Mgmt 4420 Essay Example | Topics and Well Written Essays - 750 words

Mgmt 4420 - Essay Example The impact of global pressures on the talent can include a drop in employee engagement, destruction of company reputation or brand, acute shortage in workshop productivity, delayed retirement, and organizational restructuring. Uncertainties create problems Employee turnovers increase and the pressure to reduce costs emerge on the horizon. However, these responses do not consider the long-term consequences. For businesses to survive given the global external pressures, innovations are necessary and the keys to innovations are the talent. In other words, global pressures require innovations for companies and firms to survive the pressures. At the same time, talent management is key for the required innovations for business survival. Some of the key questions that become more important in talent management are as follows: Clearly, the above questions are the key questions in managing the talent. Good talent management will enable the firm to position itself for survival, advantage, and growth. Good talent management that enhances positioning for survival imply workforce rightsizing, labor cost optimization, improvement in operational efficiency, and doing the basics. Good talent management that promotes positioning for advantage should imply measures that promote accelerated innovation, creation of new operating models, upgrading of critical skills, talent acquisition, flexibility in strategy, and rapid engagement and alignment. Finally, good talent management that results to positioning for growth should imply the following: Thus, talent management is a strategic imperative for business firms (Lubitsh and Smith, 2007, p. 6). The discussion of Cheese et al. (2008) is consistent with what we have discussed in the course. Talent management is about retaining the best talent. We have to selectively retain the talent we need. We ought to fire some if a talent does not have a good fit with the business organization (Hedger, 2007, p.