Kriz, A., Moeller, M., Russo, E. and Liesch,
P., 2021 it has been observed that talent management is important and vital for all business
organisation as it keep current employees within a form for long run along with advancing their
skills and compensation to ensure higher position of business. An analysis can be made out that
significance and importance of talent management has increased now a days because of
enhancing complexities and issues in hiring of employees along with the fact that issue of high
employees turnover is also increasing in the business environment (Kennedy and Chan, 2020).
Therefore, implication of talent management has become strategic priority for all business
organisation which saves money through mitigate issue of employee turnover along with retain
key talents to have improved firm performance. The other reasons and factors which has led to
increased importance of talent management and made it a strategic priority for all business firms
are evaluated as below:
Attract top talent- One of the key benefit of having strategic talent management within the
firm comprises of the fact that it attracts and cater interest of larger number of talent candidates.
An analysis can be made out that talent management comprises of preparation of effective job
description for all position within the firm thus, ensures attracting top talent based on the job
roles and responsibilities (The importance of talent management and why companies should
invest in it, 2018). Apart from this, implication of talent management also leads to improved
brand image which enhance its ability to attract potential talents which contributes in
improvement in business results and performance.
Higher employee’s motivation- Another vital advantage of talent management comprises
of fact that it improves motivation level of employees which directs them towards improved
performance and higher efficiency level. An analysis can be made out that talent management
ensures regular compensation and development programmes for employees which boost their
motivation level and also meet their financial expectation which drives the towards better
performance and higher business success (Kimia and Allameh, 2020).
Retain top talent- The implication of talent management phenomena within a firm ensures
higher development and growth opportunity for employees which motivates them to remain in
the company for long run. Thus, talent management ensures mitigation of issues of high
5
that makes it a strategic priority for all business firms.
With respect to the information provided by Kriz, A., Moeller, M., Russo, E. and Liesch,
P., 2021 it has been observed that talent management is important and vital for all business
organisation as it keep current employees within a form for long run along with advancing their
skills and compensation to ensure higher position of business. An analysis can be made out that
significance and importance of talent management has increased now a days because of
enhancing complexities and issues in hiring of employees along with the fact that issue of high
employees turnover is also increasing in the business environment (Kennedy and Chan, 2020).
Therefore, implication of talent management has become strategic priority for all business
organisation which saves money through mitigate issue of employee turnover along with retain
key talents to have improved firm performance. The other reasons and factors which has led to
increased importance of talent management and made it a strategic priority for all business firms
are evaluated as below:
Attract top talent- One of the key benefit of having strategic talent management within the
firm comprises of the fact that it attracts and cater interest of larger number of talent candidates.
An analysis can be made out that talent management comprises of preparation of effective job
description for all position within the firm thus, ensures attracting top talent based on the job
roles and responsibilities (The importance of talent management and why companies should
invest in it, 2018). Apart from this, implication of talent management also leads to improved
brand image which enhance its ability to attract potential talents which contributes in
improvement in business results and performance.
Higher employee’s motivation- Another vital advantage of talent management comprises
of fact that it improves motivation level of employees which directs them towards improved
performance and higher efficiency level. An analysis can be made out that talent management
ensures regular compensation and development programmes for employees which boost their
motivation level and also meet their financial expectation which drives the towards better
performance and higher business success (Kimia and Allameh, 2020).
Retain top talent- The implication of talent management phenomena within a firm ensures
higher development and growth opportunity for employees which motivates them to remain in
the company for long run. Thus, talent management ensures mitigation of issues of high
5
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