The human capital the knowledge and skills of an organization's employees are important factors that determine the competitive advantage and the success in the achievement of business goals (Ashton and Morton, 2005; Frank and Taylor, 2004). Some organizations need people with highly specialized technical competencies, and skills and these talented people are a priority; without them, the organization will not move forward (Meyers and Van Woerkom, 2014). Therefore, organizations need to attract talented employees, improve their talents, provide opportunities for talent development, and retain talent through human capital management (Du Plooy and Roodt, 2010).
Talent management is the process of identifying, recruiting, retaining and deploying those talented people within an organization. Talent management positively impacts work involvement and employee performance (Sopiah et al., 2020). All individuals possess some talents that can be improved on the job. However, some talented people are motivated and possess the skills and abilities that enable them to outperform others in their specialized work areas. Hiring and maintaining these talented people is expensive, so existing talent must be developed through training and mentoring by developing and executing talent retention strategies (Vaamonde et al., 2018). Talent audits can identify employees with high potential and provide the basis for benchmarking talent in terms of talent acquisition, talent development, and retention (Armstrong and Taylor, 2020; Aljbour et al., 2021). In addition, the talent development skills model can support future requirements and identify skills shortages (North et al., 2021).
Many government organizations have internal and external secondment schemes that allow employees to join other organizations, including international organizations, and return with a higher silk level (Barkworth, 2004). This enables them to develop their talents, get to know new organizations, build professional networks and return. These posting periods vary in Sri Lanka between two and five years. However, one of the weaknesses in this scheme is that the seconded officers will become junior, similar to an out-of-service period when the person returns to the public service. This leads to dissatisfaction, and the gifted civil servants leave the civil service for good. Several employees in the organization where I work, initially joined as seconded officials from governments. Some of these talented employees have secured long term employment with the organization as they are highly qualified and skilled. However, some officers return and reach the helm of their organizations in the public sector as well.
A system at universities enables academics to take a sabbatical after every seven years of work (Jöns, 2015). Academics use this opportunity to join other reputed internal universities or firms for higher salaries. This opportunity is crucial to retain a highly talented workforce in the long term and offer an opportunity to develop a better professional career. However, as in the public sector, some academics who leave abroad for sabbatical remain on overseas jobs and never return, leaving a vacuum in the highly skilled workforce in the country. Therefore, some institutions have made it mandatory to sign a high value bond in the public sector to encourage employees to return to work.
Nonetheless, it is the responsibility of the organizations to develop a strategic talent management plan so that performance can be steered to ensure they are well committed, engaged, developing their talents by learning from experiences they gain through secondments and sabbatical leave programs (Armstrong and Taylor, 2020)). For this, support from top management, higher salaries, safety and health insurance, training and career development opportunities and work-life balance are essential (Piansoongnern et al., 2011).
In the current global context, workers, especially young workers, are less concerned about staying with one or a few employers as their attitudes and values differ from older generations, which can challenge talent management and create skills shortages (Eisner, 2005). For the younger generations, variety in the job and work-life balance are more important, which must be considered in global talent management planning, as different age groups have their priorities.
References:
Aljbour, A., French, E. and Ali, M. 2021. An evidence-based multilevel framework of talent management: a systematic review. International Journal of Productivity and Performance Management. ahead-of-print(ahead-of-print).
Armstrong, M. and Taylor, S. 2020. Armstrong's handbook of human resource management practice.
Ashton, C. and Morton, L. 2005. c. Strategic HR review.
Barkworth, R. 2004. Secondments: A review of current research: A background paper for IES research network members. Institute for Employment Studies.
Du Plooy, J. and Roodt, G. 2010. Work engagement, burnout and related constructs as predictors of turnover intentions. SA journal of Industrial Psychology. 36(1), pp.1-13.
Eisner, S.P. 2005. Managing generation Y. SAM advanced management journal. 70(4), p4.
Frank, F.D. and Taylor, C.R. 2004. Talent management: Trends that will shape the future. Human Resource Planning. 27(1).
Jöns, H. 2015. Talent mobility and the shifting geographies of Latourian knowledge hubs. Population, Space and Place. 21(4), pp.372-389.
Meyers, M.C. and Van Woerkom, M. 2014. The influence of underlying philosophies on talent management: Theory, implications for practice, and research agenda. Journal of World Business. 49(2), pp.192-203.
North, C., Shortt, M., Bowman, M.A. and Akinkuolie, B. 2021. How Instructional Design Is Operationalized in Various Industries for job-Seeking Learning Designers: Engaging the Talent Development Capability Model. TechTrends. 65(5), pp.713-730.
Piansoongnern, O., Anurit, P. and Kuiyawattananonta, S. 2011. Talent management in Thai cement companies: A study of strategies and factors influencing employee engagement. African Journal of Business Management. 5(5), pp.1578-1583.
Sopiah, S., Kurniawan, D.T., Nora, E. and Narmaditya, B.S. 2020. Does Talent Management Affect Employee Performance?: The Moderating Role of Work Engagement. Journal of Asian Finance Economics and Business. 7(7), pp.335-341.
Vaamonde, J.D., Omar, A. and Salessi, S. 2018. From organizational justice perceptions to turnover intentions: The mediating effects of burnout and job satisfaction. Europe's journal of psychology. 14(3), p554.