Talent Management - summary Emma Hamm, 2078889
Talent Management - summary
, Talent Management - summary Emma Hamm, 2078889
TABLE OF CONTENTS
1. Introduction 2
2. What is talent? 3
3. Talent assessment 4
4. TM strategy 5
5. Outcomes of TM 6
6. Ethics of TM 7
7. TM and cultural contexts 8
8. Wrap-up + exam preparation 9
1
, Talent Management - summary Emma Hamm, 2078889
1. Introduction
THE WAR FOR TALENT
There is a limited talent pool, for which all companies must fight.
BACKGROUND OF THE WAR OF TALENT
● Economic upturn calls for more personnel
● Declining supply of talent in Western economies, due to demographic changes
(higher average age)
● Increasing market and business complexity, requiring more sophisticated talent (to
manage less top-down structured organizations)
● Competition of small and medium-sized companies, as smaller companies can offer
things that larger companies cannot offer, such as personalized approaches
● Increasing job mobility increases the need for retention
HOW TO WIN THE WAR FOR TALENT
● Build a talent mindset:
AON has a chief HR manager that often talks with the C suite to put talent
management on the agenda throughout the whole company
● Create a superior employee value proposition:
Hilton makes it attractive for employees to work for them, by offering something
unique. The employee rooms are as luxurious as the guest rooms. They also offer
education opportunities to employees
● Create a strong brand image:
Tony’s and BMW have a clear brand image. Because they are so well known, many
people want to work for them
● Great talent sourcing strategy:
Adobe and BCG support students during their study and sometimes paying for
student debts
● Talent development:
Unilever entrusts new employees with a lot of responsibilities and offers a job rotation
program
WAR FOR TALENT - HAS THIS CHANGED?
As more individual tasks become automatable, jobs are being redefined, re-categorised and
revalued.
- Economic upturn still present, but not as strong
- Aging workforce will become even more of an issue
- CEOs are more worried about the availability of key skills than a couple of years ago
- Exceptional skills and leadership will be needed in order for people and machines to
work together
Traditional employment relationship: lifelong employment in exchange for loyalty is
outdated
→ New employment relationships require a challenging job, good compensation and
opportunities to learn in exchange for job performance of employees
2
, Talent Management - summary Emma Hamm, 2078889
→ allows for a lot of flexibility for both parties
→ makes attracting and retaining valuable people crucial
SO, WAR FOR TALENT VERY MUCH STILL APPLICABLE, BUT SOME CRITICAL
REMARKS
- Focus on US companies, some translation to other countries may be required
- Focus on key positions, mainly leadership, other layers of the organization may also
be important
- Talent is scarce/highly exclusive in the theory, but one could also think that everyone
can develop certain talents (inclusive talent management)
- Focus on superior compensation (money) and attracting employees, huge
differences in CEO salaries are mainly in the US
- Managing poor performers should be done by getting rid of them according to the
theory, but there are other solutions (ethics of talent management)
- Managing talent beyond organizational boundaries: The gig-economy (flex workers)
is not really considered
3
Talent Management - summary
, Talent Management - summary Emma Hamm, 2078889
TABLE OF CONTENTS
1. Introduction 2
2. What is talent? 3
3. Talent assessment 4
4. TM strategy 5
5. Outcomes of TM 6
6. Ethics of TM 7
7. TM and cultural contexts 8
8. Wrap-up + exam preparation 9
1
, Talent Management - summary Emma Hamm, 2078889
1. Introduction
THE WAR FOR TALENT
There is a limited talent pool, for which all companies must fight.
BACKGROUND OF THE WAR OF TALENT
● Economic upturn calls for more personnel
● Declining supply of talent in Western economies, due to demographic changes
(higher average age)
● Increasing market and business complexity, requiring more sophisticated talent (to
manage less top-down structured organizations)
● Competition of small and medium-sized companies, as smaller companies can offer
things that larger companies cannot offer, such as personalized approaches
● Increasing job mobility increases the need for retention
HOW TO WIN THE WAR FOR TALENT
● Build a talent mindset:
AON has a chief HR manager that often talks with the C suite to put talent
management on the agenda throughout the whole company
● Create a superior employee value proposition:
Hilton makes it attractive for employees to work for them, by offering something
unique. The employee rooms are as luxurious as the guest rooms. They also offer
education opportunities to employees
● Create a strong brand image:
Tony’s and BMW have a clear brand image. Because they are so well known, many
people want to work for them
● Great talent sourcing strategy:
Adobe and BCG support students during their study and sometimes paying for
student debts
● Talent development:
Unilever entrusts new employees with a lot of responsibilities and offers a job rotation
program
WAR FOR TALENT - HAS THIS CHANGED?
As more individual tasks become automatable, jobs are being redefined, re-categorised and
revalued.
- Economic upturn still present, but not as strong
- Aging workforce will become even more of an issue
- CEOs are more worried about the availability of key skills than a couple of years ago
- Exceptional skills and leadership will be needed in order for people and machines to
work together
Traditional employment relationship: lifelong employment in exchange for loyalty is
outdated
→ New employment relationships require a challenging job, good compensation and
opportunities to learn in exchange for job performance of employees
2
, Talent Management - summary Emma Hamm, 2078889
→ allows for a lot of flexibility for both parties
→ makes attracting and retaining valuable people crucial
SO, WAR FOR TALENT VERY MUCH STILL APPLICABLE, BUT SOME CRITICAL
REMARKS
- Focus on US companies, some translation to other countries may be required
- Focus on key positions, mainly leadership, other layers of the organization may also
be important
- Talent is scarce/highly exclusive in the theory, but one could also think that everyone
can develop certain talents (inclusive talent management)
- Focus on superior compensation (money) and attracting employees, huge
differences in CEO salaries are mainly in the US
- Managing poor performers should be done by getting rid of them according to the
theory, but there are other solutions (ethics of talent management)
- Managing talent beyond organizational boundaries: The gig-economy (flex workers)
is not really considered
3
