IntroductionTalent management within organizations requires a successful strategic approach to recruit and retain qualified employees. For example, Starbucks is an organization that represents itself in a successful manner with its approach to talent management. It is important to recognize the strengths, weaknesses, opportunities, and threats (SWOT) that exist in talent management in order to accomplish the desired objectives. Starbucks provides effective tools for its employees to grow and thrive in the workplace setting.
Starbucks supports the objectives of strategic talent management in order to fulfill its mission and vision for the future (Silzer and Dowell, 2010). Therefore, the proposed questions to consider with a comprehensive SWOT analysis are as follows:
Strengths: 1) What is Starbucks’ level of commitment to its employees? 2) How does Starbucks support employee growth and advancement? 3) What strategies does Starbucks employ to retain its employees on a long-term basis? Weaknesses: 1) How does Starbucks perform against its competition? 2) Does Starbucks sustain its competitive advantage in hiring and training employees? 3) What could Starbucks do to improve its talent management strategy? Opportunities: 1) How can Starbucks improve training for its employees? 2) What can Starbucks do to improve its benefits for employees? (Murphy, 2008)? 3) How can Starbucks expand its management team from within to strengthen its talent pool? (Sullivan, 2010)
Threats: 1) What type of competition does Starbucks face in its talent-based strategy? 2) How does Starbucks perform in the current marketplace? 3) How can Starbucks recover from any stagnancy that exists within the firm?
Starbucks provides an important opportunity to expand its talent pool through strategy-based objectives that will encourage its continued recruitment of talented employees (Johnson, 2010. These efforts will demonstrate the influence that Starbucks has throughout the world and in supporting its ability to hire talented professionals for its many locations. Starbucks is synonymous with success and creativity; therefore employees must follow suit and establish their own level of success within the organization.
- Johnson, M. (2010). Honing a talent for retaining talent. Financial Executive, 26(5), 20-24.
- Murphy, C. (2008). 10 most admired for managing talent. CNN Money, retrieved from http://money.cnn.com/galleries/2008/fortune/0803/gallery.people_management.fortune/5.html
- Silzer, R., and Dowell, B.E. (2010). Strategy-driven talent management: a leadership imperative. San Francisco: Jossey-Bass.
- Sullivan, J. (2010). Where to work if you’re a talent management rock star. Retrieved from http://www.tlnt.com/2010/12/06/where-to-work-if-youre-a-talent-management-rock-star/