Talent Management in the Global Context

Changing Technology and Increase in demand for Talent

With ever changing advancements in technology and digitization of businesses. CEO are constantly looking for talent in the Techno industry. Changes are swift redundancy of technology and skills is the order of the day. Using contingent workforce is becoming the norm in the Information Technology industry, healthcare and other industries driven by automation and technology (PwC, 2017: Bondarouk  &  Habraken, 2017).

Retention Management & Talent Sourcing

Managing existing employees, retention of talent and sourcing talent has become the need of the hour for CEO’s in tech industry suggest PwC Survey (2017). Great companies practicing Strategic Human Resource Management (SHRM) invest heavily in Talent development, sourcing, recruitment and selection, appraisals, individual incentives based on performance, Work Life Balance, High Performance Work Practices.

Multiple Sources of Talent Acquisition

Global firms and industry leaders such as fortune 500 companies use several tools to attract talent and strategies. 

1.      Online posting of adverts for talent in internet or intranet
2.      Use of professional networking platforms such as Linked In
3.      Head Hunters to hire talented candidates
4.      Campus Hiring is no exception although this may be based on front line workforce
5.      Industry Magazines and Journals such as the Economist.

Branding and Managing Corporate Image

Perhaps the easiest of the process is sourcing talent pools but the challenge to the employer is retention management, achieving high performance and maintaining high levels of motivation. Among many tools used to attract high potential candidates currently it seems fashionable involve and invest on employer branding and image building exercises using many of the marketing tools such as segmentation of employees in norms such as life style, demographic diversity.   

Talent management is an integrative process linked with SHRM.  SHRM as a strategic partner looks at talent from the needs of Business Goals and Objectives to on boarding  outside talent and encourage effective succession planning. CIPD (2017) makes a point by saying that employers consciously or otherwise is a Brand.  Effective investment on Competency based training, learning and development continuously are vital integral parts along with managing industrial relations. Interestingly despite automation and increase use of ITC, cloud computing, various devices people and talent is high priority in global firms. Microsoft is one of best companies in Talent Management and excel at workforce planning, redeployment, using analytics and leverage the internet (Sullivan, 2005). 

Reference

Bondarouk T., &  Habraken, M., (2017) High Tech Talent Management in a Global Context. University of Twente. HRM. Technology and Innovation

CIPD (2017) Employer Brand: Introduces employer branding, why its important and how organisations can develop a strong brand aligned with their values. Published by CIPD 27^th June 2017  

 

PwC (2017) PwC 20^th CEO Survey 2017. PwC

Sullivan, J., (2005) The Top 25 Benchmark Firms In Recruiting and Talent Management. https://www.ere.net/the-top-25-benchmark-firms-in-recruiting-and-talent-management accessed 29th  Nov 2017 at 9 am.