A simulation tool for talent management in knowledge-intense firms. An opportunity for HR managers?
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A simulation tool for talent management in knowledge-intense firms. An opportunity for HR managers? Nuria Calvo • Marı´a Bastida • Jacobo Fea´s
Published online: 16 January 2013 International Network of Business and Management 2013
Abstract This article reviews the consequences of introducing certain policies in consulting firms, from the point of maintaining intellectual capital. Consultancies base the competitive edge of their offering on the knowledge of their professionals, despite the difficulties inherent in depending internally on a resource which may of its own volition choose to leave the company, and depending externally on demand for services. Devising a dynamic simulation tool to aid in decision-making, we found that, while the demand for consultancy services determines the number of consultants required, the knowledge management policies of each organization determine its internal capacity to maintain its intellectual capital within the sector. Keywords Strategy planning Change management Consultants Dynamic simulation Human resources planning
Introduction The issue of managing the talent within their ranks represents a concern for an increasing number of organizations. Over recent years we have seen a proliferation of studies which aim to quantify the value of the ‘‘intangible assets’’ held by the company, and human resources practices have taken on a ‘‘strategic’’ role for N. Calvo (&) University of A Corun˜a, Campus de Elvin˜a, s/n, 15701 A Corun˜a, Spain e-mail: [email protected] M. Bastida J. Fea´s University of Santiago de Compostela, Avda. Xoa´n XXIII, s/n., 15782 Santiago de Compostela, Spain e-mail: [email protected] J. Fea´s e-mail: [email protected]
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organizations, establishing a direct relationship between the management of professional staff and the achievement of corporate objectives (Table 1). Literature considers that, to assure the value of professionals to develop and contribute to an increase in the market value of their organization, it is essential that the most appropriate human resources policies be devised, in accordance with demand, competition, and the specific characteristics of employees themselves, to create a ‘‘human capital advantage’’ (Boxall 2006; Lo´pez Cabrales et al. 2009; Minbaeva 2008). A failure to do this could not only gradually devalue the organization, but also could do so suddenly through the undesired departure of those professionals most valued by the market (Martell and Carroll 1995; Subramony 2009).
Table 1 Literature review Scientific perception
Authors
Key issues
Resources and capacities as base of competitive advantage
Rumelt (1984)
Intellectual capital, strategic resource for consultancies
Barney (1991) Peteraf (1993) Hatch and Dyer (2004)
Dynamic approach of resource-based view
Dierickx and Cool (1989)
Organizational practices as key capacities base of competitive advantage
Amit and Shoemacker (1993) Grant (1996) Intellectual capital as human resources investment. ‘‘Knowledg
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