Talent Management Essay

NOV’s phased approach to talent management has been proven to be very successful; 90% retention rate is very high across the board. Contacting prospective employees while they are still at universities is an approach tried and tested by many global companies, with highly satisfactory results. If the company failed to ensure a stable supply of talent, it would face a shortage of experienced management cadres, which could have been devastating for its operations. Even when one top manager or highly skilled specialist retires, a company has to go through turbulent times before a replacement is found and everybody gets adjusted to the new arrangement. If a large number of staff members leave a company at once, results are unpredictable and can cause serious breakdown of the organization’s systems.

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Looking beyond states where the company operates and hiring overseas workers was a good idea as well. Foreign students at American universities usually posses unique skills and perspectives; furthermore, they want to excel academically and in the workplace because they often feel greater pressure to succeed than U.S.-born students. Three stages of recruitment process might seem as a waste of time and resources to many, yet it is the only way to ensure NOV hires only crème de la crème. Job rotation is of paramount importance for effective on-the-job training: fresh graduates have to experience how it is like to work in different departments, so that they see the entire picture and develop different sets of skills.

As for some of the possible advantages and disadvantage of the “draft approach” to placing candidates in business units, the most apparent benefit is that it allows departments to identify their recruitment needs and meet those needs by “drafting” a particular candidate with a special set of skills and sum of knowledge. Furthermore, interpersonal issues can come into play: if members of some business unit find a particular candidate to fit well into the corporate culture of that department, it can become a decisive factor in drafting that person. It is also beneficial for persons drafted: they know they are welcomed at the department, and their knowledge and skills are needed there. When drafting an individual, the department head or HR manager is likely to have a certain project in mind the newcomer will be immediately assigned to.

On the other hand, there are several disadvantages which have to be acknowledged. Candidates might feel uncomfortable with the drafting procedure, since they feel they are being evaluated, and their performance is being scrutinized too closely. If somebody is not selected by any of the departments, their employment prospects are very uncertain. Therefore, unhealthy competition among candidates can arise. Rather then cooperating within the same organizational system, they can sabotage each other’s work in order to be among the ones drafted. While some employers may think this is acceptable and that “survival of the fittest” rule applies in the office jungle as well, it can have a negative impact on organizational effectiveness and, more importantly, on the overall atmosphere in the company.
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