The Talent Management ? a real challenge for SKF Bearings business in Bulgaria

The Talent Management topic is extremely extensive. At a time of global economic recession (2016) and a subsequent boom in the first quarter of 2017, unclear markets, great pace of change, and an extreme need for flexibility, each organization relies on its talents to overcome them. Good practices show that they best deal with the "crisis" of companies in which there are built-up, robust talent management processes and continuity planning.This topic is a real challenge for SKF Bearings company in Bulgaria witch consists of three independent plants located in the town of Sopot, the town of Kalofer and the village of Karnare. In view of the demographic development of the area in which the Company is located, the problem of building up its own staff and continuity for all levels of government is at the forefront. Another challenge is the stagnation in the labor market and the lack of expertise. Bulgaria is an increasingly preferred destination for exporting labor - intensive production facilities from central Europe to automotive and not only industry. For companies, this mean that they will have to where with the available staff, which posses the challenge of retaining, re-qualifying and increasing knowledge, skills, performance and motivation.In view of the increasing turnover in trends of the company, the task of continuity of the business processes from the point of view of the human resource is at the forefront and the implementation of a Talent Management system is with high priority for the organization. Talent Management aims to ensure that SKF has the right people in the right place in order to stimulate the business and to succeed in the market - today and tomorrow. It is about creating the right conditions for employees to maximize their potential and focus on their own development and careers.