Edited by Frank Horwitz and Pawan Budhwar
Chapter 10: Talent management in the emerging markets
For organizations across the globe, talent management (TM) continues to grow in its strategic importance (Capelli, 2008; Collings, Scullion and Vaiman, 2011; McDonnell, 2011), particularly for knowledge workers and high potentials. We are now well aware of reports which suggest that seven in ten corporate leaders spend in excess of 20 per cent of their time on TM activities (Economist Intelligence Unit, 2006), and that TM represents the most important challenge facing HR directors in Europe (Boston Consulting Group, 2007). As a result, it is unsurprising that TM has attracted growing interest and is beginning to firmly establish itself as a key field of academic research. Interestingly, available empirical research hints that while the importance of TM is often recognized, organizations remain some distance off being regarded as effective at it (Scullion, Collings and Gunnigle, 2007; McDonnell, Lamare, Gunnigle and Lavelle, 2010; Schuler, Jackson and Tarique, 2011). All things considered, it appears that wide differences exist between the rhetoric and reality of what happens in practice. This chapter has two primary objectives. First, it explores the reasons for the emergence of TM in the emerging markets. Second, it examines the specific nature of the TM challenges in the Central and Eastern European (CEE) region in the unique social, economic and cultural setting of this region. Nowadays, organizations appear to be endlessly looking at global opportunities to bring short-, medium- and long-term business success.
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