The impact of globalization and diversity on global talent management.
Globalization and diversity impacts global talent management in various ways. Global talent management has to include some practices to be effective. As a result of globalization and diversity, global talent management needs to include diversity management aspects, adopt competitive practices, and consider cultural differences. Additionally, globalization has enabled global talent management to have easier access to talents as more people have easier access to the global labor market (Hellmer, 2014). Globalization and diversity require global talent management to consider diversity in all their practices to improve organizational performance.
First, diversity requires the inclusion of diversity management aspects in global talent management. This involves ensuring that diversity permeates all global talent management practices. These practices include attracting, selecting, developing, and retaining talents. Without the inclusion of diversity in the practices, organizations end up selecting people who share similar institutional or cultural backgrounds (Hellmer, 2014). Some organizations even tend to promote those employees with similar backgrounds. This is despite the fact that having a diverse workforce is associated with improved performance. Today, diversity is forcing global talent management to consider diversity in all practices (Hellmer, 2014). This includes attracting and selecting people from diverse social groups. Different recruitment approaches are being considered to attract a more diverse pool of potential talents.
Second, globalization has increased competition forcing global talent management to adopt competitive practices. Competition in today’s global market has rapidly increased (Hellmer, 2014). This requires organizations to improve in terms of quality and embrace innovation. However, with the increasing competition, cost should be low. Organizations are required to quickly adapt and respond to the competition to gain and sustain a competitive advantage on a global scale (Hellmer, 2014). Therefore, global talent management must adopt practices that will enable an organization to beat the competition in the global market. Additionally, competition has led to increased compensation demands from local as well as international employees. This is especially so for employees in the global labor market. Workers have realized that the demand for talents is higher today (Hellmer, 2014). They have realized that organizations operating on a global scale require talents to succeed in a highly competitive market. As a result, they have increased their demands. In such a case, global talent management has to consider these demands to attract and retain talents.
Third globalization has enabled global talent management to have access to talents. As a result of globalization, more people are entering the global market. Talents from developing as well as the developed world. This is associated with the development of advanced technology which has facilitated the entry into the global market (Hellmer, 2014). Through advanced information technology, workers are able to identify job opportunities in foreign nations. There are also various platforms for applying for these jobs. For instance, workers in India can search for job opportunities in America. Then, they can apply for the positions through email making it easy for global talent management to access talents. This trend has made it easier for global talent management to access talents (Hellmer, 2014). Through best practices, they can attract and select the best talents in the market associated with improved productivity.
Fourth, globalization necessitates that global talent management considers cultural differences (Hellmer, 2014). As a result of globalization, the workforce is characterized by diversity. Organizations operating on a global scale are attracting workers of different genders, ethnicities, race, and nationalities. These people are beneficial to organizations as long as they possess the required skills and abilities (Hellmer, 2014). However, if cultural differences are not well managed in the working place they may lead to hostility which lowers productivity.
The global workforce is characterized by different cultural norms. These may affect how an employee relates to another (Hellmer, 2014). For instance, due to different cultural norms, some people may consider women unfit for some job positions. If such issues are not addressed, discrimination based on gender may be experienced affecting employee performance (Hellmer, 2014). To avoid such issues, global talent management must take into consideration cultural differences in the workforce. This includes understanding these cultures and influencing talents to embrace the differences associated with improved talent performance.
The role of global talent management in achieving organizational goals and objectives
Talented employees are a source of competitive advantage for any organization operating on a global scale. However, there is a high competition for the talents today emphasizing the role of global talent management. The following section discusses the role of global talent management in the achievement of set objectives and goals in an organization.
Aligning employees’ goals with organizational strategy
The first role is aligning employees’ goals with organizational strategy. Through goal alignment, global talent management enables an organization to clarify job roles of every individual employee. In addition, an organization is able to demonstrate the value of every employee. Global talent management aims at engaging employees in their work by aligning their goals (Schuler et al., 2012). This makes the employees more committed to achieving set objectives and goals. This is done by first communicating organizational objectives to all stakeholders.
Through goal alignment, global talent management ensures that everyone in an organization is working together towards set objectives and goals. Through goal alignment, the management is able to focus the efforts of employees on important organizational goals, have a clear understanding of their roles towards specific goals, and reinforces accountability for every stakeholder (Schuler et al., 2012). Therefore, global talent management serves the role of aligning and communicating organizational goals essential for achieving set objectives and goals.
Fulfilling staffing needs
Global talent management plays the role of fulfilling staffing needs. With the right employees, an organization is able to achieve set goals and objectives. Global talent management ensures that only talents are attracted and recruited to meet the requirements of every role. This is done by focusing on employees with the required abilities, knowledge, and skills. Such a workforce adds high value to an organization (Schuler et al., 2012). Right employees are able to tap internal as well as external information and turn it into useful information for achieving set organizational objectives on a global scale.
Global talent management ensures that they attract and select the most talented workforce in the market associated with the realization of organizational objectives and goals. The management also ensures that an organization has internal talent pools. This is a consistent and reliable source of talents within an organization. It is also a valuable factor in the process of succession planning especially when working on a global level (Schuler et al., 2012). Development of skilled and required talent pools ensures an organization has desirable skills for competing on a global scale. This leads to improved employee performance and eventually the achievement of organizational goals.
Employee training and development
Global talent management serves the role of training and developing talents associated with the achievement of set objectives and goals in an organization. Through training programs, global talent management ensures that selected talents raise their skills and discover new things required to achieve organizational objectives on a global scale (Schuler et al., 2012). Also, global talent management ensures there are development opportunities for talents in an organization. This supports the development of desirable skills resulting in improved performance and eventually the achievement of set objectives.
Global talent management serves the role of talent retention related to the achievement of organizational goals. Talent retention is essential for any organization operating on a global scale. This is considering that there is a high demand for talents and losing one to competitors mean losing important skills to rivals. Such a case would hinder an organization from achieving its goals (Schuler et al., 2012). However, with global talent management, various retention strategies are adopted which ensures that talents are retained and motivated leading to improved performance and achievement of organizational goals.
Such strategies include performance-based compensation and development opportunities. Global talent management ensures that there active management of the selected talents. They ensure that talents are looked after. They encourage organizations to support work-life balance, manage employee careers, and diversity (Schuler et al., 2012). They also encourage talents to share their skills for the good of the organization. As a result, talent performance is improved leading to the achievement of set goals and objectives.
Creating a good organizational culture
Global talent management creates an organizational culture that improves the performance of talents leading to the achievement of organizational goals. The management ensures that an organization has a culture that is engaging and supportive. This helps in attracting and retaining talents (Schuler et al., 2012). Global talent management also ensures that it creates a collaborative culture. This ensures that there is a flow of information enabling organizations to operate faster and with flexibility associated with the achievement of set goals and objectives. In addition to driving better collaboration, global talent management serves the role of providing tools that facilitate a collaborative culture which leads to improved performance.
Global talent management serves the role of internal alignment of all elements of a talent management system of an organization. This role involves aligning talent attraction, selection, development, and retention among others to all processes related to talent management on global scales including organizational strategy, organizational value system, and leadership philosophy (Nijveld, 2014). Through this alignment, a conducive and supportive working environment is created. An environment that ensures that all efforts are focused on achieving organizational objectives and goals.
The impact of global talent management on organizational performance
Global talent management has a positive impact on organizational performance considering that it provides organizations with a competitive advantage. The management ensures that employees are well-motivated and highly satisfied improving their performance as well as organizational performance. First, through talent attraction, global talent management creates a favorable working environment associated with improved organizational performance (Najm & Manasrah, 2017). During the implementation of talent attraction, global talent management focuses on providing fair wages and good working conditions. This is important to effectively attract talents.
The management also focuses on supporting work-life balance, social networking facilities, and employee training and development. They also assure employees of job security. These practices enable organizations to attract the right talents who are not only qualified but also experienced, and experts (Najm & Manasrah, 2017). By attracting the right talents, organizational get committed talents leading to improved organizational performance (Najm & Manasrah, 2017). Also, through global talent management, talents are poached from competitors which helps in improving organizational performance.
Second, through talent retention, global talent management impacts organizational performance positively. Talent retention for companies operating on a global scale has the greatest impact on organizational performance (Nijveld, 2014). For talent retention, various strategies are adopted which improve employee motivation associated with improved organizational performance. For instance, effective leadership styles, proper handling of employees, and competitive compensation systems are used as strategies for promoting talent retention (Najm & Manasrah, 2017).
These strategies serve as motivation sources for talents. Also, through internal recruitment policies, flexible working schedule, and monetary and non-monetary rewards, global talent management ensures that the workforce is well motivated and satisfied (Najm & Manasrah, 2017). This helps in retaining talents associated with improved organizational productivity. By motivating talents, global talent management improves their performance leading to improved organizational performance (Sajeewani et al., 2016).
Third, through training and development, global talent management impacts organizational performance positively. By supporting learning and development, global talent management ensures that talents have relevant skills. The practice ensures that employees remain competitive by improving their skills (Nijveld, 2014). Operating on a global scale today require that organizations remain competitive. This includes updating kills regularly. This is considering that the world is changing rapidly requiring better and improved skills (Najm & Manasrah, 2017). By supporting training and development, global talent management equips employees with new and improved skills associated with improved employee performance and eventually improved organizational performance (Najm & Manasrah, 2017). Also, career management supported by global talent management serves as a source of motivation for employees which improves their performance leading to improved organizational performance.
Lastly, global talent management improves organizational performance through internal alignment. This involves aligning processes related to talent management to organizational strategy, and organizational value system (Nijveld, 2014). This enables ensures that an organization has a working environment that is conducive and supportive. This kind of environment is associated with improved employee performance which impacts organizational performance positively (Nijveld, 2014). Therefore, practices adopted and implemented by global talent management improve employee performance which improves organizational performance (Nijveld, 2014). Practices implemented to attract and retain talents, and through training and development, global talent management ensures that talents are satisfied and motivated associated with improved employee performance and eventually improved organizational performance.