TALENT MANAGEMENT

Talent Management in Global firms

Talent management is the process of ensuring that the organization has the talented people if needs to attain its business goals if involve the strategic management of the flow of talent through an organization by creating and maintaining a talent pipe line. (Armstrong hand book of human resource management practice, 2004)

Talent management as the goal oriented and integrated process of planning, recruiting, developing, managing and compensating employees. (Desseler human resources management, 13th edt.102p)

The South African motor industry is evolving through challenging times, placing tremendous pressure on Toyota SA motors to remain efficient and competitive.

The organization has identified human capital as one of its most valuable resources contributing to the achievement of this goal. It is therefore imperative that the organization implements a strategic talent management policy that would focus on retaining talented staff members and created a competitive advantage. The objective of the study was to examine the effectiveness of talent management as a retention tool with the aim of determine the employee perception and factors influencing competitive advantages of talent management and to provide recommendations to Toyota on the importance of strategic implementations of talent in order to increase staff retention and improve competitiveness.

This was to be achieved through the breakdown and analysis of the relevant components of talent management along theory comparison and the aid of quantitative research the objective was achieved by sampling two hundred employees of Toyota. The empirial studies revealed that the perceptions of the employees were misaligned with international best practices particularly in terms of the identification of talented employees. Overall there was consensus that a strategic talent management policy would greatly benefit the organization to archive its business objective. A large percentage of respondents believed that talent management is very important to Toyota.It was found that the majority of respondents believed that in order to improve the talent pool it was vital to develop individual career paths for all employees. The results reveal that a key factor for employee retention was better developmental opportunities. It was recommended that Toyota South Africa should nurture existing talent and policy in order to attract and retain the best talent.

Conclusion

These global talent challenges arise due to the ever-changing characteristic of the environment. Possible HR actions that can be used to build an integrated and flexible system for global talent management and described some of the barriers to success in this endeavor.

References

Armstrong’s hand book of human resource management practice, 2004

Desseler,human resource management.13^th edt,102p

http://handle.net/10413/14040

https://researchspace.ukzn.ec.zq