Academic journal article Review of European Studies

Talent Management and Knowledge: Theory, Methodology, Models

Academic journal article Review of European Studies

Talent Management and Knowledge: Theory, Methodology, Models

Article excerpt

Abstract

Talent management involves the practice of continuously discovering, developing, using and retaining those people in an organization, which are especially valuable either in terms of having a great potential for the future of the organization, or because they are capable of resolving business and operational issues which are critical for the company. The knowledge management system includes all of the interacting and interdependent elements that pertain to monitoring and controlling knowledge (including processes, databases, supporting software, organizational structures, etc.) and that participate in allowing the company achieve its goals.

Keywords: talent management, human resource management, talent management effectiveness assessment, talent acquisition, talent development, storing the knowledge, supporting knowledge exchange, creating knowledge, evaluating knowledge, using knowledge, selling knowledge

1. Introduction

1.1 Introduction the Problem

Talent Management (Eng. Talent management)-a set of tools of personnel management that enable organizations to attract, retain and effectively use staff who make a significant contribution to the development organizatsii. Termin talent management, which emerged in the 1990s, encompasses activities personnel management to involve employees in the innovation process, the formation of creative stimuli and develop the creative potential of employees.

Knowledge Management (Eng. Knowledge management)-a systematic process by which are created, stored, distributed and used the basic elements of intellectual capital needed for the success of the organization; strategy, transforming all kinds of intellectual assets in higher productivity, efficiency and new value.

1.2 Importance of the Problem

Learning organizations use the concept of talent management. This is a system of managing personnel in order to build competitive advantages by focusing on monitoring, developing, using and retaining talented workers who can effectively resolve complex business issues and who are able to grow into managing positions.

2. Relevant Scholarship

The term "talent management" was first introduced in 1997 in the book titled "The War for Talent" by McKinsey consultant Elizabeth Axelrod, Ed Michaels, and Helen Handfield-Jones (Bellinger, 2013). They analyzed the results of a large volume of research performed by the McKinsey group to determine who relationships with employees affect the success of a company. Using reliable research material, the authors convincingly demonstrated that successful companies do not only improve the procedures and regulations governing human capital management, but themselves prove to be highest sought commodities on the labor market, because they do everything possible to attract, develop and retain the most talented workers at all levels of the management hierarchy. In this specific case, "talent" refers to the ability of the employee to reach exceptional results which are acknowledged and awarded by the owners, managers and consumers. Talented people are the ones who can change the operations of the company either by making one major contribution to the company, or by performing high quality work and expressing potential over a long period of time. If an employee's talents are not needed, the risk of his leaving increases dramatically, which in turn may adversely affect the company's competitive edge (Davenport, 1994).

3. State Hypothesis and Their Corresponding to Research Design

The main goal of talent management is to help the company become a highly effective and self-sustaining organization which emphasizes a quick reaction time and strict adherence to its business goals (University of North Carolina at Chapel Hill, 2007).

4. Method

Talent management as a process can be understood as a cycle with the following components:

- Talent management strategy (planning)

- Recruiting

- Effective management

- Training and development

- Planning of achievements

- Leadership training

- Motivation

The concept of talent management is grounded on developing an employee in order to find and reveal his or her potential. …

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