Personal Experiences in the Human Resource Department of the China Merc

1. Introduction: As a new wealth for the organization, the businesses are noticing that the talent is the treasure of the company. In twenty-first century, organizations are facing the challenges of human capital that are also called â€Å"war for talent†(Ashton, and Morton, L. 2005; McKinsey, 1990). As a valuable treasure, talents whom can improve business performance and create contributions to the business become the centre of attention especially under the talent shortage environment. Cappelli (2008) notices that the rising star is worth to fight. Outstanding talent is crucial for business to achieve the competitive advantages (Iles et al., 2010). For a successful company, talented people play a center role. Thus, talent management becomes increasingly important for businesses to successes. The aim of this paper is to analyze the personal experiences in the human resource department of the China Merchants Bank (CMB) through a review of the literature. This paper begins with a discussion of the definitions of the talent and talent management. In the third part, the significance of talent management will be shown. Fourthly, this work will distinguish between the human resource management and talent management. It will develop the fundamental processes of the talent management. In the following sections, its theoretical arguments for the barriers for the talent management and the critiques are shown in the fifth section. Finally, the writer’s personal experience of going to work for the China Merchants Bank will be analyzed. 2. Literature review 2.1 What is talent McKinsey (2008) defines talent is a rising star with high skills, knowledge, experience, intelligence, attitude, intrinsic gifts and ability to learn and develop (cite... ...nizational Dynamics. 29:248-259. Tansley, C., and Tietze, S. (2013). Rites of passage through talent management progression stages: an identity work perspective. The International Journal of Human Resource Management, 24(9), 1799-1815. Tarique, I., and Schuler, R. S. (2010). Global talent management: Literature review, integrative framework, and suggestions for further research. Journal of world business, 45(2), 122-133. Silzer, R., and Dowell, B. E. (2010). Strategic talent management matters. In R. Silzer, & B. E. Dowell (Eds.), Strategy-driven talent management: A leadership imperative (pp. 3–72). San Francisco, CA: Jossey-Bass. Stephenson, E., and Pandit, A. (2008). How companies act on global trends: A McKinsey global survey. McKinsey, Boston, MA. Torrington, D., Hall, L., Stephen, T., and Atkinson, C., 2011. Human resource management. 8ed. Essex: Pearson.