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From talent management to talent optimization
Affiliation:1. Department of Economics and Business Organization, Faculty of Economics and Business, University of Barcelona, Spain;2. Economics and Business Studies, Universitat Oberta de Catalunya, Barcelona, Spain;3. Research Centre for Organization Studies, Faculty of Economics and Business, Naamsestraat 69, 3000 Leuven, KU Leuven, Belgium;4. Department of Sociology and Organizational Analysis, Faculty of Economics and Business, Av. Diagonal 696, 08034 Barcelona, Universitat de Barcelona, Spain;1. The George Washington University, 2134G Street, NW, Washington, DC 20052, USA;2. Pace University, Lubin School of Business, New York, NY 10038, USA;3. School of Management and Labor Relations, Rutgers University, Piscataway, NJ 08854, USA;4. Lancaster University of Management School, Lancaster LA1 4YX, UK
Abstract:The term ‘talent management’ has been around for quite some time, but definitions abound around the globe, applications are varied and a plethora of measures—mostly tactical—are currently being used. This article addresses how the concept of talent management is of both theoretical and practical value in any industry or geography. How can we know when talent investments have been optimized? What is the talent lifecycle and why is it important? Additionally, the article presents and illustrates the People Equity framework that serves as a global bridge between important individual and business outcomes such as turnover, financial performance, quality, productivity, customer retention, and organizational processes and policies that drive high or low talent optimization.
Keywords:Talent  Talent management  Employee lifecycle  Talent measurement  People Equity  Human capital
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