HRM 532 WEEK 8 DISCUSSION: Benefits and Challenges to Talent Management
Discuss two key benefits of a strategy-driven talent management approach.
Strategy-driven talent management is guided by the business strategy, is interwoven into other processes of the organization and is managed as a major business practice. In this type of structure, the “talent mindset” permeates the operation because talent management is gaining more recognition as an essential element of any business that aspires to be successful (Silzer, 2009, p.xxii). There are several advantages of a strategy-driven talent management approach that are discussed by Silzer (2009, p. 752) ensures that there is a strong connection between talent decisions and business decisions. Among those advantages, these two are very important:
1. Provides a durable competitive advantage in the marketplace: A competitive advantage is created in recruitment. When job descriptions are accurate and attract the right candidate with the necessary skills to perform the job. The right person in the right job leads to retention and more time for development. Managers with the ability to identify leadership potential and set a path for development of an individual helps maintain an internal pipeline of qualified individuals.
2. Becomes a mindset that permeates management decisions and holds managers and leaders accountable for talent resources: This means that the need for effective talent management and succession planning is supported at the highest levels of the organization. The necessary tools and resources are provided to encourage and engage potential leaders.
Discuss two challenges of a strategy-driven talent management approach.
The strategy-driven talent management approach also has its challenges. There are organizational challenges that might affect the strategy -driven approach. A change in leadership, especially a new CEO, could derail the program due to a leader with a different vision for the organization. Economic circumstances might cut resources from the talent management program if the business is having a cashflow problem. There could also be an oversupply or under supply of talent. Most of us are aware of the problems that can be caused by not having an effective pipeline of well-developed individuals who can step into leadership roles but in a strategy-driven talent management approach, it is possible that the efforts to make sure there is enough talent could lead to having too many leaders with no where to place them. This may lad them to seek other opportunities after such an investment has been made into their development (Silzer, 2009, p. 753).
Silzer, R. (2009, September 25). Strategy-Driven. Retrieved from www.siop.org: http://www.siop.org/userfiles/image/silzer_TOC.pdf
Silzer, Rob. Strategy-Driven Talent Management: A Leadership Imperative. Pfeiffer. [Strayer University Bookshelf].
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