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Five Principles of Global Talent Management

Talent Management

With the expansion of modern businesses, the scope of talent management teams has expanded greatly, and this has also led to additional responsibility on the shoulders of the higher level professionals who now find themselves at the core of a key part of their own success. While it is important to develop its core operational functions in infrastructure, strategy must evolve as well to accommodate for its change in work process and organizational culture. These all deeply affect recruitment decisions, talent management strategy and to navigate this complicate landscape, institutions from around the world have been working hard to promote the research being done into organizational strategy and how it can impact the workplace.

The MIT Sloan Management Review published material formulated by a coalition of educational institutes that have invested greatly in the industry and work for the sake of its benefit. This includes universities like Cornell, INSEAD, Cambridge, Tillburg, etc. In collaboration, their research has allowed the academic journal to publish an article that charted out six core principles of strategy that are essential to maintain alignment with core business strategies alongside helping office culture grow. Sometimes, specific decisions with regards to process and infrastructure are present only because of the context in which those decisions are made which help the organization run as it does. Talent management solutions must strike a balance with their strategy inputs to accommodate for these factors as well.

1. Alignment with Strategy– The first question that needs to be answered here is how do talent recruitment decisions sync up with organizational strategy. This is important as a company is only as good as the people they are able to hire and retain to achieve these objectives, so to facilitate this, hires are taken in order to help fulfill immediate business objectives, and fulfill workforce deficits in order to fill in the skill gaps in the overall organization.

2. Decision Taking Consistency– The practices of the talent management department must make sense in the context of the rest of the organization. Factors like recruitment and development largely depend upon organizational needs and the department must not attempt to experiment out of the context of the organization with core competencies like this. Investing in high potential interviewees, incorporating graded payment structures, and career management, etc. are all affected by various factors when taking the decisions of the talent management team into account.

3. Cultural Identity– While reaching objectives require efforts that depend on core competencies of the work force, there is no substitute for lasting, meaningful success like company values, ideas and identity. Assessing these factors is a key part in helping the workforce grow in size, and qualitatively. Diverse professionals placed correctly under the right leadership can help take the organization to the next level with their practices and relationships.

4. Management Involvement– While much of the upper management concerns itself with strategy and implementation, it has become imperative for high ranking C-Suite executives to contribute to talent management decisions to make their needs and opinions known. While it is the core responsibility of global talent management professionals, senior management influence these decisions regardless, and should play a proactive role in selecting employees to share the responsibility.

5. Brand Identity in Job Market– Any international market is a two-way street, and the nature in which companies value their hires shape their identity in the international job market, and this must be a decision made by the organization to attract the professionals that they deem are right for them. Maintaining a coherent brand identity in terms of hiring policies and employee development will help form a consistent approach toward progress by starting out on the right foot.

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