HR TECHNIQUES IN TALENT MANAGEMENT

Focus of this blog is to emphasize the significance of talent management to gain more competitive advantage and how HR practices affect organizational performance and talent management. Human capital is the knowledge, skills, and personal attributes that workforce contributes towards achieving organizational goals.

With the increase in globalization during the pre-covid19 situation, organizations have to operate in a highly competitive environment to archive their goals. According to Wheelock (2010), in the pre-pandemic world, companies were strongly focused on talent management and retention since intellectual capital has always been an asset for any business organization. Which is the reason for many organizations to concentrate their attention on this asset. In the view of Brundage and Koziel (2010), it was highlighted that the talent management strategy must be a continuous process and part of the organizational culture. Appreciation and recognition activities such as compensation, rewards, and leadership training will attract the workforce to the process.

As described in the above paragraph having well trained, talented, and experienced workforce would be advantageous for any organization but the difficult part is to control their turnover in the highly competitive industry environment. As Hussein (2009) describes HR professionals were automatically driven to change their simple administration functions to an object-oriented approach in order to retain their key employees. When analyzing the reasons for employee turnover, Maertz and Campion (1998) defined dissatisfaction in the job role and other job alternatives were predominant reasons but later on Mitchell et al. (2001) indicated several other contributing factors such as social or personal problems that cannot be overcome in the current job context.  Whatever the reason, organizational effort should mitigate this process. As Moncarz (2004) said, employee turnover causes loss of key skills, which intern exerts pressure on the growth of the organization and also it can cause disruptions to operations. Another important point was highlighted by Poe (2003), according him employee turnover can be costly since that leads to new recruitments and selection process which will consume a lot of time, money, and people engagement. It’s clear that employee retention and talent management are very vital for organizational existence in the present competitive era, as Gberevbie (2010) highlighted there is a strong relationship between organizational performance and employee turnover so that talent management is very much important in meeting current and future business objectives.

HR has a crucial role in talent management since it is the core component in any organization which is responsible for managing human capital. The techniques and processors related to talent management may different from section to section within the organization and those techniques/methods can include financial and non-financial awards/rewards, job engagement techniques such as knowledge and skill development training/workshops which will be beneficial for employee’s carrier progression. Overall, it’s a motivational process through different applications which fulfill the self-actualization needs of individuals.

According to Lewis and Heckman (2006), talent management is an important process that consists of several HR practices like recruitment, selection, development and carrier management, employer branding, motivation, and training and development. As Joo and Park (2009), described the HR department can perform talent management via goal orientation and implementation of carrier management programs. Bowden et al. (2006) mentioned how motivation influences talent management and retention via Herzberg and Maslow’s theories of motivation. That theory indeed discusses the internal and external factors where the self-actualization needs are prioritized. So, once those requirements are satisfied, that leads to job satisfaction and will not be concerned about leaving the organization. HR professionals can link this requirement with the management by continuous engagement in personal development and employees well -being. 

Recent HR talent management researchers have identified succession planning and employer branding also as impactful components. In the view of Cultterbuck (2005) succession planning is continuously monitoring the workforce and evaluate their performance for tomorrow's requirements and apply appropriate corrective measures. This kind of regular reviewing process helps for long-term talent retention and to identify future leaders. Employee branding is to discover potential employees as per Branham (2001). According to Thorne (2004), employer branding works as an internal marketing process that gives psychological and financial benefits to potential employees. Moreover, as Davies
(2007) mentioned employee branding not just identify potential employees, it also helps to retain employees and improves their job satisfaction which will eventually leads to organization-wide performance enhancement.

 

Based on the above facts and analysis, it’s evident that HR talent management strategies have a remarkable impact on perceived outcomes in many ways. Especially in the efficiency and productivity of the organization. Employee readiness to serve will be uplifted with loan term sustainability, thus the organizational goals will be attained mechanically.

List of references: 

• Bowden, J, Mactaggart, D, and Martin, A (2006), ‘The Barriers to the recruitment and retention of supervisors/ managers in Scottish tourism industry’. Int. J. Contemp. Hospital. Manage. vol.18, no.5, pp. 380-97.

• Branham, L (2001), ‘Keeping the people who keep you in business 24 ways to hang on to your most valuable talent’. New York: American Management Association.

• Brundage, H, and Koziel M (2010), Retaining Top Talent. J. Account. 209(5).

• Clutterbuck, D (2005), ‘Succession planning: A developmental approach’. Dev. Learn. Organization. vol. 19, no. 5, pp 11-13.

• Davies, G (2007), ‘Employer Branding and its influence on managers’, Eur. J. Market, vol. 42, no. 6, pp 667-81.

• Gberevbie, E, D (2010), ‘Organizational retention strategies and employee performance of Zenith Bank in Nigeria’, Afr. J. Econ. Manage. Stud. vol. 1, no. 1, pp 61-74.

• Hussein, M (2009), ‘Hiring and Firing with ethics’, Human Resource Management Digest, vol. 17, no. 4, pp 37-40.

• Joo, KB, and Park, S (2010), ‘Career satisfaction, organizational Commitment, and turnover’,  intention, Leadersh. Dev. J. vol. 31, no. 6, pp 482-500.

• Kay, C, and Mocarz, E (2004), ‘Knowledge, Skills and Abilities for lodging Management Success’, Cornell Q. vol. 45, no. 3, pp 285-97.

• Lewis, RE, and Heckman, RJ (2006), ‘Talent management: a critical review’, Human Resource Management, Rev. 16, pp 139-54.

• Maertz, CP, and Campion, MA (1998), ‘25 years of voluntary turnover research: a review and critique’ In: Cooper CL and Robertson IT (Eds), International Review of Industrial and Organizational Psychology, London: John Wiley and Sons, Ltd., pp. 49-86.

• Mitchell, TR, Holtom, BC, Lee, TW, Sablynski, CJ, and Erez, M (2001), ‘Why people stay: using job embeddedness to predict Voluntary turnover’ Acad. Manage. J. vol. 44, no. 6, pp 1102-1121.

•       Poe, AC (2003), ‘Keeping hotel workers: it takes more than money to retain lower-paid employees’, HR Magazine, February.

• Thorne, K (2004), ‘One-stop guide: Employer branding’, Sutton: Personnel Today.

• Wheelock, D (2010), ‘Cultivating top Talent at Mercer, Training and Development issue 44 worldwide?’, Int. J. Contemporary Hospital Management, vol. 11, pp 138-9.