Sustainable Talent Management
Autor: ls1974 • August 28, 2016 • Research Paper • 1,648 Words (7 Pages) • 979 Views
Assignment 5: Sustainable Talent Management
Lakisha Sykes
Dr. Daniel Frost
HRM 532, Strayer University
March 14, 2016
Sustainable Talent Management
Business leaders, management experts and consultants alike continuously discuss the importance of creating competitive advantage. Organizational leaders are faced with uncountable challenges that arise with acquiring, retaining, developing and managing an organization’s human capital. A company’s success or failure is determined by its labor pool. Talent development involves a variety of knowledge management and targeted development strategies designed to achieve and maintain a competitive advantage for an organization by focusing on development opportunities for both teams and individuals.
Talent sustainability is an organization’s ability to continuously attract, develop and retain people with the capabilities and the commitment needed for current and future organizational success (Chandrasekar & Zhao, n.d.). The recipe for talent sustainability is a balanced and dynamic ecosystem of positive talent mindset and talent management system. Building a sustainable pipeline of promotable inside talent that provides top-tier leadership talent needs an integrated, systemic method to talent management (“Building Sustainable Talent Pipelines"). Existing leaders in the company need to be responsible for breeding a talent management culture and advancing the next wave of talent for the business. Employee engagement, organizational culture and leadership development have a significant influence on talent retention. Taking these factors into thought, a combined approach to talent management suggests a path to sustaining outstanding business results. According to Conger & Fulmer (2003) Eli Lilly has a biannual action-learning program that brings together potential leaders, selected by line managers and the human resources department, to focus on a strategic business issue chosen by the CEO.
Determine which performance management process to employ that will measure employee talent.
Performance management processes have to be accepted and effectively used by management. If management does not understand the importance and value, it could lead to consistency late or reviews or vague feedback. Although there are many processes to measure performance, companies must ensure that the appropriate mechanisms are in place to receive and provide feedback. According to Becom & Insler (2013) an effective performance management
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