Envision an organization (profit, nonprofit, product-or service-driven) with 200 people in which 20 are identified leaders. With this organization in mind, write a four page paper in which you:...

Running Head: TALENT MANAGEMENT STRATEGY    1
TALENT MANAGEMENT STRATEGY         8
HUMAN RESOURCE MANAGEMENT
TALENT MANAGEMENT STRATEGY
Table of Contents
Introduction    3
1. Talent Management Strategy formulated for the Organization    3
2. Key Components of Talent Management    4
3. Role of Talent Management in providing Competitive Advantage to Organization    5
4. Change in Talent Management Strategy on Doubling of Organization in 5-6 years    6
Conclusion    6
References    7
Introduction
    The company selected for implementation of the strategy is ‘Atlassian’, a San Francisco organization, where 232 employees work. This company develops software. Like other organizations, this company can also implement talent management as strategy to double its revenue. Talent management can be defined as a strategy, in which human resources efficiency has been used strategically to improve quality of business.
1. Talent Management Strategy formulated for the Organization
    Steps included in talent management are recruitment, retention, development, distribution of rewards and encouragement of employees to perform well. The best strategy that can be used to improve the company’s talent is by hiring fresh talent from various department. As suggested by McDonnell, Collings, Mellahi and Schuler (2017), hiring of people from various field improves the quality of work. Another important step is to hire the strong Human Resource (HR) team, having experience in other departments also. For example, the HR manager has experience as a line manager or sales manager. Forming the team with each member having knowledge of different departments of organization helps in hiring of employees having high quality knowledge of work in their respective area.
The other important strategy, which can be implemented, is employer
anding. As mentioned by Bali (2016), employer
anding is process of formation the image of
and and promote it as a prefe
ed employer. This helps in attracting new talent. People especially newly recruited ones prefer to join the organization having good reputation in the industry. Attracting new talent is the main aim of all the organization whether they are multinational, or newly formed company. Employer
and can be defined as package of functional, economic and psychological benefits given by employer to their hiring company. Employment
anding shows the company’s unique offerings to their employees.
2. Key Components of Talent Management
    There are various components, which are involved in talent management. As suggested by Tafti, Mahmoudsalehi and Amiri (2017), the main components of talent management involve strategic employee planning, talent acquisition and retention, performance management by assessing and developing talent, learning and motivating, compensation, career development as well as succession planning.
Strategic Employee Planning: 
    Development of goal and strategy is the foremost step. After that, steps are taken...