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.
A case study into the recruitment and selection processes at Tesco and how they link to business success.
This is beneficial to the business so you don’t spend time and money training new employees, meaning that those who are recruited internally are able to get on without needed any form of training that would be as time consuming in addition to the process being cost effective. Another benefit of internal recruitment is that there are opportunities for promotion, this means that it will motivate the employees to work harder which allows the business to run even more effectively. In addition to that, you know that by promoting that someone, they will be perfectly suited for the role in
Recruitment refers to hiring a best qualified person for a job opening in a cost efficient and timely manner. This process comprises evaluating the job requirement, attracting the candidates, screening and short listing the qualified applicants, employing and incorporating them with new teams. Talent is the most important assert for any business. Talent Management, which includes recruitment, is a crucial part for any organization’s growth (Limor, 2013).
Workers will also work to the terms of a contract, they will usually carry out the work personally. Workers will include casual work, agency work, freelance work and seasonal work. Workers are entitled to some employment rights including, national minimum wage, holiday pay, protection against unlawful discrimination, the right not to be treated less favourably if they work part-time. See point 2 Appendix
To identify and assess at least 4 factors that affect an organisation’s approach to attracting talent
evaluate the advantages and disadvantages of using external recruitment sources compared to internal recruitment sources.
Recruitment agencies: provides employers with details of suitable candidates for a vacancy. They work for a fee and often specialise in particular employment areas.
Identify and assess at least 4 factors that affect an organisation’s approach to attracting talent.
For an organisation to attract talent successfully, as part of the talent planning policy it needs to identify and assess what factors affect its approach to attracting talent. For example:
Produce a report of approximately 750 words, in which you identify and assess 4 factors that affect an organisation’s approach to both attracting talent and recruitment and selection. Identify and explain 3 organisational benefits of attracting and retaining a diverse workforce. Describe 3 methods of recruitment and 3 methods of selection.
Internal sources come from internal company that conducts the recruitment. Recruitment using these sources is relatively quick and inexpensive. Company does not need any advertisement, head hunter or any other form of recruitment that is costly.
During the recent past however, when the company became a more dominant global competitor and a publicly traded conglomerate, the numbers of employees leaving the firm have increased, generating adjacent problems of employee recruitment, training and retention. In other words, the major challenges currently faced by the company are related to talent management. At a more specific level, the issues refer to the following:
As heavily regulated industries become more mature in a world where knowledge spreads quickly and technology advancements are imitated by competitors there is little to separate their cost bases. One area of competitive advantage is the attitudes and behaviours of the workforce. As such the topics of recruitment selection, talent management and retention strategies will be addressed. These three issues are intertwined and it will be argued that if accomplished successfully with the organisations strategic objectives in mind will deliver business success.
Employees today are also aware of their importance and the shortages of talent supply that is why focusing on sourcing talent or recruitment is at utmost importance of the organisation. More importantly, as an organisation sourcing for talent, it is a must to ensure positive experience reflected on the organisation’s values, are felt by the applicants all throughout the recruitment process to ensure that the applicants maintain its high perception to the company and as such, the applicants may then refer other talents to the organisation. Doing so, enables the organisation to set its brand which is now, one of the most important considerations of applicants in accepting the job offer.