In any business set up, talent management has prove to be a key factor that determines both short term and long term goals and objectives of firms and institutions There are several issues relating to talent management that has proved crucial in a business environment as has been noted by scholars of management and human resource (Phillips & Gully, 2012). There exist many styles or tendency in the contemporary business environments focusing on talent management that touch on issues to do with leadership, change, talent, designs among others as it is further noted by professionals and scholars in business and administration. However, this paper describes the trend of accelerating organizational change that in turn determines talent management development (Seijts, 2006).
Recent researched data by business organizations to determine leading trends and fashion in talent management has revealed that out of the total number of people that gave their response, more than eighty five percent noted that change in the way organizations do business to match the current demand that embrace innovation, creativity and technology is among the most important trend in talent management in the business environment (Hellriegel & Slocum, 2009). Experts have pointed out that embracing change in organization set up and introducing new ways of production can determine if talent can be managed and retained. Human resource specialists have pointed out that in talent management, retention of good talent relevant to success of a business as well as succession in leadership and management will determine the long term success and achievement of a business entity.
Embracing change entails organization doing research on the current trend in business environment (that has proved to be fast- paced), and organizations have to adopt new ways of doing business. If organization will be reluctant to embrace change, it might create and increase the chance of losing talented and experienced employees to competitors or other organization. Experts noted that employees and workers prefer working in an environment that conforms to changing world in an ever changing dynamism.
In the United States (US) and in most developed countries of the world, many organizations have restructured and embraced lean and efficient teams in business organization that have produced great results in terms of development and expansion of such entities in revenue and production. Technology has been noted as a key factor that has facilitated change in organizations. It has reinforced efficiency, effectiveness and made management easy in that communication with the clients is improved, improves customer relationship as well as business partners such as financiers (French, 2011). Rebranding and reorganization by business entities in many parts of the world is on the increase and has led to such institutions attracting talented employees from other organization and it is proved that it also boosts stakeholder’s confidence. Such reorganization and related changes has been described as investments in the sense that it contributes to the long term achievement of a business entity.
With globalization concept being embraced in most parts of the world, it means that businesses face competition from almost all parts of the world and in a global village as it has been described by some has contributed greatly to business reorganizing and restructuring to meet the international standards so that they survive and become profitable. This concept has also encouraged expansion of businesses since markets have been expanded and increased. This too has resulted to an increase in organizational change to meet the increased demand. Also with the world opening up, a talented employee as it has been observed get recruited from all corners of the world and this means an increased demand for talented employees. This forces organizations to change so that they can retain their best and talented employees.
As a human resource professional, noting the increased demand for top talented employees brought about by various factors and stiff competition in the business world, I would come up with various initiatives that would attract top talented employees and retain them in the organization. Good wages and salary for talented employees, flexible working conditions, reorganizing to conform to current practice as well as encouraging innovation and technology will have to be implemented. As a human resource, I will convince management, board and all those responsible in making decisions to implement measures that would ensure success of the organization and retain top talent in human capital so that goals and objectives of the business institution can be realized.
In conclusion, human capital and talent in a business environment has proved to be an important part that a lot of emphasis must be placed to develop it. The present and future triumph of any business is determined by the aforementioned issue. Human resource professional have an immense responsibility to ensure that the discussed question is managed with a lot of professionalism and skills. Human capital is among the important factors in the process of production and businesses should try as much as possible to ensure its growth. Human capital should be seen as an investment.
References
Phillips, J., & Gully, S. M. (2012). Organizational behavior: Tools for success. Mason, OH: South-Western Cengage Learning.v
Seijts, G. H. (2006). Cases in organizational behavior. Thousand Oaks: Sage Publications.
Hellriegel, D., & Slocum, J. W. (2009). Organizational behavior. Mason, OH: South-Western Cengage Learning.
French, R. (2011). Organizational behaviour. Hoboken, N.J: Wiley.
