Figure 1: Word cloud
Talent
According to Khzam (2015), Talents are defined as “Unique Abilities”. 'Individual has own abilities to do things, practicing things that either others can’t do it or people who can do it are rare. Talented people are the individuals who have “Unique abilities”. Talented people can do things that few other people are able to do'. Michaels, Handfield-Jones and Axelrod (2001), emphasize that talent is the total capabilities of a person and also it consists of learning and improving capabilities. These capabilities would exhibit in terms of contributing to the organization. Capabilities are the inner gifts that are given directly to people and those are different from acquired capabilities and knowledge. Fundamentally, both natural and acquired abilities are combined to deliver the final output as talent.
Figure
2 shows, ten reasons why talent is critical to success. (Senthilkumar and Kumudha, 2011)
Figure
2: (source: Senthilkumar and Kumudha, 2011)
Talent Management
As Nirala & Chaudhary (2014), defined talent Management
is an organization's commitment to recruit, retain and develop the most
talented and superior employees available in the job market. Organizations are
committed to hire, manage, develop and retain a talented workforce in the process
of achieving business goals.
The extensive development of technology
started in the 21st century. Within the last few years, talent management has
grown implicitly, giving organizations a fruitful idea (Arif & Thakkar, 2015).
Competition between employers has shifted from the country level to the
regional and global levels (Ashton & Morton, 2005). Managing talent in a global organization is
more complex and demanding than it is in a national business. It is evidently a
concept close to a high-performance work system, with a more strategic approach
(Nirala & Chaudhary, 2014).
Talent management has become one of the most important strategic objectives in organizations (Senthilkumar and Kumudha, 2011). Many companies have realized that employee’s talents and skills are the keys to achieve their goals. Companies that are engaged in talent management are strategic and deliberate in how they attract, select, train, develop, retain, promote and move employees through the organization (Srivastava and Bhargava, n.d).
Importance of Talent Management
Talent management is the key to the success, efficiency, and
consistency of modern business organizations (Senthilkumar and Kumudha, 2011).
There are many reasons why a successful talent management system is important for
contemporary organizations.
A successful talent management system identifies critical
jobs in the organization and ensures top performers are recognized, rewarded
and engaged in. Sometimes, people who are doing critical jobs are not the best
performers and the best performers are not in critical jobs (Senthilkumar and
Kumudha, 2011).
Another importance
of a successful talent management system is to identify and develop high
potentials. Identifying top performers and their capacities and fostering their development provides higher chances for performance and retention (Senthilkumar
and Kumudha, 2011).
According to Senthilkumar and Kumudha (2011), a successful
talent management system plans for organizational transactions. To avoid
disruption in business performance, it is vital to manage departures of talent.
To avoid skill migration and minimize departure of talent, most airline employees’
pilots, engineers’ salaries are maintained at the international competitive
level.
A successful talent management system addresses the movement of
talent. If an employee’s skills can be better utilized in another function,
talent should be driven to those functions. It is necessary higher managers
fill the gap without affecting organizations goals quite quickly (Senthilkumar
and Kumudha, 2011). Many aviation academies recruit instructors on a full-time or
part-time basis among their own employees in parent organizations or the airlines,
who have been fulfilled the required qualifications and experience, with the
intention of delivering theoretical elements embedded with practical experience
during the training.
A successful talent management system creates talent pools
(Senthilkumar and Kumudha, 2011). Türk & Kavraz (2021) observed a strong relationship
between talent management with the talent pool which would be formed
with qualified candidates, selecting candidates suitable for the job in terms
of knowledge and skills. In many airlines, the engineering department has a talent
pool of engineering instructors allocated for different pieces of training. When other
airlines or the same organization requires specific training, these
instructors will be allocated.
Through successful talent management processes, organizations lead their businesses to a bright future. All employees in the company become masters in their own department and do their best to achieve the company goals, making a win-win situation for both organizations and for the employees (Rostam, 2019).
List of references:
- Aakanksha, N. and Navoditha, C (2014), 'Talent management', vol. 5, issue 5, University of Delhi, BBSSES, pp. 49-55.
- Arif, S. and Thakkar, S (2015), 'Trends in Talent Management, International Journal on Recent and Innovation Trends in Computing and Communication', vol.3, issue. 2, pp. 899-902.
- Ashton, C., and Morton, L. (2005), 'Managing talent for competitive advantage. Strategic HR Review', vol. 4, issue. 5, pp. 28–31.
- Khzam, MA (2015), 'Talent Management Research and overview'.
- Michaels, E. Handfield-Jones, H. and Axelrod, B (2001), 'The War for Talent', Boston, Mass.: Harvard Business School Press.
- Rostam, F.A. (2019), 'Managing talent in human resource management', weblog, viewed 27 July 2021 < (PDF) MANAGING TALENT IN HUMAN RESOURCE MANAGEMENT | Fatemeh Azizi Rostam - Academia.edu >
- Senthilkumar. and Kumudha. (2011), 'Talent Management: The Key to Organizational Success', Industrial Engineering Letters, vol. 1, no. 2, pp.26-40.
- Srivastava, R. and Bhargava, S (n.d). 'Competency mapping – a strategic approach in talent management', Bharati IMSR Journal.
- Türk, A. and Kavraz, ZM (2021), ‘The Role of Talent Management in Human Resources Management: A Qualitative Research in Aviation Industry’, American International Journal of Business Management (AIJBM), vol. 4, issue. 02, pp 12-20.
Hi Lasanthi, Talent management and its importance is well defined within the article. Further, this can prove with this famous scholarly statement. Always organisations looking their success along with the higher goals. Talent management is one of the critical factors to fulfilling gaps behind employees and developing their skills, which the administration always requests.(Armstrong and Taylor, 2014).
ReplyDeleteYes it is important to function proper talent management model in an organization, as per the Nawaz and Prathibha(2013) talent management is important for business strategy and daily process implementation and they have defined talent management as a process of attraction, selection, development ,engagement and retention of employees in an organization. Once considering new normal globalization, competition, innovation and creativity is based on knowledge economy which is drive through talent development of an organization(Kurgat, 2016).
ReplyDeleteIndeed as we are witnessing, there will be a drastic change to the talent management model/structure in the coming years especially along with the development in the IT sector. With the development of social media apps like Linkedin, Facebook research and acquisition of talent will be at HR's fingertips (Ariss et al. 2014).
DeleteTalent management is essential, I agreed with it. Further, the organizations undertake the employees controlling by giving them career opportunities, and their ultimate strategy is employee recruitment, development, and retaining. Management talent is identifying the skill employee needs and developing a strategy to meet that need. Enhancing employee performance will drive organizational success (Anwar et al., 2014).
ReplyDeleteThe first dimension is whether regular talent reviews are carried out to create talent pools (Boudreau and Ramstad, 2005; Stahl et al., 2007; Mäkelä et al., 2010). Reviews may aim either to identify those that rank at the top (Becker et al., 2009) or to identify each employee’s strengths (Downs and Swailes, 2013). When talent reviews are not carried out, organizations may rely on succession planning or informal identification processes (Lewis and Heckman, 2006). The second dimension concerns the degree of reliance on formal procedures (see recruitment). Third, identification may be based on input or output (Meyers et al., 2013; Mäkelä et al., 2010; Silzer and Church, 2009).
ReplyDeleteYes as you explained, in any company or an organization there are potential employees who are capable of holding leadership in the future, developing them and retaining is vital for the organization long-term success and sustainable advantage (Ready and Conger 2007).
DeleteAgreed and according to Peter C. (2013) talent management is simply a matter of anticipating the need for human capital and then setting out a plan to meet it.
ReplyDeleteAgreed that talent management is crucial for modern organizations. As clearly explained by Baqutayan (2014) all employees are talented as they posses the capabilities that are important to their organizations. When considered the individual differences, employees might have the skills in specific area that can be identified as being talent in that particular part. Therefore, the author states talented indeed can be found anytime and anywhere throughout the whole organization and that it is important to manage their abilities, or otherwise organization will be losing the performance and competitive advantages of those talented employees.
ReplyDeleteAgreed. According to Muhammad and Shayo (2013), HR adopt different techniques to retain their best people. One such idea was to best use of worker’s abilities to keep them for a long time and then to develop a block of high performance (Digeorgio, 2004)
ReplyDeleteEmployee competency, according to Armstrong (2002) Employee competencies are a set of specific, well-defined talents and behaviors that are used to define a company's job performance requirements or overall culture. Employee competences can be used in a variety of situations.
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ReplyDeleteSpecifically, a potential competitive advantage can only be realised if suitable talent management practises are adopted.
Many businesses have beefed up their people management methods after realising that losing their most valuable personnel could limit their future growth. As a result, the most successful and recognised businesses provide excellent working conditions, environments, and remuneration packages. Therefore, the most successful and admired companies offer great working conditions, climate and compensation packages. Even though employee retention is costly, talent departure and shortage puts companies in an even worse situation. Furthermore, talent retention issue becomes even more
important when economy faces a temporary decline. After the theoretical review the paper presents a case study of Alstom, the global leader in power generation and rail infrastructure, and its talent management strategy (Mahfoozi, Salajegheh, Ghorbani & Sheikhi (2018).
In the twenty-first century, organizations use their human capital to get a competitive advantage against competitors as they believe the success of a business highly depends upon talented employees. In here, organizations are filtering out the talented personals among all the employees to analyze the need of them and to develop strategies to meet that need. Further stated that attraction, recruitment and engagement play an important role while managing the talents. However, an organization should have effective talent management in all stages of the organization (Anwar, 2014).
ReplyDeleteAgreed. Further, S. Borkowska defines talent as a "creative, enterprising person with high development potential, being the lever of growth in shareholder value" (Borkowska, 2005). The term "talent" can also be defined by enumerating its characteristics. These include (Pocztowski, 2008) strategic thinking, leadership traits, an entrepreneurial attitude, a performance-oriented approach, the ability to persuade, teamwork, emotional intelligence, flexibility, a high tolerance to change, and highly developed specialist technical skills.
ReplyDeleteTotally agree with you Lasanthi, talent management, introduces specific competitive methodologies that are devised to help a company recruit the best suitable talented candidates, and suitable talent management helps the company improve its workers' skill set and exploit it in the future (Betchoo, 2017).
ReplyDeleteYes, (Bersin, 2020) argued that the process of the internal talent marketplace is about much more than career pathing, internal recruiting, or employee learning and development and it's a transformative innovation that will be prominent to managing talent in the future.
ReplyDeleteAgreed with the argument. Understanding of talent management concentrates attention on differentiation and departing from classical – human resource management approach. That means that organization willing to actively engage talents in organizational life have to figure out ways of capitalizing on their competencies and prepare structures, strategies and climate to encourage their employees on pivotal positions to contribute to organizational success (Ingram, T. and Glod, W., 2016).
ReplyDeleteAccording to saban (2012), “Talent management is the systematic attraction, identification, development, engagement, retention and deployment of those individuals who are of particular value to an organization, either in view of their ‘high potential’ for the future or because they are fulfilling business/operation-critical roles”.
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