Talent management in professional services firms: a HR issue?

Abstract

Purpose

An increasing number of organizations are concerned with the internal management of talent. Over recent years there has been a proliferation of studies which attempt to quantify the value of the intangible assets held at a company, while human resource practices have taken on strategic significance for organizations, leading to a direct connection between the management of professionals and the achievement of the company's goals. The paper aims to address these issues.

Design/methodology/approach

In response to the strategic need to maintain a distinctive offering of talent within the marketplace of professional services companies, a dynamic simulation tool has been devised and used to analyze those policies which allow the flow of professionals to be adjusted in order for a company to fulfill market expectations in the event of different demand scenarios.

Findings

As a result of the analysis performed, the paper observed that a lack of flexibility within the organization tended to lead to a reduction in potential intellectual capital, and increased excess workload, together with a decline in the company's competitiveness within the marketplace, as seen in a drop in its level of corporate attractiveness.

Originality/value

By using scenarios, human resource (HR) managers can learn how to balance market demands and HR needs, considering the dynamic of organizational issues. According to the results obtained, the use of dynamic simulation models, like the one developed in this project, can improve the HR planning strategy in professional services firms.

Citation

Calvo Babío, N. and García Rodríguez, R. (2010), "Talent management in professional services firms: a HR issue?", International Journal of Organizational Analysis, Vol. 18 No. 4, pp. 392-411. https://doi.org/10.1108/19348831011081877