The Talent Management ? a real challenge for SKF Bearings business in Bulgaria

Maria Tumbeva () and Elmira Bantcheva ()
Additional contact information
Maria Tumbeva: New Bulgarian University
Elmira Bantcheva: New Bulgarian University

No 5808168, Proceedings of International Academic Conferences from International Institute of Social and Economic Sciences

Abstract: The Talent Management topic is extremely extensive. At a time of global economic recession (2016) and a subsequent boom in the first quarter of 2017, unclear markets, great pace of change, and an extreme need for flexibility, each organization relies on its talents to overcome them. Good practices show that they best deal with the "crisis" of companies in which there are built-up, robust talent management processes and continuity planning.This topic is a real challenge for SKF Bearings company in Bulgaria witch consists of three independent plants located in the town of Sopot, the town of Kalofer and the village of Karnare. In view of the demographic development of the area in which the Company is located, the problem of building up its own staff and continuity for all levels of government is at the forefront. Another challenge is the stagnation in the labor market and the lack of expertise. Bulgaria is an increasingly preferred destination for exporting labor - intensive production facilities from central Europe to automotive and not only industry. For companies, this mean that they will have to where with the available staff, which posses the challenge of retaining, re-qualifying and increasing knowledge, skills, performance and motivation.In view of the increasing turnover in trends of the company, the task of continuity of the business processes from the point of view of the human resource is at the forefront and the implementation of a Talent Management system is with high priority for the organization. Talent Management aims to ensure that SKF has the right people in the right place in order to stimulate the business and to succeed in the market - today and tomorrow. It is about creating the right conditions for employees to maximize their potential and focus on their own development and careers.

Keywords: talent; talent management; company strategy; business analysis; development (search for similar items in EconPapers)
Pages: 19 pages
Date: 2017-10
New Economics Papers: this item is included in nep-cse
References: View complete reference list from CitEc
Citations:

Published in Proceedings of the Proceedings of the 33rd International Academic Conference, Vienna, Oct 2017, pages 296-314

Downloads: (external link)
https://iises.net/proceedings/33rd-international-a ... =58&iid=071&rid=8168 First version, 2017

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sek:iacpro:5808168

Access Statistics for this paper

More papers in Proceedings of International Academic Conferences from International Institute of Social and Economic Sciences
Bibliographic data for series maintained by Klara Cermakova ().