Journal of International Business Studies - MyAssignmenthelp.com

Question: Discuss about the Journal of International Business Studies. Answer: Introduction Talent Management is referred to the anticipation of the required human capital in an organization and developing a plan to attain the human resource requirement. It is demarcated as the discipline of utilising the planned human resource planning to enhance the business value and to make it promising for the corporations and companies to attain their objectives. Talent management is also referred as the companys promise to retain, employ and build the most brilliant and finer employees accessible in the job marketplace. Thus, talent management is a useful term to describe the businesss promise to appoint, expand, manage and hold the talented workers. This study will outline the some of the specific talent management initiatives which could assist the global expansion strategy. It will also outline the strategy that could be utilised in employing the international talent. It will also address the probable difficulties and how these difficulties can be changed into optimistic results. What are some specific talent management initiatives that might be used to support a global expansion strategy? An effective talent management requires commercial objectives and approaches to meet the amount of talent that a corporation needs. The first initiative could be aligning the talent strategy with the business strategy(Ariss, Cascio Paauwe, 2014). It is crucial to match the talent with the business needs. Organizations such as Procter Gamble hold a familiar belief that for the success of the business operation, it is important to have talented employee at a right place. The second initiative could be acknowledging the actual needs. Many studies have outlined that businesses with the better monetary presentation are more expected to utilize the competencies as the foundation of succession administration. The third initiative could be investing in the best(Vaiman, Haslberger Vance, 2015). It is evident that many companies make fault by frustrating to increase the imperfect possessions for the expansion of its workforce equally. It is crucial that investment is done where its most pos sibility of getting the returns. Organizations will receive the best result when promising employees receive a disparity focus(Ready Conger, 2007). Investment needs to be done on two chief sorts, namely the high-potential leaders and to the employees who create a price for their establishments. What strategies might be used in recruiting global talent and why? In the current business scenario, the world has become a global market, and HR of the companies are progressively more being asked to source applicants from around the world. To complete this task efficiently, the HR experts can take the subsequent ladder to arrange their organization to grab some global talent(Silzer Dowell, 2010). Here are some of the strategies that savvy companies are using to recruit global talent: Building employer brand with authentic videos and messages: Companies such as McDonalds, share their employees videos on social media platforms. These videos reveal the excitement of the employees at the job(Vaiman, Haslberger Vance, 2015). They also add job descriptions on these videos which are made by companys managers. Companies must share their narrative messaging among the audiences that their firm is unique in its job descriptions. Recruiting on alternative sites: in the current global scenario, spreading the recruitment message and posting jobs on social media platforms like LinkedIn is now common. Recruiters now have to share their recruitment messages on niche social media sites that are frequently visited by target recruiting audience(Vaiman, Haslberger Vance, 2015). The AWS jobs posted by Amazon on dating site Tinder clearly define the innovative method of recruitment. In a similar way, McDonalds use Snapchat and Goldman use Spotify to find new talents. Holding a national hiring day: The traditional job fares have become so common that it rarely gets noticed. Businesses now must announce a national hiring day to create a buzz. This approach will automatically get a large amount of local free publicity. Companies like Chipotle and McDonalds have successfully used this approach to hire thousands of global talent. Developing a wanted talent pipeline: Developing a talent pipeline is one of the important strategic approaches too recruiting(Vaiman, Haslberger Vance, 2015). This method is very powerful as it allows a business to recognise the top recruiting prospect. What are some potential challenges in a talent management initiative that might be used in a global expansion strategy? Companies and businesses today face more challenges in employing the global workforce than ever before. Here are some of the challenges that be taken into consideration for global expansion strategy. The first challenge is the adaption of hiring and maintenance approaches for the coming changing labour force. The decreasing youth residents in the developed economy and high youth joblessness is the emerging economies are causing the shortages of skills(Morris, Snell Bjrkman, 2016). Though some of its gaps can be fulfilled by experienced workforces, the cultural diversity will carry on to describe the global workforces as businesses need to fill the shortages. The second challenge is the complexities in the preparation of the hiring, managing and integrating the global workforce(Ruddy Anand, 2010). With the expansion of moderate cross-border trade, the use of interactions knowledge for the development of transnational businesses is not likely to enhance. The third challenge is the incorporation of the human capital opportunities and risks from the working abroad into the business strategic decision-making. Explain how these challenges may be turned into positive outcomes The challenge regarding the adaption of hiring and retention strategies can be met by creating flexible working conditions and by shifting responsibilities away from the physically demanding work. The concern could be diminished with the identification of the right job roles, retraining opportunities and incentives(Vaiman, Haslberger Vance, 2015). The challenges of complexities at the recruiting of the workers could be filled by implementing a training program to fill the skill gaps after the workers are recruited. The challenges of incorporation can be filled by incorporating the labour force (Vaiman, Haslberger Vance, 2015). Development of the training programs could help the firm in increasing its workforce numbers across the globe. Conclusion The study stated that companies have to identify the skills beyond what is presented in the CVs and resumes. They need to identify the desired skills and finding it is a challenge for the HR professionals. This study outlined some of the specific talent management initiatives which could assist the global expansion strategy. References Al Ariss, A., Cascio, W. F., Paauwe, J. (2014). Talent management: Current theories and future research directions.Journal of World Business,49(2), 173-179. Morris, S., Snell, S., Bjrkman, I. (2016). An architectural framework for global talent management.Journal of International Business Studies,47(6), 723-747. Ready, R. A., Conger, J. A. (2007, September 15). How to fill the talent gap: Global companies face a perfect storm when it comes to finding the employees they need. Wall Street Journal (Eastern ed.), R1, 4. Retrieved from ABI/INFORM Global database. Ruddy, T., Anand, P. (2010). Managing talent in global organizations.Strategy-Driven Talent Management, 549. Silzer, R., Dowell, B. E. (Eds.). (2010). Strategy-driven talent management: A leadership imperative. San Francisco, CA: Jossey-Bass. Vaiman, V., Haslberger, A., Vance, C. M. (2015). Recognizing the important role of self-initiated expatriates in effective global talent management.Human Resource Management Review,25(3), 280-286.