Human Resource: Top Talent Management

Human Resource: Top Talent Management
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Introduction
McDonald is a company that operates over thirty thousand restaurants that are located in 118 countries. The company serves over fifty five million customers in a day. For the vast of its fifty four years of operation, this company has been very successful. However, for its first time in the company’s history, McDonald recorded a loss in the first quarter of 2002. This happened irrespective of the fact that the company’s performance management system had rated its managers as incredibly high and that every manager was doing an exceptional job. In fact, over 90% of the managers had been rated as either excellent or outstanding, and more than 75% of the managers were assessed as possessing the potential to advance and be in a position to take greater responsibilities. As a result, the senior management felt that there was an issue to be addressed because the rating of both potential and performance failed to align with the business’ overall performance. Moreover, the senior management realized that, irrespective of the very high employee’s rating throughout the system, the company had always experienced difficulties finding replacement for a key leadership positions. Consequently, the senior management took steps to upgrade McDonald’s talent management as well as the processes globally (Goldsmith & Carter, 2010). In this essay, I discuss the talent management program that was embraced by McDonald in making the company successful.
Organizations that remain successful in their operations take actions in a proactively and systematically way to ensure that they have in place human resource capability that meet both current as well as future business requirements. This is achieved through making talent management a vital force in the organization’s drive for excellence. There are several approaches to talent management but high performing organizations embrace an approach that consists of three elements namely; a strategy, a creed and a system. The talent management creed consists of a broadly publicized set of core values, principles, as well as mutual expectations that form the basis for guiding the behavior of an organization as well as its employees. Collectively, the formulated principles portray the nature of culture a particular organization endeavors to create so as to achieve its exceptional portrait of success. The creed’s principles are embedded into both organization’s talent management system and talent management strategy through incorporating the organization’s doctrines into competency definition, selection criteria, performance criteria, development processes and internal selection (Tarique & Schuler, 2012).
McDonald Company embraced an approach that included five major elements namely; people, place, promotion, product, and price. The approach was designed and implemented in a way that it enhanced the organization’s worldwide capability of developing and having the quality and the quantity of leadership talent essential for effective execution of the company’s plan of continued growth and success. The company’s framework involved ensuring that its employees are ...