Importance of Talent Management in Healthcare Organizations
Introduction
In recent years’ talent management has
received increased research attention due to its ability to create and sustain competitive
advantage of the company (Ashton & Morton, 2005; Coulson-Thomas, 2012).
Basically, talent management is related to creating a talent pool from external
and internal sources, adequately deploying these resources in pivotal
positions, and further, work on their work motivation, organizational
commitment and extra- roles behaviors that contribute to organizational
performance (see: Collings & Mellahi, 2009).
Such understanding of talent management
concentrates attention on differentiation and departing from classical – human
resource management approach. That means that organization willing to actively
engage talents in organizational life have to figure out ways of capitalizing
on their competencies and prepare structures, strategies and climate to
encourage their employees on pivotal positions to contribute to organizational
success (Ingram, T. and Glod, W., 2016).
Despite
a significant degree of academic and practitioner interest the topic of talent
management remains underdeveloped (Collings & Mellahi, 2009). A key limitation is the fact that talent management lacks a consistent
definition and clear conceptual boundaries (Collings & Mellahi,
2009).
Several research has been conducted to
identify the fact about the ways thorough which public organizations,
specifically healthcare organizations manage their talents (Ingram, T. and
Gold, W., 2016).
Talent Management Definition/Model
In general, talent definition can be
classified into inclusive and exclusive approaches (Garavan et al., 2012).
Inclusive view represents every employee as talented due to the specific role
played by everyone and the participation in business developments. While
exclusive viewpoint has a completely different attitude; because talented
individuals are distinct in their competence (Zhang & Bright, 2012).
Video 1 - What is Talent Management
The common core definitions of Talent Management model and the four key functional activities (recruiting, Interviewing, Selecting and Concluding) to ensure organizations attract, retain and engage talented staff.
Source: (GreggU, 2017)
Importance of Talent Management
Talent management brings together a
number of important Human Resources (HR) and management initiatives. (Kumar
& Rajasekar 2013). According to Society of Human Resource Management
(2015), Talent Management practices is the implementation of integrated
strategies or systems designed to increase workplace productivity by developing
processes for attracting, retaining, developing and utilizing people with the
required skills and aptitude to meet current and future business needs. The
notion of talent management was instigated during Second World War (Cappelli,
2008). Talent management practices is a course of action crafted to make
certain that an organization has the precise individuals to discharge its
objectives. It resurfaced in the late 1990’s after McKinsey firm testified that
company owners face a ‘war for talents’ exemplified by complicatedness in
hiring of staff owing to stiff labour market (Hartman et al., 2010).
Key
to helping healthcare organizations keep pace and still provide a top-notch
patient experience is an agile, focused and aligned employee
experience that meets generational expectations. With an agile talent
management infrastructure in place, healthcare organizations can respond more
quickly and cost-effectively to shifts in compliance and validation standards,
talent loss or shortage, and overall, gain better insights around how to best
develop staff to drive quality patient care and employee retention (Armstrong,
T. 2021)
List of References
Aljanabi,
A.R.A. and Kumar M, D., 2013. Talent management strategy and absorptive
capacity as antecedences of innovation capability: A conceptual framework. Research
Journal of Social Science & Management (RJSSM), 2(9),
pp.115-123.
Armstrong,
T., Area Sales Maanger, Benifitfocus, 2021, ‘Why Talent Management Makes Sense
for Healthcare Organizations, Resource Corner, Cornerstone, viewed 29 August
2021, < https://www.cornerstoneondemand.com/resources/blogs/why-talent-management-makes-sense-healthcare-organizations/>
Collings,
D.G. and Mellahi, K., 2009. Strategic talent management: A review and research
agenda. Human resource management review, 19(4), pp.304-313.
Garavan,
T.N., Carbery, R. and Rock, A., 2012. Mapping talent development: definition,
scope and architecture. European journal of training and development.
GreggU
2017, What Is Talent Management? 2e, viewed 29 August 2019, < https://www.youtube.com/watch?v=oobsCZS5okY>
Hejase,
H.J., Hejase, A.J., Mikdashi, G. and Bazeih, Z.F., 2016. Talent Management
Challenges: An Exploratory Assessment from Lebanon. International
journal of business management & economic research, 7(1).
Ingram,
T. and Glod, W., 2016. Talent management in healthcare organizations-qualitative
research results. Procedia Economics and Finance, 39,
pp.339-346.
Zhang,
S. and Bright, D., 2012. Talent definition and talent management recognition in
Chinese private‐owned enterprises. Journal of Chinese entrepreneurship.
it is important to function proper talent management model in an organization, as per the Nawaz and Prathibha(2013) Talent management model is an illustration of interrelationship between the talent management process and depict how these processes could add value to an organization and models normally guide HR policies & procedures, management interventions and required behavior to overcome objectives of the process(Millar, 2013 & Tetik, 2017).
ReplyDeleteYes Tushari. In addition, global companies must balance the tension between effective decision making and implementation at the local level versus standardized systems and processes at the global level. These companies thus achieve a competitive advantage not solely because they design and implement “best” practices but rather because they guarantee the various elements of their talent management system are aligned—internally, externally, and globally—to support their business strategy and operating model (Evans, Pucik, and Barsoux, 2002).
DeleteAggred with the you. According to Barney, Talent Management (TM) focuses more on the human side of work and considers talented individuals to be a competitive advantage of firms, whereas HRM includes all organizational functions. HRM is more technical and employs a transactional approach, whereas Talent Management (TM) focuses on growing the organization's people talent. Blass (2009) created a diagrammatical model of the Talent Management (TM) region and how it is made up of many components.
ReplyDeleteThat's right Menupa. Moreover, talent management practices with a strong focus on corporate strategy have a statistically higher significant impact on organizational outcomes such as company attractiveness, the achievement of business goals, customer
Deletesatisfaction and, above all, corporate profit, more so than any other areas that talent management focuses upon (Bethke, Mahler and Staffelbach, 2011).
Agreed with what you stated. Employee retention has emerged as one of the major focus in the recent years in HRM studies, particularly as part of talent management programs (Ahamid,2012). It’s important to create a competitive environment in organizational culture. For that Talent management is a must especially in Healthcare sector which helps to provide better service.
ReplyDeleteRight Roshini. That's an important factor for talent management in organizations. Bureaucratic Culture – Organizations adopting bureaucratic culture are the ones who practice standard operating systems, hierarchical management system, and formal rules
Deletewith a focus on efficiency, predictability and steadiness. Behavioral norms follow formality over informality (Sudar and Sapkal, 2019).
Agreed with the argument. Similarly, talent management plays a critical tool in measuring an organizations' success in a highly competitive marketplace. It focused on retaining, attracting, developing, and identifying required skilled employees (Taha and Zaid, 2015).
ReplyDeleteYes Amila. While some of the qualities and talents that people have might be transferable, an exceptional talent in one area may be found to be average in another. What often count in competitive situations are the skills employed in a particular job, especially a job that has a disproportionate impact on the bottom line (Thomas, 2012).
DeleteYes. According to Mullins (2010), In order for the HRM function to be effective, the levels of teamwork should be high and consistent with continuous co-operation and interrelation between line managers and HR. The same is very important since then only the appropriate set of human resource can be recruited and selected by the HR
ReplyDeleteThat's true and to add. Talent Management can crucially help optimize organizational learning processes. In this sense, it is essential to recognize the strategic character of TM (Guthridge et al., 2008; Iles et al., 2010; Mellahi and Collings, 2010; Schuler et al., 2011; Scullion et al., 2010; Vaiman et al., 2012). Certainly, TM tackles the relationship between talent and strategy, whereby talent is a valuable, scarce and often hard to imitate resource
Delete(Boudreau and Ramstad, 2005; Lewis and Heckman, 2006).
Growing interest in talent management has resulted in numerous studies, in which several interesting approaches may be identified. In particular, four main perspectives on talent management are prevailing in the literature. First of them focuses on sets of practices and functions strongly related to human resource management (Lewis & Heckman, 2006). Researchers undertaking this perspective try to differentiate the set of talent management practices underlining its strategic and future oriented nature and relationship to strategic objectives (Tarique & Schuler, 2010).
ReplyDeleteHowever. Competencies can be at the center of many of your human resource policies and programs as they specify performance management criteria, help plan careers, and highlight training and development needs (Singer and Griffiths, 2010).Other organizations have used core competencies in times of change to assess training needs and establish performance expectations. Using core competencies after a reorganization to choose which current employees would join a new e-resources unit and to determine areas of growth for unit members moving forward (Chamberlain and Reece, 2014).
DeleteCappelli. P. (2013) said talent management is not about developing employees creating success full plans. Its exist to achieve organization overall objectives.
ReplyDeleteIn principle, there are two basic views of what or who talent is. Some people consider a talented individual as an extraordinary efficient employee with a high potential who can have a significant impact on organization's efficiency. They think that talent management concerns a key individual only i.e. competent people seeking higher or top positions (Smilansky, 2006). Other experts, however, say that as a talent can be practically considered anyone who is able to contribute to achieving organization's objectives and that talent management should not focus only on a small number of favored individuals. One of the most common definitions describes a talented individual as a man who gives both a high performance and shows a high potential.
DeleteAgreed with your points. It is difficult to identify the precise meaning of “talent management”.The terms “talent management”, “talent strategy” Corresponding author”, “succession management”, and “human resource planning” are often used interchangeably (Lewis, R.E. and Heckman, R.J., 2006).
ReplyDeleteBut. Beyond the confusion in definitions, we believe this is a problem for, not so long ago, planning and managing the acquisition, selection, and careers of employees was the province of Human Resources. Why the change in terminology and what, specifically, is talent management? Several recent articles in the practitioner-oriented literature describe “talent management” as “a mindset” (Creelman, 2004); a key component to effective succession planning (Cheloha & Swain, 2005); and, an attempt to ensure that “everyone at all levels works to the top of their potential” (Redford, 2005).
DeleteAgreed. “The success an organization experiences, is impacted heavily by the nurturing of
ReplyDeleteits top talent. (Berger et al, 2004) Therefore, Talent Management is beneficial to both the
organization and the employees. The organization benefits from: Increased productivity and
capability; a better linkage between individuals’ efforts and business goals; commitment of
valued employees, reduced turnover, increased bench strength and a better fit between
people & jobs and skills. Employees benefit from: Higher motivation and commitment; career
development; increased knowledge about and contribution to company goals; sustained
motivation and job satisfaction.
The efficient work with talents is based on building talent management strategy that will be in line with organization's philosophy and business strategy (Cannon and McGee, 2007). Only from that strategy and through the strategy of human resources management key decisions can originate suggesting whether and which activities of talent management should be implemented. Strategy of talent management is aimed at ensuring a fund of highly talented, competent, committed and loyal individuals able to contribute to achieving the current as well as future organization's requirements, a so-called talent-pool (Horváthová, 2011).
DeleteAlmost all infrastructure leaders described innovation not as the introduction of new technologies but as “new ways of doing things” when providing service and conducting day-to-day operations for their organizations. Infrastructure leaders believe that constant innovation represents their only chance of meeting user expectations and business demands within budgetary constraints. (McKinsey 20212)
ReplyDeleteYes Nuwan. The first step the organization has to take is to identify key roles. In connection with that the organization has to assess whether there are available employees with key competencies who will be needed in the future in dependency with business strategy (Berger and Berger, 2003). On the other hand. More and more quick and frequent changes of the external environment make higher and higher demands on organizations (Borbás, 2006).
Deleteyes, (Nisar, 2014) also stated that talent management covers different characteristics of human recourse as it includes growth of employee by different methods. Organizations should seriously consider talent management as a organization’s priority and a part of organization’s culture
ReplyDeleteThank you Krishna. Human resources (HR) leaders will have to work closely with senior management to attract, hire, develop, and retain talent. Yet, HR leaders must realize that the talent shortage presents both socio-economic and cultural challenges as talent crosses borders (McCauley & Wakefield, 2006). Socio-economic challenges include the changing demography, aging workforce (i.e., Baby Boomers), lack of comprehensive immigration legislation, global security concerns the global economic doldrums, and off shoring and outsourcing of jobs (Lockwood, 2006). Cultural challenges include cultural differences from country to country, the power of labor unions in different cultures, and management style differences (Frank et al., 2004). Organization leaders must achieve long term stability from their talent management strategies to remain competitive in the global economy and not engage in short-term approaches that result in economic crisis, such as massive layoffs (Temkin, 2008).
DeleteAgreed. Successful organizations will give prominence to attracting, retaining, developing, and building leadership in employees, thereby will get the employee participation in building the organization’s strategy (Heinen & Neill 2004).
ReplyDeleteYes Chathuri, to add a bit more. There are slightly more organizations with talent management programs than those without. A study found a higher percentage of organizations using talent management (approximately two thirds) than previous studies where this number was barely above one half (Lockwood, 2006).
DeleteBut is was even a challenge before the COVID-19 Pandemic. During the last decade, a shortage has emerged of talent in the workplace (Frank & Taylor, 2004). As organizational leaders struggle to find talented workers, leaders will be faced with the dilemma of how to retain knowledgeable workers and replace the 70 million Baby
ReplyDeleteBoomers who will be retiring from the workforce (Frank, Finnegan, & Taylor, 2004). Companies are now faced with the dilemma of how to address talent management and reformulate strategies especially in today’s global economy where every organizational leader must continually invest in human capital to combat the talent shortage (Temkin, 2008).
Agree with your point Khalid, in addition According to analysis there is no difference in regard to existence of formal talent management programs, no matter the size of the company. That is especially interesting considering that in large organizations such programs became very popular and are frequently introduced (Preece, Iles, & Chuai, 2011, pp. 3413-3428). Such programs would help organizations to structure their attempts and better motivate their employees.
ReplyDeleteYes. Simply stated, talent management is an organization’s formal plan to optimize its talent pool—employee recruitment, retainment, development, and so forth—with a goal to create a culture that will meet the organization’s current and future business objectives. Traditionally, these talent management efforts were often focused exclusively on employees with strategic value to an organization, such as the C-suite and high-potential employees (Ellis, 2015).
DeleteVery well said Khalid,
ReplyDeleteIn the phase of setting individual performance standards, expectations and goals. Each employee must know what their roles & responsibilities are and what performance standards they must meet, as part review job description expectations with employees includes reviewing an employee’s job description to confirm roles, responsibilities and expectations for the position(Falcon, 2017).
Yes. there is a relationship between the role clarity and psychological empowerment. Role clarity mediated the relationship between leader-member exchange and psychological empowerment, while psychological empowerment mediated the relationship between role clarity and work engagement as well as turnover intention. Leader-member relations lead to better understanding of roles, while role clarity empowers and engages employees (De Villiers, Stander, 2011).
DeleteAgree with you Khalid. However, in many areas of the world, the demand for health care outnumbers the supply of people who can provide it there fore talent management in the healthcare system can be achieved through, extending the pool of potential recruits, setting goals for increasing the number of health workers produced, and providing more career possibilities and flexibility in health systems (Maeda et al. 2014: 42; Girasek et al. 2016).
ReplyDeleteYes Kavan. To add to your points, talent management and retention have become widely acknowledged as among the most important factors for organizational success since the McKinsey Report coined the term ‘the war for talent’ in 1997 (Collings & Mellahi, 2009). Given its popularity and strategic importance in the corporate world (Collings, Scullion & Vaiman, 2011; Festing & Schafer, 2014; PricewaterhouseCooper [PWC], 2013), the discourse and the practice have been principally driven by business and consulting firms (Al Ariss, Cascio & Paauwe, 2014), particularly under the notion of talent shortage.
DeleteYes Agree Khalid, The increase in the global shortage of highly skilled workforce especially in the knowledge based sectors has also made the competition to hire and retain the necessary talent more difficult (Manuel , 2016) As a result, the focus of Human Resource Management is on hiring and managing those employees considered most relevant to the long term interests of the companies or in other words employees who are “Talented” (Tarique, 2011).
ReplyDelete