A STUDY ON THE EFFECTIVENESS OF TALENT MANAGEMENT AT FALCON OILFIELD SERVICESP2 ABSTRACTTalent Management, is recognized as a systematic and a strategic level effort whereby a corporation focuses on sourcing of staff who are capable and of being defined at talent as per the corporation’s requirements, it also includes tasks of attraction, training retention and assisting movement of such staff throughout the corporation as per a defined framework where investments are made within the staff allowing them to be capable to effectively function within future roles giving them strategic priority.
In other words, talent management is seen as a science that is directly connected with the strategic perspective of human resources. Evidence-based research on talent management has recently confirmed findings that few strategies that underpin talent management can directly enhanced results of talent management to enable strategic performance. To examine and learn about such characteristics of effectiveness of talent management the study on Falcon Oilfield Services, was performed by examining a sample of 100 members who are part of its current talent management program in a close ended questionnaire was used to measure how effective talent management program and process was. The results on Falcon Services confirmed that the strong points of its existing talent management system is the fact that a successful link with the company’s corporate strategy goals have been created in pursuit of the desired level of talent outcome from the workers, that different developmental practices for those who are identified as talent have been created and emphasised in the talent management program and that skills audit is moderately used as a identification mechanism of those who have what it takes to be called as the talent within the company.
On the other hand, the key areas where the talent management program of Falcon Services was failing and was weak was predicted in the area where those identified as talent will not supported or empowered to fully participate in the talent -related rules that have been identified for them, the weaknesses of compensation practices that were not geared towards retention of talented members, the weak link between talent management and succession planning and also the limited efforts that the company put forward to identify new talent.Chapter 1: IntroductionResearch BackgroundWithin the modern-day competitive market, continuous competition for human resources continues to plague most of the corporation’s that exist. Consider an example that a corporation is competing in the market where the human assets of the other enterprise are much more professional and experienced (Wright, 2012). Certainly, this corporation will be well placed to perform better whereas the others will continue to struggle on the basis of weaker talent within their human resources as a consequence, most organizations tend to study and implement a myriad of different tactics that collectively assist in predicting and supporting the state where corporation can have better human assets. All of this is examined and brought forward and studies relating to talent management and its application across corporations (Collings, 2012).Talent Management is defined as managing the ability, competency as well as the power of human assets occurring within the enterprise. So, the basic concern is not just to hire the correct human asset.
But the basic concern is to identify out those hidden talents which have a lot of knowledge but haven’t attained a suitable platform to explore their skills. Essentially concern is to hire the best talents and these all could be useful for the success of the entity. So from the talent management, the concern is to attain the best out from the rest (Bhatnagar, 2007).It is well discussed and proven that know the fact that the success of an enterprise or entity depends on the people working in it. Their hard work and determination towards the enterprise leads to the fact that whether the entity would achieve success or not (Wright, 2012). Till now, there are many talent management techniques enabled in various entities. These techniques have all proved as very beneficial to make the entity reach new heights.
Further, it is necessary to place the various human assets at a correct designation so that a fruitful result can be achieved. But one should be consider the fact that deploying the worker to a wrong designation may even lead to the downfall of the enterprise. So, the basic concern is to choose the workers by considering the various eligibility criterions.
Thus, we may recognize the fact that the talent management is of no use until and unless the workers are deployed at their requisite designation (Lockwood, 2006).Some enterprises regard the process of talent management as ethically incorrect. But the enterprise benefitted by this process may regard it as the necessary element of any enterprise and vice-versa. So, in such a big competitive world, where all such enterprises are fighting out to promoted their sales and achieve success. In this aspect, indulging the concept of talent management is necessary. Also, as talent is necessary element of an enterprise and the concept of talent management and introduction of it in various enterprises depicts a never-ending war for people who are talented (Wright, 2012).Research RationaleTalent Management in the enterprise is not just hiring the best people in the enterprise. But it has a broader aspect and indulges various purposes like sourcing, hiring, developing, retaining and promoting them by fulfilling the requirements of the enterprise.
As a result, researching talent management means researching broader variables that need to be examined when the enterprise wants to attract the best workers for the enterprise. Essentially, apart from showing the link that talent management will have with a corporation’s performance, this particular research is also highly valid from the point of view that it specifies the exact series of factors and conditions that should be evident within talent management in order for talent management to be considered to be in a state of effectiveness. So the outcome of knowing what factors contribute to effectiveness of talent management processes will definitely be rather valuable to present other corporation with a view on talent management and how focus can be drawn on effectiveness. The research on Falcon Oilfield Services will therefore support knowing about talent management, knowing about what are the main effective point that should be their within a good talent management system. So, all HR students and similar researchers in the HRM field in Oman can understand talent management by the study on examination of a local Oman company to understand the end results.Research Questions• What are the ways in which talent management programs contribute to corporate performance?• What are the key characteristics associated with effective and complete talent management programs?• How can talent management programs be improved and enhanced to deliver better value from having talent management programs?Research Aims and Objectives• To examine the contribution made by talent management programs to Falcon Oilfield Services’ corporate performance.
• To analyse effectiveness of Falcon Oilfield Services’ talent management programs in detail.• To present recommendations to Falcon Oilfield Services based on established set of key principles of talent management.Limitations of the ResearchResearching Talent Management at Falcon Services, will be done by examining viewpoints of those human resources at Falcon Services who are covered within the talent management plan and therefore the results of this research on talent management is mainly supported from the express viewpoints and perceptions about the staff and employees. Limitation in terms of 125 members from Falcon Services being selected and their viewpoints researched would also be a critical element that validates the outcome.
Lack of understanding on part of employees regarding talent management or regarding the points that should be within its effectiveness may hold back the results or values and some staff may not understand HRM concepts or their educational background may not be sizeable cover up the research and points. Finally, some of the human resources at Falcon Services expressed a degree of fear regarding the fact that they are providing internal information regarding talent management at this organization and so their responses turned out to be guarded on certain levels regarding talent management outcomes. Chapter 2: Literature ReviewConcept of Talent ManagementTalent Management is defined as managing the ability, competency as well as the power of human assets occurring within the enterprise (Iles et al., 2010). So, the basic concern is not just to hire the correct human asset. But the basic concern is to identify out those hidden talents which have a lot of knowledge but haven’t attained a suitable platform to explore their skills.
So, the basic concern is to hire the best talents and these all could be useful for the success of the entity. So from the talent management, the concern is to attain the best out from the rest (Collings, 2012).Talent Management in the enterprise is not just hiring the best people in the enterprise. But it has a broader aspect and indulges various purposes like sourcing, hiring, developing, retaining and promoting them by fulfilling the requirements of the enterprise (Dowell, 2009).
Consider an example that an enterprise wants to attract the best workers for the enterprise. For doing the same, they need to attract those persons who have capability do make immense efforts for the enterprise. The main solution of the enterprise is not just to hire these people. This all can be well executed in the case when the human assets are recruited in the appropriate branch of the enterprise (Bhatnagar, 2007).
We know the fact that the success of an enterprise or entity depends on the people working in it. Their hard work and determination towards the enterprise leads to the fact that whether the entity would achieve success or not. Till now, there are many talent management techniques enabled in various entities. These techniques have all proved as very beneficial to make the entity reach new heights (Scullion & Collings, 2011). Further, it is necessary to place the various human assets at a correct designation so that a fruitful result can be achieved.
But one should be consider the fact that deploying the worker to a wrong designation may even lead to the downfall of the enterprise. So, the basic concern is to choose the workers by considering the various eligibility criterions. Thus, we may recognize the fact that the talent management is of no use until and unless the workers are deployed at their requisite designation (Lavelle, 2010). Some enterprises regard the process of talent management as ethically incorrect. But the enterprise benefitted by this process may regard it as the necessary element of any enterprise and vice-versa. So, in such a big competitive world, where all such enterprises are fighting out to promoted their sales and achieve success.
In this aspect, indulging the concept of talent management is necessary. Also, as talent is necessary element of an enterprise and the concept of talent management and introduction of it in various enterprises depicts a never-ending war for talent (Lavelle, 2010).Benefits of Talent Managementit may be recognized that talent management is a discipline and is as vast as being regarded as a HR function and a lot of initiatives are provided by the same to the people indulged in the enterprise (Iles et al., 2010). This all is further implied by considering the various characteristics of the enterprise. All the various enterprises in the market use talent management in their businesses to analyze the way success can be achieved within the enterprise.
It can further be made simpler by taking the interview of the human assets who further discuss on their strength and needs for achieving development at a rapid rate. Thus, the future needs of the enterprise can be easily visualized and all these needs can be achieved by proper planning and succession techniques (Dowell, 2009). The benefits attained form the same are stated below:? Right Person in the right Job: it may be noted that that a lot of people in the enterprise are fighting and competing for a particular designation. But the fact is that not each and every person is suitable as at that particular designation (Scullion & Collings, 2011). The person should be pass a test fulfilling the various criterions necessary as accomplished and necessary as attained while performing the job at that particular designation. Selection of the right person is done by the help of talent management. This further promotes the fact that the person is able to that job in which he’s interested. This all leads to positive outcomes too (Bhatnagar, 2007).
? Retaining the top talent: There are various changed occurring in the economy by the changes in time as well as the marketing conditions (Gutridge et al. 2008). To compete well in this market, the necessary thing is to have the top talented professional who are prepared for worst conditions and have the capability to provide the best in such conditions. The top leaders lead the enterprise and further inculcate the growth in various aspects.
Further, they introduce various innovations, development, and recruiting plans as well as programs for the human assets as well as the general people who compete for seeking the job in the enterprise. Thus, the vitally focus on the growth of the enterprise as well as the human asset too (Bhatnagar, 2007).? Better Hiring: The way any entity functions depends on the fact that what sort of a workforce is deployed in the enterprise. The best human assets lead asst outcomes. For achieving the same, the basic concern is to indulge various training, innovation, motivational programs should be initiated. Further, one can check upon the quality of the workforce by considering the training and Hiring assessments faced during the process of recruiting (Bhatnagar, 2007).
? Understanding Human assets Better: The assessment of the human assets gives an insight whether the human assets are working properly or not. Further, the points which motivate them can be determined and can be indulged in their working process for achieving the success (Lavelle, 2010).? Better professional development decisions: When an enterprise has recognized the area in which it has attained the utmost potential. In that case, their primary concern is to work in that particular area and make various decisions necessary for attaining utmost success (Gutridge et al. 2008). By doing so, they come up with various investment plans, development techniques, development, and training prerequisites for achieving different targets.
In doing the same, talent management has an crucial role as played (Dowell, 2009).? Not only this, a strong talent management culture shows the way enterprise functions smoothly and all the human assets are utilized efficiently. In all, if all the aspects of the talent management are fulfilled. Then, this all leads to a committed workforce who main motive is to achieve success in extreme conditions and making the enterprise to reach at heights of success (Gutridge et al. 2008).
Financial Benefits of Talent ManagementThere are various management policies made up. The function of all these policies in an enterprise is to make the business much easier. But the thing is that every policy has both pros as well as cons (Scullion ; Collings, 2011). Similarly, the concept of talent management which acted as a boon has both pros as well as cons. All the enterprises consider these facts before including any policy in their business. Before discussing the financial benefits of talent management, we can think upon various areas of interest (Lockwood, 2006). These are:1. It is identified that the enterprise generally ignore the facts when it comes to the management of the people.
2. Further, the management of people won’t occur in case of the pure capitalists.3. It is identified that the enterprises are achieving development at a rapid rate as compared to the rate, a talent is developed.
4. There is a scarcity of both talented as well as skilled workforces at any level in the enterprise.5.
There is a lot of competition and lack of skilled workforce. This all has led to the deployment of the less experienced and talented human assets and it directly affects the business entity.6. The retention of human assets is also common.It is further mentioned that the ability of talent is unable as competed with the increasing competition in the market. The requirement of the talented human assets is rarely fulfilled. Thus in this aspect, the business houses have broadened their interests so that they can get a cluster of talented workers (Dowell, 2009). By considering an example of a start up, we will identify that there is a high attrition rate.
Workers need to work at their extreme levels and they may even incur various financial losses. Thus, it has chances of much failure of the human assets aren’t much talented and deployed at appropriate designation. In this aspect, various forms and training, and other perspectives need as considered (Wright, 2012).This problem can even worsen if the above stated scenario occurs at a huge level and for a long time. Nonetheless, this all can be solved by the introduction of talent management.
The following facts need as considered.1. Compared to the existing human assets, the new assets cost 30-60 % more.2. Additional cost is faced in the form of training the new individuals in the enterprise.3. Not only this, the overall process of recruitment of individuals for the enterprise also requires the capital as invested for various recruitment processes.
Further, the enterprises need to look for various methods to develop better retention of the human assets. Thus, care of the performance management should be be taken.Talent Management Consulting/OutsourcingTalent management is recognized as the process necessary for achieving the success in the enterprise. Many innovations processes, facilities like the satisfaction of the customers, and many more are indulged in the business just to recognize the fact that it is necessary to have a positive reputation in the market. Further, the basic aspect and motive of an enterprise is to earn profit and that should always be checked at each and every stage of the functioning of the enterprise (Dowell, 2009).
But the fact is that till now all the enterprises aren’t aware of the talent management and haven’t introduced this system in their business. This all can be considered as alarming just because in a world full of lot of competition. It would be quite difficult for the enterprises to recognize the potential talents in their human assets which could lead to positive outcomes and may even lead to the innovations which could be highly appreciated within the market. For achieving all this, the concept of talent management should be be introduced in various enterprises. Not only this. The HR representatives aren’t happy with the state of the enterprises which lack talented human assets (Cappelli, 2008).
To face such a scenario, the basic step is to introduce the concept of talent management. This will make the proper functioning of the enterprise and all the steps in the development process of various goods and services will be executed by following a number of systemized processes(Guthridge et al. 2008).Till now, there are many talent management techniques enabled in various entities. These techniques have all proved as very beneficial to make the entity reach new heights. Further, it is necessary to place the various human assets at a correct designation so that a fruitful result can be achieved (Berger & Berger, 2013).
But one should be consider the fact that deploying the worker to a wrong designation may even lead to the downfall of the enterprise. So, the basic concern is to choose the workers by considering the various eligibility criterions. Thus, we may recognize the fact that the talent management is of no use until and unless the workers are deployed at their requisite designation (Cappelli, 2008).Talent management is recognized as the process necessary for achieving the success in the enterprise.
Many innovations processes, facilities like the satisfaction of the customers, and many more are indulged in the business just to recognize the fact that it is necessary to have a positive reputation in the market (Berger & Berger, 2013). Further, the basic aspect and motive of an enterprise is to earn profit and that should always be checked at each and every stage of the functioning of the enterprise. But the fact is that till now all the enterprises aren’t aware of the talent management and haven’t introduced this system in their business (Dowell, 2009). This all can be considered as alarming just because in a world full of lot of competition. It would be quite difficult for the enterprises to recognize the potential talents in their human assets which could lead to positive outcomes and may even lead to the innovations which could be highly appreciated within the market. For achieving all this, the concept of talent management should be be introduced in various enterprises. Not only this. The HR representatives aren’t happy with the state of the enterprises which lack talented human assets (Scullion ; Collings, 2011).
Some enterprises regard the process of talent management as ethically incorrect. But the enterprise benefitted by this process may regard it as the necessary element of any enterprise and vice-versa. So, in such a big competitive world, where all such enterprises are fighting out to promoted their sales and achieve success. In this aspect, indulging the concept of talent management is necessary (Guthridge et al. 2008).Positive Aspects of Talent Management ConsultingGenerally, the concept of talent management is introduced just because of the fact that the process is easier and assures a positive outcome in the functioning of the enterprise.
Not only this, all the process of development of services is made much easier and efficient. The biggest advantage of talent management is that it identifies the talents which can work efficiently in the enterprise and brig up new techniques and methods that can be applied for achieving various targets (Berger ; Berger, 2013).Negative Aspects of Talent Management ConsultingThough, talent management has a lot of advantages. But at times, we will experience that it has various disadvantages too. There are various risks involved while implementing the process of talent management. Thus, one should be be careful while implementing the process of talent management (Berger ; Berger, 2013). As the talent management id introduced in the enterprise.
For achieving the results, all the data should be analysed. Not only this, a lot of capital is spent in the process of talent management. Organizations generally introduce the concept of talent management in the extreme condition and it’s quite crucial for the companies to include the concept of talent management in such a situation which could lead either to the success or the downfall of the enterprise.Current Trends in Talent ManagementAccording to me, the various guidelines for the talent management can be specified as follows.? Developing human assets.
? Redeploying human assets.? Retaining the best talent.Thus, the focus of talent management is to develop the people who have a deep knowledge and skills as applied in the enterprise. Further, the human assets can be made talented by providing them special training. Talent management is also known as the human capital management and is recognized as an crucial component for achieving success in the enterprise. It includes various steps recruitment, selection, learning, training and development, competency management, succession planning etc. All these are very crucial and need as managed properly.
Talent management is now looked upon as a critical HR activity. The various trends involved in it are as follows.? Talent War: The basic concern is to come across the human asset who is talented enough to make new innovations and help up the enterprise to reach various heights. Thus in all, it is an crucial component and should always be checked and implied upon at different stages (Cappelli, 2008).? Technology and Talent Management: Technology has played an crucial role in the development of the people. They can be easily recruited and can up for various interviews just by filling up the online recruitment forms of various enterprises. Further, this all can be easily managed with an ease.
Nonetheless, the choice of recruitment is quite bigger (Scullion & Collings, 2011).? Promoting Talent Internally: Whenever a human asset is hired, he is provided with the desired training and skills necessary in operating the particular job. Overall, this process is quite crucial and should always be checked on. The next step in this is the development of the human assets and thus encouraging the retention of the human assets (Wright, 2012).? Population Worries Globally: If we consider the population gap and then we will realize that most of the population is either too young or too old.
This all is quite alarming(Wright, 2012).? Talent Management to rescue HR: The HR is also affected by the decreasing levels of the talented and the need of introducing the concept of talent management seems as the key step (Wright, 2012).How to Build an Integrated Talent Management StrategyFrom all the above study, it can be noted that that to achieve the success and lead the enterprise with different innovations, the basic step is to come up with different methods and strategies which will enable the workforce as resourceful and efficient for the smooth functioning of the enterprise. For achieving the goals, a proper talent management strategy should be be implied. This aspect is broadly considered by the HR consultations who consider the different aspect indulged in the functioning of the enterprise (Cappelli, 2008).In large corporations it can be identified that most of the top positions are left vacant because the enterprise lacks the talented people who can come up with new methods and techniques that could be used in the development of the enterprise. Thus, in all, it requires a comprehensive set of solutions. Further, it is identified that the people are made up with a lot of responsibilities.
At early stage, due to lack of experience and knowledge about the field creates a lot of problem. Thus, before joining, training regarding the same should be provided. In this aspect, the enterprise requires an integrated approach and this approach is quite necessary in HR functions to promote the business.
Some of the strategies are described below as provided by Berger & Berger (2013).? Aligning Business strategies with the HR strategies: The various strategies that need as included in the business can be made better and simpler by linking it with the human resource department which could add various blends in the same and help in achieving fruitful results (Wright, 2012).? Performance Planning and Evaluation: There is an integrated approach of the HR which determines the substantial ways for expanding the performance of the human assets and thus linking the growth and development to a greater extent.? Strategic Manpower Planning: It is identified that for the proper functioning of the enterprise and achieving the success, both the HR as well as the Business function need to work together for fulfilling the goals and various perspectives in this area. They can make up a record of all the requirements that need as fulfilled at particular time in order to fulfil the demands of the users and helping the enterprise to overcome the assigned targets.? Mapping your Talent: The main focus is on recognizing the talents that can work in the enterprise and give their potential to help the enterprise to reach heights of success. This all can be done by making various strategies in performing various tasks(Wright, 2012).
Factors Impacting Effectiveness of Talent ManagementBethke et al. (2011) argued that talent management strategies within corporations need to be centrally directed towards the corporate strategy because talent requires to be ultimately trained and developed directly as per corporate strategy to make the necessary human resources are available to suit the organizational needs. Moreover, they argued that succession planning system should be built into the so that each of these systems are able to feed of the other to ensure the desired true quality of talented workforce.On the other hand, Scullion & Collings (2011) argued that talent management practices and programs should contain measures that are aimed at attracting and retaining those who have been qualified or identified under the talent management schemes. They further added that successful talent management often needs the right kind of developmental practices, processes and tasks because talent needs to be sharpened and maintained as talent such that the tasks that they would be required for or the positions that they would be required for are consistently modified and improved so that they are ready to directly move into positions using their talent.
Wright (2012) suggested that talent management effectiveness is directly impacted by a confluence of multiple factors ranging from adequate compensation and reward-based strategies using which talented human resources could be motivated to remain with the corporation, the creation of a successful and effective organizational culture using which support and encouragement can be created towards talent identification and development, consistent empowerment and focus on worker development because only through consistent empowerment would it be feasible and possible that desired work results are created.Galagan (2008) predicted that the talented employees and their development within the corporation would be immensely shaped by giving them empowerment which was seen as a long-term measure of human resources being developed since empowering human resources to take decisions would mean that content development by actual work practices could be achieved. Chapter 3: Research MethodologyResearch, is a comprehensive general term used in context to investigation processes that are aimed at intellectual exercises and practical problem-solving using which knowledge pertinent to the universe is brought from the state of unknown into a known state.
Essentially, the scientific nature of research readily requires that the study on Falcon Oilfield Services and talent management should take place correspondingly to the extent that scientific approaches and practices to study and examine research value can be produced.Research DesignTalent management practices and processes at Falcon Oilfield Services, there state of effectiveness as well as the state of them making contributions to the corporation’s profit are considered as the core underlying and guiding purposes of researching Falcon Oilfield Services and its the perceptions of its human resources towards the impact of talent management as well as its effectiveness. On these grounds, descriptive research on talent management that is further developed using quantitative approaches seems highly plausible and effective because Falcon Oilfield Services being the epicentre of the research requires conditions specific to its talent management to be described rather than general. So descriptive research will make more sense because it centres on Falcon Oilfield Services and its unique case of talent management practices and programs. Evidently, quantitative research on talent management will be easy and feasible because it is a straightforward matter.Research Data CollectionThe current study on Falcon Oilfield Services and talent management practices and program, is primarily supported as a descriptive research and so fulfilling the objective and the formulated design can best be overcome by using a simple close ended questionnaire that has questions covering the present talent management program at Falcon Oilfield Services, the measures of its performance as well as measures of effectiveness to which it caters to the objectives of talent management programs.
(A) Primary Sources of Data: at Falcon Oilfield Services, it has already been decided to go ahead with the questionnaire as the elements and points of effectiveness in the talent management program of Falcon Oilfield Services would be evidently straightforward to the extent that all data can be captured about how managing talent brings performance also along with whether it has required dimensions of effectiveness.(B) Secondary Sources of Data: standard practices and measures of secondary data collection and application in research processes is directly enabled through journals, periodicals and textbooks because data collection is done and supported by valid measures of magazines and electronic sources that correspond with effective research results, magazines and electronic resources pertinent to Falcon Oilfield Services in which case internal documents at Falcon Oilfield Services may also be referenced as per the requirements.Research SamplingAt Falcon Oilfield Services, more than 225 human resources are covered within the existing talent management practices and programs. Essentially, since many of the conditions and presence of valid factors governing talent management will be known only by those who are participating in the process these 225 human resources are performing the essential bases or population of the research regarding talent management. Out of these 100 human resources of Falcon Oilfield Services will be selected and the tool for selection would be random sampling because it is not what the 225 employees as provided by a list directly obtained from the HR Department of Falcon Oilfield Services.Data Analysis and InterpretationAt Falcon Oilfield Services, the series of provided data on talent management can be effectively captured using graphs and charts as well as supported by descriptive discussion on what they sample talented human resources chose to the varied options that were available. The descriptive research on talent management means that descriptive design of data analysis using percentage is a guiding factor of response factor on talent management effectiveness and also caught factors or uniqueness will be provided so that analysis is supported at Falcon Oilfield Services directly by strong facts and objective numbers contained within the discussed framework. Chapter 4: Data AnalysisA1)Ultimately, talent management has to satisfy and deliver on the corporate goals through the structure use of talent and so it is essential that the processes of talent management are always linked up with the corporate goals.
41% Falcon Services participants said that the statement was significantly true and talent management connected with the identified corporate goals. 47% said it was slightly true that long-term goals and talent management processes have been connected successfully. 10% Falcon Services participants said it was untrue about processes and long-term goals being correspondingly pursued together where streamlined objectives and goals are pursued mutually and completely. 88% Falcon Services participants said that the processes of talent management are linked to the corporation’s long-term corporate goals thereby ensuring talented staff members would be there and also available as for the corporate requirements. A2)Succession planning is viewed as a means of process that has to be used with the talent management practices because they seek the same objectives of the staff members to fit requirements.
33% Falcon Services participants said that it was true about talent management and succession planning at the corporation being linked, 29% Falcon Services participants said that it was slightly true about talent management and succession planning. 35% Falcon Services participants said that it was untrue about the talent management processes moving in line with succession planning. 61% Falcon Services participants said that the talent management practices at the corporation interlinked with the practice is it used for succession planning so the dual outcome of developing talented staff members using multiple approaches is very evident at this corporation.
A3)Looking out for new talented staff members can always prove to be beneficial to corporate performance because the more the number of talented staff, the better the possibilities of the performance derived through their talents. 27% Falcon Services participants said that it was significantly true that there was a continuous record for new talents, 34% said it was likely to about continuous lookout for new talents. 35% Falcon Services participants said it was untrue that there was a persistent efforts towards new talent identification. 61% Falcon Services participants said it was true that talent management processes and programs at the corporation are continuously on the lookout for new individuals who can be characterized as talent and thereby consistently be supported under talent management.
A4)Once the corporation has identified the talented staff members, it would be most crucial that the staff members are retained back because already they have been recognized for their talent. 22% Falcon Services participants said that it was true that the corporation had schemes and practices that were intended to retain human resources identified at its talent, 34% said it was slightly true about the talent retention practices, 40% Falcon Services participants said it was untrue about talent retention practices schemes and the underlying processes of getting the outcome. 56% Falcon Services participants said that it was true that talent management schemes and practices at the corporation into different practices intended to retain those identified as talented resources and so it would be an element as to effectiveness of talent management to a small degree. A5)Once the corporation has identified the talented staff members, they should proceed to bring on different developmental practices so that those predicted as talent or supported in talent development. 42% Falcon Services participants said that it was significantly true about different series of developmental practices and tasks being set for the talented members, 48% said it was slightly true and that the processes comprise of different practices that are required for all members. 90% Falcon Services participants said it was true that talent management programs at the corporation of comprising of different series of developmental practices that are set for the staff members so that they are supported to improve and in as themselves from a collection of processes or areas. A6)Adoption of the right practices of talent management specially to identify talented staff members can be the difference between a successful program and an unsuccessful program for talent management. 27% Falcon Services participants said that it was true that skills audit was being used as one of the major tools for talent management programs and systems, 39% said it was slightly true about the use of skills audit, 33% Falcon Services participants said it was untrue that the company was not actually using skills audit as one of the major components of its approach to talent management programs as well as the systems, 71% Falcon Services participants said that the corporation routinely uses skills audit as a means of informing organization of individuals to be included within its talent management programs and systems such that it is clear the use of such systems are not always emphasised.
A7)Retention of the talented staff members at Falcon Services is of strategic priority and importance to the success of talent management practices because only when supportive conditions like compensation are available can talented members be retained. 26% Falcon Services participants said it was significantly true about compensation policies and systems being supported towards long-term retention of those who had talent, 28% said it was significantly true. 44% Falcon Services participants said it was untrue that the compensation policies and systems that are used are supportive. In total, a meagre 64% Falcon Services participants said that compensation policies and practices that are used are actually supported towards long-term retention of those who had been recognized as the talented human resources. A8)The performance of those characterized as core talents is of strategic significance and so performance management systems should be used to handle and manage performance contributions by the talented staff members. 28% Falcon Services participants said that performance management systems at the company are being used to develop and improve performance for higher job positions, 37% said it was slightly true about higher job roles and positions, 32% Falcon Services participants said that continuously developing and improving performance was untrue at the corporation. 64% Falcon Services participants said that the performance management system of the corporation handled and managed talented human resources continuously such that their developmental needs were identified for higher job positions and roles. A9)The consistent presence of employee empowerment techniques can be vital to help transition talented staff members between the roles after they have been supported.
24% Falcon Services participants said it was significantly true that employee empowerment techniques and practices are consistently identified developed and applied to support development and enhancement of the talent. 20% Falcon Services participants said it was slightly true about employee empowerment techniques and practices and the outcomes. 54% Falcon Services participants said that employee empowerment was a condition which was not present at the corporation and the statement was untrue.
44% Falcon Services participants said that employee empowerment techniques and practices are consistently identified, developed and applied to support development and enhancement of talent since empowerment enables them to take charge with a new positions. A10)Successful talent management needs to be fostered by supportive organizational culture and climate that has characteristics of being supportive, encouraging as well as facilitating talent identification and development. 41% Falcon Services participants said it was significantly true about culture and climate and the corporation being supportive and encouraging towards talent, 34% said it was slightly true about talent identification and development. 24% Falcon Services participants said it untrue that culture and climate was supportive or the fact that it was not supportive towards it continued emphasis on.
75% Falcon Services participants said it was true that the corporation was ensuring that organizational culture and climate is supportive and encouraging towards talent identification and development so that all tasks, decisions and practices revolve around building of talent. A11)Substantial delay or time consumption in the practice of getting adequate replacements for staff can have a sizeable effect on corporate performance if these are vital or talented staff positions that are lying vacant. 46 Falcon Services participants said it was significantly true that talent management contributes to corporate performance by reducing time and effort it takes to find competent replacement of existing staff members. 32% said it was slightly true about time reduction to find competent replacement, 15% said it was untrue about reduction of time taken to find competent talented replacements only due to talent management. 78% Falcon Services participants said that talent management contributes to corporate performance by reducing the time and effort it takes to find competent replacements of existing staff such that the performance level can always be maintained despite loss of talent.
A12)leaders and managers within a given corporation tend to all immense influence an impact upon the overall corporate performance because they lay and direct all resources including other staff members at Falcon Services. Under these conditions, 27% Falcon Services participants said that the processes of talent management are responsible for creating competed series of managers and leaders who can direct all corporate efforts towards the established goals, 59% said it was significantly true about such managers and leaders, 30% said it was untrue and unclear about contributing to management and leader development. 86% Falcon Services participants said that the processes and procedures currently applied for talent management have resulted in competed managers and leaders who influence in direct cumulative efforts that are made towards corporate goals. A13)Organizational culture is a very decisive variable found in most empirical literature confirming culture is a contributing factor that has main responsibilities for a good performance environment within corporations.
35% Falcon Services participants said that the application of talent management processes at the corporation is primarily responsible for creating a culture that is centered on employee development, 51% said it was slightly true about employee development being caused by these factors. 30% of Falcon Services participants did not agree about these causes and relationship with development. 86% Falcon Services participants said that it was true about application of talent management processes being responsible for creating an organizational culture that is very much rooted in the results of employee development to a large extent. A14)Individuals who recognise their value and contributions as elements of talented resources often seek out corporations that have active processes and practices of time management that can support them in their further organizational moment. 32% Falcon Services participants said that it was significantly true about the presence of talent management processes and programs as a necessary quality or element that attracts them to provide talented and capable work outcomes. 48% said it was slightly true about talent processes and programs. 80% Falcon Services participants said it was true that presence of talent management processes is quite necessary to attract talented and capable staff members to work at the corporation since these individuals are very interested in measures and methods of self-development.
A15)Those corporation’s human resources are mirror of the corporate goal requirements can be assured that their efforts will pay off and the corporate goals and objectives will be correspondingly achieved. 40% Falcon Services participants said it was significantly true about management processes being responsible for managing human resources with the corporate strategy, 32% said it was slightly true about the matching between corporate strategy and the requirements. 20% Falcon Services participants said it was untrue about the corporate strategy being realised through the consistent efforts of human resources. 72% Falcon Services participants said it was true that talent management processes are responsible for ensuring that the corporation has staff members as per the necessities or elements contained within the corporate strategy. A16)Corporations are able to retain or maintain performance when they retain the staff members especially those staff members who are on the list of talents to be managed and developed. 30% Falcon Services participants said it was significantly true that talent management processes were valuable and essential for retaining talents, 47% said it was slightly true. 22% said it was untrue that there was a positive and valuable effect about retaining talented staff members through the process. 77% Falcon Services participants said that talent management processes are playing a pivotal role in ensuring that those categorized as valuable and essential talents are retained meaning that the corporation gets to maintain performance.
A17)Being recognized as a talent and being placed under the talent management process at Falcon Services would be a sizeable and significant factor of recognition that a member has what it takes to be qualified as a talent within the corporation. 41% Falcon Services participants said that an intrinsic motivation would be created towards performance directly from talent management programs targeted at the corporate objectives, 52% Falcon Services participants said that it was slightly true about intrinsic motivation being derived from the aspect of being included within talent management processes. Only 5% held that they did not agree with such a corresponding effect on the recruitment.
93% Falcon Services participants said that talent management processes are creating an intrinsic motivation on part of inclusion within talent management program such that it is directly creating a supportive corporate objectives towards the goal recognition. A18)For talent management to successfully work and produce desired effects and results, continuous emphasis being placed upon talent and its focus is necessary. Importantly, 40% Falcon Services participants said that continuous emphasis and focus on talent management processes will assist seniors working with future leaders and managers using collaborative practices was significantly true, 43% said it was slightly true about future leaders and managers being collaborative towards talent management processes and practices as the final outcome. 15% Falcon Services participants said it was untrue about continuous emphasis and future leaders and managers being collaborative. 83% Falcon Services participants said it was true about continuous emphasis and focus on talent management processes and practices will lead to seniors working with future leaders and managers collaboratively. Chapter 5: Findings, Recommendations and ConclusionResearch Findingso 88% Falcon Services participants said that the processes of talent management are linked to the corporation’s long-term corporate goals thereby ensuring talented staff members would be there and also available as for the corporate requirements.
o 61% Falcon Services participants said that the talent management practices at the corporation interlinked with the practice is it used for succession planning so the dual outcome of developing talented staff members using multiple approaches is very evident at this corporationo 61% Falcon Services participants said it was true that talent management processes and programs at the corporation are continuously on the lookout for new individuals who can be characterized as talent and thereby consistently be supported under talent management.o 56% Falcon Services participants said that it was true that talent management schemes and practices at the corporation into different practices intended to retain those identified as talented resources and so it would be an element as to effectiveness of talent management to a small degree.o 90% Falcon Services participants said it was true that talent management programs at the corporation of comprising of different series of developmental practices that are set for the staff members so that they are supported to improve and in as themselves from a collection of processes or areas.o 71% Falcon Services participants said that the corporation routinely uses skills audit as a means of informing organization of individuals to be included within its talent management programs and systems such that it is clear the use of such systems are not always emphasised.o a meagre 64% Falcon Services participants said that compensation policies and practices that are used are actually supported towards long-term retention of those who had been recognized as the talented human resources.o 64% Falcon Services participants said that the performance management system of the corporation handled and managed talented human resources continuously such that their developmental needs were identified for higher job positions and roles. o 44% Falcon Services participants said that employee empowerment techniques and practices are consistently identified, developed and applied to support development and enhancement of talent since empowerment enables them to take charge with a new positions.
o 75% Falcon Services participants said it was true that the corporation was ensuring that organizational culture and climate is supportive and encouraging towards talent identification and development so that all tasks, decisions and practices revolve around building of talent.o 78% Falcon Services participants said that talent management contributes to corporate performance by reducing the time and effort it takes to find competent replacements of existing staff such that the performance level can always be maintained despite loss of talent.o 86% Falcon Services participants said that the processes and procedures currently applied for talent management have resulted in competed managers and leaders who influence in direct cumulative efforts that are made towards corporate goals.
o 86% Falcon Services participants said that it was true about application of talent management processes being responsible for creating an organizational culture that is very much rooted in the results of employee development to a large extent.o 80% Falcon Services participants said it was true that presence of talent management processes is quite necessary to attract talented and capable staff members to work at the corporation since these individuals are very interested in measures and methods of self-development.o 72% Falcon Services participants said it was true that talent management processes are responsible for ensuring that the corporation has staff members as per the necessities or elements contained within the corporate strategy.o 77% Falcon Services participants said that talent management processes are playing a pivotal role in ensuring that those categorized as valuable and essential talents are retained meaning that the corporation gets to maintain performance.o 93% Falcon Services participants said that talent management processes are creating an intrinsic motivation on part of inclusion within talent management program such that it is directly creating a supportive corporate objectives towards the goal recognition.o 83% Falcon Services participants said it was true about continuous emphasis and focus on talent management processes and practices will lead to seniors working with future leaders and managers collaboratively.
Recommendations for Improving Talent Management ProcessesTo begin with, Falcon Services should place more emphasis on a proactive series of succession planning programs and practices because succession planning can very well support talent management by providing a regular source of staff members at Falcon Services will had been consistently developed and supported to take up and perform much more evidently higher roles and responsibilities which ties in with the talent management concept that wants to develop talent who can respond to human resource requirements that Falcon Services will have. Here succession planning focused on those displaying characteristics of managers and leaders at Falcon Services will be well sufficient in creating the desired portfolio of members who can be used to support talent processes at Falcon Services.Falcon Services needs to give more recognition to the staff members qualified under the talent management programs and processes because such efforts of recognition of talent is a direct supportive factor of fulfilling the self-esteem needs that are in turn connected to the massless motivation theoretical constructs so therefore recognition of talented staff members will further enhance their motivation towards good and strong level performance as per the objectives that are set for them under talent management processes and programs at Falcon Services.Falcon Services needs to immediately target the point of empowerment, since the current rate and level of empowerment is very weak at Falcon Services such that many of the staff who are recognized as talent are not able to apply themselves in their new positions that have been given to them for developmental purpose because they lack the empowerment that is consistent with autonomy.
Therefore moving individuals as part of the talent management programming to higher positions without supporting them with desired autonomy and empowerment at Falcon Services will prove to be counter-productive as they would not be able to show correspondingly positive performance oriented behavior expected under talent management systems of Falcon Services.Falcon Services needs to support strategic level compensation decisions for those qualifying under talent programs because the current compensation structures are not at all competitive that can help to retain those who are known to be talented at Falcon Services. The failure of compensation as may mean that those qualifying as talented staff members may feel that they are inadequately supported or compensated for the capabilities and they may look for external opportunities which were largely lead to the failure of talent management processes at Falcon Services.ConclusionEver since the 1990s, contention amongst corporations and their human resource departments have consistently involved discussions on a war being waged between different operations in order to have the most adequately and suitably talented staff members. In this way, processes of managing talents have been widely proclaimed as a desirable objective since it would help to find the solution to many of the HR challenges that are found within the contemporary labour market especially one that incorporates multiple dimensions of competition not only for forms for market share but also competition for talented staff members has become a norm.
In fact, such trends and patterns of talent management being recognized as a consistent form and system of adding value by the collective series of talent oriented practices is seen as one that is rightly focused on supporting corporations in their quest of being populated by staff members who have qualities that make them to be remarked as talent.From a simple perspective, talent is a term that is correspondingly used to cover the entire series of capabilities and skills associated with the staff of the organization such that it makes them be able to deliver some superior level of work outcomes or performance outcomes. Talent management can therefore be interpreted as a result process where the efforts to primarily identify those who are liable to be considered as worthy incapable of being developed as talent and then engage in structured developmental, promotional and other corresponding effects that help in retaining the talent and supporting the movement throughout the corporation through structured talent management initiatives. Nonetheless, talent management to be successful and produce the outcome of talented staff requires certain essential is to be readily identifiable. In particular, a link to the corporate goals are required, a link with succession planning, continuously looking out for new talent, developmental activities, retention activities are all correspondingly required to deliver successful talent management.At Falcon Services, the strong points of its existing talent management system is the fact that a successful link with the company’s corporate strategy goals have been created in pursuit of the desired level of talent outcome from the workers, that different developmental practices for those who are identified as talent have been created and emphasised in the talent management program and that skills audit is moderately used as a identification mechanism of those who have what it takes to be called as the talent within the company.
On the other hand, the key areas where the talent management program of Falcon Services was failing and was weak was predicted in the area where those identified as talent will not supported or empowered to fully participate in the talent -related rules that have been identified for them, the weaknesses of compensation practices that were not geared towards retention of talented members, the weak link between talent management and succession planning and also the limited efforts that the company put forward to identify new talent. ReferencesBerger, L., ; Berger, D. (2013). The talent management handbook. McGraw Hill Professional.
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Wright, P. (2012). Six principles of effective global talent management. Sloan Management Review, 53(2), 25-42. Appendix: Research Questionnaire (A) Effectiveness of Talent Management Systems at Falcon ServicesThe processes of talent management at Falcon Oilfield Services are linked to the company’s long-term corporate goals.Talent management practices at Falcon Oilfield Services are interlinked with the practices that it uses for succession planning.Talent management processes and programs at Falcon Oilfield Services are continuously on the lookout for new individuals who can be characterized as talent and consistently developed.Talent Management schemes and practices at Falcon Oilfield Services include different practices intended to retain those human resources identified as talent and resourcesTalent Management program at Falcon Oilfield Services comprises of different series of developmental practices and tasks that are set for the members.Falcon Oilfield Services routinely uses skill audit as a means of informing the organization of individuals to be included within its talent management programs and systemsThe compensation policies and systems that are used at Falcon Oilfield Services are supportive towards long-term retention of talented human resources.Performance management systems in place at Falcon Oilfield Services the talented human resources to continuously develop and improve performance for higher job roles and positions.Employee empowerment techniques and practices are consistently identified, developed and applied to support development and enhancement of talent at Falcon Oilfield Services.Falcon Oilfield Services ensures that the organizational culture and climate is supportive and encouraging towards talent identification and development.(B) Contribution of Talent Management to Corporate PerformanceTalent Management contributes to corporate performance of Falcon Oilfield Services by reducing the time and effort that it takes to find competent replacements of existing staffTalent management processes and procedures at Falcon Oilfield Services are responsible for creating competing series of managers and leaders who can direct all corporate efforts towards corporate goals.Application of talent management processes at Falcon Oilfield Services is primarily responsible for creating an organizational culture that is centred on employee development.Presence of talent management processes and programs is necessary to attract talented and capable human resources to work at Falcon Oilfield Services.Talent Management processes and practices are responsible for matching human resources directly to the corporate strategy of Falcon Oilfield ServicesTalent management processes at Falcon Oilfield Services play a pivotal role in ensuring that those categorized as a valuable and essential talents for the entity are retained.Talent management processes at Falcon Oilfield Services create an intrinsic motivation on part of included within its talent management program to support corporate objectivesContinuous emphasis and focus on talent management processes and practices will assist seniors working with future leaders and managers collaboratively.
