Talent Management : How firms in Sweden find and nurture value adding human resources

University essay from Högskolan i Jönköping/IHH, EMM (Entrepreneurskap, Marknadsföring, Management); Högskolan i Jönköping/IHH, EMM (Entrepreneurskap, Marknadsföring, Management)

Abstract:

Sweden is entering a time characterized by a shortfall of qualified labour. Thus companies will have to hold on to, and develop their most valued employees since it is getting harder to find competent replacements. By finding and developing Talents, companies will improve their position in the market and perhaps even create a competitive advantage. The academic discipline concerning locating, assessing, developing and retaining Talents is called Talent Management.

Purpose

To identify how the most desirable employers in Sweden work with Talent Management, and implications following its practises.

Method

The selection was made based on the response of a pre-study of 30 large Swedish companies recognised for their employment practises. Nine oral interviews, with a number of HR professionals at the corporations, were performed to investigate how they utilise Talent Management to create more value from human resources. The thesis takes a multiple case study approach investigating the utilization of Talent Management practises in Sweden.

Conclusion

The Swedish dialect of Talent Management correlates with the frame presented by theory. Swedish firms are mostly locating Talents internally but are willing to use outsourcing for some recruitments. Talents’ competencies are more important than their credentials. Within the frame of their job description, Talents are encouraged to find creative solutions to solve their tasks. Swedish firms are increasingly using assessment and clear feedback as foundation for the individual development plans. Within the individual development plans there is on-the-job training, job rotation and mentors. This is also a part of the retention process which focuses on recognition, relocation and career management. Implications of the work with Talent Management in Sweden are; since the companies investigated employed, or were about to employ, Talent Management processes, it seems that they are well prepared for the future war for Talents and will better cope with the gap occurring when baby boomers retire. Thus, firms adapting to Talent Management, and sees the strategic importance of it, can gain a competitive advantage against others not concerned with these practises.

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