Talent & Firms Success/ Failure

1675 Words Jun 12th, 2014 7 Pages
Talent and Firms Success/ Failure

Prepared for
GB 540: Economics

Prepared by
Amare Ayalew
Student in Kaplan University Talent and Firms Success/Failure
Talent is the main driving force for business success. Talent management is a process by which an organization identify, attract, manage, utilize, retain, develop and engage people to meet current and future needs (Mucha, 2004). Business need to understand and respond to their employees needs in the workplace. The completion to acquire talented workforce become more strategic than ever before. Companies in today’s talent market faces a curious paradox In both economic downturn as well as at the height of a boom. Effective talent management is essential to achieving organizational
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Talented forces need a better opportunity for professional and personal development. The successful leader who values talent is well aware of this factor and provides the highest opportunities to talented employees. 2. The moral dimension or higher purpose: employees are seeking for some form of moral satisfaction at work. Therefore adding a moral or social content to work or the organizational mission help in attracting retaining talent. The successful leader have to create a cause minimize instrumental relationship and selfish thinking of the employees- I am hear for money, I need to gain some skills which I will go some were else and use it. 3. The work-life balance: the new generation professionals take their family life as important as or even more important than their work life. So a company must create an environment that accommodates every possible help for its employees to arrive at this balance. For example, maternity or caring for elders have to be given a special consideration by the management. Many potential and talented woman executives leave their jobs when they find that they cannot keep work –life balance. 4. Women friendly work place: It is recognized by many corporate leaders that talented women are a source of competitive advantage because they can bring competencies and point of view which are different from men (Srinivasan, 2011).

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