Talent Management Strategy Research Paper Example | Topics and Well Written Essays - 1250 words

talentss Management Strategy - Research Paper ExampleThe paper also identifies how an placement must slew its talent management schema over time to respond to the dynamics of a business surroundings and also to the changing agreemental geomorphological systemal and strategic requirements. The organization under this papers considerateness is hypothetical small service driven company, with a natural of 200 employees out of which 20 atomic number 18 leaders. The company provides business consultancy services to organizations, and is hypothetically named as ABC consultants. Discussion Talent management is the bosom carry of Human Resource Planning and Execution (Henry, 1995). It is a process of designing strategy for identifying an organizations compassionate corking requirements in pursue of business goals and objectives in the long run. Since human capital is the most fickle resource that an organization possesses, therefore, an organization faces a scarcity of talent i n the market place which gives birth to talent competition and rivalry (Price, 2007). Talent management transcends beyond the borders of human resource function to a holistic integration of framework for organizational values and cultural fit, competency and capability fit, and structural system fit. In order to formulate a talent management strategy for ABC company in a manner that it serves as a competitive edge, it is crucial to first uncover the logic behind. Research has shown that for the past years the business organizations have witnessed and have embraced the fact that organizational talent has been the see driver of business value to the organization. There are two reasons for this, first is that the technological advancement has enabled and outfit businesses to acquire and replicate any and every organizational resource edge, systems, processes, marketing mix, technology etc but wholly the human resource has been the vital intangible asset that cannot be replicated o r acquired by the industry rivals. Secondly, human resource has been deemed as the ultimate deliverers of value to the customers and the only key sources for execution of strategies as planned and conceived by the business objectives. Thus especially for organizations which are operating globally, its crucial for them to sustain a consistent human resource body in diverse talent environment and manage it locally and internationally (Salaman, Storey, and Billsberry, 2005). Therefore, the power has eventually been shifted from organizations to employees and this has mandated organizations to link and integrate talent strategy with business processes, systems, technology and objectives. For designing an integrate TMS, the ABC firm must align its objectives and talent it involves matching the organizational competencies with individual capabilities. Determination of organizations current and future competencies along the side of organizational talent help identifies the need for unsp oilt talent or development of existing talent to alleviate potential. This creates a company-wide mindset for developing talent focused strategies that internalize social, market and organizational changes (Ford, Harding, and Stoyanova, 2010). Once a match has been established between talent and organizational objectives, the nest step in TM process is to develop a retention strategy for retaining the most promising experienced and knowledgeable talent leaders. At ABC firm 10% of the total work force is leading talent personnel which are prime targets of ABCs season management, development programs and retention strategy. But ABC must determine the leadership potential amongst the rest by assessing their engagement in organizational affairs, current performance,