Talent Management is increasingly becoming and essential facet to any organization’s future success and bottom line. In order to achieve success amid a volatile market filled with uncertainties that are sure to cause drastic effects on the business cycle, it is pivotal to organization success that management attracts, develops and retains the best talent that is available in the market (King, 2010). This will provide the organization with the necessary competitive edge to remain relevant in the market.
Organization strategies are essential in allowing the organization to assess its current state with regard to relevance to the market, its performance with regard to the intended or aimed organizational goals and targets and developing a plan on how to go about achieving the intended goals and targets while considering its current position (Silzer & Dowell, 2010). In order to achieve an effective and efficient organization strategy, it is essential that the organization has the right individuals, employees, to steer the organization towards the intended direction.
When talent management is incorporated into the organizational strategy, the organization is able to realize the following advantages.
By employing, developing and retaining the best talent that is available the organization realizes increase in employee and general organization efficiency (Raedy & Conger, 2007). This is because all the employees and well equipped with the knowledge and skills required to complete tasks with minimal difficulty. The organization is also able to remain competitive in the market as efficiency translates to reduce costs and expenses in the production process of any given goods and/or services.
The organization remains relevant through the increase in innovation that high quality talented employees bring to the table (Raedy & Conger, 2007). This allows for the organization to always be up to breast with the prevailing market needs and be able to predict and foresee future market trends.
In conclusion, through incorporating talent management in the organization strategy, the organization stays competitive, relevant and ensure efficiency within its operations while staying on course with its goals and objectives.
- Johnson, M. (2010). Honing a talent for retaining talent. Financial Executive, 26(5), 20-24. King, J. (2010). IT Careers 2020. Computerworld, 44(16), 14-19.
- Raedy, D. A., & Conger, J. A. (2007). Make your company a talent factory. Harvard Business Review, 85(6), 68-77.
- Silzer, R., & Dowell, B. E. (2010). Strategy-driven talent management: A leadership imperative. San Francisco: Jossey-Bass.