The Competitive Importance Of Talent Management

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.

Whereas someone who is more individualistic who believes in individual effort rather than team work, will not be a cultural fit in this organization. So the employer has to be cautious while assessing the cultural fit of the candidate. Because high iteration rate due to lack of cultural fit will have significant impact on the cost of operation of an organization. A culturally different people have to go through the understanding of the company’s culture, policies and practices which are mostly unwritten. This possesses a challenge in front of the HR manager to create environment for these people, so that they can adapt quickly to the organization culture and minimize the cultural gap. To minimize this cultural gap employer has to provide various cross cultural training programs to its employees. All the trainings are aimed at changing the habit and customs of the employees to make them fit into an organization culture. It is also crucial to assess and understand the expatriates’ main concerns in order to help them to succeed. Employer has to carefully design the training programs to properly address these