Corporate Culture Into Talent Management

It is important that HRM consultants create a strong and sound strategy to keep and gain the competitive advantage. By successfully implementing good HRM strategies, companies can provide excellent talent and improve by staying current on the latest technologies and other information talent (Welcome to HR Consultants, Inc., 2009). This will allow clients to increase productivity within the organization; which in turn will increase profits. The greatest organizations realize that effectively managing the HRM strategies and know that employees are their greatest asset and that they are important to their survival. A sound understanding of HRM strategies will allow clients to keep their competitive advantage (Welcome to HR Consultants, Inc., 2009).

This paper is going to describe OCBC’s unique approach to talent management and development. Compare OCBC’s approach to talent management and development to other organizations you are familiar with (e.g., current or past employers, a family business). Explain how OCBC’s approach to talent management and employee development been a primary contributing factor to the firm’s success. Evaluate the extent to which OCBC’s approach to talent management and development fits other organizations or industries, including some limitations if applied elsewhere without modification.

All organizations have the common objective of being successful and nowadays due to competition that is not an easy achievement. The most important capital that companies have is the human capital and, to be successful, is essential for the organizations to focus on people.

In order to develop a human resource strategy; there must be a linkage of the entire human resource function with the firm’s business strategy in order to improve business strategy execution. The first recommendation

Today 's fast-paced, competitive business environment has resulted in "rediscovery" of the human resource management function as a group that may be able to enhance firm competitiveness and performance by being "strategic" (Dyer & Kochan, 1995; Ulrich, 1997). Strategic Human Resource Management is a term describing an integrated approach to the development of Human Resource Strategy that will enable the organization to achieve its goals (Armstrong, 2005). Whiles strategy is an action that managers take to attain one or more of the organization’s goals. Strategy presents a general direction set for the company and its various components to achieve a desired state in the future. This results from the detailed

Diversity is known as individuals which are representing more than one national origin, race, gender, sexual orientation, disability, religion, beliefs, and age which create a diverse workforce environment were some feels valued at all costs and was skill sets are being used to develop goals within the organisation.

Human Resources often begins as very tactical policies, records, compliance, discipline, compensation, benefits, job descriptions, hiring, performance management (). Taken to the next level, HR becomes strategic, connecting employees to the business mission, values, and vision, in order to drive business results (). Employee goals and metrics align to the business strategy and rewards tie into results. Additionally, careful consideration is given to developing talent pipelines, employee succession plans, and career planning in order to respond flexibly to the inevitable work flow and staffing changes that all businesses experience ().

Write a 2-3 page essay identifying the critical components of a Talent Management Program and provide a detailed rationale of why companies invest millions of dollars in Talent Management Programs?

Boudreau and Ramstad (2002) propose focusing on “pivotal talent” or the talent where improvements in capabilities will make the most significant impact on competitive advantage. When talent management is integrated into strategic business planning, there is an opportunity to discuss the capabilities and skills needed to execute the plan. This helps leaders create proactive plans to ensure that they have the talent they need to achieve the strategy (p. 7). According to Aguirre, D., Hewlett S. A., and Post L. (2010) the global recession has compelled CEOs to recognize the competitive advantage in the knowledge economy is determined and driven by human capital. People are the only asset that innovates, and innovation is the only path to sustained breakthrough performance. As part of the process of prioritizing critical

The practise of Human Resources is moving from the traditional forms of managing people to a more strategic form whereby the Human Resources function is closely linked with organisational performance and success. This strategic form of human resources has increased the need for the Human Resource professional to understand the linkages between Corporate Strategy, Human Resource Strategy and Employee Integration.

The term Human Resource Strategy is well defined as - “Human Resource management (HRM) is a strategic approach to managing employment relations which emphasises that leverage people 's capabilities is critical to achieving sustainable competitive advantage, this being achieved through a distinctive set of integrated employment policies, programmes and practices.” [ Bratton and Gold,4e,p3]

Talent management is the integrated and systematic process of attracting, engaging and retaining key employees and potential organizational leaders. The main objective of the talent management is employee performance evaluation.

Instead, human resource practices of ‘best fit’ are more effective when they are designed to fit certain contingencies in the organization’s specific context. Consequently, ‘best practice’ is perceived to improve performance within an organization when a select bundle of policies is implemented and the employees are managed more efficiently. Jeffrey Pfeffer’s (1994) work under this conception offers a list of seven practices assumed to be most beneficial to an organization for achieving competitive advantage ‘through people’. (1) The importance of employment security is emphasized because it is unrealistic to expect such hard work and commitment from employees without some expectation of security on their part. (2) Selective hiring is a source of sustainable competitive advantage through its “capturing” of particularly exceptional human talent (human capital). (3) Self-managed teams require efficient teamwork, and are seen as a route to achievement of more creative solutions. Employees deserve to be rewarded for

Talent acquisition is defined as the “strategic approach to identifying, attracting and onboarding top talent to efficiently and effectively meet dynamic business needs” (Erickson, 2012). Talent acquisition has the unique role of ensuring job applicants not only have the right credentials for the job, but also have the right mentality for the job. In other words, the person who ultimately will be offered the job needs to ‘fit’ within the firm’s structure and culture.

Today, human resources are seen as "the available talents and energies of people who are available to an organization as potential contributors to the creation and realization of the organization's mission, vision, strategy and goals" (Jackson and Schuler, 2000, p. 37).There exist two models that seek to describe what strategy is and how an organization should develop such strategy. The first model known as the Industrial Organization (I/O) model is based on the assumption that firms competing in the same industries are homogenous and emphasizes the external environment as the basis for organizational decision making. The second model, called the Resource Based View contrasts the I/O model by assuming that individual firms are unique and