Talent management
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Talent Management: A Comprehensive Overview
Definition and Conceptual Boundaries of Talent Management
Talent management has become a central focus in human resources, yet its definition remains inconsistent and often debated. A critical review highlights the lack of a unified definition and the need for a systems-oriented approach that aligns with strategic human resource management principles. Similarly, another study emphasizes the necessity for clear conceptual boundaries and proposes a theoretical model to aid future research and practical applications.
Evolution and Streams of Talent Management Research
The field of talent management has evolved significantly, with two primary streams dominating the literature: the management of high performers and high potentials, and the identification of strategic positions and talent management systems. Despite the growing body of work, early criticisms about the fragmented nature of the field persist, calling for more comprehensive and nuanced methodological approaches.
Talent Management in Different Organizational Contexts
Large Multinational Enterprises vs. SMEs
Research predominantly focuses on talent management within large multinational enterprises (MNEs), often overlooking small and medium-sized enterprises (SMEs). A study addressing this gap suggests that talent management practices in SMEs differ significantly due to distinct institutional and structural factors. It proposes a framework to identify the unique characteristics of talent in SMEs, challenging the best practices approach commonly applied to larger firms.
Healthcare Sector
In the healthcare sector, talent management is crucial for sustainable development and quality patient care. A systematic review identifies key factors such as programming, attraction, development, preservation, performance assessment, work climate, culture, succession planning, and leadership as essential for effective talent management in healthcare organizations.
Talent Optimization and the People Equity Framework
The concept of talent optimization extends beyond traditional talent management, focusing on maximizing the return on talent investments. The People Equity framework serves as a global bridge linking individual and business outcomes, such as turnover, financial performance, and customer retention, with organizational processes and policies that drive high or low talent optimization.
Challenges and Future Directions
Definitional Ambiguity and Conceptualization
The ongoing confusion about the meaning of 'talent' within the workplace hinders the establishment of widely accepted talent management theories and practices. A comprehensive review categorizes different theoretical approaches to talent and proposes a framework for its conceptualization, highlighting the need for further research to develop the talent management construct.
Implementation Factors
Successful implementation of talent management practices hinges on several factors, including the existence of a talent pool, succession and career development plans, a flexible remuneration system, and support for education, development, innovation, and creativity among talented employees. These factors are critical determinants of effective talent management implementation.
Conclusion
Talent management is a multifaceted and evolving field that requires a clear definition and strategic approach to align with organizational goals. While significant progress has been made, particularly in large enterprises and specific sectors like healthcare, challenges remain in terms of conceptual clarity and practical implementation. Future research should focus on refining theoretical models, exploring diverse organizational contexts, and developing comprehensive methodologies to advance the field further.
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