Talent management strategy

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Introduction

Talent Management is a conscious, deliberate approach undertaken to attract, develop and retain people with the aptitude and abilities to meet current and future organisational needs. Talent management involves individual and organisational development in response to a changing and complex operating environment. It includes the creation and maintenance of a supportive, people oriented organisation culture. Talent management is increasingly becoming a part of organization’s corporate strategy to achieve sustainable completive advantage through human resources. Globalization driven by information technology is transforming the ways in which organization and people function. Information technology (IT) industry is playing a major role in the era of globalization. The goal of talent management process is to increase productivity. The four factors that make talent management approach unique include an integrated approach within HR, Integrating people processes into standard business processes,. Shifting responsibility to managers and Measuring success with productivity. The emerging new work places, sometimes called knowledge organizations and the dramatically changing environment call for new understanding and new people oriented solutions.

Statement of the problem

The present issues facing the IT industries is the increase in attrition rates. The attrition rate can increase the recruitment costs, the company wont be able to recoup the investments they have made in the employees. Some of the major issues relevant to this study include employee engagement, retaining the employees, skill shortage, diversity issues, work life balance, career growth, each of these issues represents challenge to today’s IT industries and must be given recognition and attention and be carefully managed. An important step is to identify the staff or employees (people and positions) that are critical to the organisation. They do not necessarily have to be senior staff members. Many organisations lost a lot of “organisational knowledge” in the downsizing exercises of a few years ago. The impact of the loss was not immediately apparent. However, it did not take long for many companies to realise their mistake when they did not have people with the knowledge and skills to either anticipate or solve problems that arose.

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