Review (human resource management) - Article Example

Human Resource: Talent Management Presented Talent Management In the article Top Companies Develop Stars, talent management has been identified as the key to achieving performance excellence in the current sophisticated and dynamic field of management. Many leading global multinationals have diverted their attention from growth and implementing technologies, to development and maintenance of talent among their staff. The article identifies building capacity and competence as the single most advantage that allows companies to set benchmarks and leadership in a highly competitive global market.

From the above article, the best performing companies are in a league of organizations that have shifted their focus from development and expansion of facilities to personal development. These include McDonald’s, General Electric, American Express, among others. In a survey carried out by Chief Executive Magazine involving more than 300 global firms, almost all respondents ranked identifying and finding the right leaders as the biggest challenge, with prospects of demand for leadership increasing to the future (Maxwell, 2006).

This implies that companies in addition to experiencing challenges in creating a pipeline of leaders within their operations have also to develop new skills and capabilities in accordance with business transformations, investing in leading technologies, and globalizing their operations, in addition to entering into new challenging partnerships. Sam Palmisano, President and CEO of IBM explained that the biggest challenge for companies in embracing globalization, and the main aspect that drives businesses in the current sophisticated market is and has been obtaining and retaining a supply of “high value skills” (Palmisano, 2006).

This explains the strategic decisions by leading companies such as MacDonald’s to review development of the leading 200 managers in ensuring their talents are in tandem with the current market dynamics, and finding ways of imparting more skills to make them more competitive; this puts them in line with the current management demands in a highly dynamic global market. On the other hand, maintaining a high degree of strategic, cultural, and internal fit within an organization ensures such an organization has a perfect system of practices; an organization must not only focus on talent management, but has also to take interests in “organization learning and knowledge management” (Evans, Pucik & Barsoux, 2002).

Therefore, companies will always attain a competitive advantage not only in designing best practices, but because they also guarantee the necessary elements in talent management, and are strategically aligned globally, internally, and externally in supporting their business models and operating strategies (Evans, Pucik & Barsoux, 2002). This explains the strategic talent development practices by companies such as Eli Lilly, which requires managers to take a project outside their field of operations, in ensuring managers in the company maintain a culture of organizational learning and knowledge management.

Such a strategy ensures they are multi skilled to fit in the current global market and its dynamic challenges. Knowledge management has to be implemented in all management levels; it is not a preserve of the CEO, or the HR. Managers at all levels have to be involved in making talent recruitment and management processes, succession planning, and developing leadership capabilities their leading priorities. The line managers would in turn be responsible for ensuring development of their staff, which will build a culture of talent development and management within an organization.

In this regard as the article indicates, companies such as GE have a requirement that all its interns have to be critically evaluated, trained, and monitored before they are absorbed in the company. The strategy ensures continued talent acquisition and development within the organization. The rigorous recruitment process ensures all the hired employees are able to adopt such corporate culture. In addition, the process aims at determining the best talents necessary in ensuring market leadership and performance in a highly competitive and dynamic operating environment.

Therefore, the article Top Companies Develop Stars articulates the current challenges in organizations operating in a highly challenging market. The article illustrates the factors that make a few global entities to set benchmarks in global markets both in performance and in skill management, making talent development and management the new battle ground for organizations as they strive to set benchmarks in the global market today.ReferencesEvans P., Pucik V., & Barsoux J., (2002) The Global Challenge: Frameworks for International Human Resource Management, NY: McGraw Hill.Mathis, R.L.

, & Jackson J H.,(2010) Human Resource Management, OH: Cengage Learning Maxwell, P., (2006) The Vital 6 Findings from the 2005 CEO Magazine search, Hay Group Newsletter (July 18), 8-11.Palmisani, S., (2006) The Global Integrated Enterprise, Foreign Affairs, 85(3), 127-136