Evaluate the current TM strategy at your workplace Essay

Evaluate the current TM strategy at your workplace - Essay Example In order to get the best yield from the workforce, it is important for an organization to have a clear talent management strategy. However, a significant number of companies do not have any strategy in talent management. However, most of them are in one way or another involved in the activities of talent management but under different titles like talent retention. One of the main distinguishing characteristic of the talent management is its continuity. While the transactional human resource activities are administrative overhead, talent management is a continuous process that delivers the optimal workforce for an organization. In other words, talent management ensures that employees’ productivity is maintained to the maximum levels (Taleo Research 2011). In this process, the human resource becomes the strategic facilitating factors which enable managers as well as the employees in their efforts in creating business value. In many organizations, several methods have been applied to improve employee’s performance. However, most of them have made no attempt to have a talent management strategy. This discussion evaluates the talent management at Saudi Basic Industries Corporation (SABIC) which is located in Saudi Arabia. The company has been ranked as one of the most reliably profitable public companies in the Middle East. SABIC has forty five production sites across the world. The company employs more than 31, 000 people world wide. Such number of human resources could be of great importance to an organization if their talent is effectively managed. The company has applied various measures in an attempt to manage its employees’ talents. The company also has good investor relations, a factor which has contributed to its financial stability. It has severally been ranked as one of the five best petrochemicals in the world. The success of the company has been triggered by three