...Assignments # 5 Sustainable Talent Management Utilizing Talent Management Strategy in Mind from Assignment 3 write a paper responding to five statements. Julian Phillips March 18, 2012 Human Resource Information Systems (HRIS)-HRM 532 Dr. Zelphia A. Brown, SPHR, Instructor Sustainable Talent Management Utilizing Talent Management Strategy in Mind from Assignment 3 write a paper responding to five statements. 1. Determine which performance management process you will employee to measure employee talent. Although there are numerous performance management processes that can measure employee talent particularly in this day of computer technology. The most important parts of such a process is to ensure, the old phrase, "of having the right talent in the right roles at the right time is one of the most important issues facing line executives and human resource professionals today." (Silzer & Church, 2009) In order to ensure that this analogy, which is critical, remains true for any company they must continuously have mechanisms of feedback and then reviews of employees on a regular basis. Most companies would have employee reviews once a year, however, I believe that it is better for this to be done twice a year. There are companies that utilize just annual performance appraisal process by using the performance reviews that evaluate individuals with the potential to succeed in more complex or higher-level roles within the organization. This approach brings to light...
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...the United States. Bank of America began as a small regional North Carolina National Bank and has become one of the largest companies in the world. Bank of America services individual consumers, small, middle market businesses and large corporations. 1. Outline the talent management program that led to success for the company. Bank of America has always been a leader in the financial services industry. Its philosophy of talent management and development is driven by seven guiding principles that create a mindset that is pervasive across the bank’s executive ranks. The seven different philosophies are stated below: 1. Leaders really do matter in managing and driving accountability, results and culture. 2. Performance rules: Top performers, then high potentials 3. Talent is an enterprise resource. 4. Today’s top-performing leaders are not necessarily tomorrow’s. 5. A broad set of experiences and assignments is the best classroom; yet, a balanced approach is necessary for development. 6. Today’s top 100 must leave a legacy of future talent by teaching, mentoring and serving as role models to others on what it takes to succeed. 7. Invest in the best and focus the rest. Bank of America’s talent management and development efforts are structured around a core set of frameworks that includes the Bank of America core values, a 70-20-10 development frameworks that includes experience based development, 70 percent, coaching and feedback, 20 percent, and learning, 10 percent;...
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...the growing popularity of talent management and over a decade of debate and hype, the concept of talent management remains unclear’ (Collings and Mellahi, 2009) This assignment will explore this statement by conducting a literature review of the current commentary on the definition of ‘talent management’. Furthermore the impact any lack of clarity around the concept of talent management may have on the national and international markets which organisations source ‘talent’ from and any impact of Human Resource Management practices in terms of employee retention and exit strategies being managed fairly and ethically will also be looked at. After careful analysis of the academic literature on talent management and what it actually is, it becomes apparent that there is a ‘fundamental lack of consensus’ about the definition of talent management. Despite various attempts of countless academics to define and describe the concept of talent management, there doesn’t seem to be any consensus on what exactly TM entails. Before looking at the concept of ‘talent management’ as a whole, one must look at the definition of ‘talent’ first to gain a better insight into this confusion and lack of clarity. Here are some examples of some definitions that have been put forward in recent years: * ‘Talent’ is essentially a euphemism for ‘people’ (Lewis and Heckman, 2006:141) * The best and the brightest (McKinsey in Beechler and Woodward, 2009:274) * ‘Talent consists of those individuals...
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...Talent Development at PepsiCo PepsiCo is the world’s leader in convenient snacks, food and beverages. Founded in 1965 with a merger of Pepsi-Cola and Frito-Lay has delivered significant and consistent business growth over the past 40 years. Growth is the first component of PepsiCo’s corporate values statement and is the core of the business strategy. With sustainable competitive advantages and successful talent, management in developing leaders and employees contributes to the success of talent management. Known as being an “academy” company for its talent development that produces leaders with talent that go on to be successful in other Fortune 500 companies. Competitive Advantage PepsiCo’s competitive strategy is based on differentiation instead of cost leadership. To sustain growth at PepsiCo, three competitive advantages of innovative products, muscular brands and powerful go-to-markets are applied. Innovative products offers a solution to health and wellness concerns, allows PepsiCo an opportunity to be active in the community. The big muscular brands are PepsiCo Beverages, PepsiCo International, Frito-Lay, and Quake Foods products. A powerful go-to-market, well diverse set of distribution system of consumer products that provides considerable cost efficiency and system effectiveness in driving value. Additionally, the organization continues to invest in their employees through developing leaders, holding them accountable and reward them. Furthermore, the...
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...McDonald’s Case Study Valencia Westray-Miller HRM532 Talent Management 2 Bank of America's talent management program led to success for the company Bank of America's executive performance and retention strategy breaks down into the objectives set out in Figure 2.1 (Fisher and Congel, 2009, p. 22), 'attract, retain and develop great leaders.' This process occurs in distinct phases over the first 36 months of executive promotion but begins even before the new hire, if 'attracting great leaders' requires adequate compensation, with "clear and calibrated" (Fisher and Congel, p. 25) criteria screened by recruitment specialists. This includes more than business skill, extending to integration into the existing executive team as well as the total human resource silo the executive will ultimately oversee. This overall fit is assessed in order to prevent "derailment" (Fisher and Congel, 2009, p. 24) through conflict or loss of credibility at the head of a changing and challenging culture. Job development takes place prior to selection and incorporates the needs and objectives of the stakeholders who will depend on the new executive, presumably reducing the likelihood of revolt during and after transition and facilitating success before individual talent is even invited. Once these "critical roles" are defined...
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...TALENT MANAGEMENT AT GOVERNMENT -LINKED COMPANIES (GLCs) Transformation • Innovation • Partnership © August 2009 Malaysia Productivity Corporation Talent Management at Government Linked Companies (GLCs) Page 2 Table of Content Preface Introduction 3 4 Talent Management at Government-linked Companies (GLC) Transformation • Innovation • Partnership Talent Management and GLC defined 5 Insights on TNB (Tenaga Nasional Berhad) 8 Insights on MAS (Malaysia Airlines) Summary 11 15 Talent Management at Government Linked Companies (GLCs) Page 3 Preface In today’s global business environment, talent becomes the potentially powerful source of competitive advantage. Talent management is the fundamental building block to creating an organisation that is capable of learning, innovating and changing, as well as executing new processes. Finding, acquiring and retaining the right talent complemented by correct management and support are necessary for sustainable competitiveness. This research explores the aspects of talent management among Government-linked companies (GLC) in Malaysia. The Government’s Orange Book on Strengthening Leadership Development of December 2006 provides insights into the transformation processes of GLC in talent management. The Orange book sets out a framework to assess and strengthen company-wide leadership development through talent management. With these in mind, initiatives were taken to research talent management initiatives...
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...Talent Management Terry Meyer November 2005 ALL RIGHTS RESERVED COPYRIGHT Disclaimer Publication or other use of this document by any unauthorised person is strictly prohibited. The views expressed in this document are, unless otherwise stated, those of the author and not those of Fasset. THE CONTEXT OF TALENT MANAGEMENT As South Africa embarks on it’s journey into the second decade of democracy, few can argue that tremendous strides have been made on the political, economic, social and legislative fronts. Much of our legislation and policy directions are amongst the most progressive in the world. However, many challenges remain. One of these is the shortage of professional and managerial skills and the imbalances in terms of race and gender at these levels. Another, is the need to build a robust and entrepreneurial SMME sector which will create the jobs needed to absorb the unemployed in the economy. “Staffing is the new speed limit to growth. It is not the access to capital or technology that will constrain the growth of enterprises or the South African economy, but rather the lack of adequate skills to support organizational growth plans. The traditional channels of education and training are no longer providing skills in sufficient numbers nor are they necessarily aligned to organizational needs. Organizations must participate in the development of relevant skills if they are to survive.” (Italia Boninelli, HR Director: Netcare Group1) In a knowledge and service...
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...Talent management is quickly becoming a top preference for companies all over the world. (Bhatnagar 2008). The reasoning to this is due to the surge in rivalry between businesses to capture the talent that is available, we call this “the war for talent” (Beardwell and Thompson, 2014). Talent management refers to the best suited people or individuals to the occupation in question, sometimes assigned “A players”. In the past the disorganisation of talent management has led to the breakdown of large multinational companies, who rectify the problem by turning over more and more talent which inevitably makes the problem worse, causing it to fail and an overall sense of pain is inflicted upon the companies. (Cappelli, 2008). However nowadays companies are starting to realise that talent management is not a meaningless theory, as it was subjected to in the past, and that it is pivotal to company success. A new direction to talent management is developing incorporating the ambiguity that enterprises face today. Modern businesses deal with this uncertainty by implementing a supply chain management model to predict and satisfy demand. (Cappelli, 2008) In this project I will be examining the new venture of Cedar Park Furniture, a UK furniture retail chain that is preparing to enter the Irish market in 2017. My job is to produce a talent management strategy for the company and express the critical practices required to ensure its management team and employees commit considerably to the...
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...Robert Gordon University Aberdeen Business School Contemporary HRM 1007520 International Tourism Management Year 3 Submission deadline: 3rd May 2013 Lecturers Responsible: Allison Abbott and Kirstine Collins Module Number: BS2104 Word Count: 2179 Executive summary The subject of this report is the ‘war for talent’ phenomenon and its implication on talent management practices. Its first section presents the aim and objectives and the utilised methods of research. In the second chapter called ‘What is talent’, various definitions from different angles are provided for a better understanding of the main topic of the report. The third chapter analyses the ‘war for talent’ concept with both pro and con academic arguments. The fourth section defines talent management as a mandatory ‘toolkit’ to fight the war for talent. In the first subsection a few definitions and talent management approaches are explained. This section is followed by two consecutive ones which define and analyse the notions of performance, and potential in relation with talent management. The fifth and final chapter expands the ‘war for talent’ concept on a global scale with the two subsections discussing the influence of globalisation on the talent war followed by a case study of Poland’s talent management issues in the global ‘war for talent’. In the end a conclusion is drawn followed by afferent references consulted in order to create the report. Table of contents Front cover ...
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...performance management strategy. Southern Company is an electric utility company headquartered in Atlanta, GA. The company owns electric utilities in Alabama, Florida, Georgia, and Mississippi and services roughly 4.4 million customers. Southern Company also provides fiber optics and wireless communications. Southern Company brands are known for excellent customer service, high reliability and retail electric prices that are below the national average. Historically, Southern Company hired at the entry level and promoted individuals internally to fill leadership positions. The company typically had a very low turnover rate which resulted in an older and more tenured workforce. Over the years, Southern Company developed a group of leaders that possessed a profound level of business knowledge and aligned with the organization and culture. Southern Company hired a large number of people in the late 1970s and 1980s, so by 2003, most of those individuals that had remained with the company were beginning to retire. At Southern Company employees are eligible to retire at 50 years old, so many executives began to retire in large numbers, and their successors would also leave shortly after. Southern Company decided that it was time to review and revamp their succession planning and leadership development efforts to guarantee that they had a sustainable source of effective leaders to meet future business needs. According to Tucker, Kao and Verma (2005), Talent Management is defined...
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...Take the Pepsi Challenge Professor Marsh Strayer University Discuss how PepsiCo uses its talent to sustain a competitive advantage in the marketplace. PepsiCo sustain a competitive advantage in the marketplace through talent acquisition, talent management and development, PepsiCo University, and inclusive culture. Talent acquisition is defined as finding the right talent when needed and delivering a consistent candidate experience across the attraction, recruitment, hiring, and onboarding process. Talent management and development is building bench strength for key leadership positions and delivering talent development opportunities and capability for employee learning. Learning at PepsiCo’s University, individuals will have a broad accessibility in a learning environment at culture is described as shaping the PepsiCo culture and reinforcing the behaviors required to support the talent of the present and the future that reflects multicultural, multigenerational, and global needs. (Church, 2010) PepsiCo’s approach on talent acquisition is mainly driven by their philosophy on talent management. They look for and acquire talent based on the potential of growth within the company, for that particular individual; grooming its employees to take on more advanced and functional roles within the company. PepsiCo prides itself on having a “bench”. The bench being more than one person to fill that particular role/ position as it becomes available, or as the company needs it to be...
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...echnical specialists in a technical career EMELIE BAEDECKE YLLNER ALEXANDRA BRUNILA Master of Science Thesis Stockholm, Sweden 2013 i Talent management – Retaining and managing technical specialists in a technical career Emelie Baedecke Yllner Alexandra Brunila Master of Science Thesis ME200X 2013:31 KTH Industrial Engineering and Management Industrial Management SE-100 44 STOCKHOLM ii iii Master of Science Thesis INDEK 2013:31 Talent management – Retaining and managing technical specialists in a technical career Emelie Baedecke Yllner Alexandra Brunila Approved 2013-05-30 Examiner Kristina Nyström Supervisor Martin Vendel Commissioner Anonymous Contact person Anonymous Abstract The purpose of this thesis is to investigate talent management and how companies should work with talent management in order to retain and manage technical specialists in a technical career. Talent management is found to be important for modern organizations because of the advent of the knowledge economy, new generations entering the workforce and the need for businesses to become more strategic and competitive, which implies new ways of managing human capital. Furthermore, talent management is motivated by the fact that it has been found to lead to higher corporate profits when it is connected to the corporate strategy. The research method in this thesis is qualitative, and based on a case study of an organization in Norway active in the oil and gas industry, where qualitative semi-structured interviews...
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...with over $8 billion in annual revenue in 2005. As the world’s largest direct seller, the company marketed to women in 143 countries via five (5) million independent Avon Sales Representatives. Avon product lines included numerous popular brand names, and an extensive line of costume jewelry and clothing. Although revenues increased in 2003, 2004 and 2005, Avon’s net income was $848 million in 2005. The company met with stiff competition in the US market from other cosmetic companies. In order to maintain its market share in the US while targeting other countries, especially China, the company drastically changed its global operating structure. This brought senior management closer to its key business geographies, strengthened global integration, accelerated information flow and positioned the company for sustainable growth. Avon expected to incur costs to implement these initiatives over the next several years, with a significant portion of the total costs to be incurred during 2006. Benefits from restructuring helped to fund a notable increase in consumer investment and improved the competitiveness of its direct selling opportunity. Additionally, the company increased investment in advertising, marketing intelligence, consumer research and product innovation. The cosmetics mogul has grown from revenues of $8 billion in 2005 to nearly $11 billion in projected 2009 revenues while delivering strong single-digit earnings growth. The company projected achievement of annualized savings...
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...STRATEGIC HUMAN RESOURCE MANAGEMENT CLASS NOTES/WORK The Strategic Approach to Employee Resourcing (Adapted from Armstrong, 2006) Definition The objective of HRM resourcing strategies is ‘To obtain the right basic material in the form of a workforce endowed with the appropriate qualities, skills, knowledgeand potential for future training. The selection and recruitment of workers best suited to meeting the needs of the organization ought to form a core activity uponwhich most other HRM policies geared towards development and motivation couldbe built.’ Keep (1989)Resourcing strategy ‘ is concerned with obtaining and keeping the number andquality of staff required and with selecting and promoting people who ‘fit’ the culture and the strategic requirements of the organization ’ Armstrong The aim of the resource based strategy is to ensure that a firm achievescompetitive advantage by employing more capable people than its rivals. Thesepeople will have a wider and deeper range of skills and will behave in ways that will maximize their contribution. Armstrong How the organization attracts and retains the right employees 1. By being the employer of choice2. By providing them better opportunities and rewards than competitors3. By developing a positive psychological contract which increases commitment and creates mutual trust 4. By deploying the resources in ways that maximize the intellectual capitalthey provide. Strategic HRM approach to resourcing The...
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...|BUSINESS |[pic] | ASSIGNMENT FRONT SHEET |Student Name: | |Certification : I certify that the whole of this work is the result of my individual effort and that all quotations from books, periodicals etc. | |have been acknowledged. | |Student Signature: |Date: | |Student Registration Number: | |Student email address : | |Programme :MBA |Year/Level : | |Academic Year : 20012/13 |Semester : 1 | |Module title : People Resourcing |Assignment...
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