Edwards Lifesciences' Talent Management Practices: Creating a Competitive Advantage

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Edwards was the world's leading company in the science of heart valves and hemodynamic monitoring. It was headquartered in Irvine, California, USA, and had regional headquarters in Nyon, Switzerland, and Toyko, Japan...

According to experts, Edwards had a strategic approach to talent management. The company felt that talent was critical to its overall business performance and as such, had established a robust talent management process in the company... Identifying Mission-Critical Jobs Charting the various functions within the company and identifying which operations were critical was a continuous practice at Edwards. The company identified 75 critical job functions and updated the list on a regular basis in accordance with the shifts in business strategy...

The management at Edwards believed that is was very important to attract the right kind of talent. Being in a very specialized industry, it required employees to have certain technical expertise that could only be obtained through work experience...

Succession planning was a key part of Edward's talent management strategy. For each of the critical positions, the company identified at least two employees who could act as replacements. To have such depth of talent, the company had to not only identify people who were potential successors for critical jobs, but also high-potential employees and key talent...

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