7-1 Final Project: Talent Management Process Submission

7 – 1 FINAL PROJECT: SUBMISSION
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Introduction
Maersk Group is currently a global conglomerate that has largely focused on major acquisitions in order to expand and grow internationally. The company has grown significantly from its inception when it was started as a Danish family company with only handful employees. As the company continued to expand, its operational and human resource systems continued to evolve. The post 2008 era represents a crucial point in the overall evolution of the company. This is because during this era, the Group got a new head of human resource: Allen. Allen was involved in effecting major transformations at Maersk and is known as the founder of current HR strategies. Allen was mainly tasked with ensuring that the human resource functions and practices at Maersk were aligned with the company’s long-term strategy of globalization. The human resource functions and practices that had to change as a result of this corporate strategy include: talent management, training needs assessment, performance management processes, and compensation and evaluation benchmarks.
Talent Management Process
The company strategies are geared towards making sure that the company stays ahead of the competition. It is for this reason that the company is looking to make sure that it has the right edge when it comes to making the right choices on the hiring protocols. This is in light of the talent management framework used in the company to make sure that they retain the very best of their employees. The human resources department is in charge of the development and management of the talent pool at the company (Groryberg & Abbott, 2013). As such, it is crucial that they develop a platform that reflects the strategic forecast that has been set out by the company relative to the dynamic nature of the industry. In the recent past, the company has been struggling with employee turnover, employee training, external hires and rehiring former employees (Guides.wsj.com, 2016). With these in mind, the human resources department should make sure that all the efforts are geared towards streamlining these aspects by providing solutions. The current industry condition, places the company in a very precarious situation. With the level of dynamism in the labor market were talent is growing at an exponential rate, most of the employees with quality talents are having an easy time find alternative positions. For companies like Maersk they have to stay ahead of the competition and the global standards that are constantly changing (Groryberg & Abbott, 2013). Talent management practices are crucial for the company, to make sure that they have ability to retain quality employees. At the same time, the company has to develop strategies to make sure that they are able to attract the right staff that fit in with the company objectives and the industry standards and trends (Guides.wsj.com, 2016).
One of the objectives under the company’s talent management strategies is related to external and internal hiring. Internal hiring largely relates to a practice where the company develops talent within the compa...