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Talent Management Strategy - Research Paper Example

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Talent Management Strategy Name: Institution: Course: Tutor: Date: Introduction With the increased competitiveness in the global economy, it has become a necessity for business organisations to adopt highly productive talent management strategies that give them a competitive edge over rival companies…
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Download file to see previous pages This paper will therefore analyse a talent management strategy that links an organization’s goals to talent management strategy in order to gain a competitive edge over rival organisations. The first step in coming up with a talent management strategy is to access the business environment and come up with the important issues that affect the performance of a business both in the long run and in the short run. Strategic context of talent management First, is the visionary aspect of the organisation where it will be concerned with trend spotting; here an organisation scans the environment it is operating in to identify the trends in social, economical and technological activity. In visionary aspect, a company will weigh its effectiveness in translating academic and technical research to business ideas that will give it a competitive edge over its rivals. The explorer aspect of the business involves identifying products for potential growth and markets that are unexploited, in addition, the organisation identifies other organisations with which it can collaborate with in order to increase the volume of its business. The third aspect that organisations can capitalise on is the builder aspect; this involves managing customers’ feedback and determining their preferences. In addition, it will entail developing the products of the organization and adopting the appropriate pricing and advertising mechanisms, the distribution mix, which ensures maximum customer satisfaction, will be evaluated. The lobbyist aspect will involve maintaining a good corporate image with the key stakeholders, presenting the organisations interests within the political environment and lobbying for favourable operating conditions with the regulating bodies. The architect aspect involves recognising technological developments that can be relevant in operations of the organisation, implementing those developments to ensure improved processes and systems. In addition, it oversees planning and implementing of major changes in the organisation structure and practise (Dejoux & The?venet, 2011). Trouble shooter aspect will involve measuring of the corporate activity to be able to identify problems, refocus of an organisations operations for them to be in line with its core aim and tackling problem with high cost operations that have low value hence increasing the productivity of the organisation. The regulator aspect will ensure development of relevant indicators that will be used to monitor and control business activity within the organization, in addition, it ensures the development of standard procedures of operation in order to improve process efficiency and standardisation, establishing financial discipline throughout the organisations activities will also be a part of the regulator aspect. The integrator aspect will ensure the continuous process of improving the employees’ capabilities, it will also be responsible for the continuation and upholding of the business values and ethics. In addition, integrator aspect is responsible for sharing of information, resources and knowledge throughout the organisation. Key components of talent management For an organisation to capitalise on the above aspects, it will require that talent within its employees or externally be identified, the process of identification of talent will be done ...Download file to see next pagesRead More
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