Edwards Lifesciences' Talent Management Practices: Creating a Competitive Advantage

Abstract:

This case discusses the talent management processes of Edwards Lifesciences Corp. (Edwards), the world's leading heart valves and hemodynamic monitoring company. It also discusses how having talent in key areas helps foster innovation in the company and results in it obtaining a competitive advantage. Since Edwards was spun off from Baxter International Inc. (Baxter) in 2000, the company showed good business performance with a consistent rise in revenues and increase in its stock prices. It came out with many innovative products that helped it hold its own in a highly competitive industry with many competitors that were much larger.

The company's Chairman and CEO, Michael A. Mussallem (Mussallem), and its Corporate Vice President, Human Resources, Robert C. Reindl (Reindl), saw a good correlation between its innovation and business performance and the company's its rich pool of talent.

While the talent management processes at Edwards started taking shape even before it was spun off in 2000, after obtaining its new identity, Mussallem and Reindl worked closely to put talent management up as a key priority on the company's agenda and wove it into the company's business strategy. The talent management initiatives at Edwards included a meticulous process to identify the company's mission critical jobs, talent acquisition, succession planning, training and development, and evaluation. The company also developed a unique culture that helped it realize its organizational objectives and promote a performance culture. Experts felt that the Edwards's talent management process had resulted in the company gaining a competitive advantage.

Issues:

» To understand the issues and challenges in talent management.

» To study the talent management processes of Edwards Lifesciences.

» To understand how talent management helped foster innovation at Edwards Lifesciences.

» To understand how effective talent management can lead to a competitive advantage.

Contents:

Key Words:

Talent management, Competitive advantage, Innovation , Creativity , Talent management process, Talent Acquisition , Talent Development, Credo , Mission-critical jobs, Organizational structure, Training and Development, performance management, Employee Engagement Index, Performance culture, Organizational culture, 'creative debate', 'Don't blame, learn'

People-Powered Innovation and Growth - Next Page>>

---

Custom Search

---

Introduction to Human Resource Management Textbook Textbooks Collection	Introduction to Human Resource Management Workbooks Collection	Case Studies in Human Resource Management Volume V Case Study Volumes Collection