Global Talent Management Initiatives For Global Talent Challenges
Beginning in the late 1990s, firms around the world were confronted with a major threat to doing business: a demand for talented employees that far surpassed the supply, thus creating a global talent shortage (Chambers, Foulon, Handfield-Jones, Hankin and Michaels, 1998; Michaels, Handfield-Jones and Axelrod, 2001). As a consequence, firms faced many subsidiary challenges including having the right number of competent employees at the right place and at the right time. "Talent acquisition, retention and management" became a key expression (challenge) in global business. Academically, the interest in this challenge came to be embraced with the label of "Global talent management" or GTM.