Why invest in Talent Management?

Talent management entails attracting, developing, recruiting, and tenaretaining qualified employees in their pivotal roles. Also, talent management helps in recognizing an individual who excels in certain activities and performances upon which, they are supported to go beyond the limit whereas their colleagues are encouraged to emulate what they are doing differently (Hiller et al., 2017). Nonetheless, organizations that have a human resource team that focuses on good talent management has an increased competitive advantage. Since talent management helps in recruiting the right person to perform a specific task, retaining such top talent, recruiting qualified individuals, understanding the workforce, is key in implementing certified development decisions.

Through proper ascertaining of a person’s skills, strengths, and decisions, there is a good chance of hiring the right person for the specified job. An organization can use various methods and techniques in selecting the right person (Cobb, 2017; Noe et al., 2006). Such as developing a stock of skill inventories for each position in the organization. Therefore, during interviews, the panel can easily map out the required skills for a particular job. The act is important for a given perspective of the individual and the organization since the right person is hired for the right position; thus, rendering increased employee productivity.

Despite the changing of economic status globally, the main concern of most organization is attrition. Therefore, retaining top talent is rendered significant to growth and leadership in the marketplace. Since failure to retaining top talents in an organization is likely to give the competitors an upper hand. Consequently, organizations are now focusing on recruiting, developing, retaining, and engaging quality people by charting strategies and programs for employee’s retention (MS Experts, 2017). The strategies and programs include taking care of employee’s growth in career and ensuring the performance of succession planning whereas rewarding those who are performing well.

An organization is given appraisals by the quality of the employees it possesses. Hiring has proven to be a challenge for many organizations. This is because some organizations conduct interviews that terrifying. They ask questions that are partly inquisitional or partly interrogative while others let the interviewees wait for long or ask preposterous questions that throw them off guard (Lawler, 2010; Cobb, 2017). A smart organization knows how to get the best employees; thus, they ensure they undertake interviews that seek talent that will best fit in their values and goals. It is not surprising that in the human resource processes talent management programs, training, and hiring assessment has become an important aspect.

Understanding one’s employees is a great motivation tool for them to deliver and give their best performance. Managers need to know what makes their team members happy and avoid ignoring the employees since they can feel unmotivated. Managers should also appreciate their employees and let them feel special. Failure to this makes employees feel demoralized and they work for the salary and view work as a burden. Accordingly, the management team should get the deep insights of employees by undertaking continuous employee assessment (Lewis & Heckman, 2006). The assessments helps in knowing employees’ developmental needs, weaknesses and strengths, abilities, career aspirations, likes and dislikes that helps to determine what motivates an employee; hence, yielding high work productivity.

An organization can easily invest on improving professional developmental decision if it understands it’s potential. Hence, talent management can make this easier for any organization since development involves investing towards training, learning, and development for an individual either for personal growth, performance management, or succession planning (Collings & Mellahi, 2009). In addition, if employees are positive in the organization talent management practices, there is a high chance for them to develop confidence in the future of the organization. Thus, leading to a workforce that is more committed and determined in engaging to practices that outperform their competitors is essential for any organization to achieve its objectives.

Finally, in the contemporary world, organizations and companies have to make an informed decision in the workplace due to the rapidly increasing global market. Thereby, it is critical to have the right professional in the right work position since organizational success and shareholder value is parallel to the attraction and retaining of the best quality talent. The key to profitability and productivity of organizations is not only having people, but having the right people in the right place. Thus, if organizations can make efforts in designing and balancing their work they have a high chance of making sound and more informed decisions that ensure top talents are positioned in vital roles that produce positive effects to organizational strategies and success.

 

 

References:

Cobb, A. (2017). Using Talent Management to Drive Competitive Advantage, by Adam Cobb. Hotelexecutive.com. Retrieved 12 February 2017, from http://hotelexecutive.com/business_review/2735/using-talent-management-to-drive-competitive-advantage

Collings, D. G., & Mellahi, K. (2009). Strategic talent management: A review and research agenda. Human resource management review, 19(4), 304-313.

Hiller, R. (2017). Gaining Competitive Advantage by Using Talent Management – Capterra Blog. Blog.capterra.com. Retrieved 12 February 2017, from http://blog.capterra.com/gaining-competitive-advantage-using-talent-management/

Khurshid, R. & Darzi, M. (2017). Managing talent for competitive advantage. International Journal of Applied Research, 2(2), 569-571.

Lawler III, E. E. (2010). Talent: Making people your competitive advantage. John Wiley & Sons.

Lewis, R. E., & Heckman, R. J. (2006). Talent management: A critical review. Human resource management review, 16(2), 139-154.

MSGExperts, (2017). Benefits of Talent Management. Managementstudyguide.com. Retrieved 12 February 2017, from http://www.managementstudyguide.com/benefits-of-talent-management.html

Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. M. (2006). Human resource management: Gaining a competitive advantage.

Schichtle, N. (2017). Retrieved 12 February 2017, from http://www.kellyocg.com/uploadedFiles/7-KellyOCG/2-Knowledge/Talent-management/The-impact-of-talent.pdf

 

 

 

About Roque Adrada

Roque Adrada is Director of Business Development and Ph.D Candidate in Talent Management at Deusto Business School. Before joining Deusto Business School, He worked as Associate Director in the Career Services Department at IE Business School. In addition, Roque worked in the Embassy of Spain in Sweden and in the United Nations Institute for Training and Research in both Switzerland and Peru. His educational background includes a Case Method Teaching (level I) from Harvard Business School, a Global Leadership Program from Harvard University, a Master in International Management from the IE Business School, a Juris Doctor from the University of Zaragoza and two exchange programs at ESSEC Business School and University Nova of Lisbon
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