SUCCESSFUL TALENT MANAGEMENT THROUGH POSITIVE CSR-DRIVEN TRANSACTIONS

Purpose: The purpose of this paper is to study the meaning of talent management (TM) in the context of corporate social responsibility (CSR) and transaction cost theory (TCE).Approach: This is a literature review paper.Findings: The study suggests that, contrary to economical predictions, TM is a socially unpredictable process that has to be based on a clearly articulated and contingent input-output perspective provided by positive CSR strategies. This study shows (against a backdrop of the boundaries of the socially responsible organization) the transactional nature of talent management and highlights the issues that affect the process of talent acquisition, development and retention. The study proposes a CSR driven talent management model, to fill the gap between talent management processes and organization development requirements, that enhances in-house talent satisfaction, engagement and commitment talented employees to continue employment as well as attracting outside talents to the organization.Research limitations: This study is based on theoretical analysis and its assumptions should be tested empirically. Practical implications: The study shows the need for integration of the CSR practices and talent management to decrease transaction costs. The study stresses that CSR-driven TM has to consider the initial growth of transaction costs and their decline at the end of the TM process.Originality/Value of the paper: The study addresses a research gap by integrating TM with CSR and TCE perspectives. It is also suggested that instead of well-developed talent management processes companies have to consider striking a balance between profitability and responsibility to find an appropriate regulator of the future transactions.

Wall Street’s Content Wars: Financing Media Consolidation

If we frame the ongoing streaming transition occurring in the cultural industries as ‘content wars,’ with metaphoric ‘battlefronts’ in Hollywood, in Silicon Valley, and on Madison Avenue, then the silent arms dealer in this conflict is Wall Street and the investor class, whose financial engineering goes largely unacknowledged in studies of the media industries. This chapter will explore the impact of private equity in the American film, television, and music industries since 2004. The mercenaries of these content wars, private equity firms have enacted leveraged buyouts in every sector of the cultural industries: major music labels (Warner, EMI), radio networks (Cumulus, Clear Channel/iHeartMedia), film and television production and distribution companies (MGM, Miramax, Univision, Dick Clark Productions), exhibition (AMC, Odeon), the top talent agencies (CCA, WME, IMG), audience measurement (Nielsen), and the trade press (Variety, The Hollywood Reporter, Billboard). The arms race in this conflict is the ability to monetize content catalogues across streaming platforms, which is a lucrative opportunity for financialization. From a critical political economy of media perspective attuned to the significance of financial capital, this chapter demonstrates that the financialization of various components of the media sector is facilitating a dramatic extraction of value from the cultural industries, leaving further consolidation in its wake. Who is profiting from the streaming transition and who is losing out? The answers are the same as in the wider economy of the second gilded age: the wealthy are extracting private, untaxed profit from the public arena while the middle class of creatives is being hollowed out. The ‘creative destruction’ of this war is being fueled by financial engineering

Global Talentship: Toward a Decision Science Connecting Talent to Global Strategic Success

It is widely accepted that global competitive advantage frequently requires managing such complex situations that traditional organization and job structures are simply insufficient. Increasingly, in order to create a flexible and integrated set of decisions that balance local flexibility with global efficiency, organizations must rely on more social, informal and matrix-based shared visions among managers and employees. Research on global strategic advantage, global organizational structures, and even shared mindsets has suggested that dimensions of culture, product and function provide a valuable organizing framework. However, typical decisions about organization structure, HRM practices and talent often remain framed at such a high level as to preclude their solution. We maintain that there is often no logical answer to such questions as, “Should the sales force be local or global?” or “Should product authority rest with the countries or the corporate center?” However, we propose that embedding business processes or value chains within a Culture and Product matrix provides the necessary analytic detail to reveal otherwise elusive solutions. Moreover, by linking this global process matrix to a model that bridges strategy and talent, it is possible to identify global “pivotal talent pools,” and to target organizational and human resource investments toward those talent areas that have the greatest impact on strategic advantage. We demonstrate the Value-Chain, Culture and Product (VCCP) matrix using several examples, and discuss future research and practical implications, particularly for leadership and leadership development

What are Best Practices for Retaining Employees During Mergers and Acquisitions?

The purpose of this report is to guide decision makers at this company, by offering the most recent theories and practices regarding talent retention programs. Recently mergers and acquisitions have become a major part of global business. During the M&A, it is important to manage the organizational and human resource issues. Our team focused on gathering real business cases. Then we highlight some suggestions from the best practices to create successful M&A. It is our intent that the research findings in this report will help to enlighten and inform the company’s leaders to guide the effective human management program centered on key talent, ultimately leading to organizational success

Globalisation of HR at Function Level: Exploring the Issues Through International Recruitment, Selection and Assessment Processes

Much of the debate around convergence-divergence is based around comparative analysis of HR systems. However, we need now to combine these insights with work in the field of IHRM on firm-level motivations to optimise, standardise and export HR models abroad. A series of the changes are being wrought on a range of IHRM functions – recruitment, global staffing, management development and careers, and rewards - by the process of globalisation highlighting the difference between globally standardised, optimised or localised HR processes. This paper reports on a study of firm-level developments in international recruitment, selection and assessment, drawing upon an analysis of four case studies each conducted in a different context. Organisations are building IHRM functions that are shifting from the management of expatriation towards supplementary services to the business aimed at facilitating the globalisation process, and this involves capitalising upon the fragmentation of international employees. As HR realigns itself in response to this process of within-function globalisation (building new alliances with other functions such as marketing and IS) the new activity streams that are being developed and the new roles and skills of the HR function carry important implications for the study of convergence and divergence of IHRM practice. Globalisation at firm level revolves around complexity, and this is evidenced in two ways: first, the range of theory that we have to draw upon, and the competing issues that surface depending on the level of analysis that is adopted; and second, the different picture that might emerge depending upon the level of analysis that is adopted. This paper shows that although the field of IHRM has traditionally drawn upon core theories such as the resource-based view of the firm, relational and social capital, and institutional theory, once the full range of resourcing options now open to IHRM functions are considered, it is evident that we need to incorporate both more micro theory, as well as insights from contingent fields in order to explain some of the new practices that are emerging

People Matters: Accounting for Culture in Mergers and Acquisitions

People_matters.pdf: 664 downloads, before Oct. 1, 2020

A Multilateral Approach to Bridging the Global Skills Gap

[Excerpt] In 2012, McKinsey & Company forecasted a troubling outlook on the labor market through the year 2020. The report highlighted three talent shortages across the globe: nearly 40 million too few college educated workers in the global labor market; a 45 million shortfall of workers with secondary and vocational education in developing countries; and up to 95 million workers that lack the skills needed for employment in advanced economies. This global crisis is known as the skills gap. It impacts nearly every industry, job and employer. Simply put, critical talent supply will fail to meet employment demand in the coming decade. Such an imbalance can be crippling to economic progress, put strain on governments, and leave millions unemploye

The role of psychological characteristics in facilitating the pathway to elite performance. Part 1: Identifying mental skills and behaviours

Given the complexity of the talent development process, it seems likely that a range of psychological factors underpin an athlete’s ability to translate potential into top-class performance. Therefore, the purpose of part one of this two-part investigation was to explore the attributes that facilitate the successful development of athletes from initial involvement to achieving and maintaining world-class status. Seven elite athletes and a parent of each of these athletes were interviewed regarding their own (their son’s/ daughter’s) development in sport. Data were content analyzed using a grounded theory approach. Although sporting achievement was conceptualized as being multidimensional, psychological factors were highlighted as the key determinants of those who emerged as talented and maintained excellence. Accordingly, we suggest that talent identification and development programs should place greater emphasis on the advancement and application of psychological behaviors at an early stage to optimize both the development and performance of athletes

How Can Multinational Corporations Retain Their Employees in China?

To address the headache encountered by many multinational companies in China retention of their Chinese employees, this study first examined the current Chinese labor market, identifying the unique characteristics of the market mainly comprised of university graduates and experienced white-collar employees; then tried to explain the reasons behind employees departures from a perspective of deep-rooted Chinese cultures; in the end, proposed effective and efficient solutions for retention purposes. All the proposed solutions aim to address key human resources management concerns, including compensation management, talent acquisition, performance management and communication. This study examined the best practices in employee retention adopted by a large number of successful multinational players in the Chinese market. Some of the names from the list are IBM, Motorola, Intel, HSBC, Shell and British Petroleum (BP)

Global Employer Forum 2017: FutureWorks - Connecting Leaders & Fresh Thinking

We recently held our FutureWorks Global Employer Forum in London to discuss the megatrends that will impact global businesses and the future of work. Together with HR and employment leaders from some of the most innovative companies in the world, as well as leading academics and thinkers, we looked at how global employers can embrace the opportunities and manage the coming shocks. Here we share highlights from our two days together