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

Talent Management Strategy - Research Paper ExampleThe paper also identifies how an constitution must tailor its endowment funds trouble strategy over time to respond to the dynamics of a business environment and also to the changing organizational structural and strategic requirements. The organization under this papers consideration is hypothetical small service driven order, with a total of 200 employees out of which 20 ar leaders. The company provides business consultancy services to organizations, and is hypothetically named as ABC consultants. Discussion Talent management is the core function of Human Resource Planning and Execution (Henry, 1995). It is a process of designing strategy for identifying an organizations human capital requirements in pursue of business goals and objectives in the long run. Since human capital is the more or less fickle choice that an organization possesses, therefore, an organization faces a scarcity of talent in the market which gives birt h to talent competition and rivalry (Price, 2007). Talent management transcends beyond the borders of human resourcefulness function to a holistic integration of framework for organizational values and cultural fit, competency and capability fit, and structural dust fit. In order to formulate a talent management strategy for ABC Company in a manner that it serves as a war-ridden 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 key device driver of business value to the organization. There are two reasons for this, first is that the technological advancement has enabled and equipped businesses to acquire and replicate any and every organizational resource edge, systems, processes, marketing mix, technology etc but only the human resource has been the vital intangible asset that cannot be replicated or 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 powerfulness 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 integrated TMS, the ABC firm must align its objectives and talent it involves co-ordinated the organizational competencies with individual capabilities. Determination of organizations current and future competencies along the side of organizational talent help identifies the need for fresh talent or deve lopment 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 almost 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 succession management, development programs and retention strategy. But ABC must determine the leadership potential amongst the rest by assessing their espousal in organizational affairs, current performance,