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Consequences of Talent management processes in relation to SABIC Company - Term Paper Example

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Talent management aims at improving the business value to enable companies and organizations achieve their set goals objectives (Adamsen, 2014). For the last ten years,…
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Consequences of Talent management processes in relation to SABIC Company
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Consequences of Talent Management Process in Relation to SABIC Company Consequences of Talent Management Process in Relation to SABIC Company
Talent management is the required human effort for an organizational planning to achieve its objectives. Talent management aims at improving the business value to enable companies and organizations achieve their set goals objectives (Adamsen, 2014). For the last ten years, employee count at SABIC has double from 20, 000 to 40, 000 all over the world. A myriad challenges have resulted such as the Company’s recruitment strategy, strategic workforce planning and the quality of leadership skills and competency required. SABIC’s Human Resource Executive Vice President Fahad Al-Sheaibi said at an International Conference of Arab Society for Human Resources Management (ASHRM) that the company employees now require global leadership skills. This is due to the complexity and multiplicity of the modern business environment, as well as employee diversities (Baporikar, 2013). He further said that getting the best of their employees and leveraging their cultural experience as they embrace their diversity is a major source of the Company’s competitive advantage. On SABIC, Al-Sheaibi said that the company has adopted a precise and sophisticated talent management strategy that seeks first to identify the easy steps the organization can take to focus on those challenges (Baqutayan, 2014). SABIC, therefore, must gradually implement a global approach to performance appraisal via the Talent Review Process.
SABIC has identified four priorities necessary for achieving this as enshrined in its vision 2025. These include focusing on the organizational culture and leadership as the key to driving the much-needed changes within internal and external business environment (McDonnell, Hickey & Gunnigle, 2011). The second priority is to ensure that every staff member have the relevant skills and knowledge needed to perform the task to the best of their abilities. Third is to realize that the company’s recruitment is not only aimed at the present market but for future market needs. Lastly is to ensure that the Huma Resource team if fully equipped with the relevant requirements to meet its objectives (Alrasheedi, 2012). He further emphasized that attracting the right people with technical excellence and ability to join the organization is very critical for the realization of their vision. These qualities are what get a candidate through an interview door since SABIC recognizes the fact that most people work to make a difference not only for paychecks.
SABIC also offers Career Development Programmes as an important part of the employee value proposition and monitoring (Sparrow & Makram, 2015). These include Engineering development Program used to guide fresh engineer graduates and those in their first two years of their career through the transition from university education into the real world of work. Such programs aim at building and making the experience enjoyable, and rewarding hence are effective for the organization in delivering on its promise of career development to newbies (Jyoti & Rani, 2014).
In learning and development, the company built SABIC Academy, opened two years ago. The Academy has incorporated executive development programs in its curriculum in partnership with the world-class universities, as well as leveraging the internal expertise via SABIC teaches SABIC program. SABIC also has elaborate talent review process (TRP) coordination department and employee evaluation process that are used to monitor constantly employee performance skills. Competency gap analyzes through constant updates based on job description are among the talent monitoring tools used (Wilska, 2015). The employee value propositions is developed in three audience bands- new employees, middle managers, and senior managers ensures that each band has its customized curriculum focusing on change management, leadership, coaching, and training.
Bibliography
Adamsen, B., 2014, ‘Do we really know what the term “talent” in talent management means? – and what could be the consequences of not knowing?’, Philosophy of Management, 13(3), pp.3-20.
Alrasheedi, M., 2012, ‘Predicting up/down direction using linear discriminant analysis and logit model: the case of sabic price index’, Research Journal of Business Management, 6(4), pp.121-133.
Baporikar, N., 2013, ‘Understanding talent management in borderless world’, Management Today, 3(4).
Baqutayan, S., 2014, ‘Is talent management important? an overview of talent management and the way to optimize employee performance’, Mediterranean Journal of Social Sciences.
Jyoti, J. & Rani, R., 2014, ‘Exploring talent management practices: antecedents and consequences’, International Journal of Management Concepts and Philosophy, 8(4), p.220.
McDonnell, A., Hickey, C. & Gunnigle, P., 2011, ‘Global talent management: exploring talent identification in the multinational enterprise’, EJIM, 5(2), p.174.
Sparrow, P. & Makram, H., 2015, ‘What is the value of talent management? Building value-driven processes within a talent management architecture’, Human Resource Management Review.
Wilska, E., 2015, ‘Determinants of effective talent management’, Jpm, 5(4), p.77. Read More
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