Talent Management in Global Firms

Talent Management in Global Firms
Tighter labor markets, economic uncertainty and globalization are key issues that will shape the workplace and the HR profession in coming years.  Other contemporary issues include ethics, Global practices, HR discipline, Labor relations and technology. Throughout past few years these challenges have grown.

The tight labor markets make HRM to work in different ways in seeking the best workforce for his or her organisation’s in some markets the conditions are worse than others. One of the ways that HRM professionals address labor issues strategically is by looking at talent management (which may be inclusive or exclusive practice to the company). One academic suggest that as labor market conditions improve and the need for skilled and educated workers rises around the world, organizations are finding it more difficult to attract the best employees. This makes it increasingly necessary for HR to help build a strong employer brand to enhance talent management processes within the firm. () Smart HR professionals are highlighting cultures that incorporate the fundamentals of a great place to work, including corporate social responsibility initiatives, strong worker safety and security measures, and an overarching atmosphere of civility and respect in the workplace. The tight competition for talent is also influencing compensation and benefits strategies, immigration policies, and global relocations. (Armstrong and Taylor, 2014) Even for firms such as Nestle’s it’s not easy to hire talent workers from other markets as there are visa and labor movement restrictions. Nevertheless, Nestle’s being a global firm may find it relative easy to mobilize an expert from another country to work in Sri Lanka to resolve specific issues in a short-term basis. But for other seeking talent can be often challenging and expensive.

An inclusive model of talent management simply suggest that all employees are part of the talent pool, however an exclusive suggest that 2-3% of the employees are highly talent individuals and their contribution to competitive is sustainable (Berger and Berger, 2006).

Hence SHRM practices and processes are necessary to successful attract talent to the organization. HRM’s therefore implement various processes such as employer branding, and implement programs with cultures that suggest the firm is a great place to work In Sri Lanka the LMD in partnership Ceylon chamber of commerce annual publish the “Best Place to Work”. (Great place to work, 2017).








References
Armstrong, M and Taylor, S., (2014) A hand Book of Human Resource Management Practice. Kogan Page, UK.
Berger, L, A., and Berger., D, R., (2006) The Talent Management Handbook- Creating a Sustainable Competitive Advantage by Selecting, Developing, and Promoting the Best People. Mcgraw Hill, USA 

Great Place to Wok (2017) (http://www.greatplacetowork.lk/best-companies/sri-lankas-best-companies-to-work-for) accessed on 2nd Nov 2017 at 10.07 am 

Comments

  1. UnknownNovember 24, 2017 at 10:34 PM

    Interesting essay. Well done

    ReplyDelete
  2. UnknownNovember 26, 2017 at 11:02 PM

    This is a well planed and thought after essay, excellent, referencing is very good and the reading material used in this essay is excellent

    ReplyDelete

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