Hrm 532 Mcdonald's Case Study

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McDonald’s Case Study Talent Management (HRM 532) July 17, 2015 Introduction In order for a marketplace to be competitive, talent management is the driving force for an organization’s success. Technically defined, talent management is the implementing of integrated strategies or systems designed for the productivity of the workplace to increase. This process is done by developing more adequate processes for attracting, training, retaining and using people with the necessary skills to meet the needs of the business both now and in the future. A workforce study done recently shows that 85% of HR personnel have said that “one of the biggest obstacles in workforce management is creating and maintaining the things of the company that makes them stand out”. Without question, effective talent management provides one of the most critical points of strategic leverage today. Literature Review Outline the talent management program that led to success for the company. Year 2002 was the year to remember for McDonald’s. This marks the year McDonald’s had their first loss in profit and the company had to evaluate what happened because up until that point, they had outstanding performance. After carefully looking at all angles of the company, it was clear that the problem was in the Talent Management process. It had to be revised so that it would agree with the company’s business objectives and policies. Talent management is defined as “a subset of human resource (HR) processes, programs, and tools designed to identify, assess, develop, and retain talent. The first two steps in achieving success for the company was to revamp their performance development system (PDS) throughout the company. This included all staff members, along with creating a new talent review process for the upper-management positions in the company as well. After that, a sequence of enhanced

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