Essay on Globalisation and Global Talent Management
Number of words: 4734
The fact that most global organizations operate in an inexorable market, new and unexpected issues develop on a regular basis, increasing the complexity of managerial responsibilities and the importance of achieving corporate goals and objectives. By using talent management strategies, it aids in helping to build manageable organizational performance that is aligned with the company “strategic” and “operational” goals. Most firm have been using talent management as a way to benefiting and favouring its employees and also the organization itself. Talent management have been used to retain and also onboard high performing employees
When it comes to capturing new markets, products, and services, organizations are constantly at war with one another in today’s competitive business environment. Their only hope of remaining competitive and expanding in the global market is to adopt this strategy of continuous improvement and innovation. Businesses have learned that supervision and contending for social resources is equally as significant as contending for money and material resources in the past decade, and they have taken steps to ensure that this is the case. According to Kelly (2014) firms that are the most effective at managing their people and realizing the potential of their employees are particularly successful on a global scale, particularly in the manufacturing sector. Kelly (2014) asserts that the most important challenge in recent office is not contending in a global market, but rather creating a “global mentality” in managers as well as in employees and human resource professionals. The difficulty for human resource professionals is to find employees who are capable of exchanging ideas, knowledge, and procedures across boundaries and who can perform in a “multi-cultural” environment.
The Impact of Globalisation and Diversity in Global Talent Management
In the recent past, globalisation has raised the level of competition amongst the firms within a particular industry, and, consequently, companies are in stiff competition to attract the best global talent. Although some people hold that it has reached a deadlock, the future of globalisation remains positive and it will continue to expand to regions that do not feel its importance. Globalisation has a profound effect on global talent management due to growing consumer markets and the opportunities created by technological advancement and innovations.
Globalization will affect talent management since organizations will adopt recruitment strategies that will empower growth in consumer markets. It is true that the purpose of every business is to attract and keep customers, and with the increase in the number of customers in different parts of the world, the need to open up new markets that would meet their needs is crucial (Kelly 2014, p.17). Different consumer markets are likely to meet varied and dissimilar needs of the customers. It means that companies need to focus talent management on training employees to understand the various needs of customers according to region. Companies are now consumer-oriented, and as consumers strive to come out of poverty in most of these emerging markets, global demand is shaped up, and the managers should clearly understand what kinds of products or services they should be producing. According to Kelly (2014), the fact that people exist on a city planet makes it ideal for companies to think forward and focus on the talent management strategies that would satisfy the growing number of consumers.
Globalization is making it possible to have new collaborations that would, in turn, increase worldwide trade. Essentially, this means that global talent management needs to increasingly focus on interprofessional collaborations. Today, businesses operate in a fast-paced environment, and in order to serve this market better, companies are relying much on innovation and agility (Kelly 2014, p.56). Because innovations happen anywhere, companies are considering new collaboration capabilities to aid in the operations of the supply chain. Besides, with improvement in research and development techniques, technology is seen as a driving force behind the formation of new collaborations, and as a result, it facilitates connection of companies within and beyond national boundaries (Kelly 2014, p.62). With the existence of global supply chains, a successful globalization is guaranteed, and economic productivity will be attained in the long run, and hence, expansion of globalization. Global talent management needs to focus on interprofessional collaborations to enable a firm to be a leader in its market segment.
The Role of Global Talent Management in Enabling A company Achieve its Goals and Objectives
Global talent management has become increasingly vital for a firm that wants to achieve its short-and long-term goals and objectives. The advent of global talent management in a firm center on three crucial components or sectors; people, processes, and place. Place analyses the suitable organisational setting that reinforces global talent management by leveraging constant learning and growth (Khilji et al. 2015, p.237). Additionally, this feature is focused on internal procedures, strategies, and systems that enable entrepreneurial reasoning and its deployment. Moreover, the people component centers on a firm’s human capital, especially the leadership. It states that leaders should have the skills to spot out talent within a company that can be harnessed to develop an entrepreneurial mind-set in that organization (Khilji et al.2015, p.240). The amalgamation of these components enables the identification of aptitudes, the creation of competencies and organisational reinforcement towards the development of corporate entrepreneurial reasoning, to enable firms to hasten growth and value creation.
Venturing into the global market brings various challenges for an organisation, particularly when it comes to employee recruitment. In addressing these problems, an organisation needs to reinforce the development and growth of a global talent management to expand the market networks. From this viewpoint, along with increasing competition from the global market, established companies are in urgent need of a global talent management strategy (Khilji et al.2015, p.242). Companies leverage talent management to gain a competitive edge in the global market. Enterprises that function in a highly competitive global market need talent management to empower innovation and creativity at the organizational level.
In rationalizing the need for constant innovation and corporate entrepreneurship in the global setting, studies demonstrate the positive effect of a global management strategy. Talent management facilitates a conducive setting, resources, and the urge to reason creatively to enable innovative processes within an organization (Khilji et al.2015, p.245). Due to economic shifts and technological advancements, multinational firms should embrace talent management to increase an organization’s performance Further, talent management can have a distributional and growth impact on the general economy. Therefore, talent management is not only beneficial for the achievement of a firm’s goals and objectives, it also positively affects the economy of the host nation.
The Effect of Global Talent Management on a Firm’s Performance
Effective global talent management is a crucial aspect of sustained success in any company. Attracting the best talent and ensuring they can grow and maintain an excellent level of expertise could help the company become even more successful. The talent management system developed for the global business is a good idea since it helps to address the shortcomings in the company (McNulty and De Cieri 2016, p.17). The major problems in the company are talent retention and the absence of quality leadership as a result of in-house promotions. Designing a system which brings in quality leadership and ensures that more employees remain with the company for longer periods helps develop talent in the company and enhance the quality available (McNulty and De Cieri 2016, p.22). These changes brought by the system are also being adopted into the organization’s culture which will help ensure that they enjoy the full support of everyone.
There will always be resistance to change in any social setting, and this includes the professional workplace. Effective planning and employee involvement can help significantly reduce this resistance and ensure that any changes introduced by an organization are fully adopted and supported (McNulty and De Cieri 2016, p.32). The changes introduced by the organization, including adopting a talent management system should have the full involvement and backing of the employees. The organization has taken the right step by ensuring that they involve employees in decisions about talent management. The positive impact of employee involvement is that they become motivated and inspired to ensure that whatever changes are introduced will work (McNulty and De Cieri 2016, p.46). Therefore, rather than encountering resistance to changes introduced, there will be an overwhelming resolve to implement the transformations and ensure that they are successful.
Theories and Concepts of Performance and Rewards Management
One of the main concepts pertaining to performance and rewards management is job satisfaction. Job satisfaction falls under two categories: affective job satisfaction and cognitive job satisfaction. The affective category encompasses worker’s feelings concerning the job as a whole, while the cognitive level involves employees’ satisfaction with work based on benefits, pay, or hours (Weir, 2013). Employee satisfaction is generally measured through a satisfaction survey. These checks address areas such as resources, teamwork, flexibility, perceptions of management, workload, and compensation, among others. The majority of companies would like to retain their employees, so evaluations are necessary to ensure that workers are happy and turnover is reduced, but job satisfaction is merely a part of the general solution. As a matter of fact, some organizations are better off without satisfied workers. This is because such employees feel comfortable with the status quo in an organization and are difficult to challenge to broaden their horizons.
The knowledge gained from this subject shows that managing a successful organization entails ensuring that employees are content and offering them adequate incentives to maximize their output. There exist numerous effective ways of increasing satisfaction. Job fulfillment is of the utmost significance for workers to remain happy and perform to their best of their abilities (Weir, 2013). Fulfilled employees are the ones that are loyal towards their business and stay with it in the worst scenarios. Workers of this nature rarely work via any coercion but have a vision of taking their company to greater heights. It is necessary for workers to be passionate about what they do, as the desire to work stems from their satisfaction with the job and business as a whole.
A positive ambience at the workplace is engendered when workers do not feel fulfilled, while having satisfied employees aboard has several benefits. First of all, they tend to manage stress with ease compared to those who are frustrated. Unsatisfied employees appear to be too rigid and make problems out of minor issues (Weir, 2013). Conversely, fulfilled workers willingly accept challenges and tend to do their best in the worst circumstances. Moreover, job satisfaction is significant for a company to gain higher revenue. Training or motivation within a company is irrelevant unless employees acquire a feeling of loyalty and attachment to the organization they belong to. Satisfied workers always have time to get involved in office politics, willingly assist their coworkers as well as cooperate with the company in turbulent times. Such employees rarely think of finding other jobs in times of crisis but put extra effort in collaborating as a single unit in order to deal with challenges as fast as possible. In their mind, the organization comes first, while all other things follow. Satisfied employees do not report to the office simply for perks but because they relate to the organization’s goals and believe in them. Job satisfaction among employees enables them to be productive for the benefit of the company. Such employees take pride in acting on behalf of the business and work hard to help attain higher profits.
The Relationship between Global Talent Management and Performance Management
Global talent management and performance management are related since they are all about ensuring consistency in organization, product or service is maintained to the best standards. The concepts articulate that achieving quality is a collective responsibility, and the employers and employees must work in a coordinated manner to accomplish it. Mainly, it incorporates various principles such as customer focus, leadership, involvement of people, and continuous improvement, among others.
The concepts of global talent management articulate that quality can be achieved through various strategies. On that note, the main assertion is that employees can be used as a means of achieving quality. To many organizations providing services, empowering employees is an important issue as both the employee and the customer are simultaneously involved in service production. However, empowerment is not the only strategy. Other strategies to improve quality include employee satisfaction and employee involvement among others. Employees are left to be responsible for the quality of service in an organization if the management is not involved in service encounters (Abubakar and Alabar 2013, p.32). Investing and delegating responsibility and authority to employees is one way of achieving this in a company.
Performance management and global management are also related since they center on quality control and management. Quality control is affected by communication flow in all directions that is up, down external and internal. Employees need to know their customers and their needs; customers need to know what the organization can provide and employees also need to understand their organization and its services and how to provide these services while properly decoding information (Abubakar and Alabar 2013, p.32). Without effective communication, employees remain isolated and stranded and the same effect is transferred to the customers. Communication to the customers becomes effective when the desired effect is achieved in sharing information intentionally or unintentionally. It therefore achieves the planned purpose.
According to Alabar and Abubakar (2013, p.45), quality management helps in solving this problem through employee involvement in the communication processes of the company. Employees should not be left out concerning matters related to the organization. Quality should therefore be carefully defined to avoid any misunderstanding. Services provided should also be carefully defined to employees and customers. Messages intended to be passed across will therefore not be misunderstood when quality and services are properly outlined. Effective communication is the highest level of quality management. Communication can be used for a number of reasons. When communication is used as a tool for effective bargaining, it should take a persuasive style.
How Performance Management Functions as a Form of Reward
Performance management enables employees to gain satisfaction from their work, hence acting as a reward. Employees tend to appreciate their work more compared to others when they find and relate to the purpose of a particular job and believe that their work in some way contributes to the greater good (Braun 2013, p. 1406). People assign relevance to their work in different ways. An employee may derive the meaning of work from the fact that it enables them to take care of their families and at the same time enjoy non-work undertakings they find pleasure in (Braun 2013, p. 1407). Other employees highly regard their work since it gives them an opportunity to advance and be the best person they can. For example, workers gifted in craft take pride in giving the best in their work. Employees may see their careers as a calling and thus have higher chances of finding their work profoundly meaningful. A sense of personal connection in the workplace makes even the most minor tasks seem relevant to the company’s mission. Employees may show passion for work as they are in the process of pursuing promotion to top positions in an organization. In this case, employees will put additional effort in assigned tasks in order to capture the attention of a management team by proving their competence and dedication (Braun 2013, p. 1407). Workers may find work to be more significant when they want to earn titles from the company as a whole and the general public. In such an instance, a worker tends to work to perfection such that everyone is aware of their special capabilities.
To proceed, employees may derive more pleasure from work because they are familiar with what the task requires and see it as an open door for increasing the company’s output, at the same time accomplishing both personal and company goals. For example, a doctor or physician may express a passion for their job by offering services to the needy and destitute free of charge. In such a case, a doctor finds satisfaction by seeing the sick receive treatment and live healthy lives. Employees may have passion for their work when their efforts are recognized. An organization that involves its employees in decision-making may contribute to workers valuing their work more and becoming more engaged (Braun 2013, p. 1408). In doing so, workers feel recognized and empowered, regardless of the salary they receive. Tasks that are gratifying also enhance employee job satisfaction. For example, a teacher may find fulfillment in their job through enhanced interactions with their students. As such, the teacher may choose to spend more time with his or her students due to good relationships established between them, making work more rewarding. Employees may also regard their work more positively if the working environment is bearable. An organization that has workers working together as expected enables them to find passion in their work. A friendly atmosphere in the office allows workers to share ideas and help each other attain company and individual objectives, making their work more significant
The Internal and External Factors that Performance and Rewards Management
One of the main internal factors that affect performance and rewards management is training and development. Training of employees is a powerful tool for empowerment and involvement of employees. Such empowerment makes employees more responsible, motivates them in their day-to-day routine work, and improves their loyalty and productivity and most importantly the quality of service offered by the employees (Sanders et al. 2018, p.1456). As the widely held view states, once the employee is satisfied, the customers will also be happy.
Another internal factor is communication. Communication is an important human resource management component. Quality management involves a work process, which is being well coordinated allowing for continuous improvement in the company and aiming at meeting customer satisfaction. It means that the establishment of an atmosphere of trust between management and employees is imperative for improving communication in a company to enable effective performance management (Sanders et al. 2018, p.1457). One important role of communication is that it acts as a medium for making changes. Trust provides a channel of access to the management by all employees in case a change is needed.
In regards to the external factors, it is vital to consider the opinion of customers. Attitude of consumers enjoying the service and the seller-buyer relationship will affect a customer either negatively or positively. Empowerment is beneficial to both employee and employer as it enables them to work successfully and efficiently (Sanders et al. 2018, p.1458). Employee empowerment has a number of benefits to the organization. Response to customer needs is quicker and more direct and also in service recovery, response to dissatisfied customers is quicker and direct. Empowered employees can be a source of valuable ideas to the organization, which would not have otherwise been found so easily. Employees end up satisfied with their job and have a high self-esteem. Customers are treated with a lot of excitement when employees are empowered which increases customer retention hence a more stabilized customer number.
The second external factor is the performance and reward systems used by other organizations. A company should match or have better performance and rewards systems than other organizations in the same industry. Such an approach is vital if a company is to gain an edge in the labour market.
Relationship between Performance and Rewards Management and Workforce Learning and Development
In the modern organizational setting, performance and rewards management have become one of the core aspects of a company to develop specific skills in their prospective and existing employees. Workplace learning and development are viewed as vital since they enable employee satisfaction and increase the performance of employees. Training is a systematic process of development and growth whereby workers develop their skills and abilities (Mello 2014, p. 18). It is not only concerned with improving the performance of workers, but also giving them the opportunities for growth and development. There are two methods through which employees can enhance their skills and knowledge. On that note, it is through on the job experiences and the other is off-the-job training. On the job training is critical because real learning occurs only when a person practices what they have learned (Mello 2014, p.16). Likewise, it is important to gain knowledge through classroom learning methods. Learning becomes meaningful only when theory is interwoven with practice. Such an approach enables a firm to increase the performance of its workers.
Employee training is an efficient way of employee empowerment, and therefore, achieving quality through employees is possible. Training improves skills, knowledge and ability to perform duties enabling them to work with much ease. Employers therefore have a huge responsibility in ensuring customer satisfaction and quality control through employee empowerment (Mello 2011, p.22). Human resource management as a quality control measure is effective, and the employees have to undergo training to be able to handle a variety of tasks. The management must therefore consider getting recruits who meet the required characteristics and are up to task is a challenge so that quality is not compromised.
Workforce learning and development programs are seen as a form of reward since they enable job satisfaction. Job satisfaction is an increasingly important aspect in all working environments and has been defined in different ways. Employee satisfaction is the pleasurable emotional state that originates from positive assessments of an individual’s job, including any work related experiences (Mello 2014, p. 44). A different definition of job satisfaction is how content an employee feels with the current work situation. Satisfied employees within an organization are happy with tasks assigned to them, meaning they like the individual facets of the tasks such as the nature of the work and/or supervision. These feelings are primarily based on an employee’s perception of their needs fulfillment. An employee’s contentment can be influenced by their ability to finish tasks required, the manner in which management handles workers, and the quality of communication among coworkers and between management and staff.
Evaluation of Performance and Rewards Management Systems in My Organisation
My company uses the total rewards programs as its rewards management system. The program is made of various core features. The first is compensation. Aside from the basic salary, the compensation includes other factors that a company should take into account in its pay system, like the short- and long-run incentive pay. The combination of these aspects works efficiently to attract and constantly motivate the highest performers who have the confidence that they have the ability to beat expectations.
The second feature is recognition. The workforce needs to feel that their efforts are being appreciated and crucial to the firm’s ability to realize its objectives (Zoltners, Sinha, and Lorimer 2012, p.178). As such, experts recommend the development of a culture of recognition, whereby the management frequently facilitates specific, timely, and genuine feedback. The final feature is development and growth. The lack of opportunities for development is the main reason that workers abandon their positions. Therefore, a company should not allow this to be the reason it loses its best talent. My firm facilitates opportunities for development tailored to a worker’s objective for growth, and ensures to facilitate the resource employees require, like access to courses and on-job training.
In regards to performance management, my company uses Employee Value Proposition (EVP). The EVP examines the firm from the viewpoint of former, current, and future workers. It comprises every action that a firm engages in to pull and keep its workforce; this includes the incentives from the firm, the extra benefits, and extra pay benefits. Whereas engagement programs are mainly dependent on the current workforce, these surveys do not highlight the viewpoints of people the firm wishes to hire or has lost. The value proposition paints a clear portrait of why an individual would opt to work for one company over another. The effectiveness of the EVP is critical in attracting workers whose values are aligned with the firm’s
The Different Methods of Measuring Employee and Organisational Performance
One of the most effective methods of measuring a firm’s employee and organizational performance is through the use of the cultural life cycle. According to the cycle, the effectiveness of a company’s culture should be an area of major concern because it is among the top predictors of an organization’s future success (Millán, et al. 2013, 652). Effective cultures are the product of sets of strongly held and shared values, and the way in which these values are perceived and administered by a company’s management or leadership. One sign that proves the effectiveness of an organization’s culture is the organization’s longevity. Effective corporate cultures preserve the core values of a business and stimulate its progress. A company’s strong and deeply held values are what serve as the foundation of common understanding and trust within a company, which allows members of an organization to act creatively as they seek to achieve the long-term goals of an organisation.
Another vital measure is the form of organizational leadership. Leaders with exceptional skills in organizational behavior have been seen to steer organizations to productivity with much ease and efficiency. As a consequence, the management teams are increasingly interested in controlling critical aspects of employee motivation as it is a core aspect that increases positive behavior (Millán, et al. 2013, 655). As a result, efforts to prioritize the human resource department have been taken. The efforts have shown that organizational performance and effectiveness are directly linked to employee motivation. Further, they have indicated that the employees’ desire to satisfy their personal and professional needs has resulted in behaviors that directly influence productivity. Studies have also shown and supported employee empowerment as a means of retaining employees while ensuring employee satisfaction. In this paper, we will look into the impact and relationship of leadership and organizational behaviours on productivity.
The third measure is the type of organisational behaviour. Studies conducted reveal that organisational behavior is directly related to employee productivity and, consequently, that of the institution (Millán, et al. 2013, 657). Reduced productivity is also linked with worker dissatisfaction. The heuristic model suggests that thoughts of quitting are the most likely result of job dissatisfaction. As such, the withdrawal will result in either the worker voluntarily leaving the firm or being fired for unprofessional conduct. Workplace happiness results in increased rates of productivity. It enhances worker morale; workers are keener to work harder to enhance the organization and its objective (Millán, et al. 2013, 658). While organizations need knowledgeable and competent workers, if these workers do not receive fair treatment, they feel demotivated and end up tapping into other job offers that will facilitate improved stability, more compensation, and more benefits.
List of References
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