Building Knowledge Assets for Competitive Advantage
Edited by Vlad Vaiman and Charles M. Vance
Chapter 2: Critical Considerations of Talent Management and Knowledge Management for Effective HR Planning
2. Critical considerations of talent management and knowledge management for eﬀective HR planning Patrick F. Schutz and Donald A. Carpenter INTRODUCTION Eﬀective strategic management involves processes of both strategy formulation and implementation. A primary purpose of human resource (HR) planning is to join in the strategic management eﬀort to assist the organization in formulating and achieving its strategic objectives (Greer, 2001). Certainly, the quality of an organization’s strategic management eﬀort will depend upon the nature of the human talent, at all levels, that the organization is able to attract and mobilize through careful HR planning in formulating and implementing strategy. Thus, talent management (TM) is integral to HR planning, and the ongoing management of an organization’s human talent provides essential support to an organization’s eﬀective strategic management process. Knowledge management (KM) processes also play a central role in the eﬀectiveness of HR planning in serving strategic management. An organization’s human talent generates, obtains, and transfers critical knowledge used in strategy formulation. Knowledge transfer is also critical for developing understanding and ability to carry out strategy, and is essential for feedback and control in strategy implementation. In this chapter we will examine in more detail the central positions that both talent management and knowledge management play in eﬀective HR planning. We also will examine important conditions and practices that should exist to enhance the impact of TM and KM on HR planning, and ultimately the strategic management process. 19 20 HR planning and sta...
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