Globalization and technological advancement have led to talent management is an integral aspect that determines the prosperity of most organizations. Moreover, corporate culture has a significant influence on organizational talent management strategies. Hence, identifying sustainable talent management policies in various firms is a vital role the managers have to endorse strategically. Nowadays, most firms have acknowledged the central role talent management has in guaranteeing a company retains its market share. Globalization has led to a stiff competition in the services and goods being offered to the customers. As a result, most of the businesses dominating in their respective fields usually have the most talented and skilled employees to counter the stiff competition from their business rivals. Moreover, most organizations prioritize the retention, recruitment, and talent development as fundamental resources that have a significant impact on the accomplishment of the projected organizational goals. Hence, efficient talent management strategies must be designed to ensure that every employee is assigned the most appropriate occupational tasks. For that reason, the adoption of sustainable talent management policies nurtures to a self-motivated and agile workforce that increases overall organizational productivity.
Talent Management Strategy
A majority of the human resource managers always emphasize retention, recruitment, and acquiring talented workers when developing suitable talent management strategies. However, to attain optimal success level, the executives need to incorporate appropriate talent management policies. Hence, leaders should motivate their employees by aligning the talent management strategies with the organizational objectives (Mwila & Turay, 2018). Consequently, managers should integrate a consistent leadership technique in the organizational processes to enable them to identify precise strategies that enhance the employees' skill development. Therefore, aligning personal objectives with the corporate strategy, nurturing highly skilled employees, and creating cordial ties are vital mechanisms that enhance the talent management process.
Most organizations have adopted talent management policies that prioritize the creation of highly-skilled in-house talent programs. Furthermore, strategically minded companies have endorsed talent management plans that aim at equipping workers with the required skills. As a result, companies have enforced strategic assessment programs on their staff and used the evaluations to enroll their workforce into the programs that equip them with skills. A majority of companies are faced with the challenge of evaluating candidates due to unplanned or planned leadership changes. Besides, a prolonged management void is a risky endeavor that most companies cannot neglect. Therefore, the generation of consistent and reliable internal talent pools is a critical aspect of effective talent management programs (Thompson & Eijkemans, 2018). Subsequently, an effective talent management program is exemplified by several skilled workers making it easier for the firm to promote their employees into administrative positions. Furthermore, a consistent talent development program improves the workers' skills that results in high performance in all the organizational levels. Therefore, through nurturing internal talent pools, the managers increase the experienced workers qualified to assume organizational leadership positions.
An excellent talent management policy should be aligned with the overall organizational needs and a company's strategic goals. Moreover, goal alignment is an influential talent management policy that clarifies the employees' individual professional roles. Hence, the talent management program illustrates the employees' ongoing value to their respective organizations. Consequently, an integrative goal alignment and talent management plan create a sense of ownership among the workforce enhancing the company's success rate (Stadler, 2011). Therefore, aligning the employees' objectives with the organizational goals improves their commitment to attaining exceptional job performance levels.
Organizational talent management strategy succeeds when the administration clearly communicates the anticipated business objectives to all the employees. Besides, an integrative talent management program empowers the departmental leaders to modify the selected approach. Therefore, the selected program focuses on aspects that will have a swift impact on organizational processes (Ogbazghi, 2017). Such talent management policies foster cordial ties among employees ensuring they are working collectively towards similar objectives. Furthermore, the goal-oriented talent programs strength the amicable relationship between the employers and employees creating a conducive workplace environment. As a result, clear communication promotes the talent management strategies by fostering cordial workplace ties that results into an adaptive and flexible workforce.
Talent Management Components
There are four primary talent management components that the human resource managers exploit to ensure that their workers are productive in executing their roles. As a result, the talent management components are exemplified by the program's ability to attract, develop, motivate, and retain a workforce. Consequently, the four talent management components determine the workers'' effectiveness and ineffectiveness. Firstly, an organization's ability to attract prospective candidates is crucial. However, the ability to attract skilled workers is quite essential to guarantee a firm' future prosperity in its endeavors (Thompson & Eijkemans, 2018). Nevertheless, most companies have adopted an unreliable recruitment system that focuses on the candidate's experience and skills. Even though the applicants' skills and experience are important factors to be considered during the recruitment process, it is equally important that the panel evaluates the candidate's job fitness. The job fit assessment is a time-costing process, but it enables the interviewing panel to establish the likelihood of the candidate collaborating with the employer and co-workers at their workplace. Hence, a talent management strategy that focuses on the candidates' job fitness state ensure that the organization attracts the most appropriate workers.
Secondly, the workers' motivation and development is linked to performance management policies. Therefore, the talent management program should concentrate on developing the staff's skills by providing them with numerous opportunities to improve their professional growth. According to Alruwaili (2018), 90% of the employees dissatisfied with the talent development policies in their organizations are likely to resign. As a result, the talent management programs should offer growth opportunities that cater for the employees' ambitions to advance their career ambitions in an organization. For that reason, the talent management program should provide regular workshops and mentorship courses to enhance the employees' skills development to promote their professional ambitions.
Thirdly, motivating the workforce is a fundamental aspect of ensuring they are committed and engaged in the organizational goals. Subsequently, the talent management strategies must ensure the workplace tasks motivate the employees to come to work daily and the staff gain skills from the roles. Additionally, a highly motivated workforce is associated with low retention rates and better performance rates. Workers who are motivated in performing their tasks are likely to deliver exception results by almost 20% compared to an unenthusiastic staff (Ogbazghi, 2017). Likewise, approximately 87% of the motivated labor force will not resign irrespective of the prevailing organizational conditions. Therefore, the workforce's motivation influences their decisions to resign or retain their jobs especially the experienced and skilled workers.
Finally, the talent management policy adopted by an organization should aim at reducing the expenses and boosting the workforce's retention rate. Managers need to adopt a proactive tactic to mitigate the employees' resignation rate by holding one-on-one organizational meetings. The periodic informal interviews enable managers to establish the employees' workplace and professional preferences (Stadler, 2011). Hence, through the one-on-one meetings, the leaders are able to make decisions on altering the talent management strategy to cater to the workers' needs and influence decision on renewing their contracts.
Competitive Organizational Advantage
Most of the firms seeking to have a competitive advantage over their rivals usually emphasize the need to improve their sustainable talent management programs. Besides, the talent management strategies rely on the employees' special talent, motivation, and commitment that determines whether the program fails or succeeds. Likewise, globalization has leveled the playing field through the endorsement of emerging technological trends. Consequently, retaining, developing, and acquiring a talented staff that works efficiently depicts the competitive advantage most corporation need to adopt (Ogbazghi, 2017). Additionally, the 21st century has been characterized by majority business offering similar products and services to their target client. Nonetheless, the talent management strategies endorsed by various companies distinguishes the competitive advantage certain products and services have in a particular market. Hence, a firm should optimize its monthly investment by reducing its recurring expenditure by incorporating a multi-pronged talent management strategy. As a result, the talent management program should focus on leadership development, recruitment, and bottom-up communications to reinforce the company's competitive advantage.
Talent Management Strategy and Its Future Impact
The human resource managers need to recommend efficient talent management policies to guarantee the company's future growth. A sustainable talent management program should offer custom-made training to the workers to enhance their career progression. Therefore, the talent management strategy needs to focus on bottom-up communications, leadership, and post-hire talent management policies to promote a constant organizational growth. For instance, employees with limited learning opportunities usually have little motivation to execute their organizational responsibilities. The managers should acknowledge that essence of post-hire training to their employees once they have been hired. Moreover, constant talent development is a critical aspect that needs to be optimized, nurtured, and identified to increase the company's returns. Organizations that match their institutional culture with their employees' inherent talent are likely to establish a resilient foundation for their future prosperity (Alruwaili, 2018). As a result, organizations that prioritize their workers' skills development promote their commitment and loyalty that enhances the firm's chances to thrive in its future business prospects. Similarly, integrating the staff's post-hire training with efficient leadership techniques promotes the development of a reliable bottom-up communication process. The bottom-up communication process and an effective leadership style ensure that the administration and workers have similar objectives that aim at attaining steady organizational growth. For that reason, the bottom-up communication, effective leadership style, and post-hire training are fundamental talent management components that enhance an organization's growth opportunity.
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