Talent Management is New Innovation Taking Over Human Resources

Decent Essays
Businesses are moving into a new era concerning human resources (HR). The emergence of Talent Management (TM) is the innovative focus that is combined with management issues and HR methods (Bersin, 2006). How can an organisation be more efficient when recruiting new staff? How can companies identify competency issues and solve these through training or development options? How can they manage their employees to affiliate them with company goals and missions? How can organisations identify their top talent and reposition them to gain maximum outcome? These encounters require new strategies and methods in which TM can achieve company expansion and success.

“A firm’s resources and capabilities include all of the financial, physical,
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Since 1598 the Princes of Oettingen-Wallerstein have been inseparably linked with the Fürst Wallerstein brand. The princedom is one of the oldest existing high nobilities in Europe, known for tradition, culture and high quality products in all three segments (Fürst Wallerstein, 2007).

Today the family is in its 30th generation and has been successful in producing, distributing and marketing regional and local high quality brew, allocating 15 beer brands as well as soft drinks and water (Fürst Wallerstein, 2007) selling 6 million litres of beer every year priced at a premium level, exporting some products to China and Thailand since 2011 (Oettingen-Wallerstein, 2014). In addition, Fürst Wallerstein manages forests of more than 110 square kilometre, and dealing with dozens of personally owned flats, houses, castles and significant amount of ground space (Oettingen-Wallerstein, 2014). With over 100 employees the family enterprise believes in “Vigilantia et Fidelitate” – “Attention and Trust”, the companies mission statement and motto, meaning to trust and believe in quality and knowledge and to be attentive in combining new innovations and technologies with tradition for the future (Fürst Wallerstein, 2007). Harmonising tradition with new trends, Fürst Wallerstein targets a broad local
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