.png)
Introduction
Strategic resourcing and talent
management are two critical components of modern human resource management.
They involve attracting and retaining top talent, aligning business goals with
human resource goals, and ensuring the right people are in the right roles to
support organizational success.
In this article, we will explore what
strategic resourcing and talent management are and why they are important. We
will also discuss some of the key strategies and best practices for effective
strategic resourcing and talent management.
What is Strategic Resourcing?
What is Talent Management?
Talent management is the process
of attracting, developing, and retaining top talent in an organization. It
involves identifying high-potential employees and providing them with
opportunities for growth and development. Talent management also involves
creating a culture of learning and development that supports employee engagement,
job satisfaction, and retention. (Radhika Kapur, Feb 2020)
Michael Armstrong (2014) describes talent management using the talent management pipeline as shown below -
- Talent planning – process of establishing how many and what sort of talented people are needed now and in future.
- Resourcing – the outcome of talent planning are programmes for obtaining people within the organization (internal career development) or through external means
- Talent development – implementing learning and development programmes in line with the competencies of talents
- Talent pool – the resources of talent available to an organisation
Why are Strategic Resourcing and Talent Management Important?
Effective strategic resourcing and talent management are critical for an organization's success. Here are some reasons why:
- Attracting Top Talent: Strategic resourcing and talent management can help to attract top talent by creating an employer brand that is attractive to candidates. This can help an organization to stand out from competitors and increase its chances of hiring the best candidates.
- Retaining Top Talent: Talent management strategies such as career development and succession planning can help to retain top talent by providing employees with opportunities for growth and advancement. This can increase employee engagement and job satisfaction and reduce turnover rates.
- Supporting Business Goals: Strategic resourcing and talent management help to align human resource goals with business goals. This ensures that the right people are in the right roles to support organizational success.
Strategies and Best Practices for Effective Strategic Resourcing and
Talent Management:
Here are some key strategies and
best practices for effective strategic resourcing and talent management (Collings,
D. G., Wood, G. T., & Szamosi, L. T. (2018) :
1.
Develop an
Employer Brand: Developing an employer brand that is attractive to top
talent can help to increase the organization's visibility and reputation as a
great place to work.
2.
Use
Data-Driven Approaches: Using data to inform recruitment, succession
planning, and talent management decisions can help to ensure that decisions are
based on objective information rather than intuition.
3.
Provide
Opportunities for Growth and Development: Providing employees with
opportunities for growth and development can increase engagement, job
satisfaction, and retention.
4.
Develop a
Succession Plan: Developing a succession plan ensures that an organization
has a pipeline of talent ready to step into key roles as needed.
5. Foster a Culture of Learning and Development: Fostering a culture of learning and development can increase engagement and retention by providing employees with opportunities to learn and grow in their roles.
Conclusion
Strategic resourcing and talent
management are critical components of modern human resource management. They
involve attracting and retaining top talent, aligning business goals with human
resource goals, and ensuring the right people are in the right roles to support
organizational success. By developing and implementing effective strategies and
best practices, organizations can create a culture of learning and development
that drives employee engagement, job satisfaction, and organizational success.
References
Collings,
D. G., Wood, G. T., & Szamosi, L. T. (2018). Human Resource Management: A
Critical Approach. Routledge.
Lepak,
D. P., & Gowan, M. A. (2010). Human Resource Management. John Wiley &
Sons.
Rathika
Kapur. (Feb 2020). Strategic resourcing as key aspect of strategic human
resource management. Research Gate
(Online). Available at
https://www.researchgate.net/publication/339041958_Strategic_Resourcing_as_Key_aspect_of_Strategic_Human_Resource_Management#:~:text=Strategic%20resourcing%20is%20a%20key,the%20complete%20utilization%20of%20resources.
Accessed on 02nd April 2023.
Prarthana Ghosh. (February 26, 2021). What is talent management?
Spiceworks (Online). Available at https://www.spiceworks.com/hr/talent-management/articles/what-is-talent-management/.
Accessed on 02nd April 2023.
Ulrich, D., & Brockbank, W. (2005). The HR value proposition. Boston, MA: Harvard Business Press
https://www.youtube.com/watch?v=o88-FAcErtE
Hi, The details on the article are very well explained. Specially talent management is crucial in a organization, there are employees with different talents and sometime the ability to make use of the talents to action is lacking. organization should be able to identify and provide a suitable opportunity to make use of the talents.
ReplyDeleteRightly said. Varying talents is an advantage to organisation which should be identified and made use of in the correct way. When employees feel that their talents are been used in the right way they become motivated and increase their loyalty towards the organisation.
DeleteVery interesting article Kabi .The world of HR is filled with lots of different specialisms and niches – something that makes it a popular area to work in for a lot of people.
ReplyDeleteTwo of the most popular niches that attract a lot of people to HR are resourcing and talent management.
Both resourcing and talent management offer fulfilling long-term careers in HR, so it’s well worth getting to grips with the fundamentals of how each role operates.
Great article on strategic resourcing and talent management! It's important to attract and retain top talent, and aligning business goals with human resource goals is essential for organizational success. I appreciate the clear definitions of strategic resourcing and talent management and how they differ. The talent management pipeline is a helpful visualization for understanding the talent management process. The strategies and best practices provided for effective strategic resourcing and talent management are also very practical and useful. Developing an employer brand and fostering a culture of learning and development are particularly important. This is an insightful article!
ReplyDeleteOverall, your article provides a good introduction to strategic resourcing and talent management, and offers useful insights and strategies for HR professionals to consider..
ReplyDeleteThe article provides a comprehensive insight into strategic resourcing and talent management. Strategic resourcing is about matching human resources to the strategic and operational requirements of the organization, and it is concerned with not only obtaining and retaining the workforce but also selecting and promoting the staff members suitable to the strategic requirements of the organization. The strategies and best practices suggested in the article align with Briscoe, Schuler, and Tarique's (2012) view that organizations must integrate their talent management and resourcing strategies with their business strategies to create a sustainable competitive advantage. The talent management pipeline model proposed by Michael Armstrong (2014) is also supported in the article, which emphasizes talent planning, resourcing, development, and building a talent pool. Finally, the article supports the view of Edwards and Rees (2011) that strategic resourcing and talent management must align human resource goals with business goals to support organizational success. Overall, the article is informative and useful for anyone interested in understanding strategic resourcing and talent management.
ReplyDelete"Great article! Kabilashini. The strategies and best practices mentioned for effective strategic resourcing and talent management are indeed valuable. However, it's important to also consider some potential challenges and limitations.
ReplyDeleteDeveloping an employer brand can attract top talent, but it's crucial to ensure that the reality of working in the organization aligns with the promoted image. Relying solely on data-driven approaches for decision-making may overlook the complexities of human behavior and potential biases. Providing opportunities for growth and development is essential, but it may be challenging to ensure equal access for all employees due to limited resources. Developing a succession plan requires accurate prediction and preparation, but internal competition and conflicts may arise. Building a culture of learning and development may face resistance and require significant investment.
It's crucial to be mindful of these challenges and address them proactively to ensure the success of strategic resourcing and talent management initiatives in the long run. Thank you for shedding light on these important considerations!.
(Collings et al., 2018)