Requirements: 6 to 8 pages

Talent Management

Sherika Archer

HRM 532

2/12/2021

Dr. Chuks Agada

Talent management is getting people with the right talent into a company and helping them grow to their optimal capabilities while achieving a company’s goals. The process often covers several aspects of human resource management, and it has been recorded to be among the most effective in improving employees’ productivity. The process allows for a company to continually meet all the human resource needs that they have while at the same time increasing the knowledge and productivity of the employees that they get to work with. With proper talent management, I will have long-term success for the company under consideration.

For my company to have good talent management, the following six steps will continuously evolve the company’s employees to work within different instances. The first and most crucial step is to have a detailed job description that gives the role an employee will be playing in a comprehensive manner (Chung & D’Annunzio-Green, 2018). One must explain the job title and the job’s location, the general duties involved, the skills that an employee requires to have, and even the salary and benefits that an employee can expect. The development of a job description can help the company know who they are targeting, and it can also help the candidates make informed decisions.

The second consideration would be to get employees that best fit the organization. The for-profit organization that I am considering has a culture of being aggressive and pushing the limits. The company culture is an essential consideration that determines the firm’s success and employees’ ability to grow and develop while working at the company. I would establish a talent management that considers the people and organization’s ability to fit when implementing various goals. The ability to have employees who fit in with the company guarantees that they will enjoy their work. They are more likely to stay with the company for a long time than those who don’t have natural rhyme with its culture.

The development of a culture of coaching would also be at the center of my talent management strategy. To enable newer employees to get skills and improve their craft, it would work very hard to have a coaching culture between the older and newer ones. According to Nagi & Mohammed Ali (2020), being able to coach and impact skills on the new employees can help increase the workforce’s reliability as the skills necessary to run the firm’s operations will always be available among the crew. The development of young talent helps prepare them for the future and increases their resilience to face future challenges.

Part of my talent management strategy also involves the process of recognizing and rewarding those that perform well. The ability to reward employees that perform well goes a long way in motivating employees and allowing them to be even more productive in their work. The development of a reward system also makes it possible to manage the employees as they know what expectations are placed on them and their reward for each action. Having prizes tailor-made to individual likes also plays a role in determining the employees’ motivation when working. Giving employees gifts specific to their liking could go a long way in guaranteeing that they are as effective as possible.

Lastly, having the future of the organization would be central to the talent management process. As such, developing opportunities for continuous improvement would be central to developing the employees, I would be working with. I would seek to provide a career path that is attractive to the employees that I hire as part of my strategy to retain good employees for as long as possible. Enabling all the employees to improve their skills and grow professionally can allow the company’s long-term development. By having employees who are continuously improving their work, it is possible to improve the quality of the company’s output and the firm’s overall productivity. By implementing these strategies, I would expect my talent management to help the company increase profitability.

To effectively handle talent management, there are several components that I will involve in my process to make my talent management process as effective as possible. The first component would be the planning. It is a component that would call for the process of checking the firm for the various human capital requirement and predicting what the needs will be in the coming days (Meyers, van Woerkom, Paauwe & Dries, 2020). Setting up clear job descriptions would also be implemented to allow all the candidates to understand what will be expected of them before they get the jobs.

The second component is attracting the right people. To employ good people, a firm must understand how best to attract suitable candidates in the hiring process. The methods used to attract the right candidates, such as advertising and advertising channels, are essential to consider as they determine the people who view the advertisements. The places where the company seeks to recruit, such as universities or the general public, also influence the ability to attract the right talent to work.

Selection is also a key component that determines the company’s ability to get the right people successfully. The process often involves using several tests to check the applicants’ qualities to get the right fit for the job. The consideration of how the selection is complete is critical as it determines the people that one will see to be most suitable and those that will be left out (Borisova, Silayeva, Saburova, Belokhvostova & Sokolova, 2017). Determination is critical, especially when you are dealing with a vast number of applicants. You are interested in only a few that will be able to serve the company most efficiently.

The process of developing the employees is also a key pillar to the whole process. It is necessary to consider that employees often don’t have all the skills that a company wants them to have. For my firm to successfully manage talent, recruits’ development through training will be among the most important considerations. While we hire good people, the organization will develop the employee by training them and giving them additional skills to help them in their profession. Training and developing employees also give them even more confidence and commitment to accomplish various tasks that they may be offered.

After all the first four activities have been completed successfully, the critical task is to retain its employees. The retention process aims to help a firm keep the best talent that they have developed and maximize the services they get. The process of retaining talent includes both having increments in salaries and bonuses and promoting the employees regularly. Having recognition and rewards also helps maintain the best employees. It goes a long way in helping a firm keep its staff’s productivity at the highest level possible.

Lastly, it is vital to have transitioned in an organization. People don’t last in an organization forever, and they often come when an employee has to leave for one reason or the other. The process through which a company can move from one member of the staff to another without significant disruptions needs good management. The ability to train employees and have people ready to take up a left vacant position can help a firm avoid troubles and avoid losing the knowledge that could come from losing an employee. Helping the employees go through retirement or any other method could also help the company learn where they could improve while also assisting the former employees.

Having effective talent management goes a long way in making a company have a competitive advantage. The first area where the firm is likely to benefit has more productive employees than those of the competitors (Hughes, 2018). One can effectively achieve it by having acceptable motivational practices such as rewarding employees who perform best and recognizing those who do well. These practices make the employees self-motivated, which considerably increases their productivity when handling various company tasks.

One can see the second advantage in the area of leadership and innovation. Having transformational leadership is a critical aspect in the industry today, and good leaders can help a company gain a competitive advantage. The employees’ ability to see opportunities and innovate to benefit the company depends on how well the talent management is done. Good talent management can lead to more innovation in a company and increase the competitive advantage.

When a company grows considerably, several human resources activities need to be handled differently than when a company is small. Growth from 200 to 400 employees would mean that many activities need to be done, and it may be hard to do all of them internally. First, I would recommend that the company should outsource the process of recruitment in the talent management strategy. Human resource agencies are very good at recruiting the right people, and using such agencies would help guarantee the right people come into the company.

Second, I would recommend a change in the area of rewarding and recognizing employees. Having incentives such as bonuses and profit-sharing incentives with employees has in the past proven to be very effective in motivating them (Altememi & Almashhadain, 2020). I would recommend that the company introduce profit-sharing programs with its employees to motivate the employees and keep their productivity optimal. It is much harder to reward each employee in a large organization, and it makes sense to have a profit-sharing system for all employees to benefit from.

It is evident that with proper talent management, I will have long-term success for the company under consideration from the assessment done above. Talent management will involve strategies that consider recruitment, training, and rewarding employees to consider which things are practical and which others are not. The process allows for a company to continually meet all the human resource needs that they have while at the same time increasing the knowledge and productivity of the employees that they get to work with. The competitive advantage that the company gets is substantial and thus should continue to invest in talent management to maintain the edge. However, the company should be ready to adjust its strategy as it grows larger and should adopt more effective techniques when working with a much larger employee pool. The ability to train employees and have people ready to take up a left vacant position can help a firm avoid troubles and avoid losing the knowledge that could come from losing an employee.

References

Altememi, A. F., & Almashhadain, A. H. (2020). The most motivating work characteristics of employees and their impact on talent management strategy. Journal of Administration and Economics, (123).

Borisova, O. N., Silayeva, A. A., Saburova, L. N., Belokhvostova, N. V., & Sokolova, A. P. (2017). Talent management as an essential element in a corporate personnel development strategy. Academy of strategic management journal, 16, 31.

Chung, K. L., & D’Annunzio-Green, N. (2018). Talent management practices in small and medium-sized enterprises in the hospitality sector. Worldwide Hospitality and Tourism Themes.

Hughes, C. (2018). The role of HRD in using diversity intelligence to enhance leadership skill development and talent management strategy. Advances in Developing Human Resources, 20(3), 259-262.

Meyers, M. C., van Woerkom, M., Paauwe, J., & Dries, N. (2020). HR managers’ talent philosophies: prevalence and relationships with perceived talent management practices. The International Journal of Human Resource Management, 31(4), 562-588.

Nagi, D., & Mohammed Ali, Y. (2020). The Effect of Talent Management Practices on Employee Performance. International Journal of Management, 11(9).