The Role of Talent Management Comparing Medium-Sized and Large Companies – Major Challenges in Attracting and Retaining Talented Employees

Abstract

In order for companies to realize their organizational visions, they need staff who are high-potential and looking toward the future. Due to the demographic, social and economic situation in Europe, the labor market is already reflecting a lack of high-quality human resources (HR), which inspires research into and planned management of high-potential, i.e., talented, employees. Companies are aware that only those organizations that recognize this area as crucial and invest resources into it will be successful in the “war for talent.” The purpose of the study was to research the field of talent management from the perspective of the definition of what the talent management process means for companies, how to attract and recognize talented employees, what development activities to provide them with and how to measure their performance and progress. We employed an exploratory approach, using the method of semi-structured interviews to gather information from 21 HR professionals who work at medium-sized and large Slovenian companies. We found that these organizations use various approaches and activities to attract and develop talented employees. At two thirds of the companies, performance is measured using annual evaluation interviews, by measuring the meeting of targets and evaluations by superiors. The biggest challenges in the field are attracting talented employees and positioning the organization as a desirable employer. The study is useful primarily as an overview of the field and of best practices, which companies can use to argument their existing processes.

Responsible talent management: towards guiding principles

“…Most people are around the average -68 per cent are within one standard deviation of the mean. A recent survey found that on average firms following an exclusive approach classified seven per cent of their employees as talented (Boštajančič and Slana, 2018). One of the difficulties with this approach is that in organizational contexts, unlike sport or music, it is not clear what the domain is in which talent is being measured.…”

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“…La gerencia estratégica define la formulación, ejecución y evaluación (Fayol,1971;Serna, 2008), de acciones que permitirán a la organización el logro de sus objetivos (Delgado, 2011; Cuesta, 2015), impactando sistémicamente las acciones ejecutadas por el talento humano (Mendoza, 2015;Fuentes y Cordón, 2016). Organiza cualitativa y cuantitativamente la toma de decisiones efectivas (Chiavenato y Sapiro, 2017), minimizando la incertidumbre ante cambios bruscos e inestables del ambiente, de acuerdo a criterios y análisis pertinentes (Dirani 2018;Fred 2018), con la capacidad de influir y ejercer el control en su medio natural, sincronizando activa y efectivamente las áreas funcionales del trabajo, generando valor agregado a la cadena socio productiva empresarial (McDonnell et al, 2017;Boštjančič y Slana, 2018).…”

“…Las empresas para consolidar su razón de ser, necesitan personal de alto potencial, con miras hacia el futuro. Debido a la situación demográfica, social y económica en Europa, el mercado laboral está reflejando insipientes avances en la calidad de gestión humana, inspirando a la investigación y tratamiento programado del talento humano, es decir, los colaboradores talentosos, (Boštjančič y Slana, 2018;Ling et al, 2018). Las organizaciones son conscientes que sólo aquellas que reconocen esta área como fundamental, tendrán éxito en la guerra de talentos.…”

Is Human Capital Ready for Change? A Strategic Approach Adapting Porter’s Five Forces to Human Resources

“…Attracting talent is maybe the biggest challenge of an organization, because performance is achieved through people who should possess core competencies hard for competitors to replicate [7].…”