Far East Research Centre Hong Kong

SCHEMATIZING TALENT MANAGEMENT, A CORE BUSINESS ISSUE

(Study of the factors those impacts on talent management in the corporate sector of
Islamabad, Pakistan)

Schehar Bano (Corresponding Author)

MS Scholar, Iqra University Islamabad, Pakistan
E-mail: schehar@gmail.com

Dr. Muhamamd Aslam Khan

Associate Professor, Preston University Islamabad, Pakistan
E-mail: aslamnuml@yahoo.com

Qazi Habib Ur Rehman

MS Scholar, Iqra University Islamabad, Pakistan
E-mail: isb146@yahoo.com

Asad Afzal Humayoun

Phd Scholar, Foundation University, Islamabad, Pakistan
E-mail: asadafzal_aiou@yahoo.com

ABSTRACT

The present paper aims to integrate research on talent management with employee attitudinal
outcomes and organizational effectiveness. It will play a distinctive role in conceptualizing talent
management endeavors and their impacts on employee work engagement, turnover avoidance,
and value addition. The paper is based on a thorough literature review focusing on concept of
talent management, employee work engagement, turnover avoidance, and value addition. The
literature review was conducted by carefully studying research articles published in renowned
journals. Talent management and allied variables were thoroughly discussed in these articles. In
light of fifty five research articles and book chapters, we accomplish the process of canvassing
and synthesizing the core ideas that colligates into talent management. This process led to
ameliorate the conceptual ideas discussed in this paper. The paper conceptualizes talent
management and its effectiveness for organizations in present competitive business
environments. The study reveals that talent management has positive significant influence on
employee attitudinal outcomes and organizational effectiveness e.g. employee work engagement,
turnover avoidance, and value addition. We conclude that organizations, which are enthusiastic
for gaining competitive advantage over their business rivals, need to manage their talent in
vigilant and effective ways. This paper substantiates that the previous research on talent
management imparts in understanding the concept and its enhancement. Furthermore it human
resource light upon its impacts with some addition in existing knowledge. This finding is
valuable for both researchers and practitioners.

Keywords: Talent Management, Work Engagement, Turnover Avoidance, and Value Addition
Paper type: Research paper

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INTRODUCTION

Today's business environment wedges the role human resource plays with the organizations.
Human resource is playing its role as a strategic partner instead of supporting administrative
tasks in the organizations because greatest assets of the organization are its people. People
though belong to diverse backgrounds therefore possess diverse talents. So, this is an
organizations responsibility to effectively manage the talent of its workforce to achieve business
objectives. Industry is seeing many organizations are implementing integrated Talent
management processes. Talent refers to the ability of learning and its expansion to face and cope
with the new challenges of the dynamic environment. Talent deals with the forthcoming potential
instead of past tracks.

Talent management is of core to the vitality of the business to meet and exceed current as well as
future business strategies and goals. Framework of talent management proactively anticipates
and meets business talent demand which is necessary to successfully execute the business
strategy. It insights into the business strategy, then accordingly develops as well as retains prior
talent and attracting new talent to cope with the strategic needs in order to get best utilization out
of tools and processes to deliver talent management solutions.

The concept of talent management was derived from World War II (Cappelli, 2008), however its
strategic importance has been realized when McKinsey consultants group claimed the human
resource as War for Talent in late 1990s (Scullion and Collings, 2010). This war for talent
was prompted by the realization that talent shortages were increasingly becoming one of the
biggest human resource concerns for multinational corporations (Makela et al., 2010). Thus, the
organizations interested in maximizing productivity and effectiveness adopted systematic and
rigorous approaches for attracting, selection, development and retention of talented key
employees (Huselid et al., 2005).

Thus, find and retains the right person possessing exactly aligned talent is not adequate for
stepping in accomplishing a firm with competitive edge in market. A firm may also possess the
right configurations, procedures, systems and practices in place (Lawler, 2008). In order to
acquires the competitive advantage and adjoin the business requirements, firms need to reckon,
select and groom through training and developing their work force in such a way that ultimately
supports in achieving the organizational goals and out lays the clear career path line to the
employees. Organizations must be interactive and discuss their talent management programs
strategically with their work groups. Key terms, core concepts and implementation step by step
practices relating to talent management analyses and examines life cycle of talent management
from acquisition of talent to its retirement.

Talent management is increasingly a part of the corporate strategy for most of the organizations
and one does not needs to struggle in order to have access to the literature related to attracting,
development and retention of talent. Corporate sector has emerged with immense importance of
talent management. For example, CEO A.G. Lafley of worlds largest consumer company
namely Procter & Gamble claims that he spends one-third to one-half of his time in developing
talent (Holstein, 2005). In comprehensive reviews of the talent management literature, Tarique
and Schuler (2010) note that many studies have limited focus on human resource practices in

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context of recruiting talent management, leadership and succession planning development. In

order to establish its academic merits, Huselid et al., (2005) have argued that talent management
needs to be differing from other HUMAN RESOURCE approaches so that it may focus on
identifying the core positions those should be filled in with A performers.

LITERATURE REVIEW

Broadly defined, talent management encompasses the instrumentation of unifying strategies or

processes in order to enhance the output of a wok place by deploying ameliorate systems and
processes for attracting, development, retention and utilization of required skills and abilities of
work force and their aptitude matched with the current and upcoming business needs. Talent
management strategies centralize around five basic areas such as attracting, selecting, engaging,
developing and retaining employees (Perrin, 2003). It is generally concerned with practices
associated with developing strategy, identifying talent gaps, succession planning, and recruiting,
selecting, educating, motivating and retaining talented employees human resource though a
variety of initiatives (Ringo et al., 2010). Many authors regard talent management as a
managerial strategic priority of the 21st century (Farndale et al., 2010). Employees knowledge,
skills and competencies are an important competitive weapon, hence talent needs to be
maximized and recognized as one of the discrete source of organizational competitive advantage
(Collings and Mellahi, 2009).

The changing trends realized managers about the transformation of management focus towards
intangible capital management and sustainability in knowledge established environments and
economies those commits progress with less palpable factors instead focused on human capital,
social networking and organizational attitudes that positively takes organization towards success
and smoothly boosts the economy as well (Davenport et al., 2002). In knowledge oriented
society human capital is the well-nigh strategic resource in attainment of competitive advantage.
In 2002, Goshal & Bartlett claims that organizational executives are very much that executives
of the organization have become very much apprehensive regarding the right man such as
availability of the work force and with appropriate skills. Most of the researchers argued that
knowledge workers are a highly educated and qualified person who deals with the information
and its application in specific situations to create new knowledge and address solutions of
existing problems (Davenport et al., 2002). Skilled workers have abilities and talent to input the
ideas and expertise when organization is in need of the particular talent and comparatively easier
for them to execute new procedural lines in order to respond the change immediately (Lawler,
2008).

Success of organization is based upon the talent management in todays competitive

marketplace. Talent management is about the processes, systems and strategies and their
implementation of those unified strategies which are designed to enhance the productivity of the
workplace by developing the improved processes for attracting, development, utilization and
retention of skilled people matches with the current and upcoming business needs. It is widely
accepted that human resources adds value to the organizations. The most suitable way to attain
competitive advantage for organization is to keep human resource as a strategic business partner
in such a way that it improves the business performance. It is possible by managing the talent
effectively, associates it with the change management and adaptability of employees that how

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they respond to change. It not only considers the influencing strategy of the organization but at
the same time contributes with some value addition which impacts effectiveness (Lawler, 2008).

Talent management is striking for numerous reasons. Executives considers the value of talent
and its implication in organization and in this context they focused on organizational core need
such as workforce development for the upcoming challenges and talent management makes it
more enhanced while the left over individuals have liberty to choose their careers (Lawler,
2008). Talent management basically refers to the functional human resource management course
of action which supports the alignment and tracking and managing of high- worth personale or
"the talented" but the rest others throws light upon that how the talent should be recognized and
enlightened in the organization. The organization which is dealing with the management of talent
strategically and purposefully explains that how they attract, source, select, develop them by
trainings and ultimately retain them by promoting and rotating them throughout the organization.

Talent management is an approach and a process to view the things those entrust the talent
management. Talent management system not only works strategically as a part of overall
business strategy but also implements in the organizational routine processes throughout the
organization. It cannot be left exclusively on human resource department to attract and retains of
workforce instead it shall be proficient at all levels of hierarchy along the organization.
Aggressive recruit talent management of valuable employees still occurs, and the retention of
high performers remains critical (Smith, 2009).

Star performers are considered key asset of any organization, therefore attract special
concentration. Finding these star performers is not the only issue; a bigger problem is actually
what to do with them (Cohn et al, 2008). In talent management terminology, this is often referred
to as talent positioning that highlights the right talent at right time on right place with the
required competencies and inspiration at all levels and locations of the organization (Tarique and
Schuler, 2010). According to a survey of corporations, 76% consider talent management a main
concern. In addition to this 85% of human resource professionals of these organizations works
and manages directly by implementing talent management strategies (Fegley, 2006).

Dell and Hickey (2002) discussed the seven keys for effective talent management which includes
the development of a unified and consistent talent management strategy highlights concept of
"employer of choice that resulting in coherence of performance based culture than improvised
programs and the Rest of the impulsive involvement regarding the talent attraction and retention
are patronized with accountability management. One must be aware of the firm's overall business
strategic environment and plans, and also be aware of the competitive climate. The firm should
establish and thoroughly comprehend the plans for the enterprise's growth, merging, divestment,
new products or latest technologies that will immediately impact on the durable talent needs. In
addition, the company should know which specific factors those contribute in difficulties to
attract and retain talent. In fact, the firm should base their initiatives on the realistic and actual
apprehension of its employees. Rough estimates on the employee turnover period reveals where
retention problems exist, but not accurately what these are. However, it is vital to keep an
assortment of retention issues in a good poise, especially the mix of rewards and non-monetary
motivators. Another important period is the track turnover. At this point, it is important to be
acquainted with its costs and where they are supreme. Also, they should be conveyed to

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management in order to shore up the business case for talent retention. Last but not the least;
promote the firm and its brand not only to the outsiders but also to the existing employees
enthusiastically as to the outside market alcove.

Under the talent management category, the two most imperative business strategies that are used
to build up and maintain talent are leadership development and succession planning. Succession
planning involves preparing for the organizations next senior team, developing a talent pool for
internal recruitment of talent management by cross skilling employees, and/or ensuring the
organization is future proofed with respect to availability of skills (Hills, 2009). In the talent
management context, succession planning focuses on how the organization plans to replace key
knowledge holders and how to ensure that high potential successors have been prepared to fill
these key roles (Lengnick-Hall and Andrade, 2008). Succession planning that involves
continually recruiting, training and promoting employees is not only necessary to prevent a brain
drain of corporate knowledge, but is also important in identifying required competencies and
communicating needed skills (Jones, 2008).

Talent management needs to continue to train and develop high performers for potential new
roles, identify their knowledge gaps, and implement initiatives to enhance their competencies
and ensure their retention (Cairns, 2009). Hills (2009) suggest five strategies for effective
succession planning: 1) aligning succession planning with business strategy; 2) assessing
leadership potential based on the 3Cs of fit competence, connection and culture; 3) involving
talent in the succession planning process; 4) using a mix of experience, outside or executive
coaching and formal learning experiences in talent development and; 5) drawing from a wider
net of potential successors.

Failing to appropriately reward key knowledge holders results not only in them eventually
leaving the firm but also absenteeism, disruptive office politics, disengagement, and poor
productivity. Planning effective programs that include both monetary and non monetary
incentives requires an understanding of the organizations accumulated knowledge base and of
what motivates talent to come to work, to be productive and develop expertise. Several reward
and recognition models are adopted by organizations including traditional compensation
packages, executive compensation, flexible compensation, perks, and informal and formal
recognition (Inskeep and Hall, 2008). For some employees, recognition of their knowledge
activities may take the form of providing career development programs that match the
individuals career aspirations (Lazarova and Tarique, 2005).

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Theoretical Framework and Hypothesis Development

H1 (+) Work Engagement

H2 (+)
Talent Management Turnover Avoidance

Value Addition
H3 (+)

H1: Talent Management is positively associated with Employee Work Engagement.

Relationship of Talent Management with Employee Work Engagement

Although, this is commonly understandable that employees remain engaged with their work in
favorable work settings because they are paid for it, however, literature also hints that work
engagement comes from jobs satisfaction which in most cases is derived from effective talent
management practices. Effective talent management procedures and systems demonstrates the
commitment of talent management to human resources resulting in lower rate of employee
turnover with higher volume of employee commitment and engagement, Consequently,
employee engagement has significant effect on productivity or output of employees and in
retention of talent. Despite many citations of an organizational lack of proficiency in talent
management (Cappelli, 2008), a 2008 CIPD report the war on talent found that organizations
are now placing greater scrutiny on their talent management processes (CIPD, 2010b). Further, a
2008 Hewitt survey revealed that almost half of the companies studied planned to increase or
sustain employee learning, engagement and development budgets during the economic
slowdown (Beechler and Woodward, 2009).

Much has been written in the talent management literature on factors contributing to talent
engagement and retention. Tymon et al., (2010) research in India found that the key predictors of
employees intention to leave are satisfaction with and pride in the organization and perception
of the employer as being socially responsible. The previous studies reveal that corporate social
responsibility, which fosters employee engagement in social activities, is also associated with
work engagement. Other key factors include building trust and open communication channels
into the employer-employee relationship (Frank and Taylor, 2004) and fostering employee
engagement (Tarique and Schuler, 2010).

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Employee performance and talent retention can be enhanced by cogitation through incentives,
monetary benefits and rewards. Research studies related to employee engagement and
organizations success stories throws light upon the fact that employees who are entirely
contented/satisfied at their workplace was four times such like unsatisfied employees who are
having routine recognition as the workplace have formal employee appraisal processes.
Furthermore, 82% claims that recognition made them motivated to enhance their job
performance. According to the Corporate Leadership Council (2004), when done well, practices
that support talent management also support employee engagement.

H2: Talent Management is positively associated with Employee Turnover Avoidance.

Relationship of Talent Management with Employee Turnover Avoidance

Despite the wide spread studies on employee turnover, there are numerous resources which
effectively and expansively bridges over the scholar confirmations that concerns with the
employee retention and practices and efforts. There is wide range of reasons of employee
turnover which includes better salary, leaving an obnoxious supervisor, getting fired etc. All
these factors may take place when talent in not managed properly (Griffeth and Hom, 2001).
Although there may be shared characteristics and outcomes associated with each incidence of
turnover, there are different types of turnover, each with its own implications.

In the present competitive business environment, aggressive recruitment of talent management of

valuable employees occurs, and the retention of high performers remains critical (Smith, 2009).
This is because they contribute valuable addition to the organizational productivity. Therefore,
they are regarded as key asset. The turnover reduction of these positions or individuals may be
particularly important for organizational success; however, improving retention beyond a certain
point may present diminishing marginal returns (Boudreau & Ramstad, 2007).the research
highlights that dissatisfaction in job may not be the major cause of individuals turnover decision
(Lee et al., 1999). For example, research could uncover that the turnover decisions of a particular
subgroup of employees are more strongly influenced by certain issues or interventions (e.g.,
changing work-life balance policies and resources).

Finally, even if a firm endows considerably to retain its key employees, several employees would
leave even. Although some turnovers are avoidable, some turnovers will always be unavoidable
(Abelson, 1987). Avoidable turnover appears for reasons that the firm may be able to influence
such as low job satisfaction, poor supervision, or higher pay in other firms. For instance, analysis
of research portrays that decreasing turnover rates is connected to sales growth and improved
employee morale. Furthermore, research also unfolds that high standard human resources
practice contribute to the firm's profitability and market value in part by decreasing the
organization's turnover rates (Batt, 2002).

Research shows that organizational performance has significantly negative impact on employee
turnover with higher social capital (Shaw et al., 2005). In specificity, it is discovered that what
leads these employees to these other opportunities is that the pay level and pay satisfaction are
comparably delicate predictors of individual turnovers (Griffeth et al., 2000). To effectively

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develop and implement evidence-based guidelines for managing turnover requires knowledge of
underlying talent management principles and cause-effect relationships.

H3: Talent Management is positively associated with Employee Value Addition.

Relationship of Talent Management with Employee Value Addition

Employee skills and capabilities that adds varying degrees of value to the organization, hence the
everybody counts mantra (Lepak and Snell, 2002) is an overly simplified view of
organizational talent. Ultimately, this is where talent management differs from other human
resource approaches. Talent management is concerned with identifying the core designation
arrangements which have the prospective to differentially effects on the organizational
competitive advantage and consecutively, fill these with A performers (Huselid et al. 2005).

Effective talent management practices for identifying key knowledge workers involve initially
considering how individuals can help the organization to achieve its vision, mission and strategic
goals, and highlighting what skills and talents are required (Jones, 2008). Hence, the
organizations strategic direction determines which jobs and which employees are most
important to achieving success. To help ensure that the most appropriate talent is effectively
deployed the human resource throughout the organization, some researchers (Collings and
Mellahi, 2009) focus on those pivotal talent positions that may impact on organizational
competitive advantage. Talented employees are subsequently identified to fill those positions
human resource tough recruiting ahead of the curve. This is similar to the Exclusive Positions
perspective of talent management which seeks to fill A positions with A players, fill support
positions with B players, and outsource C players (Iles et al, 2010).

At the same time talent management endeavors to be an effective and organizational need based
on formal processes those involved several people who argued a strengthen linkage between
leadership and talent that interpret it into a specific organizational competitive advantage
(Morton, 2005). It is claimed that every employee on organizational hierarchy at any position
adds value to the organization in multiple ways, the assertion of talent management eventually
has only a small number have the prospective which provides an above-average effect on
performance (Boudreau and Ramstad, 2007). Certainly, it is claimed that the combination of
talent management along with knowledge management holds significant competitive edge and
implications for modern organizations (Vance and Vaiman, 2008).

There is extensive evidence available which shows that when knowledge workers need
information to solve a complex problem (Assimakopoulos and Yan, 2006), make a strategically
important decision (Cross and Prusak, 2002), or evaluate a new technology (Whelan et al.,
2010), they invariable turn to their personal contacts, even when a world class knowledge
management system is in place (Cross and Borgatti, 2002).

DISCUSSION AND CONCLUSION

Extensive review of the literature conducted through human resource this study reveals that
talent management helps organization towards identifying succession and talent gaps, planning

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goals, developing strategies for critical performance appraisal, average prior experience, skills,
average tenure, retirements and turnovers. Talent management is the distinguished key driver of
organizational performance. It enables the organizations to integrate their human capital
processes to address their urgent talent challenges faced by management. Talent gaps in a
business organization open doors for new recruitment, talent management for attracting future
employees. Previous talent in organizational accumulation encourages the already availability of
the required skills to attain the organization's short-term and long-term business goals. Talent
management is implemented on purpose as it is an orderly effort to support individual
advancement and ensures flow in key positions, including management, technical, and
professional specialist roles across the professional sectors of human resource. It is an essential
strategy that concentrates on many of the organizational issues such as increasing retirement
rates, advanced turnover, tight labor market, limited competitiveness, and fast-paced shifts in
working styles and routines.

Every organization today is interestingly concerned with selecting and retaining competent,
committed people who are exclusively known as knowledge workers. Knowledge worker refers
as a person who knows about the wholesome of his/her job than anyone else in the organization
(Iles et al., 2010). Top executive managers espouse more flexible and responsive human resource
practices to attract and retain these skilled knowledge workers (Mitchell et al., 2001).
Furthermore, participation and personal relationships support motivation of knowledge workers
as it raises their apprehensive self-determination and builds psychological contracts on the basis
of emotional loyalties, including trust, fairness, justice, and punctuality. In today's society, where
knowledge workers are regarded as a key asset, talent is rare and people are certainly more
mobile. Therefore, every organization has to establish and implement a strategy for optimizing
talent attraction, retention, and development. Other than recruiting talents that fit the required
skills, it is of high importance to build goals that are based on strategy, conduct performance
against these goals, and provide feedback to the performer to give a sense of common direction
(Lawler, 2008).

Our findings reveal that talent management initiatives seek to develop the talented employees
capacity so that they might remain engaged with their works to produce maximum returns. All
the levels of management must be updated with the vitality of talent management strategies that
specifically conduct the strategies. This helps an organization to identify and focus on new
competitive circumstances (de Pablos and Lytras, 2008). Work engagement is achieve human
resource through motivating employees. The encouragement is further supported if the pay is
also accompanied by social recognition or adds value to the procedures of self-development such
as feedback, coaching, job rotation, and provision of employee training and developing a unified
standard (Osterloh and Frey, 2000). Therefore, employees demand for motivation on continuous
basis.

Employee turnover was found certainly problematic and in some cases devastating for
organizations. However, turnover is a complex phenomenon that comes in many shapes and
sizes. It is not constantly destructive, and in several cases may even be beneficial for
organizations. Establishing and utilizing effective evidence-based guidelines and strategies for
refraining turnovers have many requirements. For instance, human resource managers have a
linked comprehension and structure for interpreting what turnover is and how it affects the

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organization. It is important to create an omniscient understanding that defines the types of

turnovers, understands the costs and benefits associated with them, and identifies the importance
of turnovers to an organization. As a result, many managers hold important misconceptions
about turnover. For example, many managers may believe that turnover is uniformly bad, that
most employees quit their jobs because of pay, that job dissatisfaction is the primary reason
people leave, that there is little managers can do to affect individual turnover decisions, or that
generic best practices are the best way to manage retention. These misunderstandings can be
harmful to organizations and to managerial authorities since they may lead managers to enact
unbeneficial strategies that fail to decrease turnover, that are not cost friendly, or even those that
encourage the wrong employees while eliminating the most productive ones. Human resource
managers need to implement more strategic roles to set up new organizational systems in their
organizations (Ringo et al., 2010).

Employers simply hire workers to take advantage of their skills because they are an excellent
source of value addition. In contrast, human capital is certainly the most strategic source of
competitive advantage in today's knowledge-based society (Barlett and Goshal, 2002), connoting
that firm leaders have become very focused on the issue of the availability and skills of
knowledge workers that is desired. Most practitioners and scholars agree that knowledge workers
are highly educated and are able to adapt to an environment where they must work with
information and apply their intellect in specific circumstances to solve problems and create new
knowledge, thus adding their value to the organizational productivity (Davenport et al., 2002).
However, managing their talent remains on the top priority. With respect to one aspect of their
talent, they require trainings to acquire new knowledge. Training solutions should be responsive
to dynamic competitive conditions and aligned with competency requirements. High quality
training programs help assess employee skills through human resource rating; identify required
competencies; develop skills, knowledge and attitudes; and improve performance (Abel, 2008).

In summary, all the organizations have realized the value of managing their core talent, and have
initiated new human resource practices which encourage the talent management as the top
priority which responds to the change or crisis arises due to enhancements in knowledge based
economic society. The major focus of talent management is on the attraction, deployment,
retention, development and utilization of talent and implementation of support structures like
information technology systems and performance management in the organization. Finally,
researchers highlight the consequences of talent management and suggested various strategies to
ensure the retention of key talent, employee engagement and value addition.

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