...Managing talents such as celebrities, singers, models, or endorsers is a very challenging and demanding job. It needs a lot of courage, effort, creativity, time, passion, and love for the work and for the talents. If I were given a chance and opportunity to manage talents, I think I would make it to a point that I will be really hands-on while they are having their training, workshops, and preparation for their auditions or projects. I would assist them in putting together and setting up their portfolios to be presented to different people who may provide them their big breaks in the industry. I would be happy to help my talents to achieve their dreams and make significant marks and difference in the industry while they themselves are happy in their jobs and are developing and growing up as good persons with great talents. However, managing different talents needs different approach. Before deciding or planning on the best ways or approach to manage them, I think it would be better if I have already assessed them – what they want or need, their career goals and dreams, who they are and what they can offer to the audience, as well as what their unique “selling points” are or what is something special about them. For the kid, I think she is really amazing. I cannot believe that such a great quality voice, extraordinary talent in music, clear pronunciations and good dictions and a charming face can be encapsulated in a body (or vocal chords) of a young girl. When I heard her...
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...Assignment # 1: McDonald’s Case Study June N. Lewis Dr. Waldo, Instructor Talent Management - HRM 532 Strayer University July 21, 2013 Assignment #1: McDonald’s Case Study Outline the talent management program that led to success for the company. In the fourth quarter in 2002, McDonald’s had their first profit lost and the company began to ask themselves what went wrong because they had a history of outstanding performances until then. Upon reviewing some of their key components, the organization realized that they had to revamp their Talent Management process so that it would become aligned with the company’s business objectives and policies. Talent management is defined as “a subset of human resource (HR) processes, programs, and tools designed to identify, assess, develop, and retain talent (Silzer & Dowell, 2010, p.75). The company’s first two steps in achieving success was to restructure their performance development system (PDS) throughout the organization for all of the staff positions along with coming up with a talent review process for all of the officer-level positions in the company. Next on the list was creating and implementing a sequence of enhanced development programs, such as, Leaders at McDonald’s Program (LAMP), the McDonald’s Leadership Institute, finally, the launching of the Global Leadership Development Program. When McDonald’s had originally rolled out their strategy for the performance development system (PDS) in 2001 for all of the staff...
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...Whirlpool Corporation (Goldsmith) Strayer University HRM532/Talent Management Dr. Moore 12/5/2011 Discuss what factors emerged at Whirlpool that impacted its talent needs. As the company expanded its operations in the US and globally, the company’s leadership needs changed. Operating in a dynamic and diverse market added additional considerations for the company’s leadership talent pool because “the growth, size and scale of the business added a level of complexity that required different skill sets and capabilities to compete in the global marketplace” (Goldsmith and Carter, 2010). The business grew in the US and globally, technology and new product development required a talent pool that was not only technology proficient but capable of helping the companies meet the dynamic and diverse needs of the consumers they served. Also, Whirlpool was now competing for talent acquisition and product business in a global marketplace requiring the company to adjust talent and product marketing strategies that allowed them to continue to sustain product growth as well as attract talent. As a result the changing dynamics of the workforce made it necessary for Whirlpool to develop a talent strategy that accounted for the fact that the workforce was no longer the loyal workforce that was typical in years past. (Goldsmith and Carter, 2010). Discuss how expanding globally changed the talent requirements at Whirlpool. Whirlpool began developing the Whirlpool Leadership...
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...HEAD: McDonald’s CASE STUDY Mondrea Mathews Professor Germain HRM 532 Talent Management January 22, 2012 McDonald’s has been around for fifty-four years. By McDonald’s growth to more than thirty thousand restaurants in 118 countries serving fifty-five million customers per day. A number of factors led the organization to the conclusion that enhancements in its talent management and development system were need. (Goldsmith, 2010. p.156). McDonald’s framework for “Plan to Win” consists of the people, place, product, promotion, and price. McDonald first has to have the right people in place to make the business successful by obtaining a global/local approach in the management and developing of their global workforce. There are two levels that were embedded with the expectations of the employers which consist of good customer service and experience levels. This made McDonald’s to concentrate on the quality, service, cleanliness, and the value being strong. The talent management system program that led to the success of McDonald’s consist of the redesign of the performance development system for all staff positions throughout the company. This consists of the company starting annual performance plan to measure the performance of the objectives that the company has put in place. Second, the introduction of the talent review process for all officer-level positions the results of the one year follow up survey with...
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...brand in the United States. Bank of America began as a small regional North Carolina National Bank and has become one of the largest companies in the world. Bank of America services individual consumers, small, middle market businesses and large corporations. 1. Outline the talent management program that led to success for the company. Bank of America has always been a leader in the financial services industry. Its philosophy of talent management and development is driven by seven guiding principles that create a mindset that is pervasive across the bank’s executive ranks. The seven different philosophies are stated below: 1. Leaders really do matter in managing and driving accountability, results and culture. 2. Performance rules: Top performers, then high potentials 3. Talent is an enterprise resource. 4. Today’s top-performing leaders are not necessarily tomorrow’s. 5. A broad set of experiences and assignments is the best classroom; yet, a balanced approach is necessary for development. 6. Today’s top 100 must leave a legacy of future talent by teaching, mentoring and serving as role models to others on what it takes to succeed. 7. Invest in the best and focus the rest. Bank of America’s talent management and development efforts are structured around a core set of frameworks that includes the Bank of America core values, a 70-20-10 development frameworks that includes experience based development, 70 percent, coaching and feedback, 20 percent, and learning, 10 percent;...
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...• Reluctance to Invest: Majority of the small and medium enterprises (SMEs) in Pune are reluctant to invest in human resources (HR) services in their respective firms. They seem to have failed to realize the importance of having an HR department, which has a vision for retaining talent, developing skills and also managing hidden and known talents in the workforce. They do not gather that an HR department can help with all issues faced by SMEs – in managing everything within a holistic framework of their organization. • Constraints involved in investments HR consultancies and industry representatives are of the opinion that physical and psychological barriers are the biggest constraint in investment in these initiatives. Moreover, SMEs in Pune lack the mechanism needed to collect the structured inputs to manage HR challenges. Financial constraints are also a major hindrance stopping SMEs to appoint HR personnel. Small firms do not have enough funds to make substantial investment in HR initiatives. • Lack of segregation Many SMEs do not have department separations, hence lack chartered policies. Several employees in such industries are also reluctant in contributing to statutory contributions such as ESI, PF from their salaries. They are aware of their statutory right but are reluctant to share their income. Recently, ESI also reduced hospital facilities and these hospitals are not equipped enough to treat patients. Hence, the employees feel that it is a wastage of money...
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...Course: Talent Management – HRM 532 Date: Sunday, February 26, 2012 Evaluate the effectiveness of the roles that the strategic leaders played in the formation of the performance management strategy. Silzer and Dowell (2010) define Talent Management as “ an integrated set of processes, programs, and cultural norms in an organization designed and implemented to attract, develop, deploy, and retain talent to achieve strategic objectives and meet future business needs” (p. 18). And lists the following as components necessary for a talent management program strategy: recruitment; selection; promotion; placement/assignment; on-boarding/assimilation; retention initiatives; rewards/recognition programs (other than compensation); training and professional development; coaching/mentoring; leadership development; performance management; career p Develop a five (5) point criteria for evaluating the effectiveness of the talent management strategy and how the data could be collected. Silzer and Dowell (2010) go on to state that after determining the talent requirements that are strategically important to the organization, the next step is to consider whether there is a sufficient internal talent to meet that short and long term business needs of the company, this could involve either making or building the needed talent from within the company or buying from outside company (p. 97). Bersin, J. (2011) provides a table to identify competencies for leadership talent (p....
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...Sustainable Talent Management In order for organizations to meet the growing demands of business sustainability and maintain a competitive advantage over the competition, businesses are encouraged to take a hard look at their talent pool (Urlaub, 2011). This process aims to retain employees and foster their continuing development of skills and competencies to achieve the organization’s immediate performance goals and long-term strategic objectives. This often requires managers to incorporate a wide variety of perspectives in their talent appraisals. The ability for an organization to identify, select, develop, and retain highly valued skill sets can set a company apart. Talent Management Strategy is defined as an organizations commitment to recruit, retain, and develop the most talented and superior employees available in the job market through goal-setting, performance management, assessment, compensation management, learning, career planning and succession planning processes. This paper will discuss a few topics surrounding sustainable talent management which will include; determining which performance management process can be used to measure employee talent, analyze key concepts related to the talent review process, develop appropriate talent management objectives to measure functional expertise, asses key elements of global talent management as they apply to my organization, and recommend a process that optimizes a sustainable talent management process. ...
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...The tipping point for talent management Human Capital Institute | www.humancapitalinstitute.orgNo Comments In Malcolm Gladwell’s book, an innovation or change can suddenly appear through small, almost incremental steps, none of which by itself is especially noteworthy. But the combination of these seemingly minor events can cause organizations to be shaken, countries to be impacted and people to break out of established behavioral patterns. What could not be accomplished in one grand wave of the baton is, in fact, being accomplished by different pieces of the puzzle coming together at just the right time. We are in the midst of such a sea change in the field of talent management. This new approach to managing companies and people has not yet become a clearly articulated science. There is still too much to understand and learn about the shifts occurring before us. But there is an emerging set of practices – especially as evidenced by industry-leading companies – that are moving talent management to its tipping point The changing business context The current economic environment sets the foundation for the reason that talent management practices have arisen in the first place. Bossidy and Charan (2004) have identified five different economic stages that have existed during the past century. Others have talked more generally about the movement from agrarian to industrial to the knowledge economy. Pink (2005) describes the next step as moving from the knowledge age to the conceptual...
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...with maximum efficiency. In the nonprofit sector, creating a competitive compensation and benefits strategy is important to attract talent, but developing a total rewards package may be more important. “Employees nowadays are looking at the whole package: ‘What’s my base salary, do I have incentives, what are my benefits, can I telecommute, can I have flex time, can I have a relaxed dress code and is it family-friendly?’” Glantz said. “[If] a not-for-profit can offer what’s considered an attractive total rewards package, [it’s] going to help that company.” The argument now is that these intangibles need to be measured and monitored, and subsequently tied to the bottom line. Re-defining the bottom to include intangibles such as leadership practices, organizational capabilities, and the ability to attract talented people is necessary. In addition, as organizations continue to automate business processes using technology, in order to remain competitive against others that are doing the same, they must now focus on their talent. Additionally, though talent can be cultivated and developed, it can also leave the organization, become sick, de-motivated, and perhaps influence others to behave in ways unfavorable for the organization. Worst of all, talent can deliver the “double-whammy” by moving to a direct competitor. The strategic management of talent as such a critical driver of corporate performance has become more and more important in the last few decades. Several key events have...
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...the growing popularity of talent management and over a decade of debate and hype, the concept of talent management remains unclear’ (Collings and Mellahi, 2009) This assignment will explore this statement by conducting a literature review of the current commentary on the definition of ‘talent management’. Furthermore the impact any lack of clarity around the concept of talent management may have on the national and international markets which organisations source ‘talent’ from and any impact of Human Resource Management practices in terms of employee retention and exit strategies being managed fairly and ethically will also be looked at. After careful analysis of the academic literature on talent management and what it actually is, it becomes apparent that there is a ‘fundamental lack of consensus’ about the definition of talent management. Despite various attempts of countless academics to define and describe the concept of talent management, there doesn’t seem to be any consensus on what exactly TM entails. Before looking at the concept of ‘talent management’ as a whole, one must look at the definition of ‘talent’ first to gain a better insight into this confusion and lack of clarity. Here are some examples of some definitions that have been put forward in recent years: * ‘Talent’ is essentially a euphemism for ‘people’ (Lewis and Heckman, 2006:141) * The best and the brightest (McKinsey in Beechler and Woodward, 2009:274) * ‘Talent consists of those individuals...
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...Discuss what factors emerged at Whirlpool that impacted its talent needs Whirlpool Corporation is the world’s leading manufacturer and marketer of major home appliances. According to Goldsmith & Carter the right talent was easily and readily available to help drive Whirlpool’s business, however there were a number of factors that impacted its talents needs. The first impact whirlpool had with its talent needs is the growth, size and scale of the business. This added a level of complexity that they were not use to handling, and in order to compete successfully within the marketplace, they would either need to train current employees or hire from externally. The second factor that coincides with the impact of their talent needs is the external consumer marketplace. This was a very demanding, fast-paced change and the creation of new products and services made Whirlpool realize that they were behind. Because technology was ever changing, in order to compete globally it was necessary for Whirlpool to start embracing this change as well as invent a new game plan. Discuss how expanding globally changed the talent requirements at Whirlpool Whirlpool realized that in order to expand globally they would not only need to enhance their technological resources, but also revamp their talent structure. In order to coincide with the external market place it was necessary for Whirlpool to make this change. The first thing they needed to address was their lack of technology. To accommodate...
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...-----------------------6-7 Inside Apollo------------------------------------------------------------------------------------------------8-9 The need for change---------------------------------------------------------------------------------------9-10 Talent management practice Findings----------------------------------------------------------------10-11 Apollo’s Induction program----------------------------------------------------------------------------11-14 Suggestions--------------------------------------------------------------------------------------------------14 Conclusion------------------------------------------------------------------------------------------------14-16 Appendix------------------------------------------------------------------------------------------------------17 References----------------------------------------------------------------------------------------------------18 Introduction Going forward, companies are faced with an array of challenges. They have to focus on costs cutting, evaluating and reevaluating business strategies and developing leadership competencies for top executives. To keep employees happy and for a company to thrive, employers must manage their talents; implement effective compensation and rewards strategies. Apollo Information Services, Inc. (AISI) is the largest medical coding and billing company in Southwest Florida. It is recognized in the community as a...
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...What is Talent Management? Talent management is a complex collection of connected HR processes that delivers a simple fundamental benefit for any organization: Talent drives performance. We all know that teams with the best people perform at a higher level. Leading organizations know that exceptional business performance is driven by superior talent. People are the difference. Talent management is the strategy. Analyst research has proven that organizations using talent management strategies and solutions exhibit higher performance than their direct competitors and the market in general. From Fortune 100 global enterprise recruiting and performance management to small and medium business eRecruiting, leading companies invest in talent management to select the best person for each job because they know success is powered by the total talent quality of their workforce. The Talent Age In 1997, a McKinsey study coined the term: war for talent. Now in the new millennium, we find ourselves in the talent age. During the agricultural age, the economy was based on land, a truly physical and very tangible asset. The industrial age followed with a manufacturing-driven economy. Higher business performance was derived through the most effective use of factories and distribution networks. The knowledge age moved the basis of economic value to information assets through integrated communications and computer technology. Now the competitive battlefront is for the best people because they...
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...Whirlpool Corporation 1—Factors Impacting Talent Needs There are several factors that emerged at Whirlpool that impacted its talent needs, and they are discussed in the following paragraphs: The first factor is Whirlpool realized the company was not developing existing talented or recruiting external talent to become more competitive in the dynamic global economy and diversifying workforce. The second factor is because Whirlpool was lagging behind its competitors’ because of an inadequate talent management program the company needed to recruit highly talented and trained personnel to update the organizations information system technology and business strategies to regain customer base and sustain a competitive advantage in the appliance industry. The third factor was the change in the appliance industry from an employer driven market to a talent management market, driven by global competition. The global demand for highly talented employees created a shortage of highly skilled candidate pool to recruit from. The fourth factor was the change in workforce demographics due to normal attrition, retirements, better compensation and benefit packages, highly talented employees relocating for better leadership opportunities. 2—Global Expansion There are several ways that expanding globally changed the talent requirements at Whirlpool, and they are discussed in the following paragraphs: The first way is develop a strategy to compete...
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