The company’s policies have high profile projects, all organized in phases to require the use of work teams. The company has also a well-established human capital for the proper remuneration and motivation of the employees who work in work teams. The human capital caters for training the employees as the technology advancements may require. Training is followed by evaluation, which extends to the strategic analysis of the future skills requirement. In the company teamwork minimize the managerial burden since the teamwork is in collaboration with an overall objective.
The company skills requirements are precise which attracts talents to work in specific categories. The company’s workforce is organized into work schedules, which further calls for work teams whose effect is to promote the health and well being of the employees as well as a solution psychological violence in the company (Johnson & Phillips, 2003). Virgin cosmetic company produces very unique products that require specialized skills and a great degree of specialization.
The talents, which find their application at the company, are meaningfully utilized, fully occupied, and adequately remunerated as a company’s future advantage towards their retention (Johnson & Phillips, 2003). Virgin cosmetics company focuses on attraction of new talents as the potential talents approaches retirement, while at the same time aiming to retain the key talent that are still active in their roles. This is based on the realization that there looms an anticipation of shortage of talents in the near future in a global perspective.
The company’s efforts towards employee satisfaction are enhanced as the company realizes that this is crucial to the employees’ commitment to social responsibilities. The satisfied employees have been found to have some positive views about the company facilitating a forward sense of direction, completeness, integrity and some interests in their well-being. The satisfaction of the employees in the company makes them feel that the company is competitive in the market place, a sense that increases their output and cohesion to the company (Cummins, 2005).
The company’s strategic talent management is achieved by the company’s ability to coordinate its activities at a global point while the relevant actions are performed at the local levels of the employees. This helps the company to adapt to a variety of regulatory issues and compliance with data privacy laws (Cummins, 2005). The company is very keen to its executives responsible towards the management of the human resources to keep pace with the global competition for talents that are being called for by the imminent potential talent shortage.
The company is well aware that unlike the Internet decade, which left some players behind, the business situation is different today. All companies have adopted the relevant technologies being called for by globalization of the current decade. This will create a clear disparity between winners and losers of the current global market place (Lokwood, 2005) The company is retaining its high talents through assigning the high potentials more challenging roles at intermittent intervals while appreciating their output through corresponding salary packages and benefits (Lokwood, 2005)
Conclusion For most companies acting on a global capacity, capital and other factors of production is not a limitation. The production of high quality products is neither a limitation. Marketing has also -been addressed successfully such that the whole process of production is quite successful. The success has been of vital consequences towards expansion of human skills requirements. The advance in technology is also accompanied by skills of high standards requirement.
The scenario has consequently created a competition for human resource talents. To keep in pace with globalization as an epitome of the current decade, companies should strategically address the issue of global talent management. Virgin cosmetic company has put in place very challenging strategies to address the issue.
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