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The Tipping Point For Talent Management

918 words - 4 pages

The Tipping Point for Talent Management

HRM 53
August 20, 2011
James Anderson Sr.

The Tipping Point for Talent Management
Discuss how the economic environment has influenced the need for talent management practices.
As a matter of course, organizational expansion has been permitted by hiring additional people. On the contrary, today’s economic environment obliges that the productivity of existing workers amplify before new headcount is measured. Organizational expansion has converted from the number of talent to the value of talent. “In order to truly enable innovation and get rid of the band-aids that have been put in place during the "storm," companies must ensure that ...view middle of the document...

But the labor force in the cost effective country was seldom trained and able to perform the tasks at high quality standards. The need for talent management rose both from the necessity to train the foreign workers, as well as from the need to adequately manage them.
Globalization refers to the progression and integration of economies, societies, and cultures through a global association of communication and trade, which drives both partnership and competition. Today, those who possess knowledge own the new means of production instead of those who possess land, labor, or capital goods.
This is why globalization has contributed heavily to the tipping point of talent management. Superior talent divides high-performance businesses others. The most successful businesses place their stakes on people instead of strategies. Talent management is a pressing topic in top organizations. The struggle for talent will characterize organizations for many years to come. Labor force demographics are evolving. The framework in which businesses carry out their operations is progressively more intricate and vibrant. An established relationship between talent and organizational performance exists, and globalization has been a large factor in the tipping point for their practices.
Discuss how talent management practices have evolved beyond training programs.
Talent management practices have evolved beyond training programs. Talent is managed through other areas as well, including employee development and talent management. Employee development and talent management are indispensable elements of any tactical human capital management program that cannot be disregarded. Identifying with the distinctive training and developmental needs of team members and extending a basic training program is not enough. When done advantageously and executed efficiently, investments in employee development will also pay huge dividends that takes companies to the next level. Employee development activities are also essential, and can be tailored to individual team members to address their unique growth opportunities. Some organizations prepare customized employee development and coaching strategies so individual team members can reach their distinctive growth capacity. Hand...

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