Talent Management Strategies of Samsung

The assignment provides an in-depth analysis of Samsung's talent management strategies, including their flexible benefit scheme, employee recognition awards, and pension communication campaign. It also identifies areas for improvement in their 360-degree appraisal system and recommends training sessions for employees to enhance their skills.

1
Talent Management
Samsung is a South Korean Multinational enterprise which is one of the leading company with
numerous affiliated businesses. Its headquarter is in Samsung Town, Seoul. It is world's number
one consumer electronic brand. Samsung first entered the electronic industry on 1969. It started
to export home electronics in 1970's. Samsung tend to increase in global market in 1990's.
Samsung entered in mobile device market in 2000's and which quickly become world's best-
selling smartphones. The different products of Samsung are LCD and LED panels, mobile
devices, television, Digital cinema etc. The revenue of Samsung as of 2nd quarter report 2018 is
$14.87 trillion.
Talent management is the concept of managing the ability, proficiency and power of employees
within an organisation.
Samsung's focuses on innovation in organisation and its culture which are the key to the
evolution and shaping of its employee benefit strategy. Samsung's business has belief of first
mention human talent. As per this belief the company has been focusing on developing and
nurturing of its employees. Samsung has been implementing talent rewards which helps in
recruit as well as retain the employee’s efficiency in competitive industry.
Reward system and strategies undertaken by Samsung for managing rewards are
enumerated below:
 Samsung has started flexible benefit scheme in order to retain and
motivate personnel.
 It selects excellent employees who made superior achievements in various
areas of work for rewarding them.
 Samsung has introduced Award of Honour which plays a vital role in
spreading a spirit to attain success,
 Samsung continuously focusing on enhancing leaders by promoting
talented people through undertaking 360 degree appraisal system.
 Samsung offers a number of benefits programs that are designed on
regional basis for improving the quality of employee's lives.
 For the purpose of managing talent within the firm Samsung also offers
other benefits to the employees such as medical check-ups, medical
expenses, family events, educational expenses, recreational facilities,
health-care and selective benefits.
Samsung's pension communication campaign is aimed at improving employee’s
education around pensions, as well their involvement with the benefits. This in turn
motivates personnel to make their best efforts while performing business activities
and thereby ensures effective talent management within the firm. It started giving
Employees Benefit Awards to the Champions on each segment of its workforce
profile. It helps in encouraging developing employee’s innovative power and
performance.
Strength and weaknesses of 360 degree appraisal system which is
undertaken by Samsung for talent management is as follows:
Strengths Weaknesses
 Facilitates complete
assessment of the skills and
proficiency level
 Assists in creating better
teamwork
 Highly valid and objective
because feedback is
collected from varied
sources
 In such kind of system there
is a risk in relation to the
collection of honest opinion
from others.
 Includes high bureaucracy
due to the slowdown in
process
 High level of reliance on
technological aspect
Area for the improvement: Company should select few reliable personnel or
authorities whose reviews will be considered for the purpose of evaluation. This in
turn facilitates improvement in the existing talent management system of Samsung
and thereby helps in developing skilled workforce.
Recommendations
 For the purpose of talent management Samsung is advised to organize
training & development session for personnel.
 Along with this, it is recommended to business unit to make continuous
evaluation of performance in against to the benchmark. This in turn helps
in organizing appropriate training session and thereby ensures effectual
talent management within the firm.
Introduction of Samsung Limited
Talent Management system in Samsung company.
TALENT REWARDS