Professional paper
Strategic management of talents in the function of company competitiveness
Matej Perkov
; Aspira University College, Zagreb, Croatia
Lidija Križan
orcid.org/0000-0002-7881-0842
; „Auto Hrvatska“ d.d., Zagreb, Croatia
Zlatko Hodak
; „Narodne novine“ d.d., Zagreb, Croatia
Abstract
The globalized, digital, and highly variable labor market requires higher levels as well as different combinations of acquired competencies and qualifications. Apart from those basic skills, talents are sought with more flexible and transferable competencies appropriate to every business situation. Talented individuals are a strategic resource whose engagement and development lead to excellence in organizational performance while retaining these individuals strengthens the economic power of the organization itself. That is why talent management is far more than just putting the right person in the right job. This paper systematizes theoretical settings and analyzes the best practices of strategic talent management (IKEA, LVMH, P&G, and others) in order to strengthen a company's competitiveness. Strategic talent management (STM) can be described as a process around attracting, hiring, training, and retaining great employees. By talents, the totality of each person's abilities, their skills, knowledge, experience, intelligence, judgment, attitudes, character, motivation, and capacity to learn and grow is understood. STM is a part of human resource management and is a fundamental prerequisite for the adoption and implementation of high quality corporate and business strategies. The aim of the paper is to explore the term, significance, peculiarity, appearance patterns, and the multidimensional influence of talent management on a company’s competitiveness. The research hypothesis is that effective talent management can result in distinctive market competitiveness of a company, more frequent introduction of new products and services, higher customer satisfaction, lower production costs, and higher return on investment.
Keywords
strategic talent management; company competitiveness; human resource management; labor market; globalization
Hrčak ID:
213880
URI
Publication date:
21.12.2018.
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