Talent Management Program in Organization: A Critical Analysis on Prospect and Barriers on Its Implementation

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Mendez et al, (2011) further emphasizes that a company needs to invest in employee retention in order to be successful. For example, a good compensation package is important in retaining employees, offering an attractive, competitive benefits package with components such as life insurance, disability insurance and flexible hours motivates employees to commit themselves to an organization (Lockwood et al, 2006). The organization need to identify the needs of their employees so that the organization can focus in to the things that can make the employees stay in the organizations.

In light of the above, a salary offered to an employee should not only be viewed as a sum of money, but as a package of remuneration in order for the payment to serve as a retention factor. Gomez-Mejia et al (2006) refers to this as internal and external equity. External equity is the perceived fairness of the remuneration in comparison to how much other employees in the same kind of work are receiving in the same industry. On the other hand, internal equity refers to how an employee perceives his pay to be fair in comparison to another employee who he perceives to be in a similar position within the same organization.

After the organization recruit and retain talents, the next process is talent development which is the process of changing an organization, its employees, its stakeholders, and groups of people within it, using planned and unplanned learning, in order to achieve and maintain a competitive advantage for the organization (Davis et al, 2007). As businesses continually apply new technologies, new business growth models, and new market strategies, the workforce‘s up-skilling becomes constant and continuous.

Organizations which practice effective learning and development begin with their employees. This implies that they identify the employees who need learning and development, the level of learning and development they need and the duration during which learning takes place (Harburg, 2003). Organizations with first class learning and development initiatives are excellent in listening on employee improvement needs and are able to express those needs back to the employee in clear and enlightening terms.

To keep developing the employees the organization can identify the best programmed that suit with the employees to be their support system in order to enhance their knowledge and skilss to become better. Every talents have different need and ways in order to encouraged them become better and to prepare the talents to fill the key position and critical position in the organization.

CIPD (2010) study on learning and talent development results indicated that in-house development programmes at 56%and coaching by line managers at 51% ranked among the top effective learning and development practices. E-learning was also identified as key in learning and development. Moreover, the study found that senior managers and the human resource department were tasked with ensuring that courses were delivered and overall planning of the learning process carried out effectively. This study was carried out through a survey of various organizations.

The study also found that the skills the employer said they needed to focus on in order to meet their business objectives were mainly leadership skills at 65%, frontline people management skills at 55% and business awareness at 51%. Learning and development has become an important talent management initiative in many companies around the world.

For some companies, learning and development is a strategic process that minimizes leadership gaps for critical positions and provides opportunities for top talent to develop the skills necessary for future roles. With other companies, learning and development is a constant struggle, viewed as an administrative exercise rather than as a competitive advantage. In strong economic times, it is easier to ignore deficiencies in the career management process, but in the current economic downturn around the world, the need to identify and develop top talent for critical roles has never been more important (Davis et al,2007).Learning and development is an approach of an organization ensuring that people with the right qualifications and experience are available when needed (Zheng et al, 2001).

Talent-management practices can create the most permanent competitive advantages, new technologies and innovations can be easily be replicated by competitors and generate only temporary competitive advantages.

Sustained competitive advantage comes from talent management practices in other words, how the organization attracts, develops, retains, motivates, manages, and rewards its talent. (Heimen et al, 2004) Like a machine, a business will fail to operate successfully if key elements such as processes, systems, and structure are misaligned or hindered by friction between those element and like a machine, a business must be designed, operated, and maintained.

These functions are performed by the talent – the human capital employed by the enterprise. Indeed, talent (i.e., an organization’s employees), typically is the single biggest lever for driving improvements in business performance. The collective skills of the talent employed in an organization largely comprise the organization’s core capabilities.

An organization’s talent injects capabilities that are very difficult for competitors to benchmark and replicate. More than any other asset, talent provides the potential for long-term competitive advantage (Lawler, 2008). 73% 0f Executives in USA agrees on the positive relationship between talent management and business strategy to obtain the success of the organizations (Ballesteros et al, 2010).It means that companies recognize the importance of talent management integration with business strategy to get organization excellence.

Talent management is important when the firms would like to build winning teams which will be formed by talented people (Davis et al,2007).They can use this teams to solve problems or weaknesses in their organization because they have competent and experienced people in this fields. If a firm wants to be successful, it must invest in talent management of their workers to obtain some conditions in the company like good business environment (Snell, 2005).

According to (Ashton & Morton, 2005) new cycles of business growth will demand different kinds of talent. These can be happen in different situation such as changing employees demographics with reducing labor pools that can lead to a talent squeeze, downturn economic conditions which require separated talent and talent management, the emergence of new enterprises which suck talent from larger organizations and global focus