Transformations  in
Business & Economics

SIMULATION OF TALENT MANAGEMENT: AN OPPORTUNITY FOR MANAGERS
Nuria Calvo, Rafael Garcia

ABSTRACT. This article reviews the consequences of introducing certain policies in consulting firms, from the point of maintaining intellectual capital, by devising a simulation tool to aid in decision-making at an executive level. Consultancies base the competitive edge of their offering on the talent of their professionals, despite the difficulties inherent in, on the one hand, depending internally on a resource, which may of its own volition choose to leave the company, and on the other, depending externally on a demand for services, which is sensitive to variables outside control of the organization. Devising a dynamic simulation tool to aid in decision-making at an executive level, it was found that, while the external demand for consultancy services determines the number of consultants required within the sector as a whole, knowledge management policies of each organization determine its internal capacity to create and maintain its intellectual capital within the sector.

KEYWORDS: strategy planning, change management, consultants, dynamic simulation, human resources planning.

JEL classification: M12.