Talent Management: Myth or Reality in today's SME's

Topics: Human resource management, Management, Human resources Pages: 42 (10133 words) Published: September 23, 2013
TALENT MANAGEMENT: Myth or Reality in
Today’s SMEs?
A study into the importance and use of talent management within small and medium-sized enterprises

Daiva Baublyte

Being an Individual Research Project presented in part requirement for International Business and Management Studies, Hogeschool INHolland, School of Economics, Amsterdam/Diemen, The Netherlands, and European Business Administration studies, Metropolia University of Applied Sciences, Vantaa, Finland.

25 May, 2010

Under supervision of Brian Downey

This work or any part thereof has not previously been presented in any form to the Hogeschool INHolland, or Metropolia University of Applied Sciences, or to any other institutional body whether for assessment or other purposes. Save for any express acknowledgements, references and/or bibliographies cited in the work, I confirm that the intellectual content is the result of my own efforts and no other person. Signed: Daiva Baublyte

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25 May, 2010

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Acknowledgements
I would like to thank my supervisor Brian Downey for guidance and direction while writing this dissertation paper. Also I want to express gratitude to Michael Keaney for getting me started and helping through the toughest starting process, and Marcelo Tyszler for brainstorming ideas for the topic and research question. And last but not least, the teachers of Metropolia University of Applied Sciences and Hogeschool INHolland for the knowledge they gave me.

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Table of Contents
Acknowledgements ...............................................................................................................ii Visual aids ............................................................................................................................. v Executive Summary.............................................................................................................. vi Explanations of terms and abbreviations .............................................................................. ix 1.

Introduction .................................................................................................................... 1

2.

Methodology .................................................................................................................. 4

3.

Limitations ..................................................................................................................... 5

4.

Theoretical Background ................................................................................................. 6 3.1

Definition: SMEs .................................................................................................... 6

3.2

Definition: Talent .................................................................................................... 7

3.3

Definition and theoretical background: Talent management .................................. 7

5.

Purpose of talent management ..................................................................................... 13

6.

Key issues in talent management ................................................................................. 16 5.1

Formal vs. informal talent management ............................................................... 16

5.2

Human Resource-Based theory of SMEs ............................................................. 20

5.3

Integrated talent management ............................................................................... 22

5.4

Employee Value Proposition ................................................................................ 23

5.5

Management experience ....................................................................................... 24

5.6

Trust in employees ................................................................................................ 27

5.7

Talent management as an expense...

References: Armstrong, M. (2006) “A Handbook of Human Resource Management Practice”,
“Chapter 26 - Talent Management”, London: Kogan Page Limited: pp.389-408
*Devins, D. & Johnson, S. (2002) “Engaging SME managers and employees in training:
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*Keogh, W. & Stewart, V. (2001) “Identifying the skill requirements of the workforce in
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EIM Small Business Research and Consultancy, Zoetermeer, last accessed 14.05.2010
Blass, E. (2007) “Talent Management: Maximising Talent for Business Performance”,
Chartered Management Institute and Ashridge Consulting, last accessed 14.05.2010
41
Dearlove & Crainer (2009) “Keeping top talent in a down economy”, Management
European Commission (2005) “The New SME Definition: User Guide and Model
Declaration”, Enterprise and Industry Publications, last accessed 13 May 2010
http://ec.europa.eu/enterprise/policies/sme/files/sme_definition/sme_user_guide_en.pdf
European Commission (2007) “Observatory of European SMEs”, Flash EB Series #196 –
Hale, J., De Young, P. & Moreau, J.L. (2009) “Workforce Planning Improves
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*Hathaway, C. (2008) “The power of integrated reward and talent management. 20082009 Global strategic rewards report and EMEA findings”, Watson Wyatt Worldwide,
last accessed 14.05.2010
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*Unknown author (2009) “Effect of the Economic Crisis on HR Programs”, Watson
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