Question

"SWOT Analysis and Course Summary" Please respond to the following:

• Create a SWOT analysis of the usefulness of talent management in general. List the Strengths, Weaknesses, Opportunities and Threats (SWOT) that could propel an organization toward the creation of a specific method to identify and develop the talent within the organization.
• Using 140 characters or less (the length of a Tweet), summarize the importance of this class to someone unfamiliar with the concepts.

Answer 1

Talent management

Strengths

• Talent management helps to identify the best talent who is suitable in conducting the organizational tasks

• Talent management is an effective way of increasing organizational productivity by encouraging and managing the talent

• Talent management is the most appropriate way for evaluating the reward, recognition and retention policy of an organization

Weaknesses

• Talent management is a time-consuming program

• Talent management can be costly for small or medium-sized organizations

• Lack of support from any of the line managers can reduce the productivity of talent management

Opportunities

• Talent management can control the problem of talent shortage in the organization

• Proper orchestration of talent can be a future asset for the company

Threats

• Investing too much on talent management can create resource issue in future

• Getting support for talent management from all the departments at a time can be a critical task.

SWOT analysis is an essential way of analyzing the existing advantages and disadvantages of the internal and external environment of the organization. Strengths and weaknesses demonstrate the advantages and problems in the domestic environment while the opportunities and threats have described the external advantages and disadvantages. SWOT analysis for talent management has been conducted t understand the internal and external benefits and drawbacks of talent management. Talent management is an effective way of increasing organizational skills and productivity. At the same time, talent management is time-consuming and costly, which can create a financial issue for smaller organizations.