THE ROLE OF THE HRM NETWORKS IN THE ATTRACTION, RETENTION AND DEVELOPMENT OF TALENTS OF ESTONIAN ORGANIZATIONS

Abstract

Most global talent surveys mutually emphasize the labour market’s general and painful talent shortage. No country or industry is protected against talent migration and drought. Although some countries or regions have understood the vast role of talent attraction and retention in the region’s success, most governments need to pay more attention to this issue. Employees and HRs feel alone in this continuous war for valuable employees. The labour market parties increasingly see the trend where only mutual efforts in attracting talent can lead to success in this global competition. The talent management functions have exceeded the companies’ borders lines, and regional/sectoral collaboration is the only possibility to attract and keep talent in the region and its industries. This article aims to conceptualize the strategic activities and principles of the HR networks in supporting the member companies’ talent attraction and retention ability based on the Estonian experience. Together with the HR networks and with the help of the theory and other cases, the authors bring out the main principles and actions on how the HR networks can support organizations in the continuous fight for talent. The originality of the article is that talent management from the point of view of the network and networking opens a new perspective for talent attraction and development – for different levels of crossborder organizational collaboration and research opportunities.