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Talent Relationship Management as a key-strategy of change that empowers organizations to meet the needs of the changing business environment?
Växjö University, Faculty of Humanities and Social Sciences, School of Management and Economics.
Växjö University, Faculty of Humanities and Social Sciences, School of Management and Economics.
Växjö University, Faculty of Humanities and Social Sciences, School of Management and Economics.
2006 (English)Student thesis
Abstract [en]

Organizations nowadays are confronted with changes in the global business environment that are expected to have a profound impact on them. Organizations operating in industries that rely on knowledge workers in particular, face the challenge to change and align themselves in order to meet the needs of an ever changing business environment. Knowledge workers are mostly referred to as ‘talent’ because their most important value and contribution is their competence. Talent is the core asset of knowledge driven organizations, and human resource departments (HR) are therefore increasingly seen as the key interface between individual internal and external talent and the organization itself.

One of the most serious threats to future organizational performance is the predicted shortage of talent on a global scale. This is particularly due to drastic demographic developments, i.e. retiring baby-boomers -people born between 1946 and 1964- and decreasing numbers of highly educated people in the western world, combined with the higher-than-average economic growth in developing countries drive up the demand for talent worldwide. Therefore, multinational knowledge driven organizations must find strategies today in order to become able to attract, develop and retain talent, to make sure that they will stay on the ‘winning side’ of the widely predicted “war for talent”.

That is why managing talent is considered a crucial part of organizational performance and the concept of fostering relationships between talent both within and outside the organization is seen as the most effective means to achieve that goal. The model analyzed in this thesis is called Talent Relationship Management (TRM) and its focus is on managing the Relationships between talented people.

The findings presented in this thesis derive from interviews conducted with HR managers of four different multinational enterprises operating in the industrial energy sector both in Germany and Sweden. All four organizations started to implement TRM and have been working with this strategy between two and four years. The main focus of the interviews was to learn from their experience and to answer the research question: Can Talent Relationship Management be used as the key strategy for organizational change, and if so, what are the critical factors that should be taken into account?

Although TRM is also often introduced, mainly by consultancies working in the field of HR, as just another HR strategy putting emphasis on isolated issues such as for example ‘employer branding’ and ‘campus recruiting’, our findings suggest that TRM is only useful if it is implemented as a long term strategy of organizational change. This has profound impact on the internal structure and culture of the organization with implications for all individuals because all members are affected. Not only are the challenges of implementing TRM being presented in this thesis but also the critical aspects are examined. As a result three major aspects are highlighted that put the -in many cases- very optimistic and positive picture of TRM into perspective.

Place, publisher, year, edition, pages
2006. , p. 111
Keyword [en]
Talent Relationship Management, TRM
National Category
Economics
Identifiers
URN: urn:nbn:se:vxu:diva-717OAI: oai:DiVA.org:vxu-717DiVA, id: diva2:207026
Uppsok
samhälle/juridik
Supervisors
Available from: 2006-07-14 Created: 2006-07-14 Last updated: 2010-03-10Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
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