The Impact of Talent Management For the Progress of Organization |
In today’s competitiveeconomy, organizations need to continuously invest in human capital. In therole of business partner, HR leaders work closely with senior management toattract, hire, develop and retain talented employees. Yet competitive working environment, shortage of skilled employees leads to socio economic and cultural challenges astalent crosses borders. As a result theworkforce trends such as shifting demographics, global supply chains, increasing global mobility, forward looking organizations must rethink theirapproach to talent management to best harness talent. Overall economic outputis a function of the number of workers multiplied by hours per workermultiplied by productivity per hour. Assuming a shrinking workforce and a stable work week, productivitygrowth is the only lever for increasing economic output (Ken Berryman, 2003).