It has become essential for companies to maintain their competitive edge, especially in today’s rough economic times and diverse workplaces. On the other hand, how do companies remain competitive with shrinking budgets and shrinking workforces in a constant state of flux? One of the most important components of a successful company is their human capital or put in plain words; their employees. Human capital is defined as “the collective value of the capabilities, knowledge, skills, life experiences and motivation of an organizational workforce” (Mathis & Jackson, 2011). Every individual person has different characteristics and traits that can be brought to the organization. It does not matter if they have been with the company for 20 years or just graduating from college and beginning their careers. The key is to find the strengths and weaknesses of each person and capitalize on them. This is where managing human resources fits nicely into organizational goals and objectives. Nevertheless, how do companies acquire and retain their best and brightest employees? Careful analysis will show that one important way is through the pursuit of talent management programs in the workplace.
In Pursuit of Talent Management
What is talent management? Talent management is one of the core competencies of human resource management and entails attracting, selecting, nurturing, promoting and retaining employees among the organization. Talent management consists of acquiring the right people, developing them for the right job; at the right time. The future of the company depends on taking the necessary steps to achieve the organizational goals or the desired end results of the company. Accordingly, this is accomplished through...
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... properly and reviewed continuously. In the years to come talent management plans will become prevalent in the work environment. It is imperative for human resource managers to remember a happy employee makes the best employee and creates euphoria in the workplace. The company will reap the benefits and rewards with adept employees who are satisfied with their jobs. The end result will lead to customer satisfaction and higher profits.
Fulmer, R. (2002). Choose tomorrow’s leaders today. Graziadio Business Review, 5(1), Retrieved from http://gbr.pepperdine.edu/2010/08/choose-tomorrows-leaders-today/
Je-yup, K. (2011, October 9). Korea times. Retrieved from http://www.koreatimes.co.kr/www/news/bizfocus/2011/10/330_96348.html
Mathis, O. L., & Jackson, J. H. (2011). Human resource management. (13th ed., pp. 282-315). Mason, OH: South-Western Pub.
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