Talent Management Strategy

Talent Management Strategy

The corporate world in the current era is full with challenges, innovation and competition and the business organizations are required to be resilient and flexible to cope up with them. In order to meet all such challenges, these organizations tend to maintain and retain their human resource in an efficient manner. They utilize the employees in such a way that they are able to meet their goals and objectives efficiently. The current paper discusses an efficient talent management strategy in Unilever and elaborates upon its component and applications.

Talent Management

The concept of talent management pertains to the expectations of the required human capital that the organization requires at a certain time and then planning to fulfill these needs and wants. The talent management approach refers to the science of utilizing the strategic human resource for the purpose of improving the value of business and for making it possible for the organizations and companies to accomplish their benchmarks and goals (Carpenter, Mason, Talya, and Berrin, 2000).All that is undertaken to retain, recruit, reward, develop, and enabling the employees to perform and be productive is the part of the Talent Management strategy and the strategic workforce planning. Therefore, it is essential that a talent management strategy is connected to the organization's business strategy in order to render it sensible.

The human resource in an organization is the basic foundation of the talent management strategy. Human resources refer to the group of individuals or employees that establish the workforce within a business sector, organization, or in an economy. It is sometimes called the "Human capital" which pertains to the knowledge that is possessed by the individuals and can be contributed within the organization in a positive manner (Elwood, James, 1996). There are various components of the talent management system that are necessary for the organization in order to build its own talent management framework for obtaining sustainably good results. All these components are established in both dynamic and structural aspects and they interact with each other in a systematic manner. This is done so the organization may have such an environment in which the employees are able to perform prove to be the incubators of the strategic capability of organization with the help of such factors as technology (Schein, Edgar, 1997). The integrated framework of the talent management strategy along with components is as follows:

Figure: Integrated talent management framework

The figure provided above depicts a simplified integrated framework of the talent management. When looking at the structure from left to right, there is a clear line of sight must be created and maintained between the various components. It is essential to establish the goals and strategy of the business and keep them in sight in a firm way, and the process of talent manages and the people strategy needs to be introduced and kept attuned o one another. The processes, structure, and organizational procedures along with their colure, values, and climate, are required to assist both the present situation of ...