Future of Talent Managemen
It has been forecasted, that in the face of environmental
turbulence, globalization, demographic changes, the increasing role of
technology, intellectualization of work the importance of talent management
issues will continue to grow. In this context, to the rank of a specific symbol
grows the title and content of the article written by V. Buckingham and R.
Vosburgh “The 21st Century Human Resources Function: It's the Talent, Stupid.”
(2001) In the research, conducted by The Conference Board in partnership with
the House of Skills, as many as 94% of personnel managers from the surveyed
enterprises stated that the issue of talent management in the coming years will
gain in importance. It is already treated in terms of a very important success
factor of the organization (see Chart 1).
Chart 1. Key internal success factors of an
organization in the evaluation of managerial staff
A Society for Human Resources Management (SHRM) survey revealed
that less than one-third of employers are adjusting their talent management
policies and practices to the aging of their workforces (Collison, Jessica,
2003), and 60% of organizations don’t account for workforce aging in their long
term business plans (Dychtwald et al., 2004).
The trajectory so far can be viewed as overwhelmingly positive, in
terms of advancing our knowledge of TM and how organizations are dealing with
the inherent challenges (McDonnell 2017). However, there is a need for caution
because it is a term that appears to be used on many occasions in very a loose
way that may have negative repercussions for conceptual and theoretical
advancement which is the bedrock of establishing a critical research field (McDonnell,
2017).
We envision that in the next 5–10 years the landscape for TM will
change drastically, especially through the availability and use of social
media. Innovations in technology, like Taleo’s talent market and Linkedin, can
significantly improve the ability for companies to find talent quickly
throughout the world and to match talent supply with demand more effectively (Ariss
et al. 2014). It has also been notified that the increased popularity of crowd
sourcing and open sourcing that allow companies to source brainpower for free
(or at a very low cost), in addition to increased internal mobility and tapping
of talent on demand. For example, HSBC has a pool of 450 people it can deploy
globally to work in any function to help the bank fluidly move skills to where
they are most needed at any point in time (Ariss et al. 2014).
Following trends are foreseen: (1) Global abundance but local
scarcity of talent; (2) Fewer young people and more older people, many heading
rapidly towards retirement. Of course this will depend on national demographic
contexts; (3) More differences across generations at work, as well as
similarities (e.g., the need for respect, supportive bosses, and credible,
trustworthy leaders); (4) More diverse, remote, and virtual workforces with
different attitudes toward work; and (5) New methods of working and new
relationships between users and suppliers of talent (Ariss et al. 2014).
In addition, scholars need to push the intellectual boundaries and
focus on making this a sustainable field of research that adds not only to
academic understanding and theorization but which also helps bridge the
often-highlighted practice gap (McDonnell, 2011). If the field is to advance to
maturity there is an acute need for the rather fragmented nature of the
literature to be brought closer together towards a more common paradigm and it
is this to which we urge scholars to pay most attention (McDonnell, 2017).
List of References
Al Ariss, A., Cascio, W.F. and
Paauwe, J., 2014. Talent management: Current theories and future research
directions. Journal of World Business, 49(2), pp.173-179.
Collison, Jessica, Older Workers Survey, Society for Human Resource
Management, June 2003.
Dychtwald, Ken, Tamara Erickson, and Bob Morison, “It’s Time to
Retire Retirement,” Harvard Business Review, March 1, 2004.
McDonnell, A. (2011) ‘Still fighting the “war for talent”? Bridging
the science versus practice gap’, Journal of Business and Psychology, Vol. 26,
pp.169–173.
McDonnell, A., Collings, D.G.,
Mellahi, K. and Schuler, R., 2017. Talent management: a systematic review and
future prospects. European Journal of International Management, 11(1), pp.86-128.
Moczydłowska, J., 2012. Talent
management: theory and practice of management. the polish experience. International Journal of Bussiness Economic Research, 3(1), pp.432-438.
Tucker, E., Kao, T. and Verma, N.,
2005. Next-generation talent management. Business Credit, 107, pp.20-27.
Agree with your arguments. Further talent management is a multi-faceted subject with four main points of discussion. They are HR-processers, skill and leadership training and development, long-term talent strategy, organizational design, and effectiveness. (Shen, J., 2017)
ReplyDeleteYes Nuwan. However, Recent reviews have come to the conclusion that the academic field of TM is characterized by a lack of definitions and theoretical frameworks (Lewis & Heckman, 2006). In fact, the lack of consistent definitions appears to be the reason why there are at least three different ways of interpreting Talent Management (TM) in practice: (1) TM is often used simply as a new term for common HR practices (old wine in new bottles), (2) it can allude to succession-planning practices, or (3) it can refer more generically to the management of talented employees (Lewis & Heckman, 2006).
DeleteTalent management is an undeniable factor when it comes to business strategy and human resources management (Mathew, 2015) further supports the argument regarding the importance of talent management
ReplyDeleteYes. It is essential to understand how the ‘global’ dimension of TM is practiced in organizations. Shen and Hall (2009) suggest that the more connected the employee is to
Deletehis/her job, co-workers, organization, and community, the more likely he/she is to stay and to seek intra-organizational growth opportunities upon completion of an expatriation experience.
Agreed, also (Bersin, 2020), argued that the process of the internal talent marketplace is about much more than career pathing, internal recruiting, or employee learning and development and it's a transformative innovation that will be prominent to managing talent in the future.
ReplyDeleteIn the interest of making talent management more comprehensive and better understood, given the distinct lack of frameworks currently available for research in talent management, we offer the following suggestions for future research. First, we urge researchers to understand talent management as a relational construct. That requires researchers to take into account relationships among individual, organizational, institutional, and national/international contexts that shape the management of talent (Al Ariss & Crowley-Henry, 2013). T
DeleteAgreed. The disclosure of talent management has resulted in taking the issues on people management, to the attention of the senior management to a greater extent, when compared with the past, thereby top management identifying the development of leadership and talent as a key priority to the organization (Collings et al, 2011).
ReplyDeleteThanks Chathuri. However, academic literature indicates that there is a lack of universally accepted definition of talent management (Cappelli and Keller, 2014). There appears to be a tremendous diversity in defining talent management as scholars and organizations from varied industries have coined their own conceptualizations (Gallardo-Gallardo et al., 2013).
DeleteYes Khalid, Talent management can also improve the organization’s competitive advantage. As the organization can ensure the top talent wants to work for them, not the competitor, they are able to select the best team. Also continuous taining is also needed for ensuring long-term benefits of the talent. If employees notice the organization invests in its employees and is the leader within the industry, it can guarantee the top talent doesn’t look elsewhere for employment opportunities (Luenendonk, 2019).
ReplyDeleteThanks. It is the strategic management of the flow of talented employees through a variety of roles and jobs in an organization in order to secure a supply for future roles (Duttagupta, 2005).Importantly, the present young talent pool of Gen Y cohort craves continuous learning and developmental opportunities (Naim and Lenka, 2016).
DeleteTalent Management is an employer’s commitment to recruit, retain and develop the most talented and superior employees available in the job market and in future talent management may be change according to the nature of work, the working environment and employee requirements (Nirala & Chaudhary , 2014).
ReplyDeleteThanks. Collings and Mellahi (2009) defined TM as “activities and processes that involve the systematic identification of key positions that differentially contribute to the organization’s sustainable competitive advantage, the development of a talent pool of high-potential and high-performing incumbents to fill these roles, and the development of a differentiated human resource architecture to facilitate filling these positions with competent incumbents, and to ensure their continued commitment to the organization” (p. 304).
DeleteTotally Agreed Khalid, and Adding to your points further, To survive this competitive business environment organizations need creative and innovative skilled employees hence talented employees are the asset to the organization and should be treated appropriately (James M.J, 2011).
ReplyDeleteThanks Gajendran. One popular approach is considering Talent Management as Succession Planning. In this perspective, a key task is to develop “talent pipelines” to ensure the continuous supply of competent employees (Lewis and Heckman, 2006).
DeleteGood discussion Khalid. Talent management has changed drastically with the advancement of technology and socio-economic development. This has forced organizations to evolve and rethink their ways of recruitment and also candidates are now more than ever, required to adapt and follow modern recruitment methods so that they are noticed by hiring organizations. (Ployhart, 2006)
ReplyDeleteThank you Kavan. Technological advances have touched nearly every aspect of human life in recent decades, including the world of work. This chapter provides an overview of how these advances have specifically affected talent management. Organized around the primary elements of the talent-management lifecycle (identifying talent, acquiring talent, developing talent, and evaluating talent), each section provides a summary of current research findings and practice trends, examples illustrating those trends, and questions to guide future research (Gavan and Puente, 2017).
DeleteAgreed. Farndale et al. (2009) confirms, that the competition between employers has shifted from the country level to the regional and global levels (Ashton & Morton, 2005).Therefore, Today’s businesses have to cope with hard competition and continuous change, Human Resources Management (HRM) and Talent Management (TM) is clearly affected by this turbulent environment (Information Resources Management Association, USA,2012)
ReplyDeleteYes Nilmini, and that's why the issue of global talent management (GTM) has become an
Deleteimportant area for research for a number of key reasons. Competition between employers has become more generic and has shifted from the country level to the regional and global levels (Ashton & Morton, 2005; Sparrow, Brewster, & Harris, 2004)
Yes Agree kahalid . According to saban (2012), “Talent management is the systematic attraction, identification, development, engagement, retention and deployment of those individuals who are of particular value to an organization, either in view of their ‘high potential’ for the future or because they are fulfilling business/operation-critical roles”
ReplyDelete