What is Talent management?
Talent management is an evolving notion in corporations. The term is often used familiarly without any exact definition. Some people use talent management synonymously with human resource management but it represents something more than just a collection of existing HR processes.
Talent management has been used more narrowly either as a new term for an existing HR function or to focus on a select group of employees. The term talent management could include a long list of HR processes and components and cover only some, most, or all employees. Varied definitions are being used. Some definitions are very narrow and focus only on a single process or employee group—the “pivotal talent”, while other definitions are so broad and all inclusive that it is difficult to know what they intend to include.An
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With more than 68,000 representatives, it works together in 83 nations over 23 time zones. With such development rates, Cisco hopes to be a $50 billion organization in the following three to five years.
Three Pillars of Strategic Success of CISCO
Since Cisco was changing the guidelines of the diversion in the market place, it was needed to change the tenets of the game internally. A Three pillar strategy was actualized to accomplish the sought result.
Pillar One: Defining Collaborative Leadership with the C-LEAD Model
To viably change their initiative standard, the Cisco talent team leveraged collaborated technology to engage 200 pioneers around the globe in the making of the competency model.
Despite the fact that a percentage of the model was reliable with current contemplating fruitful business authority, three components one of a kind to the Cisco challenge developed: collaborate, accelerate, and disrupt which prompted their C-LEAD model, the first mainstay of strategic achievement.
Pillar Two: Executive and Leadership
Cisco Designs, manufactures, and sells Internet Protocol (IP) - based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use. The company provides products for transporting data, voice within buildings, across campuses and globally. The products are utilized at enterprise businesses, public institutions, telecommunications companies and other service providers, commercial businesses, and personal residences. Cisco conducts its business globally and manages its business geographically. Its business is divided into the following three geographic segments: The Americans; Europe, M...
Talent management is an organization’s ability to recruit, keep and train talent within their organization (Business Dictionary). Talent management usually gives roles to recruit and retain members (Business Dictionary). Talent management is known to be a business strategy. This is the case because this management is generally enforced to retain or attract top candidates (Heathfield). On the other hand, there is analysis called SWOT. According to Taylor, a SWOT analysis stands for strengths, weaknesses, opportunity, and threats. A SWOT analysis can be an analytical framework that can help organizations with their challenges (Taylor, 2016)
Human Resource Management is defined as the process of managing human talent to achieve an organization’s objectives (Bohlander & Snell, 2010). A more detailed definition is given by the Society for Human Resource Management which states that “human resource management is the function within an organization that focuses on recruiting, managing, and providing direction for the people who work in the organization” (Schmidt, 2011). The role that human resource management plays is the most vital in all business organizations. This importance is easily seen in running a health care facility. Human resource in health care is important in improving the overall patient health outcomes and the delivery of health care services.
Now a day business environment is becoming increasingly complex and global. To survive in this environment, an organization must have their own competitive advantage. Competitive advantage can be achieved with new products, entry into new markets, operational efficiency, proper workforce management, effective HR practices etc. Competitors can replicate easily almost everything except a high quality and highly managed workforce. Hence talent management can be one the key factors in the success of an organization, which is the reason why talent management has become one of the important areas in organizational HR practices. Talent management refers to the process of acquiring, training, developing and retaining human resources in an organization.
According to the article titled, Talent Management in HR, by Khatri, “Talent management is a process that emerged in the 1990s and continues to be adopted, as more companies come to realize that their employees’ talents and skills drive their business success. These companies develop plans and processes to track and manage their employee talent, including, attracting and recruiting qualified candidates with competitive backgrounds, managing and defining competitive salaries, training and development opportunities, performance management processes retention programs, promotion and transitioning. The article also reflects that CEOs are increasingly involved in talent management. Talent management could be viewed as the development of the firms human capital. There are many methods used in assessing talent a few are, personality assessments, Integrity tests, and cognitive ability
Challenges Human Resource Professionals face in meeting the needs of the contemporary Workforce “In the War for Talent”.
In 21st century prime challenge faced by the companies all over the globe is building and sustaining a strong talent pipeline. Talent management is concerned with human Resource describing various areas like manpower planning, succession planning. It is one of the core element of human capital management. Talent management can provide critical intellectual-energy ingredients by identify, developing and using
Human Resource Management (HRM) can be defined as “the set of programs, functions, and activities designed and performed in order to capitalize on both employee as well as organizational effectiveness. It is a management function that helps organization in recruiting, selecting, and training, developing and managing
According to McKinsey says “talent is the sum of person’s abilities, his or her intrinsic gifts, skills, knowledge, experience, intelligence, and judgment attitude character drive, his or her ability to learn and grow.” Talent management is managing the ability, competency and power of employees in the organisation. The main objective is to create and use the talent to achieve the organisational objectives. The concept of talent management is not restricted to recruiting the candidate at the right time but it also extends in exploring the hidden and usual qualities of the employees and developing and nurturing them to get the desired results. Selecting and retaining the best talent from the according to the culture of the organisation is a big concern for the organisation. Talent management requires both systems and an organizational commitment to attract, acquire, manage, and measure the talent needed to achieve a company’s business objectives. If business and talent management systems are not aligned with processes, companies not only fail to take advantage of their benefits, they also put their goals at risk. Talent management is different from organisation to organisations, some organisation it is about the management of the high worth individual or talented but for
Talent Management is usually a set of process and not always rely on computer system. It is also known as Human Capital Management. As defined by Dessler (2011), Talent Management is end to end process of planning, recruiting, developing, managing, compensating the employees throughout the organization and developong employees with high potential. According to him, employer view talent management as Career Management.
Human Resource Management (HRM) is fundamentally another name for personnel management. It is the process of making sure the employees are as creative as they can be. HRM is a way of grouping the range of activities associated with managing people that are variously categorised under employee relations, industrial/labour relations, personnel management and organisational behaviour. Many academic departments where research and teaching in all these areas take place have adopted the title department of human resources management. HRM is a coordinated approach to managing people that seeks to integrate the various personnel activates so that they are compatible with each other. Therefore the key areas of employee resourcing, employee development, employee reward and employee involvement are considered to be interrelated. Policy-making and procedures in one of these areas will have an impact on other areas, therefore human resources management is an approach that takes a holistic view and considers how various areas can be integrated.
Talent Management: It focuses on learning and development, recruitment support, and employee rewards. The Recruitment support includes activities from pre- screening and final-screening, offer management and interview management.
Talent management is a set of processes for strategic Human Resource planning which include everything from recruiting, selecting, managing, developing, assessing and retaining productive employees. It is a strategic processes which are aligned with the Organization’s business strategy. This helps Organization to maintain talented, superiors and expert workforce to achieve Key Results. Main goal of Talent Management is to harness and develop unique talent of employees to meet the organizational goals. It also reflects the ability of companies to source, select, develop, promote employees. Talent Management helps to discover various critical issues and change these issues to benefit the organization to improve upon
To sum up, talent management is a favorable proposal for HRM to utilize. As being proved that the organizations that applied talent management had positive impacts toward employees psychologically in a way they gain acceptance and eventually increase performance. In the perspective of financial outcome, it showed that there is a tendency to have higher success rate in organization. Firms should consider the use of talent management in order to have a sustainable development.
Partnership for 21st Century Skills: 21st Century Framework Definition. (2007). Retrieved October 6, 2011 from http://www.p21.org/documents/P21_Framework_Definitions.pdf