This case discusses the talent management processes at Edwards Lifesciences Corp, 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 obtaining a competitive advantage. Since Edwards was spun off from Baxter International Inc. in 2000, the company showed good business performance with a consistent rise in revenues and increase in its stock prices. The company's Chairman and CEO, Michael A Mussallem, and its Corporate Vice-President, Human Resources, Robert C Reindl, saw a good correlation between its innovation and business performance with a rich pool of talent. 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.

In November 2009, the world's leading heart valves and hemodynamic monitoring company, Edwards Lifesciences Corp. (Edwards), announced that it expected its revenue to grow by more than 10% in 2010, which was much higher than analysts had predicted. Earlier, the company had announced stellar results for the first three quarters of 2009, and said that its full-year 2009 revenue was expected to be in the range of US$1.30 bn to US$1.35 bn. Analysts felt that the company had grown at a fast and consistent rate since it was spun off from Baxter International Inc. (Baxter) in 2000. The growth had been driven by its innovative products. For instance, its transcatheter heart valves, introduced in 2008 and sold under the brand name `SAPIEN', were hailed as a major innovation. The company's stock price had risen from an initial public offering price of US$14 to around US$90 in November 2009.

Both Michael A Mussallem (Mussallem), Chairman and CEO of Edwards, and Robert C Reindl (Reindl), Corporate Vice-President, Human Resources, at Edwards, attributed the success of the company to its rich pool of talent, nurtured over the years through its talent management processes. "If we didn't have these people, none of our successes would have been possible," said Reindl.

While the talent management processes at Edwards started taking shape even before it was spun off in 2000, it was after it obtained its new identity that 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. "Failing to meet our workforce targets is as serious as missing a sales goal for the quarter," said Reindl. 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 had also developed a unique culture that helped it realize its organizational objectives and promote a performance culture. Experts felt that Edwards' talent management process had resulted in the company gaining a competitive advantage.

HRM Review Magazine, Edwards Lifesciences, Talent Management Processes, Business Performance, Hemodynamic Monitoring Company, Performance Culture, Business Strategy, Medical Technologies, Organizational Culture, Employee Engagement, Succession Planning, Business Management Programs, Leadership Program.