International Human Resource Management - Coursework Example

Name: Tutor: Course: Date: University: International human resource management Introduction Talent management according to [Sim11]back in the 1865 was used to refer to the fields of sports, entertainment, early education and literature. The concept of talent management in business came about in the 1990s where a book titles “The war for talent” written by Mckinsey addressed the concept. [Axe01]. According to the article, the in the 1990s there was increased demand for talented workers was very high yet the employees who were talented were very limited. The small number of skilled employees resulted in a problem of shortage of the talents available. Over the past 20 years, efforts have been put in place to ensure the development of people management. The development management specifically aims at those individuals in the organization or companies who are important because they help in the strategic success of the firm are well taken care of and well managed. The development management on people involves both the domestic and international individuals. The development management strategy has been nicknamed as “talent management” and in the case of international label as “global talent management”. Many reports have been published, and research conducted focusing on the issue of talent management because of how important it has become of late. There have been many questions that have come about from the many reports published, for instance, the question of what talent management covers. Another issue typical is what are its objectives and to what extent will it spread either domestically or globally. There has risen a “war for talent” over the past few years because of the rapidly changing of the labor force market and the increased demand for work-life balance by employees.[Bee09]. In this situation, many businesses aim at developing, deploying and retaining of vital talents that they got for the success of their company. In order for enterprises to maintain successful operations, it is essential for them to understand all the capabilities needed. They also have to evaluate the potential talents required from each and every employee. A research undertaken by the Chartered Institute of Personnel and Development (CIPD), indicates that there exist many different approaches to talent management. The many approaches, however, do not give a clear way of implementing to all organizational contexts[Gar12]. Talent management There is no perfect explanation of talent management because it is considered as a complex task or responsibility that is strategic within the human resourcing activities. According to [Sta12]Human resource professionals and their clients should first understand talent management so that they can be able to analyze and define talent and their original background. Talent management requires the HR professionals and customers to think so as to determine the eligibility of the employees to be recruited talented. Another definition of talent is the skills, knowledge and cognitive abilities of an individual. The values and competencies that employees possess are of great importance in determining the extent to which a person is talented. A Learning and development survey according to [Sta12]only 20% of the participants were recorded to have a formal definition of talent management. However, 51% of the interviewees had no clear understanding or definition of talent management. Talent management can either be exclusive or inclusive. Exclusive type of talent management refers to those individuals that have talent ‘pools’. Such persons or employees are characterized by their abilities of performing and producing high-level outcomes. Any firm that operates with this type of talent management there must be a clear explanation of the characteristics that distinguishes a talented manager who is at times referred to as being exceptional. The manager is given the name unique because of the talent they have the ability to make tactical differences hence (Armbrüster 2006). Inclusive type of talent management is said to be a competitive necessity. Inclusivity methods vary from one organization to another. Some organization takes into considerations the technical experts, professional staff and the skills of the employees[Ile10]. Global Talent Management refers to the standard human resource department practices, responsibilities, and functions. The international perspective of world talent management is that there exists a connection between human resource management and the term global talent management. Global talent management viewed to be more concerned with the human resource planning techniques and identifying the needs of the employees and staffs. Moreover, it is termed to be more future-oriented since it is more concerned with the future capabilities of the employees [Vai12]. Challenges of talent management There exist many different challenges that influence talent management strategies, policies, and practices. These factors determine how an organization recruits, develops and retains a particular talent in the future. Some of the known challenges include: increase in the virtual workplace, differences in culture, age, race of the workforce, the growth of the global market and independent views on either lifestyle and career opportunities among the staff. Other challenges affecting talent management are such as demographic, legislative and social factors; these challenges are considered to be enormous in any organization. Talent management initiatives entirely depend upon the aspirations and preferences of the employees. In the UK, for instance, the current and the future new entrants to the labor market are contributing to the delay in the making of commitments to career and family life in the future years. The outcome of the delay will be an immense competition for talents. Also in the USA for the past 15 years there has been a steady decrease in the population size from 135 to 5%. While in Russia the government is making efforts to increase the birth rate by giving cash incentives to families. With the decline in population size, in the future the UK labor force will soon be filled with non-UK talent workforce. There also exists a rise in the competition for work internationally. The increase and expansions of the European Union are likely to result in the greater competition for employment. In USA and Russia also problems of attracting and acquiring sufficient talents are being experienced. Many employers are making adjustments to their HR practices so as to cope with different demographic factors. The changes are to ensure that there is a suitable and efficient method of searching and recruiting new talents, integrating and managing the firms’ cultural practices. According to the research conducted by the CIPD’s 2006 the outcomes indicated that 74% of the participants confessed that their organization did not have a dominant strategy for talent management. The results were backed up by another survey that was conducted with executive and senior managers from over 1500 different organizations. The outcomes of this study indicated that there was no systematic nor coordinated approach in both the private and the public sectors. Succession planning, a part of succession management only that succession planning involves one or more successors known as critical posts. However, there is no clear established link between talent management and succession planning. Succession planning only requires the top senior officials. HR and Management working together There exists a close relationship between the Human resource professionals and the management when it comes to the retaining, hiring, developing and recruiting of new talents. Human resources management is presently viewing talent management as a vital component in ensuring a successful business life. In order to meet the organizational goals, this practice was designed so as to improve the recruiting and developing processes so as to get the most skilled people. Human resource management helps to integrate talent administration in all areas of the company by addressing four issues. The factors that must be addressed include leadership development, recruitment, organizational strategy and performance management. The setting up of communication platform, where the goals and careers of individuals can be discussed, is a vital act in any organization. The communication platform to be set up is usually between the staff and the supervisors. The performance management system consists of all the necessary tools that are used in the setting up of standards of performance for each and every employee in the organization. The mode of recruiting employees has changed over the past few years. Nowadays recruitment is aimed at improving and the processes efficiency and automating for the best recruits suitable for the business. The incorporation of social networking in the hiring process has changed the recruiter’s mode of recruiting workers since they are seeking for the best way to utilize the new medium. In any firm the best talent management is considered to be the one that conforms to the strategic plan and the needs of the firm. The setting of goals and objectives in a business is a powerful strategy that helps clarify the job roles for each employee. Reward and recognition Rewards and recognition according to [Sha09]argue that these are the aspects and major elements of talent management. These two factors play a significant and very useful role in the attracting and retaining talented employees to any organization. The staffs will feel appreciated and motivated to continue with their good output and even try to do better than they do. Many researchers argue that rewards can be used a tool to attract and help retain a workforce and ensure a steady good performance [Ful11]. According to [Sha09] rewards are an important tool in the talent management practice. In many organizations, the priority key issues include recognition and rewards since with this tools it is an assurance of retaining and attracting talented employees [Kau10]. The Human Resources manager usually does recognition and reward after fully accessing the performance of each and every employee. The process of rewarding and recognition consist of the monetary rewards, and the non-monetary compensation.it is not consistently easy to develop and implement a reward and recognition program. Despite the fact rewards and recognition programs are aimed at retaining employees, when an employee feels dissatisfied with the reward they might leave the organization. In order to solve the problem of dissatisfaction among the talented employees, it is important to consider their values, beliefs, and their attitudes [Ins08]. According to the talented people in the company are the workers who perform best as compared to their colleagues. The talented employees according to [Bee091]also include those employees that display or exhibit high levels of potentials. However, there are several factors that may affect the performance of an employee, such as the reward and recognition. If the recognition and reward program is not well balanced, it may not motivate the employees otherwise it will demotivate the employees. Demotivation of the employees automatically results in undesirable outcomes such as poor performance and quitting of the unpleased employees. Conclusion It is evident from their work that researchers and academics are very much interested in the issue of global interest. The primary drive of this review was to identify the necessary themes of talent management that can help Human resource professionals understand what is accepted about the global talent management. There are many factors that influence global talent management. Some of these factors include the lack and shortage of talented workers, attitudes towards work, rapidly changing demographic factors and different country cultures. These factors determine and influence the need for and content of global talent management systems, which are the general HR policies that are mostly used for attracting and developing skills. Organizations should always encourage organizational commitment so as to gain a competitive advantage by winning talented employees. Organizational commitment is an essential element in talent management [Dee08]. A research was done by [Far10]; to proof the connection between talent management, and organizational commitment shows that talent management requires organizational commitment at all levels. The only way that an organization can efficiently retain its talented employees is by successfully associating people with the organization together [Tar10], Bibliography Armbrüster, Thomas. The economics and sociology of management consulting. Cambridge University Press, 2006. Beechler, Schon, and Ian C. Woodward. "The global “war for talent”." 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