1、中文 2980 字 SCHEMATIZING TALENT MANAGEMENT, A CORE BUSINESS ISSUE Schehar Bano 1 Introduction Talent management is of core to the vitality of the business to meet and exceed current as well as future business strategies and goals. Framework of talent management proactively anticipates and meets busine
2、ss talent demand which is necessary to successfully execute the business strategy. It insights into the business strategy, then accordingly develops as well as retains prior talent and attracting new talent to cope with the strategic needs in order to get best utilization out of tools and processes
3、to deliver talent management solutions. The concept of talent management was derived from World War II (Cappelli, 2008), however its strategic importance has been realized when McKinsey consultants group claimed the human resource as “War for Talent” in late 1990s (Scullion and Collings, 2010). This
4、 war for talent was prompted by the realization that talent shortages were increasingly becoming one of the biggest human resource concerns for multinational corporations (Makela et al., 2010). Thus, the organizations interested in maximizing productivity and effectiveness adopted systematic and rig
5、orous approaches for attracting, selection, development and retention of talented key employees (Huselid et al., 2005). Thus, find and retains the right person possessing exactly aligned talent is not adequate for stepping in accomplishing a firm with competitive edge in market. A firm may also poss
6、ess the right configurations, procedures, systems and practices in place (Lawler, 2008). In order to acquires the competitive advantage and adjoin the business requirements, firms need to reckon, select and groom through training and developing their work force in such a way that ultimately supports
7、 in achieving the organizational goals and out lays the clear career path line to the employees. Organizations must be interactive and discuss their talent management programs strategically with their work groups. Key terms, core concepts and implementation step by step practices relating to talent
8、management analyses and examines life cycle of talent management from acquisition of talent to its retirement. Talent management is increasingly a part of the corporate strategy for most of the organizations and one does not needs to struggle in order to have access to the literature related to attr
9、acting, development and retention of talent. Corporate sector has emerged with immense importance of talent management. For example, CEO A.G. Lafley of worlds largest consumer company namely Procter & Gamble claims that he spends one-third to one-half of his time in developing talent (Holstein, 2005
10、). In comprehensive reviews of the talent management literature, Tarique and Schuler (2010) note that many studies have limited focus on human resource practices incontext of recruiting talent management, leadership and succession planning development. In order to establish its academic merits, Huse
11、lid et al., (2005) have argued that talent management needs to be differing from other HUMAN RESOURCE approaches so that it may focus on identifying the core positions. 2 Relationship of Talent Management with Employee Work Engagement H1: Talent Management is positively associated with Employee Work
12、 Engagement. Although, this is commonly understandable that employees remain engaged with their work in favorable work settings because they are paid for it, however, literature also hints that work engagement comes from jobs satisfaction which in most cases is derived from effective talent manageme
13、nt practices. Effective talent management procedures and systems demonstrates the commitment of talent management to human resources resulting in lower rate of employee turnover with higher volume of employee commitment and engagement, Consequently, employee engagement has significant effect on prod
14、uctivity or output of employees and in retention of talent. Despite many citations of an organizational lack of proficiency in talent management (Cappelli, 2008), a 2008 CIPD report “the war on talent”found thatorganizations are now placing greater scrutiny on their talent management processes (CIPD
15、, 2010b). Further, a 2008 Hewitt survey revealed that almost halfof the companies studied planned to increaseor sustain employee learning, engagement and development budgets during the economic slowdown (Beechler and Woodward, 2009). Much has been written in the talent management literature on facto
16、rs contributing to talent engagement and retention. Tymon et al., (2010) research in India found that the key predictors of employees intention to leave are satisfaction with and pride in the organization and perception of the employer as being socially responsible. The previous studies reveal that
17、corporate social responsibility, which fosters employee engagement in social activities, is also associated with work engagement. Other key factors include building trust and open communication channels into the employer-employee relationship (Frank and Taylor, 2004) and fostering employee engagemen
18、t (Tarique and Schuler, 2010). 3Relationship of Talent Management with Employee Turnover Avoidance H2: Talent Management is positively associated with Employee Turnover Avoidance. In the present competitive business environment, aggressive recruitment of talent management of valuable employees occurs, and the retention of high performers remains critical (Smith, 2009). This is because they contribute valuable addition to the
