Table of Contents
Introduction
Nowadays, Human Resource Management (HRM) has become one of a major influence in a business especially in the global market. It is considered as one of the essential role for a business to reach their success and performance (Krishnan & Scullion, 2016). Many of them already put their time and money in the talent gap. To clarify, their investment are allocated to develop and structuring the concept and practices of talent management (TM).
The research created by Shad Morris, Scott A. Snell, and Ingmar Björkman has found that the value of a company mostly influenced by their human resources. Therefore, when a company plans to upgrade their performance, they need to manage their human asset well (Morris, Snell, & Björkman, 2015). Other research has also discovered that HRM alone may not be able to secure a company success (Ming, Booi, Jia, & Ferry, 2014).
From the HRM capacity evaluation analysis for advanced metering infrastructure (AMI) in Pakistan has found that to achieve company goal, they will also need talented human capital who can deal with their problem in many aspect. Therefore, existence of TM in a company may be required to fill this kind of problem. (Shahzad, et al., 2016).
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First of all, one of the major influences of HRM and TM on a company’s employee utilization is recruitment. Without workforces, a business may find difficulties to execute their work (McCracken, Currie, & Harrison, 2016). However, leaders still concern about recruiting staffs to strengthen their firms. Although many labors are competing each other, some enterprise find difficulties to get the talented one. Recruiters usually seek for them who have high standard, yet have different skills to do various tasks in a time.
Consequently, human asset transforms into scarce resources. In those events that leaders are struggling with, searching for potential workers may be a solution (Krishnan & Scullion, 2016). Several years ago, many Chinese multinational enterprises have invented HRM strategy by using potential labor to solve the problem. While expanding, the corporate choose several leaders to lead part of the company but also keep in contact with the headquarters. In addition, theses managers may create their own TM framework in form of leadership team.
Furthermore, the trusted managers may share their knowledges, experiences and skills that later change them into talented leaders instead of normal workers. In the end, leads to competitive multinational enterprise capabilities. In this case, good utilization of TM makes recruiting potential employee possible for the company (Meyer & Xin, 2017).
Secondly, many HRM and TM issues keep appearing in most of the enterprises due to rapid expanding of emerging economy. This quick emerging economy brings changes, especially in HRM and TM. This phenomenon may cause the target of a company become higher but open some opportunity to the international or global workers (Meyer & Xin, 2017). On the other hand, some incompetent personnel might be underperforming since they cannot achieve the requirement.
Underperforming Staffs become a common problem that many businesses are currently facing. Just like a wall that keeps companies away from their success in nowadays emerging economy (Amankwah-Amoah, Ifere, & Nyuur, 2016). For big companies, they may be in the upper hand. They may have modern staff management, able to motivate their employees better and give them more promising career opportunity, and larger investment in cultivating their labor to improve their performance.
In this case, underperformance can be anticipated. In addition, the large firm to penetrate the market is easier compared with smaller business (Krishnan & Scullion, 2016). Moreover, when expanding globally, they are supported by the large pool of local human assets in the target market country. Recruiting local people are promising and can be effective HRM strategy in developing the company value to global requirement (Meyer & Xin, 2017).
On the other hand, the emerging economy and underperforming personnel may be a bad news for the small or medium enterprise (SME). In this condition, SMEs are in the huge disadvantage. Searching for new talented and potential labors are rather costly (Amankwah-Amoah, Ifere, & Nyuur, 2016). In such case, SME must keep their cost on budget.
To improve their capabilities, the possible way for them are by using the alternative pool of workers and informal work practice. For example, part-timer, contracting out and job-sharing peoples. On top of that, SME need to minimize the dependence of their business with others to avoid the uncertainty. In this matter, the strategy of HRM and TM needs to be different and more adapting with the condition.
The strategy that can be used to recruit and retain staffs for the SME are by offering better job quality. In SME, the environment are more comfortable since the workplace are informal and better atmosphere. In addition, they may also have flexible schedule. Alongside of all of it, SME may have fewer formalities or rules (Krishnan & Scullion, 2016).
Thirdly, in searching for valuable human assets, taking in graduates who have TM based knowledge may be a good decisionfor upgrading the capabilities of company (McCracken, Currie, & Harrison, 2016). Recently, there is a little doubt that Talent Management has become one of the scholar’s interesting topic in HRM department.
It can be said, that there might be a chance for getting skilled or potential new recruit from the TM scholars pool (Collings, Scullion, & Vaiman, 2015). Graduate student may have several value or awarenessabout criteria in HRM and TM. Firstly, the students are aware about several issues that some company are currently facing. Moreover, they have concept on TM. Thirdly, know the degree of inclusivity on management. Fourth, capable in predicting the Supply and Demand of talent.On top of that, integrating TM with Business strategy.
Lastly, differentiate TM and HRM. Due to these reasons, managers may invest some money torecruit them, and then give some room to experience the task and challenge on what the company are currently facing.Furthermore, by giving them some training, it may improve the ability of the graduates. In other words, it is possible to take in graduates to improve the value of a companyin several years (McCracken, Currie, & Harrison, 2016).
Conclusion
To sum up, HRM and TM may bring improvement in enterprise capabilities to stand in the market. These human related managements are crucial requirement to build company capabilities. However, as company keeps growing, performance and development of employee need to keep up to cover up the global market. Giving some guidance, training, and practice may be one of the proper investment on developing the capabilities (Krishnan & Scullion, 2016; Morris, Snell, & Björkman, 2015).
Lastly, HRM and TM management may help leaders to be able to adapt, seeking and using human asset effectively. Various kind of firm may have different kind of HRM and TM strategy that may strengthen their own. The common influence of HRM and TM in an enterprise is in recruiting their staffs. Even though talented people are very limited and more firms are growing and extending their scope, leaders need to look at other opportunities that fit with the condition when planning to enroll new labor.
Whether by using alternative, graduates students, and even potential human asset. When implemented right, the influence of HRM and TM may influence the capabilities of the company. Additionally, it also prepares many businesses to compete in the global market nowadays and in the later generation (Krishnan & Scullion, 2016; Meyer & Xin, 2017; McCracken, Currie, & Harrison, 2016).
References
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- Collings, D.G., Scullion, H., & Vaiman, H. (2015). Talent management: Progress and Prospects. Human Resource Management Review, DOI:10.1016/j.hrmr.2015.04.005
- Krishnan, T.N. & Scullion, H. (2016). Talent management and dynamic view of talent in
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- Shahzad, K., et al. (2016). Evaluating human resource management capacity for effective
- Implementation of advanced metering infrastructure by electricity distribution companies in Pakistan. Utilities Policy (2016), http://dx.doi.org/10.1016/j.jup.2016.06.011
