8

.1 Article review - Performance management in a rapidly changing world implications for talent mana

School

MARA University of Technology**We aren't endorsed by this school

Course

MGT 783

Subject

Management

Date

Jan 3, 2025

Pages

Uploaded by ChefMolePerson4307

PERFORMANCE MANAGEMENTIN A RAPIDLY CHANGINGWORLD: IMPLICATIONSFOR TALENT MANAGEMENTANIS AFRINA BINTI MAZLAN (2024689074)PUBLISHED ON MARCH 2024Jane F. Maley, Marina Dabic, Alain Neher, Lucia Wuersch,Lynn Martin and Timothy Kiessling

FRONT PAGE OF ARTICLE

What is Talent Management?TM can be described as the activities and processes that involve the systematicattraction, identification, development, engagement, retention, and deployment ofthose talents which are of particular value to an organization in order to createstrategic sustainable success (According to Boudreau & Ramstad, 2005; Collings &Mellahi, 2009; Scullion, Collings, & Caligiuri, 2010)

INTRODUCTIONImpact of COVID-19:Interdependence of PM and Talent ManagementNeed for a Paradigm ShiftThe introduction highlights how the COVID-19 pandemichas significantly transformed business practices,compelling organizations to reassess and adapt theirperformance management (PM) and talent managementstrategies in response to a rapidly changing andunpredictable environment. It emphasizes the close relationship between PM and talentmanagement within the human resource management(HRM) framework, noting that both are crucial fordeveloping employee capabilities and retaining talent,especially in the context of the challenges posed by thepandemic. The authors argue for a paradigm shift in PM to bettersupport talent management in the post-COVID-19landscape, advocating for the integration of technologicaladvancements and a focus on employee engagement andwell-being to enhance organizational competitiveness.

METHODOLOGYConceptual Approach The authors use a conceptualframework to examine theevolving landscape ofperformance management(PM) and talent managementin the post-COVID-19environment.This approach enables them tosynthesize existing literatureand theoretical insights, ratherthan conducting empiricalresearch.Literature Review Theoretical FrameworkApplication The methodology includes acomprehensive review ofexisting literature on PM andtalent management.Focus is placed on thechallenges and changesbrought by the pandemic.The review identifies keytrends and gaps in currentpractices.Findings inform thedevelopment of the proposedPM model.The authors use StrategicContingency Theory (SCT) andVUCA theory as foundationalframeworks.These theories help explainhow organizations can adaptPM processes to addressmodern businesscomplexities.The goal is to improve talentmanagement strategies inresponse to these challenges.

THEORETICALFRAMEWORK Strategic ContingencyTheory (SCT):

THEORETICALFRAMEWORK Volatility, Uncertainty,Complexity, andAmbiguity (VUCA)Theory:

Transformation of PM Practices: Focus on EmployeeEngagement and Well-Being: Digital Transformation: The COVID-19pandemic has drivenMNCs to reassess andtransform their PMpractices.Organizations areshifting fromtraditional methodslike timekeeping andrigid ratings to a moreoutcome-orientedapproach thatemphasizes employeeperformance andwell-being.There is a renewedfocus on employeeengagement andwell-being in PM.MNCs recognize theimportance ofmental health andwork-life balance,especially in remotework settings andevolving employeeexpectations.The necessity for digitaladaptation has becomeevident, with MNCsimplementing newdigital tools forperformance trackingand revisingperformance indicatorsto align with thedisruptions caused bythe pandemic. FINDINGSProposed PM Model: Digital Communication:Enhancingcommunication throughdigital platforms.Employee CapabilityDevelopment:Investingin the development ofemployee skills to meetevolving business needs.Outcome Orientation:Focusing on outcomesrelated to employeeengagement and well-being to driveperformance.

ConclusionThe COVID-19 pandemic has necessitated a fundamental shift inperformance management (PM) practices for multinationalcorporations (MNCs).Traditional PM approaches are insufficient in addressing thecomplexities and uncertainties of the current business environment.A new PM model is proposed, emphasizing:Digital communicationEmployee capability developmentFocus on engagement and well-beingThis new PM model is essential for effectively managing talent in therapidly changing landscape.MNCs should actively implement the proposed PM(Performance Management) model to enhance their talentmanagement strategies and align with the evolving needs ofemployees.Organizations are encouraged to invest in digital tools andtraining to facilitate remote performance tracking andcommunication.MNCs should prioritize employee engagement and well-beinginitiatives to foster a motivated workforce.Recommendation