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A more useful definition of talent management is the differential management practices and opportunities available to human capital(talent) in the organization (Blass, 2007).
Competency management has gained special status in talent management practice in both public and private sector, lubricating them in talent attraction, identification, development, deployment, and other core functions of human resources (Mentzas, 2006). Talent Pooling Employees with high potential and high performance are the key players in any successful organization.
Here talent pooling refers to pool up these high potential and high performing employees who can be exposed to these pivotal competencies to fill the current or future key positions of the organization.
The concept of “competency” was introduced by Harvard’s distinguished psychologist, David Mc Clelland to the human resource’s body of knowledge, to improvise the selection procedures of United States Information Agency (Mc Clelland, 1973).
Competency mapping has been found to be one of the most important strategy for effective performance of talent management practices like sucession planning, development and retention (Nair, 2012).
Future research directions will explain how human talent management researchers will work on the integration of relationship and contribute towards the maturity of talent management by further exploring and validating the model empirically to enhance the body of knowledge.
Human Talent Management Many researchers believe that talent management is mere rebranding of human resource management; while we analyzed that it has more specific approaches towards talent (high potential and high performers).These also reduced the gap between the competencies required by a specific project, a job role, or that of organizational strategy in future and those existing.Pivotal competencies are more crucial as they contribute to organizational success significantly and create value to the business.The focus of this paper is to review the existing relevant literature and to identify different constructs of human talent management (competency focus, talent pooling, talent investment and talenting orientation), and their influence on organization’s value creation.Further, propose a conceptual model and few propositions, which may enhance our understanding how talent management orientation influences the value creation of a firm.These are the important tools and well as contributors towards human talent management and value creation.Competency Focus We utilized the term pivotal competencies to refer the set of crucial skills (talent component) that organization can develop among high potential (talent) employees towards the value driven organization.Competency-based approaches have been critical to many organizational functions like succession planning, performance management, and human capital planning.These approaches were eminent, as they eased the process of skill, knowledge, ability, and behavior identification to manage right human capital for current and future needs, aligned with that of business strategy.Competence is one of the essential elements which signifies a talented incumbent (Gallardo-gallardo, Dries, & González-cruz, 2013; Ulrich, Brockbank, Johnson, & Younger, 2007), once developed in a better way, leads to excellent and exceptional job performance (Gallardo-Gallardo et al., 2013).Competency being very old concept having its footprints in Roman history, they used to practice a similar function that of competency profiling to detail out the attributes of “good Roman soldier”.