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Strategic Talent Development in the Knowledge Economy: A Comparative Analysis of Global Practices

Author

Listed:
  • Zidan Shan

    (Harbin University of Science and Technology)

  • Yaqi Wang

    (Harbin University of Science and Technology)

Abstract

In the ever-evolving landscape of the knowledge economy, organizations must align their talent development strategies with the demands of a dynamic global business environment. This research undertakes a comprehensive exploration of talent development practices on a global scale. It seeks to unravel the intricacies of how organizations strategically align their initiatives with the evolving demands of the knowledge economy. Drawing on data from diverse industries and regions, this study aims to provide a nuanced understanding of the contextual factors that shape effective talent development. It pursues three primary objectives: analyzing global talent development practices, identifying challenges and opportunities, and offering actionable insights for organizations. Key findings highlight regional variations in commitment to talent development, with Asia, the technology sector, and smaller organizations exhibiting notable dedication. Employee satisfaction with training programs remains high, showcasing the adaptability of talent development efforts in accommodating diverse needs. Emerging trends, such as digital platforms, data-driven personalization, and collaborative learning networks, offer promising avenues for enhancing talent development effectiveness. The study’s theoretical implications emphasize the importance of human capital investment, continuous learning, technological innovation, and networked collaboration. Managerial implications underscore the need to prioritize talent development as a strategic investment, cultivate a culture of constant learning, integrate technological innovation, and foster networked collaboration. This research contributes to the existing body of knowledge by offering practical insights that organizations can leverage to optimize their talent development strategies. It addresses the complexities of talent development in a rapidly evolving knowledge economy, providing a roadmap for organizations to navigate and thrive in this dynamic environment.

Suggested Citation

  • Zidan Shan & Yaqi Wang, 2024. "Strategic Talent Development in the Knowledge Economy: A Comparative Analysis of Global Practices," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(4), pages 19570-19596, December.
    • Handle: RePEc:spr:jknowl:v:15:y:2024:i:4:d:10.1007_s13132-024-01933-w
    DOI: 10.1007/s13132-024-01933-w
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