Global Expansion
- What are some specific talent management initiatives that might be used to support a global expansion strategy?
The following are the talent management initiatives which should be used to support global expansion strategy. Next generation leadership, speeding up structural change, and developing talents.
Next generation leadership is very significant or the company, since it can be able the company to determine the course of its future (Rees, 2016). This consequently allows the management of the company to be able to train young leaders who can be able to enable the company to reach its goals in future. Moreover, the company can also be able to predict whatever is likely to happen to its future, thus training leaders who can be able to deal with such issues.
Speeding up structural Change enables the company to acquire new strategies which change the marketing trend of the company, thus enabling the company to beat its competitors. On the other hand, the company gains new strategies which enable it to be able to avoid making losses due to the frequent changes in the marketing trends.
Developing talents consequently allows the management of the company to train young employees to be able to deal with critical issues which are likely to face the company. This therefore allows the company to reduce the costs of dealing with different problems that it is likely to face (Ariss, 2014).
- What strategies might be used in recruiting global talent and why?
Outsourcing is one of the best strategies for recruiting talent management, since the recruiters will only focus on talented people. This therefore increases the chances of recruiting talented people since they will be interviewed on their talent skills and thus making the work easier for a company (Rees, 2016).
Hiring from within, also enables the company to come up with potential people who can be able to undertake different tasks effectively. This consequently because, the Human resource system of the company knows the talents that different employees have in the company. Moreover, this will also save the company’s costs of hiring and training a new employee in the company.
Competitive hiring, is also another type of recruiting, whereby different employees in the company are asked to carry out different tasks. This consequently enables the company to be able to understand the types of talents that the employees possess. Through this, the management of the company can therefore be able to pick one of the employees from the company and place him or her in a new position, according to his or her talents based on the type of tasks that the employees were competing against (Ariss, 2014).
- What are some potential challenges in a talent management initiative that might be used in a global expansion strategy? Explain how these challenges may be turned into positive outcomes.
The main challenge in a talent management is poor recruitment methods used by the human resource management. This consequently makes it hard for the talent management initiative to be effective (Ariss, 2014). Moreover, the cost of conducting talent management initiative is relatively high thus making it hard for company to be able to acquire talent management effectively. Poor recruitment can effectively affect global expansion strategy thus making it hard for the company to be able to reach its goals (Rees, 2016). Moreover, the cost of conducting a talent management initiative may also inhibit global expansion strategy since the company cannot be able to move forward as planned. These challenges may therefore be turned into positive outcomes if the company uses outsourcing as a means of recruiting new employees. On the other hand, the company can also look at its total expenditure before determining the amount of money it allocates for the talent management initiative.
Reference
In Rees, G., & In French, R. (2016). Leading, managing and developing people.
In Ariss, A. A. (2014). Global talent management: Challenges, strategies, and opportunities.
