PROJECT MANAGEMENT

Project Management



Project Management

Introduction

Talent Management often focuses on retention of employees as a critical success factor for organizations. A key reason for this is that even if all steps in the recruiting, acquisition, hiring and development process are executed flawlessly, the company is still at risk of losing an employee so carefully chosen and groomed. Conservative estimates of turnover costs cite a minimum of one to one and a half times an employee's annual salary. Given the criticality of retention, most companies still operate under the traditional notion that lifetime employment is the ultimate retention goal. However, limited tenure of employees across organizations leads to the question of whether or not current views of retention are still valid. To date, limited work has been done to understand those employees who leave an organization and how to recapture their value. Talent management is a concept that has long been in practice, but in more recent years has been labeled as a strategic business initiative for focus among Human Resource (HR) communities and organizations at large. In fact, much of the literature cites integrated talent management as a key for organizational success, presenting a myriad of models, frameworks and best practices for consideration. Further, recent publications stress that a targeted talent strategy can be one of the most critical levers that drives a company's achievement.

Discussion

A modern trend in the discourse of companies believes that human talent is the key to future growth and development of business. This trend begins to differentiate the terms human resource and talent, saying that when we use the term Human Resources is cataloging the person as an instrument, without considering that this is the principal, which possess skills and characteristics that give it life, movement and action to any organization, so from now on be referred to as talent. According to this philosophy, companies have begun to realize that it takes much time and effort, select and train staff to achieve effective work teams and highly competitive, which consider the human talent as their most valuable asset. Given this fact, the most important task facing the organization is to develop ways of managing this human capital. Several trends are concerned to propose models of Human Resource Management. One is competence management tool that explores the development and involvement of human capital, since it helps to raise a level of excellence the powers of each of the individuals involved in the company to do (Appelbaum, 2011, 585). Human capital is the greatest asset available to a modern production organization. To meet the challenges of a complex environment variable, and to achieve the objectives of competitiveness and improvement of production, firms have to mobilize its human resources management techniques renewing and management.  In this sense, then points out that communication is another vital key to proper management of human capital in enterprises. In this regard says, successful experiences have shown that the communication is one of the main tools to support this process of renewal which shows that internal communication has a dual purpose ...