In today’s workforce, recruiting the right talent can be a daunting task. Rapid strides are being made by creating a global talent management system. Hiring the right talent is important for every company, not only will it bring success to the company on a longer run but also cater with business needs. For every business, employees are deemed as valuable assets without whom running a company would be extremely difficult. There are certain organizations that have an entire department taking care of talent management. In present times, the talent management is taking help from the human resources department in achieving company goals.
However, to be a successful global talent management, the organization must not limit themselves to hiring and training candidates to fill positions. There’s more that a talent management can do today. The core responsibility companies must now accept is that they would need to hire talented candidates so that they can build and sustain their workforce. Hiring, developing, retaining, and deploying the right kind of people should be the core aim of a successful global talent management strategy.
Key principles that companies must adhere to remain competitive in the job market:
The first and foremost principle of global talent management is to ensure that the department is aware and stays focused on corporate strategy. It makes no sense if the department keeps hiring talent blindly without proper alignment with the corporate strategy. For example, if the company core focus is on customer service then the department need to focus on this particular subject while recruiting. The talent management department conducts training in alignment with the company’s strategy.
It is important to integrate culture into talent management process. If the talent is not able to cope up with the culture the company is embedded upon, it may get challenging for the organization to retain such an employee.
Taking into account regarding other areas inside the organization helps in maintaining the consistency in a company. The HR and talent management department cannot simply hire a candidate for a similar job role at all different levels of pay. Their focus should also be towards employee retention. Without consistency, it can be a challenge retaining a high-performing employee.
It is crucial to have that balanced maintained especially while operating in multiple countries, institutional environments and cultures. Managers need to find out ways to cater to the global and local needs while having a coherent HR strategy approach.
Every companies needs to find different ways to distinguish themselves from their competitors. Doing so will enable a brand differential with the right set of skills and attitude. Having differences in study topics help differ considerably in the way they resolve problems in order to maintain a consistent brand identity across business units. Most companies are now stressing on their corporate social responsibility to help them get on the edge.
HR and Talent management in action
Due to the existence of many factors that drive global talent challenges, there are certain HR actions that can possibly help firms use in their talent management initiatives. To sustain a global competitive market, it is important to implement the apt action. Categories one need to possibly work upon in the HR actions considered by large firms include performance assessment, location planning and management, training and development, retention, reduction, attraction and selection, and layoffs that can lead to permanent loss of jobs.
The challenges in the talent management and HR field is due to the ever-changing work environment. It is crucial to develop immediate systems that will ensure a close linkage between HR and talent management.