Wednesday, June 10, 2020

Global Talent And Management Sciences Research - 275 Words

Global Talent And Management Sciences Research (Research Paper Sample) Content: GLOBAL TALENT AND MANAGEMENTStudent NameInstitutional AffiliationIntroductionCurrently one of the biggest challenges facing the global business environment is the lack of the ability to establish and sustain a robust talent strategy. Businesses not only have to respond to the increasing demographics but also build new capabilities and revitalize the companies by globalizing their operations, applying new technologies and contending with competitors. The companies must implement new strategies that will attract highly talented employees who will add on to the competitive advantages of the business (Dess, 2012). The paper gives a discussion on talent management and the approaches that every business should employ to develop and manage talent in the business world. The paper also outlines two cultural perspectives on talent and how to manage talent effectively.Understanding talent and Talent ManagementAccording to Nafei (2015), a talent is a unique aptitude or ability th at an individual has and is capable of improvement in the business. Talent management, on the other hand, refers to the companys commitment to employing, sustain and develop the most excellent and talented employees that are available in the job markets. Talent management entails the capacity of an organization to understand and anticipate sufficient human capital and the strategies to satisfy those human capital needs. Talent management is a useful tool that can allow managers and human resource professionals improve their approaches to employing and managing talent. Managing talents in the work environment result in development, successive planning, and high-quality operations which boost the productivity of the business.Successful companies directly link to the level of employee engagement and the talent management. The commitment towards a successful talent management strategy is majorly enhanced by an active and free employee engagement. Employee engagement can be explained as the process through which an employee invests his or her energy skills time resources and creativity towards achieving the companys set goals (Nafei, 2015). The organizational cultures, on the other hand, are the behaviors and values that contribute to a desirable psychological and social environment of the business. The firm culture affects the employee's engagement and offers three major critical factors that influence engagement, talent recruitment, retention, and developmentThe link between business strategy and talent strategyTalent management is a vital business strategy that an organization employs to ensure that the most superior and talented employees are retained in the business, to add to the competitive advantages of the firm. Talent management gives managers a vital role and responsibility in the recruitment, retention and developing of superior workers. Talent management is a business strategy that should be integrated into all the programs that relates to employee pro cesses in the organization. An efficient talent, the management system is characterized by the ability of the business to share information relating the most talented workers and their potential career directions to all departments so that the organization identifies the available talents which are utilized if opportunities arise (Elegbe, 2010). Large organization uses human resource information systems to track the career capabilities of the employees to manage the opportunities of the superior and talented workers successively.Effective talent management approaches are characterized by two elements, the vertical and the horizontal links across the entire talent management operations. A vertical connection is a form of strategic alignment that connects the individual performance with the business needs. An organizations talent management approaches should incorporate people with social skills, motivation, and knowledge to efficiently implement the organization's strategies. The bus iness plan, on the other hand, states the roles that yield huge competitive advantages, the type of talents required and also what abilities to reward or cultivate. Elegbe (2010) argues that the horizontal link integrates talent management and reflect how the talent management practices can be incorporated into the business strategy to yield a coherent system aiming at similar goals. Designing strategic talent management strategies within an organization generate exceptional returns for the company.Optimizing both the vertical and horizontal links between strategy and talent allow a company to a establish talent machine that fuels the execution of the business strategies to achieve maximum profitability. A company is more likely to achieve its strategic objectives, perform better in the market or retain its highly performing individuals if it aligns its business strategy with the talent strategy. Some of the benefits the organization enjoys when it aligns its business strategy with its talent strategy include an increased profitability and productivity, improved employees morale, lower turnover and a high customer satisfaction (Hatum, 2010).The organization also enjoys raised discretionary efforts, a desirable financial transformation, improved technology for instance use of machinery that are more efficient and innovativeness when conducting business operations.The business strategy must be sound, and the talent strategy must be implemented in a way that integrates with all the human resource activities (Hatum, 2010). A research report that aligning Human Resource practices to the business strategy has better results than other practices aimed at boosting the business strategy. A strong talent and business alignment approach function best if they are structured on a strong intellectual base and are conducted by thoughtful leaders with insight regarding the objectives of the firm.Ethics and talent managementThe issue of talent management poses significant risk s when matters of integrity and ethics are involved. The main aim of talent management is to make a business understand that it will encompass talented employees and regular employees. Not every employee is talented enough to fit in the long-term goals of the company, and thus the most superior ones will be treated differently. It becomes very challenging when some employees recognize that some of their colleagues are given more attention and considered first in case of opportunities, which could even result in conflicts. Talent management is only concerned with establishing a small group of workers who can be critical in the long-term achievement of the organizations goals (Ambrose Cross, 2009).The employees that do not form part of this small group might feel unwanted and unimportant, and in most case, they end up predicting that the company will lay them off as they no longer add value. The company should, therefore, implement strategies that make all employees feel important in the business. Such an overall environment of ethical behavior will allow transparency where the manager and the senior executives can make them employees understand their differences and the fact that only a portion of them are required to achieve the companys goals(Ambrose Cross, 2009). Ethics also ensure that the business develops talent continually which makes the business more competent. The selected talented employee are expected to operate within the ethical practices of the company to boost effectiveness and productivity.Hiring talentThe success of any organization is based on its ability to attract and employ individuals with excellent capabilities. The company should not hesitate to employ any individual that perfectly suits the business to ensure that a company employs the most superior people globally. Managers should act as role models and involve their employees once in a while to share and learn which helps in developing talent. As postulated by Pinsker (2009). Creat ing career paths and regularly attracting the employee's performance motivates the talented employees to exploit their potential fully which enhances career development and in the long run results in success.The cultural perspectiveCulture refers to peoples way of life or a shared body of knowledge. Culture shapes people's customs, values, beliefs as well as defining the success of that particular population. Culture, therefore, has a powerful effect in defining a persons talent and an organizations talent management strategy. People's culture affects the performance management for instance if a business has a culture of acknowledging the talent and giving the superior employees the chance to work towards achieving the longer term goals, then that organization has a high chance of succeeding and making profits (Levinson, 2007). According to the cultural perspective, talent management is considered a mindset, in that one, must believe that talent is necessary for success. Every indiv idual has independence over their talent to yield success in the business place due to the difference in nature of the marketplaces. Free markets assign tasks to the employees depending on how best they performed the last time they had an assignment.Initially, it was difficult managing the performance of talented employees who have a lot in common for instance a common language, same experiences, and same backgrounds or even come from the same country. However, globalization has allowed diversity and mobility of talents from one region to the other in a way that different cultural perspectives are converging in the organizational set ups which result to a higher chance of success. Dess (2012) asserts that its possible to find varying cult...