HRM331: Talent Management – Strategic Shift from the War for Talent to the Wealth of Talent, Singapore

Question (100 marks)

The debate between the War for Talent and Wealth of Talent has taken on new significance in the AI and machine learning era, where industries are rapidly evolving, and workforce needs are shifting.
Your task is to analyse a relevant case where an organisation is grappling with the challenges of acquiring, developing, or retaining talent. Drawing insights from your analysis of ecosystem relations within the selected context, identify a strategy to help the organisation transition from a competitive “War for Talent” approach to a collaborative “Wealth of Talent” model, leveraging AI and industry trends to create a sustainable talent ecosystem. Create a theoretical or conceptual case for this transition. Judge the opportunities and challenges associated with changing or evolving this policy or practice. Design boundary-crossing strategies that can be employed to facilitate the change.

Pointers:

1. Case Selection:

•Choose a relevant case where an organisation is grappling with the challenges of acquiring, developing, or retaining talent.

2. Ecosystem Analysis:

•Provide a brief analysis of ecosystem relations of your selected case in relation to the organisation’s approaches towards talent management and change. You may draw from your TMA, if you wish.

3. Policy/Practice Identification:

• Identify a specific policy or practice that could help the organisation transit from a competitive “War for Talent” approach to a collaborative “Wealth of Talent” model, highlight opportunities for fostering innovation and building resilience.

4. Theoretical or Conceptual Rationale:

Create a theoretical or conceptual case for this transition, drawing insights from your analysis of ecosystem relations within the selected context.

5. Opportunities and Challenges:

•Examine the potential opportunities for this transition, highlighting how the collaborative “Wealth of Talent” model may be helpful for the organisation. Assess the challenges that may be encountered in the change process.

6. Boundary-Crossing Strategies:

•Design strategies for crossing boundaries that could facilitate the successful transition.

7. Evidence Utilization:

• Support your analysis with evidence. This may include materials from interviews, document analysis, authentic observations, and personal reflections.

Expected Outcome: By the end of this exercise, you should have developed a comprehensive and well-supported proposal for transforming the organization’s talent management approach to align with evolving industry trends and advancements in AI and machine learning.

Your proposal should critically evaluate the current talent strategy, highlight opportunities for fostering innovation and building resilience, and address challenges in transitioning from a competitive War for Talent model to a collaborative Wealth of Talent framework.

Additionally, your proposal should incorporate evidence-based recommendations, leadership strategies, and practical implementation steps to ensure sustainable talent development within a dynamic ecosystem.

Please note:

Your assignment should not exceed 3000 words.
Use the APA referencing format as appropriate in-text citations. An accurately formatted reference section is expected. The reference list and any appendices are not included in the word count.