Organizational strength has been believed to be depended on the on the shoulder of its employees as they are recognized as the most important and valuable assets in organization. This could be due to the current trend on intangible assets such as brand names, innovation, creativity and entrepreneurship, the arena of today cater to company that can produce the potential of their key resources (Schweyer, 2004) as this will formulate them to be defined as outstanding. Concerns about locating, attracting, assessing and sustaining top talents in all markets have been increasing rapidly. To be really successful it is not only important for the organization to find the right people on the right position but they should identify the superior performers for every position (Hoogheimstra, 1992). Moreover in reality it is argued that the vision and strategy of a company are important as the people that eventually will drive the company into the future (Collins, 2001).
Human Resource Management (HRM) which has been present for a long time is defined as a process of dealing with the people in organizations towards achieving individuals’ and organizational goal. The functions of HRM comprising not only the process of hiring the right people for the organization but it also include a strategic approach towards sustaining and developing them towards being competitive. Originally HRM or personnel administration was considered only as an administrative matter of salaries and costs, (Michaels et.al, 2006) and measurements were only employee turnover, absenteeism and similar measurements (Phillips, 2005). However, in a current trend HRM is more prioritized towards building a company’s competitive advantage through strategic use of cultural, structural and personnel techniques to develop competent and committed employees. The idea of emphasizing people as one the major aspects for organizations’ survival and prosperity created a need for a framework that can deal... [continues]
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