Abstract
Increased competition for competencies has created opportunities to collaborate, lead, formulate and execute winning Talent Management (TM) strategies to ensure Organizational Development (OD). OD is a system wide application of behavioral science knowledge to the planned development, improvement, and reinforcement of the strategies, structures, and processes that lead to organizational effectiveness. Considering that labour costs comprise huge percentage of spending, it is vital to have TM integration that suit to leverage organizations' values, vision, mission, and strategy. Moreover, the powerful levers that leaders can use to align organization, gain commitment to a new direction, and execute new strategies are TM, leadership development, and carefully chosen and well-executed OD initiatives. The better integrated these levers are the more effective they will be. Through grounded theory approach and content analysis, the chapter aims to understand role of TM and focus on TM integrated approach for OD.
TopBackground
Since a group of McKinsey consultants coined the phrase the War for Talent in 1997 (see Michaels et al., 2001; Axelrod et al., 2002), the topic of talent management has received a remarkable degree of practitioner and academic interest. This relatively recent emphasis on talent management represents a paradigm shift from more traditional human resource related sources of competitive advantage literature such as those that focus on organizational elites, including upper echelon literature (Hambrick & Mason, 1984; Miller, Burke & Glick, 1998), and strategic human resource management (SHRM) (Huselid et al., 1997; Schuler, 1989; Wright & McMahon, 1992) towards the management of talent specifically suited to today’s dynamic competitive environment. While the context may have shifted significantly since the latter part of the last century, the notion of talent management remains important. Arguably the challenge of maximizing the competitive advantage of an organization’s human capital is even more significant in the current competitive global business environment (Frank, Finnegan, & Taylor, 2004).