Understanding the Fundamentals of Talent Management for Effective Business Application
International Journal of Economics, Finance and Management Sciences
Volume 6, Issue 3, June 2018, Pages: 98-103
Received: Jun. 19, 2018; Published: Jun. 20, 2018
Views 450      Downloads 46
Author
Abu Saleh Mohammad Sohel-Uz-Zaman, School of Business and Economics, United International University, Dhaka, Bangladesh
Article Tools
Follow on us
Abstract
Organizations irrespective of the nature, sector, and regions, etc. want to attain the sustainable competitive advantage. Unfortunately, in the highly volatile business backdrop, traditional business strategies often fail to bring the desired result as expected. In the search for a new avenue, scholars are showing their keen curiosity towards the value-adding role of human resource. In the knowledge economy, it is believed that human intellect and talent can add value to the business in many ways. Consequently, there is a growing realization that competent and devoted human resource can play an important role in making an organization more effective, i.e. can help an organization to attain its sustainable competitive advantage. As an obvious reason, the concept of talent management could draw considerable attention across the world because of its core philosophy - ‘the right people in the right job’ which can make an organization efficient and effective. Despite the usefulness of talent management, often organizations express their disappointment that they are finding it difficult to implement this concept fruitfully and reap the benefit of it. From the initial investigation, it is revealed that there are a number of challenges in executing this concept. These are: the absence of a clear and precise definition of talent and talent management, the lack of standardized talent functions and processes, complexity in targeting people in the talent management scheme, aligning talent strategy and formulating a congruent talent strategy, and so on. The core objective of this literary paper is to address these problems as systematically as possible in order to learn the business application of talent management. It is presumed that HR practitioners, managers, business leaders would get a clear picture of it (talent management) and meaningful clues for its application. It is also believed that the discussion of this paper would contribute existing HR literature, too. Data and information have been collected through an extensive literature review, expert interview and personal experience for this exploratory paper.
Keywords
Talent Management, Exclusive Perspective, Inclusive Perspective, Talent Strategy, Succession Planning
To cite this article
Abu Saleh Mohammad Sohel-Uz-Zaman, Understanding the Fundamentals of Talent Management for Effective Business Application, International Journal of Economics, Finance and Management Sciences. Vol. 6, No. 3, 2018, pp. 98-103. doi: 10.11648/j.ijefm.20180603.14
References
[1]
Cascio, W. and Boudreau, J. (2016), The search for global competence: from international HR to talent management”, Journal of World Business, Vol. 51 No. 1, pp. 103-114.
[2]
Meyers, M. and van Woerkom, M. (2014), The influence of underlying philosophies on talent management: theory, implications for practice, and research agenda, Journal of World Business, Vol. 49, No. 2, pp. 192-203.
[3]
Vaiman, V., Collings, D. and Scullion, H. (2012), Global talent management: trends, challenges, and opportunities, Management Decision, Vol. 50, No. 5, pp. 925-941.
[4]
Michaels, E. G., Handfield-Jones, H. and Axelrod, B. (2001), The War for Talent, Boston, MA: Harvard, Business School Press.
[5]
Ready, D. A., Conger, J. A. and Hill, L. A. (2010), Are You a High Potential? Harvard Business Review, Vol. 88, No. 6, pp. 78-84.
[6]
Tansley, C. (2011), What do We Mean by the Term "Talent" in Talent Management? Industrial and Commercial Training, Vol. 43 No. 5, pp. 266-274.
[7]
Schuler, R. S. (2015), The 5-C framework for managing talent, Organizational Dynamics, Vol. 1, No. 44, pp. 47-56.
[8]
Naim, M. F. and Lenka, U. (2017), Talent management: a burgeoning strategic focus in Indian IT industry", Industrial and Commercial Training, Vol. 49, No. 4, pp. 183-188.
[9]
Cannon, J. A. and McGee, R. (2010), Talent Management and Succession Planning (2nd edition), London: Chartered Institute of Personnel and Development (CIPD).
[10]
Ashton, C. and Morton, L., (2005), Managing talent for competitive advantage: Taking a systemic approach to talent management, Strategic HR Review, Vol. 4, No. 5, pp. 28-31.
[11]
Tansley, C. and Tietze, S. (2013), Rites of passage through talent management stages: An identity work perspective, International Journal of Human Resource Management, Vol. 24, No. 9, pp. 1799-1815.
[12]
Cappelli, P. and Keller, JR (2014), Talent management: Conceptual approaches and practical challenges, Annual Review of Organizational Psychology and Organizational Behavior, Vol. 1(March), pp. 305-331.
[13]
Armstrong, M. and Taylor, S. (2014), Armstrong’s Handbook of Human Resource Management Practice. London: Kogan Page.
[14]
Lewis, R. E. and Hackman, R. J. (2006), Talent Management: A Critical Review, Human Resource Management Review, Vol. 16, No. 2, pp. 139-54.
[15]
Iles, P., Preece, D. and Chuai, X. (2010), Talent management as a management fashion in HRD: Towards a research agenda, Human Resource Development International, Vol. 13, Vol. 2, pp. 125–45.
[16]
Hughes, C. J. and Rog, E. (2008), Talent management: a strategy for improving employee recruitment, retention and engagement within hospitality organisations, International Journal of Contemporary Hospitality Management, Vol. 20 No. 7, pp. 743-57.
[17]
CIPD (2017), Factsheet: Talent Management: An overview. London: Chartered Institute of Personnel and Development (CIPD).
[18]
Gallardo-Gallardo, E., Dries, N. and González-Cruz, T. F. (2013), What is the meaning of ‘talent’ in the world of work? Human Resource Management Review, Vol. 23, No. 4, pp. 290-300.
[19]
Iles, P. and Preece, D. (2010), Talent management and career development, in (eds) J. Gold, R. Thorpe and A. Mumford, Gower Handbook of Leadership and Management Development, Farnham, Gower, pp. 243–60.
[20]
Ford, J., Harding, N. and Stoyanova, D. (2010), Talent Management and Development: An Overview of Current Theory and Practice, Bradford: University of Bradford Management School.
[21]
Cappelli, P. (2008), Talent on Demand: Managing talent in an uncertain age, Boston MA: Harvard Business School Press.
[22]
Frank, F. D. and Taylor, C. R. (2004), Talent Management: trends that will shape the future, Human Resource Planning, Vol. 27, No. 1, pp. 33-41.
[23]
Collings D. G. and Mellahi K. (2009), Strategic talent management: a review and research agenda, Human Resource Management Review, Vol. 19, No. 4, pp. 304-13.
[24]
Mondy, R. W. and Martocchio, J. J. (2016), Human Resource Management, Essex: Pearson.
ADDRESS
Science Publishing Group
548 FASHION AVENUE
NEW YORK, NY 10018
U.S.A.
Tel: (001)347-688-8931