Advantages And Disadvantages Of Talent Management

This paper is going to describe OCBC’s unique approach to talent management and development. Compare OCBC’s approach to talent management and development to other organizations you are familiar with (e.g., current or past employers, a family business). Explain how OCBC’s approach to talent management and employee development been a primary contributing factor to the firm’s success. Evaluate the extent to which OCBC’s approach to talent management and development fits other organizations or industries, including some limitations if applied elsewhere without modification.

Customer service studies show that when something goes right, customers give credit to the individual employee dealing with the problem; when something goes wrong, customers usually blame the organization itself. This fact makes it crucial for any

Three different parties are responsible for professional development within the organization: the employee, the employee's manager, and the organization itself. Various strategies exist to succeed in the development process. One strategy human resources may use is career pathing. For example, an

Recruitment agency: benefits of recruiting through an agency are, the agency work with the company’s requirements/specifications to filter candidates for interview process, the agency can be involved at interview stages. More time efficient and effective than a manager searching through a number of applicants and CVs.

Training and development are categorized into several classes. The sponsors of training and development are senior managers. The clients of training and development are business planners. Line managers are responsible for coaching, resources, and performance. The participants are those who actually undergo the processes. The facilitators are Human Resource Management staff. And the providers are specialists in the field. Each of these groups has its own agenda and motivations, which sometimes conflict with the agendas and motivations of the others. The conflicts that are the best part of career consequences are those that take place between employees and their bosses. Tempting as it is, nobody ever enhanced their career by making the boss look stupid. Training an employee to get along well with authority and with people who entertain diverse points of view is one of the best guarantees of long-term success. Talent, knowledge, and skill alone won 't compensate for a sour relationship with a superior, peer, or customer. Typical roles in the field

* Supply and demand; Organisation will have to look at supply of the talent. If the supply is low and demand high use of internal resources will be necessary by forward planning, supply of specialist training

Resourcing talent refers to the processes for identifying, assessing, acquiring, developing, and deploying employees who are critical to the company’s success .

A strategic management program is imperative for any successful business in today’s company environment. Organizations are willing to spend not only time, but also invest millions of dollars in the talent management programs because of the obvious benefits the programs create such as employment engagement, customer satisfaction, absenteeism, turnover, employee loyalty, and union avoidance. Talent management programs consists of many critical components that when organized properly foster a setting of continuous growth and success. These components of an effective program include: 1. Onboarding 2. Training and development 3. Performance management 4. Employee engagement 5. Succession planning 6. Mentorship 7.Work Life/Balance 8. Offboarding. Organizations must ensure that they have the human resources capabilities readily available to meet the current and future requirements of an ever changing demand. Therefore, having a strong talent management program is critical and incorporating each of these components will ensure that the talent management program is successful.

Talent acquisition, retention and development is becoming into the range as one of the most critical elements of Human Resource Management. For years, companies have struggled to capture market share through economization and downsizing, while growth had seemed to take a backseat. New technology and tools are now available to address attracting, developing and retaining talent.

In analyzing the second reason listed for why outsourcing is used; ‘inability to attract the highest caliber of employees to job functions that may be peripheral to the organization’s core discipline’, companies employ a different kind of outsourcing tactic. This reason leads to offshore outsourcing solutions. If a company cannot attract high caliber domestic employees to job functions secondary to their main function then they seek help where labor may be less expensive and more efficient.

After identify these level, organization can identify whether the employee are in expected level or performing at the potential level. Therefore talent management strategy and practice help to identify the gap between the performance levels. As a result of identify the gap, management can provide training and development to employees to achieve expect level. And it help for management to evaluate, analysis, develop and manage the current performance levels and, to mentor the employees to reach the carrier lander.

• Weed out poor managers. Dissatisfied workers dislike poor management. Act quickly to preserve your credibility in the workforce. Remember the law of procrastination. “No matter how long you ignore a problem employee, his or her behaviour will not improve-act now!”

Ensure that the individual and collective relationship between the organisation and its employees are managed appropriately

Management principles are needed for the efficient and effective operation of organizations, regardless of the level of the manager or the industry in which they operate. This is true for today’s organizations now more than ever. The global environment of today ensures that organizations will face staunch competition. Failure and weakness on the part of management ultimately lead to loss of market share and organizational closure. Also, gone are the days when managers could ‘bluff’ their way through their dealings with employees who have become more demanding and aware of their legal rights.

Talent acquisition is defined as the “strategic approach to identifying, attracting and onboarding top talent to efficiently and effectively meet dynamic business needs” (Erickson, 2012). Talent acquisition has the unique role of ensuring job applicants not only have the right credentials for the job, but also have the right mentality for the job. In other words, the person who ultimately will be offered the job needs to ‘fit’ within the firm’s structure and culture.