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  • Subject area(s): Marketing
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  • Published on: 14th September 2019
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   Talent management is one of the main key drivers of strategic HRM in organisatios (Sandler, 2006). Organisations think that they will have a loss due to the increasing level of retirement (Foster, 2005). Plus it with the going-down numbers of the young workers, and it is obvious that there will be a lack of  ‘talent'  in a few years. Nowadays, the major points of psychological contract has changed, for example, employees have more possibilities to choose their employers based on life views, the level of "employee voice" that they will have in organisation, its diversity situation and the atmosphere in a workplace in whole (Berger, 2004). It's very difficult for a company to "control" a professional and realy unique employee, because such a talent is an investor of its own knowledge, intellect and emotional capital and can decide what is more suitable for him (GratTon and Ghoshal, 2003). Because of  the influence of new styles of entrepreneurship and new models of phsychological contract, only companies that can use all their key resources can become really great (Schweyer, 2004). These organisations have 3 main questions: firstly, they ask who, secondly, they ask what, and finally when. If the right workers are in the right places then organisations can go forward in achieving  their goals (Collins, 2001). Moreover, the other theory shows that it is not the key to success to find the right people on the right place, but it is more important to find the superior leaders for each position (Hoogheimstra, 1992). To sum up, the  strategy of an organisation should be absolutely balanced with the people who drive the company to success, because both points are improtant (Collins, 2001).  The human capital of a company has a crucial role for the survival and success of any organisation (Schweyer, 2004). What is more, Carreta (1992) states that the chance to have a good career in a company for a worker is a strong motivation. This situation creates a necessity for an "approach" that can help these processes to function, and this approach is a Talent Management. Finding, identifying, attarcting and saving those key performers that have the most important competences of the organisation, who can motivate their colleagues, control the work process and drive the whole company (Berger and Berger, 2004). If an organisation will find and develop their talented leaders, the company will have a great competitive advantage on a market (Branham, 2000).  So, I am going to discuss the contribution that Talent Management can make in developing future leaders within the organisation. I will try to critically evaluate  perspectives of a role that talent management plays in this sphere. Approximately 20 years ago, HRM was only a matter of salaries and costs and employee turnover (Michael, 2006). Nowadays, HRM is one of the most important processes in a company, which helps to build an organisation's competitive advantage with a help of strategic approaches, different techniques and ways of developing highly educated and competent workers. And over the last five years, one of the most discussed concepts have become Talent Management (Sandler, 2005). In my research I will highlight three main parts, which, in my opinion, will help me to undesrstand more deeply the importance of this concept and its influence on HRM: defining TM, competitive advantage, finding talents."Talents" are the people in the organisation who are acting as a leaders, achieving goals, inspiring others to improve their performance and  who drive the company forward (Hansen, 2007). According to statistics, only a small percentage of employees can be defined as a talents (Berger & Berger, 2004).  To function in a right way Talent Management should be very  systematic  and holistic and should be interconnected with other  functions and processes in a company, it must be  linked to organisational context and  strategy (Cunningham, 2007). Talent Management needs to be connected with all the departments of a company, not only HR (Laff, 2006; Uren, 2007). If Talent Management will only be controled by HR department, it will be very limited and far from market, and will not have chance to make some sighnificant changes. Nowadays, a lot of researchers are trying to decide who should be responsible for managing Talent (Laff, 2006). Some researchers claims that marketing departments (Ulrich, 1997), other that Talent Management departments  should be created separately from the HR department (Laff, 2006). Also, there is an opinion, that TM should be managed by the HR department, executive staff and other organisation's departments together (Pollitt, 2004a; Laff, 2006).

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