Talent Management Differentiation: Strategy and Practice

This essay examines the strategic importance of differentiation in talent management practices for organizational success. It argues that adopting a differentiated approach to talent management can provide a competitive advantage by aligning human resources with business strategy, improving employee performance, and fostering innovation. The essay highlights the benefits of talent differentiation, including enhanced employee motivation, goal alignment, and the ability to capitalize on new opportunities. It provides real-world examples of companies like Woolworths and National Australia Bank that have successfully implemented differentiated talent management strategies, emphasizing the importance of merit-based recruitment, tailored training programs, and performance-based compensation. The essay also discusses the significance of succession planning, integrated talent management, and agile practices to cultivate a skilled and engaged workforce. It concludes that differentiating talent management is crucial for organizations seeking to adapt to industry changes, drive employee commitment, and achieve long-term business goals. Desklib offers students access to this and other solved assignments.

Running head: DIFFERENTIATION IN TALENT MANAGEMENT PRACTICE
Differentiation in Talent Management Practice
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1DIFFERENTIATION IN TALENT MANAGEMENT PRACTICE
Introduction
Talent management refers to the organized and the strategic process that aids in
getting right talent on board that aids in the growth of the optimal capabilities of the
individuals in an organization. It helps in the development of the skills of the workers that
helps a business in achieving the long-term goals (Boudreau & Ramstad, 2007, p. 14). The
managers in a company should differentiate the talent that can help in driving the
performance of employees in a company. The organization have different kinds of the
professional roles and there should be different kinds of the practices of the talent
management that can help in strengthening the position of an organization. The
differentiation approach segments the workforce on the basis of their skills along with the
knowledge that can increase the profitability of a business. There are various kinds of
management along with the personnel positions in a company and the value of the positions
have been found to be different from each other. The value of the operations and the office
manager are different from the people in the lower hierarchical level in the company that can
obstruct the growth of a company. This essay states that differentiation talent management
strategy can act as a source of the competitive advantage for a company and it can take a
company ahead in the long run. This essay discusses that differentiation pertaining to talent
management strategy can improve the performance of the employees in a company. This
essay elucidates on the fact that it can provide motivation to employees that can increase the
efficiency of the workers within a company.
Thesis Statement
This essay states that the organisations should adopt the differentiation practice in
relation to the talent management that can work to the benefit of an organization.
Discussion

2DIFFERENTIATION IN TALENT MANAGEMENT PRACTICE
The organizations can develop the competitive advantage with the help of the process
of the differentiation in relation to the talent management that can empower an organization.
It can have a great impact on the strategy of an organization and it can provide the link in
between the talent management and the strategy in a company. The creation of the
differentiating strategic capabilities can signify the relationship existing in between the
business strategy and the human resources of a company (Lepak & Snell, 2002, p. 518). The
human resources in a company can act as the main source of the strategic advantage and it
can increase the prospects of a company. The resources can add to the value of a company
and it can take a company ahead in the future. The company can earn the higher profits with
the help of the competitive advantage that can be utilised by them in bringing about the
innovation of the products along with the services (Collings, Scullion & Caligiuri, 2018, p.
67). It can make them valuable in the eyes of the consumers that can help them in getting an
advantage over the rivals. Woolworths group have the retail interest in Australia along with
the New Zealand and it have adopted the differentiation strategy that have enabled the
company in rising in position in the present age (Woolworthsgroup.com.au., 2020). The
company recruits the employees on the basis of their merit that aids the company in recruiting
the employees of the high talent in the company. The employees are provided the training on
the basis of their professional profile that can increase the skill base of the employees and
contributes to profitability of organization. The compensation is provided to the employees
based on the performance of workers that have enhanced performance outcome of members
of staff (McDonnell et al., 2016, p. 1299). Woolworths have been able to gain the strong
financial position and the consecutive profits in last five years with the help of its talent
management strategy. It have the accumulated profit reserves which helps in financing the
future capital expenditures of the company.

3DIFFERENTIATION IN TALENT MANAGEMENT PRACTICE
The company should align the talent management with that of the company strategy
that can bring about the continuous growth of employees of company. The business leaders
who implement the differentiation process of the talent management can capitalize on the
new opportunities. It enables the employees in becoming proactive that can aid in addressing
the industry changes in the prompt manner. It can aid in the development of the workers in
the key areas that can increasing the effectiveness of performance of employees. It can bring
about the goal alignment of the workers that can clarify the job roles in relation to each
individual employees in a company (Krishnan & Scullion, 2017, p. 434). It can be
instrumental in the creation of the greater employee ownership that can make the workers
committed to a company. It can aid in achieving the higher level of the job performance of
the workers. National Australia Bank refers to largest financial institution of Australia in
relation to the market capitalisation along with the earnings (Nab.com.au., 2020). The
company have taken recourse to the talent management practice of the differentiation that
have enabled the company in getting an advantage over the other companies in Australia. The
company have the performance along with the remuneration framework that have driven the
exceptional customer service outcome for the company. It have recognised the unique skills
of the employees that have aided in the development of the company. The values of the
company are reflected in the actions of the company that have served the demands of the
customers. The workers are supported with the help of the development conversations on the
basis of the position of the employee in the company (Cascio & Boudreau, 2016, p. 104). The
company have developed the workforce who have right set of the competencies that have
acted like a boon for the company. The company have the successful talent management
program that have resulted in the higher performance of employees in National Australia
Bank. The company have been able to earn the statutory net profit amounting to $ 4798 m in
the year 2019 that have taken care of the positioning of the company.

4DIFFERENTIATION IN TALENT MANAGEMENT PRACTICE
The companies should provide the promotional along with the career development
opportunities to the workers that can be instrumental in providing the motivation to the
workers. It can aid in charting the career paths of the employees that can take an organization
ahead in the future. The talent management practice should be differentiated on the basis of
the merit of the workers that can be a positive force for a company. The process of the
succession planning can be implemented in a company that can enable the employees in
proving their capability in a company (McDonnell et al., 2017, p. 89). The learning
executives play the crucial roles in the area of the integrated talent management components.
The senior leaders in a company should value the aspect of the integrated talent management
that can be a good factor for an organization. The rapid innovation have become the strategic
imperatives for the companies in the present age and the right kind of the talent management
practice can instill the creative skills among the employees of a company (Taylor, 2018, p.
90). The companies have enumerated the agile practices that can help the companies in the
management of projects. The creation of the distinct appraisal process should be tailored to
the needs of the various groups in a company. The metrics should be able to assess the
competencies of the employees that can provide the motivation to the workers (Thunnissen,
2016, p. 60). Coca Cola Amatil refers to the non-alcoholic beverage company that produces
portfolio of the products like the carbonated soft drinks, fruit juices along with the flavoured
milk. The organization retains the key workers that have helped in enhancing the engagement
along with the loyalty of the employees. The organization have identified the workers who
can execute the business strategy that have aided in meeting expectations of the workers. The
organization provides the development programmes for the critical workers who influence
the value chain of the company in a significant manner (Gallardo Gallardo & Thunnissen,
2016, p. 35). The performance of the company have remained strong and the company have
been able to achieve the strong EBIT growth in the year 2018. The company had been able to

5DIFFERENTIATION IN TALENT MANAGEMENT PRACTICE
earn the trading revenue from the operations of the company and it was able to amass $ 388.3
million in 2018 that have made the company popular in the world.
Conclusion
Talent management is indicative of strategic process that can aid in getting the right
talent that can create the way for the development of an organization. The process of
differentiation can aid company in the development of competitive advantage which can lead
to empowerment of an organization. It can have a positive influence on the business strategy
that can ensure the success of an organization. Business leaders should take recourse to
differentiation process which can capitalize on new opportunities. It can make the workers in
working in a proactive manner which can address industry changes taking place in the present
age. It can develop workers in main areas which can be instrumental in augmenting
effectiveness of the performance of the workers. Career development opportunities in the
event of being provided to the workers can increase motivation of the employees. It can guide
the employees in their career path that can bring the success for a company.

6DIFFERENTIATION IN TALENT MANAGEMENT PRACTICE
References
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Krishnan, T. N., & Scullion, H. (2017). Talent management and dynamic view of talent in
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7DIFFERENTIATION IN TALENT MANAGEMENT PRACTICE
Nab.com.au. (2020). Personal. Retrieved 18 March 2020, from https://www.nab.com.au/
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