Talent management in a recession - Literature review Example

They were compiled as “Has the great recession changed the talent game? Six guideposts to managing talent out of a turbulent economy” following the release of the report earlier in 2010. The objective of this study is to articulate the challenges of talent management during recession and the ways in which they may be solved. In face of an economic recession, financial crisis or credit crunch, various corporations may choose to focus on retrenching a section of employees, restructuring the corporate leadership through change management, or devising various cost-cutting strategies (Arthur 2011, p 89).

Through such strategic operations, the corporate strategists and leaders often downplay the value of talent management in the organizational mainstream by failing to realize that talent management is a sin qua non for fostering productivity in preparation for economic recovery. Economic experts reckon that the current economic recession fundamentally change ways in which executives develop, engage and manage corporate employees. The vital query revolves around how talent management strategies will distinguish the winners from the losers during the transition from the prevalent recession into the new economic order.

This study focuses on whether the improving economy is capable of creating a “resume tsunami” as employees seek new ventures. It also seeks to address the question as to whether the time has come for companies to stop playing defense and go on offense on the issue of talent management (Axelrod 2002, p 88). According to the projected findings retrieved from the report of the yearlong Managing Talent in a Turbulent Economy survey, there are various fundamental considerations for executives as the corporate world moves past the current economic turmoil to face the emerging challenges of the new economy.

The survey indicates that these milestone considerations can