Talent Management

Introduction Organisations require human resources with different expertise, talents and experiences to develop an orchestrate team; globalization has facilitated movement of labour across borders to the benefit of firms (Berger Berger, 2003).Advertising We will write a custom article sample on Talent Management specifically for you for only $16.05 $11/page Learn More To benefit from free movement of labour, firms need to implement human resources management policies that can nature, develop and effectively tap human talents. The article by Burbach Royle, 2010, called Talent on Demand, discusses how talents can be managed within multinational companies. This paper discusses the main points brought about by the article. Talent management â€Å"Talent management as a corporate area of focus has been building steadily† (Burbach Royle, 2010). Talent management can be defined as a complex human resources management process where the human resources team develop measures and policies that facilitated in tapping human beings intellectual property. Globalisation has increased competition in modern business to a notch higher, companies need to improve their processes and products as well as innovate better processes and products. This can be done through the utilization of intellectualism and talents that a company has. Talent is seen as method of developing competitiveness within an organisation with an edge that other companies may not reach (Berger Berger, 2003). As much as talent management is a role played by human resources departments, it calls for collaboration of top and line managers to establish, develop and tap their human resources talents. On page 418, Burbach Royle are of the opinion that talent development is influenced by cultural and societal dissimilarities that human resources operate in, they discuss the differences in talent management approach in Germany and Ireland.Advertising Looking for article on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More To manage effectively talents, an organisation should start by understanding the current strategies and processes and how they support talent management, with the understanding, they will be able to tap talents from entry level, nature, develop and retain them to the benefit of the organisation. When a talent has been developed, there should be effective passing out mechanism so as the benefits of the talents can benefit an entire organisation. A well-planned development assists the company to nurture, develop and retain employees with talents in the company. To facilitate talent development, knowledge development cannot be ignored; knowledge and talents are intangible assets, which are unique to different business and can be improved with experience and information interpolation (Burbach Royle, 2010). â€Å"Theoretically, global HRIS’s can play a key role in gathering a nd analysing talent management information and can be used to underpin the talent management process (Burbach Royle 2010, p.426). Discuss the issues relating to the use of HRIS’s in the global talent management system at Meddevco. Include some discussion of the outcomes resulting from these difficulties/issues. A number of issues face global HRIS talent management programs, the issues are at global, national and organisational level, they include: Resistance from international community For an effective HRIS talent management program, whether at Meddevco or any other country, the programs require support from international bodies and community. However there have been resistance and denied support by the community to support programs. An example is the resistance from European Union. Effects of domestic country local cultures Through at Meddevco the centralized control and reinforcement center is seen as the central point for management of talents, the success of the program has been affected by domestic policies and local culture. Psychological and emotional supports are necessary for an effective talent management program; however, this has been hard to come by.Advertising We will write a custom article sample on Talent Management specifically for you for only $16.05 $11/page Learn More Lack of management support Management has the role of establishing and growing talents within their organisations; they should implement policies that facilitate the emergence, growth, development and maturity of talents within their organizations. However, they have looked down the exercise and programs set by HRIS, the majority of managers at Meddevco are of the believe that talent management is another function of the human resources managers; they fail to realize in itself is an expensive task that needs special attention. When they leave the task to the human resources management alone, the success of the programs is likely to fail. Global and micro-political relationships When developing a global talent management program, some political issues that affect the development. Some countries are not willing to let their countries potential be shared with the world. Some countries like the United States feel they need to preserve their talents, this is seen as political and power building structures. When HRIS programs are faced with different issues as illustrated, the management of talents is limited to national and regional levels. At this rate, the potential that the world has is lost; the rate at which a country or company uses resources efficiently is reduced (Burbach Royle, 2010). Conclusion Globalisation has facilitated movement of labour across boundaries; the more human resources an economy has, the more talents it has. Personnel’s have different talents and capabilities; however, tapping these intellectual assets requires strategic human resources management policies that can nature, develops, an d manage talents. References Berger, A. Berger, D. (2003).The talent management handbook: creating organizational excellence by identifying, developing, and promoting your best people. New York, NY: McGraw-Hill. Burbach, R., Royle, T. ( 2010).Talent on demand: Talent management in the German and Irish subsidiaries of a US multinational corporation. Journal of Public Relations, 36,(4), 414-430.Advertising Looking for article on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This article on Talent Management was written and submitted by user Seamus Beck to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

US National Debt essays

US National Debt essays "Spending financed not by current tax receipts, but by borrowing or drawing upon past tax reserves." Is it a good idea? Why does the U.S. run a deficit? Since 1980 the deficit has grown enormously. Some say it is a bad thing, and predict impending doom, others say it is a safe and stable necessity to maintain a healthy economy. For nearly 150 years the U.S. government managed to keep a balanced budget. The only time a budget deficit existed during these years was in times of war or other catastrophic events. For instance, the government created deficits during the War of 1812, the recession of 1837, the Civil War, the depression of the 1890s, and World War I. However, once each incident ended the deficit would be eliminated. The economy was much stronger than the accumulated debt and would therefore quickly absorb it. The last time the budget ran a surplus was in 1969 during Nixon's presidency. Budget deficits have grown larger and more frequent in the last half-century. In the 19 80s they soared to record levels. The government cut income tax rates, greatly increased defense spending, and didn't cut domestic spending enough to make up the difference. The deep recession of the early 1980s reduced revenues, raising the deficit and forcing the Government to spend much more on paying interest for the national debt at a time when interest rates were high. As a result, the national debt grew exponentially in size after 1980. It grew from $709 billion to $3.3 trillion in 1990, only one decade later. (See Table 1) Federal spending has grown over the years. If you compare actual dollars and their proportion to the economy (Gross Domestic Product, or GDP), much of it began in the 1930s. Beginning with the "New Deal", the Federal Government came to play a much larger role in American life. President Franklin D. Roosevelt sought to use the full powers of his office to end the Great Depression. He and Congress greatly expanded Federal prog...