Hrm 532 – Talent Management

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The last phase is crucial because it showed Bank of America the barometer how the leaders were reviewed by the stakeholders. This phase indicated feedback and areas were identified in these reviews that were significant enough to mention. The feedback gave the corporation a tool to measure their accomplishment or the lack of to improve on their talent management process.

Criteria #4

Talent management will be an obstacle course for corporations in the twenty-first century. No longer will leaders be able to lead their organizations in the coming years the

they have in the present. According to Cappelli, P. (2008), Talent management has been a huge challenge for organizations. In the United States, talent management has been dysfunctional, causing companies to look for surpluses of talent to shortfalls to surpluses and back again. Corporations must think of new ways in selecting talent management. They must become even more innovative during this process, because there will be shifts in demand; Cappelli, P. (2008) further suggested corporations should adapt to uncertainty in talent demand, therefore it is imperative for the organizations to forecast their demand years in advance.

Lead Executives must improve the return in developing employees, as noted by Cappelli, P. (2008). When internal development was the only way to produce management talent, companies might have been forgiven for paying less attention than they should have to its costs. They may even have been right to consider their expensive development programs as an unavoidable cost of doing business. But the same dynamics that are making today’s talent pool less loyal are presenting opportunities for companies to lower the costs of training employees and thereby improve the return on their investment of development dollars, as they might from any R&D effort, Cappelli, P. (2008).

Competition will get no easier for corporations in the twenty-first century. Even though lead executives are meeting behind closed doors brainstorming and gathering data, they will have to become even more strategic in their planning process. Organizations are becoming more sophisticated in their endeavors to remain on the cutting edge. With competition to retain high-potential employees at fever pitch, talent management is firmly occupying the HR, learning and development and leadership agenda which was documented by Garcea, N. (2011).

Companies must be in the know, keep an open dialog going and align their talent to meet future challenges. They must value assessment and as Garcea, N. (2011) suggested respect diversity.

Conclusion

Talent management is a must for corporations to take a closer look at. This paper has attempted to point out various ways and means for lead executive and Human Resource Managers should develop their teams in order to be more effective. Another aspect of talent management is for the leaders to continue to develop, train and upgrade all individuals on each level. The must be aware of their business strategies by implementing and evaluate through performance reviews and ensure that their vision, mission, goals and objectives are in place.

References

Cappelli, P. (2008). Managing Uncertainty. Talent management for the Twenty-First Century.

Garcea, N. (2015). Consulting director of talent management consultancy, Capp

Goldsmith, M., & Carter L. (2010). Best practices in talent management: How the world’s leading corporations manage, develop, and retain top talent. San Francisco: Pfeiffer.

Silzer, R. & Dowell, B. (2010). Strategy-driven talent management: A leadership imperative. San Francisco: Jossey-Bass.

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