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Talent Management in the Workplace

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Submitted By angela99
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Talent management is becoming more, not less important in the workplace despite the economic conditions, and organisations are directing resources more effectively to retaining and developing existing talent within the company. (PersonnelToday, 2009) This essay will look at the design and implementation of a talent management strategy for a SME. The company has a high labour turnover, the essay will consider the strategies and theories related to talent management, examples and a business case for a talent management strategy.“Talent management is the systematic attraction, identification, development, engagement, retention and deployment of those individuals who are of particular value to an organisation, either in view of their high potential for the future or because they are fulfilling business/operation critical roles”.(CIPD, 2012). This strategy aims to develop plans that attract high quality external candidates as well as the identifying and retention of the internal workforce, getting the optimum balance between external and internal candidates is difficult, some firms prefer to use their existing workforce as this helps drive individuals to increase their skills and increases work satisfaction, however concentrating on a narrow internal group of candidates alienates the possibility of high calibre external candidates who can inject new ideas into the organisation.(Beardwell & Claydon, 2010). The Company needs to have a clear talent management strategies and recognise its strategic importance to the organisation whilst acknowledging the difficulties of talent management in a world of different expectations by employees. Employees and employers no longer expect jobs will be for life and the younger Generation Y workers expect to change jobs more frequently to enhance their careers. (Hautem, Andres, 2010). Generation Y employees, (people born after 1978) are

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