TALENT MANAGEMENT AND CAREER DEVELOPMENT

Talent Management and Career Development



Table of Content

Introduction3

Discussion and Analysis4

Human Resources Management and Talent Management6

HR and OD Evolution and the Role Confusion that Followed7

Career Theory and Concepts8

Aspirations and Expectations8

Career Transitions and Adaptability9

Talent Management Demands the Best of Both HR and OD10

Talented People and their Characteristics11

Integrated Talent Management Domain (where HR and OD intersect)12

Career Patterns12

Professional Issues: Summary and Conclusion13

Conclusion13

References15

Talent Management and Career Development

Introduction

These are indeed exciting times for HR and OD practitioners and the organizations they serve because the business and socioeconomic implications of managing talent have never been so well understood, measurable, or vital. There are immense opportunities for HR and OD professionals to collaborate and lead the formulation and execution of winning talent management strategies in their organizations. The demand for strategy-based talent management has never been greater. Senior management, boards of directors, analysts, and investors often factor a company's talent management maturity and the quality of its workforce into the valuation equation. Considering that staff costs including salaries and benefits comprise a very large percentage of most companies' overall spending, it is vitally important to run talent management like a business in order to drive maximum return on investment in people. In this assignment, we focus more on what the actual work is rather than who should deliver it. The fact is that who has responsibility for the different elements of talent management varies from organization to organization. By focusing on the work to be done or HR and OD domains, it is our hope that business and HR and OD leaders will have a guide to help them define roles, responsibilities and structures that best suit and leverage their organizations' values, vision, mission, and strategy. Our goals for this assignment are to: 

Examine examples of the current role confusion and overlap between HR and OD practitioners when it comes to practicing talent management.

Review the strong business case for talent management and position it as the only potential sustainable competitive advantage that a company can develop. 

Explore opportunities for HR and OD to collaborate and use their valuable interdependencies and complimentary skill sets, knowledge, and roles to leverage their unique purview of the whole organization and have an impact on the whole system level. We propose a structure to more clearly define the separate domains of HR and OD work and the area of overlap we call integrated talent management. 

Introduce a conceptual yet practical model of integrated talent management that helps HR, OD, and others work together more effectively and realize synergies created by their complementary strengths and capabilities

Organisations that wish to secure and retain talented employees should have appropriate procedures and structures in place to attract, engage, recruit, develop and retain talented employees in accordance with a talent management vision and strategy. A critical question, however, is who should shoulder the primary responsibility for the development and implementation of such a talent management vision and strategy. In answering this question it is important to consider the interaction between executive leadership, HR management and line managers in the talent management ...