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MGMT - Essay Example

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has been faced, by a struggle, to retain talent, innovate in its product line, and maintain its market share after a two-decade era of growth in specialty telecom component manufacturing. There is a generational difference in approach to the problem, with the…
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Management Candlelight Inc. has been faced, by a struggle, to retain talent, innovate in its product line, and maintain its market share after a two-decade era of growth in specialty telecom component manufacturing. There is a generational difference in approach to the problem, with the younger managers and leaders plumping for a more collaborative approach, which has been blocked by their older leaders. With the entry of a new CEO, the problem of talent retention has been isolated as the major problem. Talent retention thus needs to be given priority, with the CEO advocating for the creation of a new talent management team tasked with strategizing, on ways, to retain the talent already in place. The company has a large workforce with manufacturing facilities spread across the US and EU, including Prague and Hong Kong. With 3200 workers in the US alone, coupled with close to 5000 around the world, talent management had to be a major element of their recovery strategy. This paper presents an analysis of the Candlelight case.
Talent retention, especially for managers and leaders, is quite crucial for the company since the talent pool in senior management positions is quite diverse. The new CEO came in with a new Sales SVP and a CMO to drive innovation. The R&D VP reporting to the new CMO was a creative professional, who did much to hold his subordinates accountable. The administrative VP, who has been with the company from inception, has been cited for slow decision-making and has overseen a poor rate of turnover. The slack in coming up with union strategies has led to slow downs and work stoppages. It actually seems that this individual is responsible for some of the company’s malaise since he appears to have limited knowledge on employment practices and international operations. Finally, the COO can also be held culpable for the talent mismanagement given his command and control style that has resulted in employees preferring not to work for him. However, given his expertise is probably an ingredient in the company being able to stay afloat this long, his input is crucial.
Candlelight Inc. has several things going to its advantage, even in these precarious times. Although the company has been grappling with internal problems for years, it has managed remained financially viable and has maintained a sizeable chunk of its market share. Additionally, its global presence has helped the company remain relevant in the international market. Its products are still credible, which has seen its market share remain satisfied, although, with new competition, innovation is vital. Finally, the Appointment of a new proven CEO will most likely invigorate what is a sleeping giant. These factors should give employees hope for the future (Silzer & Dowell 15).
However, the company will have to face up to some challenges in its efforts to retain talent in the current climate. The depleted talent pool at their disposal will have a big impact on their sales and marketing strategy, as well as operations. The knock-on effect of this could be depleted employee morale due to lack of adequate talent management strategies. The company has also seen a leadership dysfunction with the since the senior leadership at the company seem to be functioning out of alignment. The CEO has to deal, with the senior leadership team’s resistance, to change, as well as come up with fresh strategies aimed at efficient talent management. This could include training and development, which would act to counteract the depletion of talent in the company. Given these challenges, the company should look to give talent management the importance that it deserves, especially for a company with a worrying rate of talent turnover (Silzer & Dowell 25).
Works Cited
Silzer, Robert & Ben, Dowell. Strategy driven talent management: a leadership imperative. San Francisco: Jossey-Bass, 2010. Print. Read More
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