Abstract
The aim of this paper is to examine talent management and organizational effectiveness. To achieve this, from literature, the concept of talent management with its dimensions of talent acquisition, talent development and talent retention as well as benefits of talent management for both the individual and the organization were examined. Also, the concept of organizational effectiveness, its measures of goal attainment, resource acquisition and internal processes were examined with the aim of showing that talent management can realistically result in organizational effectiveness. The paper adopted a literature review methodology. The findings in extant literature revealed that talent management significantly enhances organizational effectiveness. Based on extant literature, the paper concludes that talent management is a significant predictor of organizational effectiveness. In the end, it was firstly recommended that management should map out strategies to identify, attract and hire talented individuals because for organizations to perform satisfactorily and outcompete their competitors, they need to device strategies to attract and acquire the right kind of talent essential to attainment of corporate goals. Secondly, management should endeavour to marry organizational and employee interests by formulating and implementing policies and practices that favours the career development of the employee. Lastly, that management should introduce and maintain a reward(s) and recognition system as this serves as an important component in building and retaining talent(s) in an organization.
Highlights
Due to the complexities and stiff competition that has characterized today’s dynamic and everevolving business world, organizations as result-oriented entities ideally designed to actualize predetermined goals and objectives are adopting diverse strategies to ensure organizational survival
As remedy to the aforementioned, an organization that is characterized with highly talented individuals aside from attaining corporate goals, maintaining a healthy relationship with the business environment in the course of acquiring resources needed for its business operations; the organization is able to stay afloat and survive the stiff competition that has characterized today’s dynamic and evolving business world
The concept of talent management, its dimensions and benefits for both the organization and the employee as well as the concept of organizational effectiveness, its measures of goal accomplishment, resource acquisition and internal processes will be discussed with the aim of showing that talent management can realistically result in organizational effectiveness
Summary
Due to the complexities and stiff competition that has characterized today’s dynamic and everevolving business world, organizations as result-oriented entities ideally designed to actualize predetermined goals and objectives are adopting diverse strategies to ensure organizational survival. Organizations that are ineffective are often characterized with inability to accomplish set goals, inability to acquire resources required for the production process leading to poor performance and job dissatisfaction which results in lack of employee commitment. Uncommitted employees always exhibit some behavioural patterns that suggests that they are no longer happy with their job. As remedy to the aforementioned, an organization that is characterized with highly talented individuals aside from attaining corporate goals, maintaining a healthy relationship with the business environment in the course of acquiring resources needed for its business operations; the organization is able to stay afloat and survive the stiff competition that has characterized today’s dynamic and evolving business world
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