Talent management is a crucial principle in sustainable development of organizations. Different institutions apply varying strategies to ensure continued growth of their talent pool and fulfillment of their corporate social responsibilities within their market segment. In essence, much of these practices depend on multiple factors, including managerial skills alongside with the business environment. This paper provides an analytical case scenario comparing IKEA’s approach to the ones embraced by Coca Cola Company in handling the talents in distinctive circumstances.
The case at IKEA is an exemplary situation of how institutional culture in skill management can propel the firm to have a pivotal space in any industry. Notably, utilizing employee-centered principles seems to bolster their strategic approach in this segment. Using values such as cultural conformity among employees, friendly environments, flexible working conditions, and care facilities provide fundament feature in their corporate responsibilities career developments. At the same time, opening up to employees and making them feel part of the institution’s growth is another approach used by IKEA to help their personnel enhance their skills as part of the company (IBS Center for Management Research n.d., p 10). Such strategies have the capacity to propel a company to greater levels within any industry.
On the one hand, the IKEA focuses on organizational culture as the key concern in recruitment and talent management. Concurrently, they ensure that their employees understand their economic values and principle during the recruitment processes to come up with the best talents in the economy (Mahajan, 2019). As a result, the company has a systemic methodology of training and empowering their employees as a managerial secret.
On the other hand, the Coca Cola Company has unique strategic approach to promoting and managing talents in their conquest to boost company roles within the beverage industry. One of the key techniques involves utilizing information communication technology to understand the growing trends in talents and expertise among young generations. This firm understands the value for continued growth by enhancing their global competitive advantage by investing in research and technology. Accordingly, their vital organs include prevalent analysis of the circumstances such as urban growths, shifts in economic powers, and food or beverage prices within the universal scale (Johennesse and Chou, 2017). Essentially, they consider sustainable development as a key pillar in their characteristic approach to recruitment and talent management.
Therefore, these two companies focus on differing strategies in handling workers. Coca Cola utilize technology and environment to promote current operations during recruitment while IKEA use culture and values to tap and harness skills in the industry. Such variances are evident in departmental approach to different products (Ganaie and Haque, 2017). The reason behind the success of each of these companies’ technique is the practice of valuing the employees and community at every stage in decision-making. Principally, every aspect of their growth depends on the utilization of all tools of talent management, including workforce planning, recruiting, coaching, goal designs, and leadership skills alongside the recognition of diversity benefits (Gehani 2016 p 13). Concurrently, the company has become one of the prominent beverage sellers in the world.
To conclude, IKEA’s illustrations of leadership skills in managing talents and enhancing corporate values seem to be anchored on employees’ position in the company. Likewise, Coca Cola’s value of environment and sustainable development depends on how they value their workers. Therefore, it is important to note that talents are imperative in the growth of any enterprise. In essence, one need to have effective leadership skills and management principles to come up with the best strategy to manage such pools of workforces and cultures.
Reference List
Ganaie, M.U. and Haque, M.I., 2017. Talent management and value creation: A conceptual framework. Academy of Strategic Management Journal, 16(2), pp.1-9.
Gehani, R.R., 2016. Corporate brand value shifting from identity to innovation capability: from Coca-Cola to Apple. Journal of technology management & innovation, 11(3), pp.11-20.
IBS Center for Management Research. n.d. IKEA’s Talent Management and Corporate Culture (420-0058-1)[PDF document]
Johennesse, L.A.C. and Chou, T.K., 2017. Employee Perceptions of Talent Management Effectiveness on Retention. Global Business & Management Research, 9(3).
Mahajan, A., 2019. Relationship of Talent Management with Organizational Culture: A Discussion Paper. Indian Journal of Industrial Relations, 54(3).