Nokia-Talent Management

1750 WordsMay 16, 20117 Pages
Question 1 Introduction Effects of Globalization The battles for talent, recession, inadequate succession planning, brain-drain are all the effects, of a shrinking global economy and globalization, which present both threats and opportunities to companies. With companies striving to obtain a competitive advantage in the global market place, the shortage of appropriate skill-sets by individuals to meet unique requirements, is becoming more problematic. Holbeche (2009:3) states: “Talent and the ability to engage that talent to produce high performance teams are the buzzwords which can be heard in organizations in every sector, reflecting the growing awareness of the importance of being able to attract, manage and motivate and retain…show more content…
Diversity Diversity as a source of competitive advantage Gitman and McDaniel (2009:225), also states that one of the most important trends in human resource management is using employee diversity as a competitive advantage. This view is supported by Moore, K (December, 2010) who states that, “skilled and motivated people from diverse backgrounds and experiences can lead to significant competitive advantage over other organizations.” He goes on to say that each employee comes into the organization with a unique set of knowledge, skills and abilities (KSAs). These KSAs are shaped on the different cultural, sociological, racial and religious that they are brought up in. (Nel, Werner, Haasbroek, Poisat, Sono and Schultz, 2010). Diversity at Nokia Boselie, P (2010), states that Nokia’s corporate belief in diverse workforce contributes to creativity, innovation and success. These views are supported by Nel et al. (2010:178) and Moore, K (December, 2010). In Nokia’s recruitment and selection process there is an alignment to these strategic corporate beliefs of Diversity. Retention Strategies of retention Nokia also embarks on different strategies focusing on reward strategies relating towards retention of employees recruited and selected. Some of these reward strategies include financial
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