Impact of Talent Management on Employee's Pay and Compensations

Narantsatsral Yura; Ayush Andryei; Delgernasan Mishig

doi:doi:10.11648/j.jhrm.20231102.15

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Impact of Talent Management on Employee's Pay and Compensations

Narantsatsral Yura, Ayush Andryei, Delgernasan Mishig

Published in Journal of Human Resource Management (Volume 11, Issue 2)

Received: 2 March 2023 Accepted: 24 March 2023 Published: 27 June 2023

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Abstract

As part of a policy to attract skilled workers to the 21st century, talent management has been implemented and addressed in the entire total rewards system. There is a need to integrate talent pool (resources) and succession pools effectively into the total rewards system in the implementation of talent management. Therefore, the aim is to study the experience of foreign and domestic organizations implementing talent management in conjunction with the total rewards system, and to study the importance of hiring highly skilled employees with retein and engagement, properly evaluating and rewarding them, and opportunities to be productive. Many methodologies were used in the report and are described below. These include: “9 grid boxes for talent management and talent identification”, CIPD (Chartered Institute of Personnel and Development) Professional Map, Professional Standards V2.4 Skills Dictionary, “Skill Matrix” (2020), Balanced Scorecard (BSC), Mercer CED (Cullen Egan Dell), Will Tower Watson, AIHR-total rewards system, Decision No. 15 of the National Tripartite Committee on Labor and Social Consent, November 3, 2014, The methods of 100 ILO conventions were used. Result is a In order to integrate the Total rewards system with Talent management, it was concluded that it needs to be effectively implemented in accordance with the business characteristics of each organization and the position, diversity and generational characteristics of employees. Conclution is a Developed a methodology to study and evaluate the talent management of major Mongolian organization. Based on this, the ability to use talents and skills to reward employees of the organization is identified.

Published in	Journal of Human Resource Management (Volume 11, Issue 2)
DOI	10.11648/j.jhrm.20231102.15
Page(s)	70-77
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2023. Published by Science Publishing Group

Keywords

Talent Management, Talent Employee, Succession Planning, Skill Matrix Dictionary, Skill Matrix, Job Evaluation, Compensation, Total Rewards System

References

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[7]	Musaddag Elrayah * and Yahdih Semlali. Sustainable (2023). Total Reward Strategies for Talented Employees’ Sustainable Performance, Satisfaction, and Motivation: Evidence from the Educational Sector. Sustainability, 15, 1605.
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[9]	Robert E. Lewis, Robert J. Heckman (2006). Talent management: A critical review. Human Resource Management Review. Volume 16, Issue 2, pp 139-154.
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[12]	Swaminathan Mani, Mridula Mishra (2020). Non-monetary levers to enhance employee engagement in organizations–“GREAT” model of motivation during the Covid-19 crisis. In Strategic HR Review; Emerald Publishing Limited: Bingley, UK, Volume 19, Issue 4. Pp 171-175.
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[14]	A. Dayana Amala Jothi. A. Savarimuthu (2022). Talent Management in Academics: A Conceptual Analysis.: Journal of Positive School Psychology., Volume 6, No. 4, pp 9796 –9802.
[15]	Mohammed Al Haziazi (2021). Development of Framework for Talent Management in the Global Context. Open Journal of Business and Management. Volume 9, No 4, pp 1771-1781.
[16]	Azzam A. Abou-Moghli (2019). The Influence of Compensation Management Strategy on Talent Retention: Exploring the Mediating Role of Structural Capital. International Business Research; Volume 12, No. 3; pp 166-173.
[17]	Najameddin Sadeg Tumi & Ali Nawari Hasan & Jamshed Khalid, (2022). Impact of Compensation, Job Enrichment and Enlargement, and Training on Employee Motivation. Business Perspectives and Research., Volume 10. Issue 1, pp 121-139.
[18]	Josua Tarigan, Jordan Cahya, Albert Valentine, Saarce Hatane, Ferry Jie (2022), Total reward system, job satisfaction and employee productivity on company financial performance: evidence from Indonesian Generation Z workers. Journal of Asia Business Studies. Journal of Asia Business Studies. Volume 16. Issue 6, pp 1041-1065.

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APA Style

Narantsatsral Yura, Ayush Andryei, Delgernasan Mishig. (2023). Impact of Talent Management on Employee's Pay and Compensations. Journal of Human Resource Management, 11(2), 70-77. https://doi.org/10.11648/j.jhrm.20231102.15

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ACS Style

Narantsatsral Yura; Ayush Andryei; Delgernasan Mishig. Impact of Talent Management on Employee's Pay and Compensations. J. Hum. Resour. Manag. 2023, 11(2), 70-77. doi: 10.11648/j.jhrm.20231102.15

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AMA Style

Narantsatsral Yura, Ayush Andryei, Delgernasan Mishig. Impact of Talent Management on Employee's Pay and Compensations. J Hum Resour Manag. 2023;11(2):70-77. doi: 10.11648/j.jhrm.20231102.15

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@article{10.11648/j.jhrm.20231102.15,
  author = {Narantsatsral Yura and Ayush Andryei and Delgernasan Mishig},
  title = {Impact of Talent Management on Employee's Pay and Compensations},
  journal = {Journal of Human Resource Management},
  volume = {11},
  number = {2},
  pages = {70-77},
  doi = {10.11648/j.jhrm.20231102.15},
  url = {https://doi.org/10.11648/j.jhrm.20231102.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jhrm.20231102.15},
  abstract = {As part of a policy to attract skilled workers to the 21st century, talent management has been implemented and addressed in the entire total rewards system. There is a need to integrate talent pool (resources) and succession pools effectively into the total rewards system in the implementation of talent management. Therefore, the aim is to study the experience of foreign and domestic organizations implementing talent management in conjunction with the total rewards system, and to study the importance of hiring highly skilled employees with retein and engagement, properly evaluating and rewarding them, and opportunities to be productive. Many methodologies were used in the report and are described below. These include: “9 grid boxes for talent management and talent identification”, CIPD (Chartered Institute of Personnel and Development) Professional Map, Professional Standards V2.4 Skills Dictionary, “Skill Matrix” (2020), Balanced Scorecard (BSC), Mercer CED (Cullen Egan Dell), Will Tower Watson, AIHR-total rewards system, Decision No. 15 of the National Tripartite Committee on Labor and Social Consent, November 3, 2014, The methods of 100 ILO conventions were used. Result is a In order to integrate the Total rewards system with Talent management, it was concluded that it needs to be effectively implemented in accordance with the business characteristics of each organization and the position, diversity and generational characteristics of employees. Conclution is a Developed a methodology to study and evaluate the talent management of major Mongolian organization. Based on this, the ability to use talents and skills to reward employees of the organization is identified.},
 year = {2023}
}

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TY  - JOUR
T1  - Impact of Talent Management on Employee's Pay and Compensations
AU  - Narantsatsral Yura
AU  - Ayush Andryei
AU  - Delgernasan Mishig
Y1  - 2023/06/27
PY  - 2023
N1  - https://doi.org/10.11648/j.jhrm.20231102.15
DO  - 10.11648/j.jhrm.20231102.15
T2  - Journal of Human Resource Management
JF  - Journal of Human Resource Management
JO  - Journal of Human Resource Management
SP  - 70
EP  - 77
PB  - Science Publishing Group
SN  - 2331-0715
UR  - https://doi.org/10.11648/j.jhrm.20231102.15
AB  - As part of a policy to attract skilled workers to the 21st century, talent management has been implemented and addressed in the entire total rewards system. There is a need to integrate talent pool (resources) and succession pools effectively into the total rewards system in the implementation of talent management. Therefore, the aim is to study the experience of foreign and domestic organizations implementing talent management in conjunction with the total rewards system, and to study the importance of hiring highly skilled employees with retein and engagement, properly evaluating and rewarding them, and opportunities to be productive. Many methodologies were used in the report and are described below. These include: “9 grid boxes for talent management and talent identification”, CIPD (Chartered Institute of Personnel and Development) Professional Map, Professional Standards V2.4 Skills Dictionary, “Skill Matrix” (2020), Balanced Scorecard (BSC), Mercer CED (Cullen Egan Dell), Will Tower Watson, AIHR-total rewards system, Decision No. 15 of the National Tripartite Committee on Labor and Social Consent, November 3, 2014, The methods of 100 ILO conventions were used. Result is a In order to integrate the Total rewards system with Talent management, it was concluded that it needs to be effectively implemented in accordance with the business characteristics of each organization and the position, diversity and generational characteristics of employees. Conclution is a Developed a methodology to study and evaluate the talent management of major Mongolian organization. Based on this, the ability to use talents and skills to reward employees of the organization is identified.
VL  - 11
IS  - 2
ER  -

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Author Information

Narantsatsral Yura

Graduate School of Business, Mongolian University of Science and Technology, Ulaanbaatar, Mongolia
Ayush Andryei

School of Business Administration and Humanities, Mongolian University of Science and Technology, Ulaanbaatar, Mongolia
Delgernasan Mishig

School of Mechanical Engineering and Transportation, Mongolian University of Science and Technology, Ulaanbaatar, Mongolia

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APA Style

Narantsatsral Yura, Ayush Andryei, Delgernasan Mishig. (2023). Impact of Talent Management on Employee's Pay and Compensations. Journal of Human Resource Management, 11(2), 70-77. https://doi.org/10.11648/j.jhrm.20231102.15

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ACS Style

Narantsatsral Yura; Ayush Andryei; Delgernasan Mishig. Impact of Talent Management on Employee's Pay and Compensations. J. Hum. Resour. Manag. 2023, 11(2), 70-77. doi: 10.11648/j.jhrm.20231102.15

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AMA Style

Narantsatsral Yura, Ayush Andryei, Delgernasan Mishig. Impact of Talent Management on Employee's Pay and Compensations. J Hum Resour Manag. 2023;11(2):70-77. doi: 10.11648/j.jhrm.20231102.15

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@article{10.11648/j.jhrm.20231102.15,
  author = {Narantsatsral Yura and Ayush Andryei and Delgernasan Mishig},
  title = {Impact of Talent Management on Employee's Pay and Compensations},
  journal = {Journal of Human Resource Management},
  volume = {11},
  number = {2},
  pages = {70-77},
  doi = {10.11648/j.jhrm.20231102.15},
  url = {https://doi.org/10.11648/j.jhrm.20231102.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jhrm.20231102.15},
  abstract = {As part of a policy to attract skilled workers to the 21st century, talent management has been implemented and addressed in the entire total rewards system. There is a need to integrate talent pool (resources) and succession pools effectively into the total rewards system in the implementation of talent management. Therefore, the aim is to study the experience of foreign and domestic organizations implementing talent management in conjunction with the total rewards system, and to study the importance of hiring highly skilled employees with retein and engagement, properly evaluating and rewarding them, and opportunities to be productive. Many methodologies were used in the report and are described below. These include: “9 grid boxes for talent management and talent identification”, CIPD (Chartered Institute of Personnel and Development) Professional Map, Professional Standards V2.4 Skills Dictionary, “Skill Matrix” (2020), Balanced Scorecard (BSC), Mercer CED (Cullen Egan Dell), Will Tower Watson, AIHR-total rewards system, Decision No. 15 of the National Tripartite Committee on Labor and Social Consent, November 3, 2014, The methods of 100 ILO conventions were used. Result is a In order to integrate the Total rewards system with Talent management, it was concluded that it needs to be effectively implemented in accordance with the business characteristics of each organization and the position, diversity and generational characteristics of employees. Conclution is a Developed a methodology to study and evaluate the talent management of major Mongolian organization. Based on this, the ability to use talents and skills to reward employees of the organization is identified.},
 year = {2023}
}

Copy | Download

TY  - JOUR
T1  - Impact of Talent Management on Employee's Pay and Compensations
AU  - Narantsatsral Yura
AU  - Ayush Andryei
AU  - Delgernasan Mishig
Y1  - 2023/06/27
PY  - 2023
N1  - https://doi.org/10.11648/j.jhrm.20231102.15
DO  - 10.11648/j.jhrm.20231102.15
T2  - Journal of Human Resource Management
JF  - Journal of Human Resource Management
JO  - Journal of Human Resource Management
SP  - 70
EP  - 77
PB  - Science Publishing Group
SN  - 2331-0715
UR  - https://doi.org/10.11648/j.jhrm.20231102.15
AB  - As part of a policy to attract skilled workers to the 21st century, talent management has been implemented and addressed in the entire total rewards system. There is a need to integrate talent pool (resources) and succession pools effectively into the total rewards system in the implementation of talent management. Therefore, the aim is to study the experience of foreign and domestic organizations implementing talent management in conjunction with the total rewards system, and to study the importance of hiring highly skilled employees with retein and engagement, properly evaluating and rewarding them, and opportunities to be productive. Many methodologies were used in the report and are described below. These include: “9 grid boxes for talent management and talent identification”, CIPD (Chartered Institute of Personnel and Development) Professional Map, Professional Standards V2.4 Skills Dictionary, “Skill Matrix” (2020), Balanced Scorecard (BSC), Mercer CED (Cullen Egan Dell), Will Tower Watson, AIHR-total rewards system, Decision No. 15 of the National Tripartite Committee on Labor and Social Consent, November 3, 2014, The methods of 100 ILO conventions were used. Result is a In order to integrate the Total rewards system with Talent management, it was concluded that it needs to be effectively implemented in accordance with the business characteristics of each organization and the position, diversity and generational characteristics of employees. Conclution is a Developed a methodology to study and evaluate the talent management of major Mongolian organization. Based on this, the ability to use talents and skills to reward employees of the organization is identified.
VL  - 11
IS  - 2
ER  -

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