Talent Management Essay

4824 words - 20 pages


I. Executive Summary…………………………………………………...............3

II. Introduction…………………………………………………………................4 III. What is the meaning and nature of talent or global talent management and succession planning in particular organizational contexts?.................................5 IV. What are the key challenges faced by organizations in their approach to talent management?.......................................................................................................7 V. What are the measures of success/critical success factors for talent management initiatives for both the management of the organization and ...view middle of the document...

These interpretations underline the importance of recognizing that it is not sufficient simply to attract individuals with high potential. Developing, managing and retaining those individuals as part of a planned strategy for talent is equally important, as well as adopting systems to measure the return on this investment.


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Although the origins of talent management can be traced back to 1865 (Simonton, 2011) and to the fields of arts/entertainment management, sports management literatures, and early education, interest in talent management in the business context came in the 1990s with the ground breaking study entitled “The War for Talent,” by McKinsey (Michaels, HandfieldJones, & Axelrod, 2001). This study, reflecting the high tech boom times of the late 1990s, suggested that demand for talented employees exceeded the available supply, thus leading to the problem of talent shortage. One of the most significant developments in people management over the past fifteen years has been the focus on effectively managing the individuals who are most important to the strategic success of companies, both domestic and international. This focus has taken the general labels of “talent management” or more popularly, “global talent management.” This report is about the broader and more encompassing label global talent management (GTM). Because of its importance, there have been many academic and HR practitioner papers and reports published on global talent management, but because of it is recent, there are many viewpoints as to “what it really is, what it covers and what things remain to be explored and developed in the years ahead”. The changing demographics of the labor market, enduring skills shortages and employee demands for work–life balance have created a so-called ‘war for talent’. In this ‘war’, successful organizations look to improve their strategies, policies and practices for the attraction, development, deployment and retention of talent vital for their business needs. They therefore have to aim to understand the capabilities needed in their organization and determine the actual or potential talents required of employees. The preliminary research work undertaken so far by the CIPD “Chartered Institute of Personnel & Development” and others has shown that there is a variety of approaches to talent management and no one blueprint that can be applied to all organizational contexts. Each organization has different resourcing requirements for its current and future ‘talent pipeline’, as well as different issues concerning how best to meet these requirements. It’s these considerations that should determine the talent strategy an organization develops. The research addresses answers for the following questions 1) What is the meaning and nature of talent or global...

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