Please have a read through the information provided below and answer the question with relevant references.
Strategic Human Resource Management (SHRM) links itself closely with Human Resource Management (HRM) within an organisation, and can be described as an approach towards making decision within a business that concerns the essential component of the businesses strategy, people. (Armstrong, 2016) Many models of SHRM illustrate vertical integration between the businesses strategy, the objectives of the business, individual behaviour, and ultimately the behaviour of individuals, teams, and organisational performance. (Beardwell, Thompson, 2014)
It is clear to see that SHRM aims to improve organisational performance through employing, maintaining, and developing talented individuals into the organisation. To do this a business may look to offer scheme such as Graduate entry level schemes; this form of scheme will see a selection process take place where you can only apply if you have a degree level education that is specific to the organisation. Talent management in this form, provides a business with a talented individual or team of individuals that will assist in innovating the operation.
As described by Truss, Mankin, and Kelliher, (2012:18) when looking at the ‘Innovation and Knowledge’ model of SHRM, it is evident that businesses who invest in talent management, have a more effective means of developing innovation and knowledge from within their business. This means that they can push to the forefront of the market and strategically gain competitive advantage over other businesses. This in turn will deliver a more professional, trusted, and respected image of the company adding value into their delivery.
SHRM does add value to a business if managed correctly, and assists in obtaining, maintaining, and developing talented individuals who can strategically innovate the market to prevent a business from stagnating.
Do others feel talent management is an important part of SHRM and adding value to a business?