Talent Management & Succession Planning in the Work Environment Assignment

Talent Management & Succession Planning in the Work Environment - Assignment Example In order to achieve the above functions, proper and reliable communication structures are also paramount. It is often said that the strength of a team or an organisation in general, lies in the diversity of its workers, which in this case is defined by the existing differences in knowledge, talents and innovativeness among each other. In addition, it can create and nurture new talents to succeed those that are retiring and transferring from their jobs. This paper focuses on talent management and succession planning, and how these processes are conducted in businesses in their bid to remain competitive and successful. It also examines a case study to identify how these practices are designed and implemented by Apple Company. Current advancements in the business world require that business invest in reliable human capital in order to maintain their excellence and better performance. The advancements include; changes in information and technology, competition strategies and methods of successful business management. In this understanding, human resource managers in organisations have to work closely with the top management in order to attract, hire, develop and retain talents. However, despite these efforts, skills shortages in the current business environment continue to present both socio-economic and cultural challenges as talent crosses borders in industries globally. Analysis of human resource trends and skills are needed in businesses because of the shifting demographic patterns, international and global supply chains, an aging workforce as well as occupational mobility. For this reason, human resource managers are expected to devise effective strategies in harnessing and managing their talents (Cheese and Robert 11-12). The success of talent identification and management approaches places organizations in better positions to establish themselves firmly in the changing business environment, both locally as well as on a global