Talent Management in European Organizations

Authored by: Agnieszka Skuza , Hugh Scullion

The Routledge Companion to Talent Management

Print publication date:  August  2021
Online publication date:  August  2021

Print ISBN: 9781138202146
eBook ISBN: 9781315474687
Adobe ISBN:

10.4324/9781315474687-14

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Abstract

Over the last two decades, there has been a substantial growth in the number of practitioner reports stating that talent management (TM) has emerged as the top priority and that it will remain a key challenge companies will face in the near future (CIPD, 2017; Ernst & Young, 2018; Human Capital Institute, 2019; Manpower Group, 2018; PricewaterhouseCoopers, 2019). TM's growing significance is based on the assumption that TM is a key source of competitive advantage and that for organizations to succeed, they need talented employees who are in abundance. The imperative of the “war for talent” that dominates the TM rhetoric is based on the premise that tightening labor market conditions make attracting and retaining talented employees more and more difficult. The supply concerns come from the changing nature of demographics characterized by an ageing workforce and declining birth rates. This couples with the rapid process of globalization and increasing internationalization (competition for talent has shifted from the country level to regional and global levels) and also with the growth of knowledge-based economies, which results in the rising need to hire high value workers in more complex roles.

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