TALENT MANAGEMENT IN RECESSION
Talent management is an idea that has been around for a long time. It’s been re-labelled, and that enables wise organization to review what they are doing. It integrates some old ideas and gives them a-freshness, and that is good (David Guest p. 29, 2006). This idea has many sides to it with key interest of practitioners and scholars finding a concrete definition about it. The interest of academicians has been profound in the area of Talent and Talent Management (TM) which has been of long history. However, Talent Management came into lime-light in the late 1990s after a quarterly survey was conducted by a consultant group which was published and title The War for Talent (Scullion & Collings, 2011). The research highlighted the importance of top performers (talents) to fill key areas in the organization. This literature focuses on reviewing and evaluating the term “talent management in the light of recession” as there has been countless of publications on talent management with many authors, writers, scholars and employers of labour have different view of the word “talent management”. Furthermore, the literature examines researches on talent management in recession, and the key issues identified by various researchers on how talent management in recession. This literature pointed out limitation in definition of talent management, and concluded on the strategies adopted by organization on talent management in recession.
Definition of Talent Management
This literature review will be considering what the meaning of talent management before discussing it in the light of recession. Duttagupta’s, R., (2005) view talent management as the strategic management of the flow of talent through an organization. Its purpose is to ensure that a supply of talent is available to align the right people with the right jobs at the right time based on business objectives. The phrase ‘talent management’ has many sides to it, according to Armstrong (2006) he defines ‘talent management as the use of an integrated set of activities to ensure that the organization attracts, retains, motivates and develops the talented people it needs now and in the future. The aim is to secure the flow of talent, bearing in mind that talent is a major corporate resource’ (Beardwell & Claydon, 2010, p.162). This implies that organization needs to ensure the right person is in the right job at the right time (Jackson & Schuler, 1990, p. 235), the effectiveness of any organization in achieving its business goals and objectives lies with having the right employees who will drive the organization in achieving the business goals. This was also corroborated by Pascal (2004) who defines it as the managing the supply, demand, and flow of talent through the human capital engine. Creelman (2004) assert that talent management is a perspective or a mindset; it should not be seen as a topic. He further stressed that a talent management perspective presumes talented individuals play a central role in the success of the firm. As you can see from the above there is no clear cut definition to the talent management as a word. In a bid to clear the confusion with the definition of talent management between scholars and practitioners, Lewis & Heckman (2006) presented a different perspective which goes thus; first talent management is described as a collection of human resource activities which are recruiting, selection, development, and career and succession management; the second perspective focus on talent management on the concept of talent pools; this is considered as succession planning or human resource planning; and lastly the third perspective according to Lewis & Heckman (2006) is talent generically, the focus is on a relatively small segment of the workforce identified as the talented by virtue of their current performance or future potential (IIes et al, 2010). Armstrong (2009) considers talent management as a form of a...
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