Talent Management

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UNIVERSITI TEKNOLOGI MARA
KAMPUS BANDARaya MELAKA

EXECUTIVE MBA PART 1 – 2010/2011
human resource MANAGEment
(hrm730)

GROUP ASSIGNMENT : TALENT MANAGEMENT

PREPARED FOR :
DR NOOR AZAM ABD AZIZ

PREPARED BY:
NORZARMILA AZURA ABD.HAMID(2010731695)
AHMAD IBRAHIM DAUD(2010579621)
MAHFUZA JAMALUDDIN(2010950977)

Acknowledgements

It has been a challenge to complete this assignment, but also a worthwhile experience, and this work was possible because of the support, patience and assistance of several individuals. We wish to express our sincere gratitude to all those who have helped us.

Our heartiest thanks to Dr Noor Azam Abd.Aziz, our HRM lecturer – who has opened our eyes to see things through different angles, practice radical and critical thinking facing the day to day issues at work and promote learning to build the learning organization. Thanks also to all the very inspiring mentors and fellow students of the Executive MBA, UiTM Bandaraya Melaka.

Also thanks to our workplace Petronas Gas, Kolej Risda and Kolej Profesional MARA Bandar Melaka for invaluable help.

Finally, We wish to extend our special gratitude to our families for their continued support.

Norzarmila Azura Abd.Hamid
Ahmad Ibrahim Daud
Mahfuza Jamaluddin

TALENT MANAGEMENT : FACTORS AFFECTING TALENT MANAGEMENT

ABSTRACT

The paper will reveal the definitions about talent, talent management and discuss factors affecting the talent management including the employee competencies and working environment. This paper finally concluded that according to experts, talent management is a vital factor towards organizational success. Choosing the right talent with the right competencies and providing the conducive working environment will lead to organization effectiveness.

1.0INTRODUCTION

Since a group of McKinsey consultants coined the phrase The War for Talent in the late 1990s, the topic of talent management has become one of the hottest issues for management academics, consultants and practitioners alike (Colling, D.G et al.). Talent is considered the most critical source of success in an organization. Thus, talent management is fundamentally about ensuring that the right people are positioned in the right places and utilized to the fullest potential for optimal success of the organization.

Top business leaders clearly understand their talent pools. For most companies, the total cost of human capital is the single biggest expense line in the income statement (Echols, 2008). Organizations know that they must have the best talent in order to succeed in the hypercompetitive and increasingly complex global economy . Along with the understanding of the need to hire, develop, and retain talented people, organizations are aware that they must manage talent as a critical resource to achieve the best possible results.( Wellins, R.S., Smith, A.B., & Erker, S., 2010). They work hard to identify the key players who have critical relationships with customers and suppliers, and then work even harder to nurture and keep those key resources.

A number of business leaders have asserted that coming up with the best talent for their companies is the most important task they have to perform. Some, like former GE Chairman Jack Welch and Honeywell International’s Larry Bossidy, spent a significant amount of time searching for the best talent within their own employee pools, hoping to build leadership that way. Both Welch and Bossidy have frequently said that all the great strategies in the world will have little effect on a company unless the right people are chosen to execute those strategies. Steve Miller, the most successful turnaround CEO, clearly connects talent and execution. This master of execution rescued Federal-Modul, Waste Management, Reliance Group, Aetna, Bethlehem Steel, and Delphi, among others. One of his first tasks as a new CEO was to find the critical talent who could exercise the...
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