Executive Summary
This assignment is based on the talent management approaches used by organizations. Different factors which become the reason for organizations to use different approaches have also been mentioned. A further division for intrinsic and extrinsic talent management approaches have been given. The factors which affect the approach in different countries are also mentioned. Moreover, an organization like Proctor and Gamble (P&G) has its own processes and methods which are used to hire new employees. The main strategies and talent selection methods based on their intrinsic approach have also been discussed in this assignment. A few other examples for P&G talent management are also discussed in order to highlight and make a
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Skills, and attributes of all the management should be parallel to the responsibilities and roles assigned to them for talent management.
Companies try to align their products and services according to market conditions and segmentation. The two approaches which are used by most of the companies are either market oriented or product oriented. It can be added here that market approach is more focused for how the products should be introduced to the market. It’s about how the products and services are being portrayed and advertised in order to attract the consumers. Product-orientation, on the other hand, is focused on methods through which products are bettered for the consumers. The system and research which can be utilized to help improve the product are used in the process. Both the approaches are significant in their own unique way. It’s important to understand the significance of market segmentation and hence, extensive research is required. Since the market has gotten competitive, range and preference is also observed. For product-orientation, technological and safety factors are some important elements used (Osarenkhoe, 2008). This is done to help consumers enjoy the products in a way that’s not offered before. That, by introducing new features or technology in the products.
Different approaches to talent management
Not all the organizations tend to use same approach when it comes to ensuring
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).
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.
This report has been written on Talent Planning, within this report the following will be indentified and assessed: At least four ways that affect the organisations approach to attracting talent, three organisation benefits of attracting and retaining a diverse workforce, three factors that affect an organisations approach to recruitment and selection methods, three purposes on induction and how they benefit individuals and organisations and I will include our organisations induction plans that will identify areas covered in the plans, including timelines and those involved in the process.
To identify and assess at least 4 factors that affect an organisation’s approach to attracting talent
While it is certainly important to acquire new talent for the organization, it is worthwhile investigating what talent is already available within the organization and if these can be used
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:
Companies are continually coming out with new products; most new products are improvements of past products. However, the way a company markets a product and to whom they market the product can make a drastic difference in regards to the sales performance. Two products can be nearly identical and marketed very differently, while two products can be polar opposites and marketed almost identically. Two products that are similar but marketed differently are the iPad and the Amazon Fire tablet, and two that are different, but marketed similarly are Nike tennis shoes and Oakley sunglasses. It is important to understand how a company markets a product, but it is just as important to know why a company is marketing a product a certain way. The
There are obviously many different factors that affect an organistions approach to talent planning. External factors such as the economic environment can have a massive effect in how an organisation resources and retains talent. For example, in times of high unemployment it is far easier to attract high levels of talent, as there are many unemployed suitable candidates in the job market. Similarly it is easier to retain staff as they are less likely to leave due tot the difficulty of finding new suitable employment. Political factors such as changes to minimum wage may also have an effect on talent planning, it may be that an increase in minimum wage will
1. There are many different factors that affect an organisation’s approach to attract talent. The list below includes some of them.
Identify and assess at least 4 factors that affect an organisation’s approach to attracting talent.
Businesses can develop new products based on either a marketing orientated approach or a product orientated approach. According to Jaworski and Kohli (1993), marketing orientation is ‘the organization-wide generation of market intelligence pertaining to current and
Numerous researches show that there is actually a deep relation between product and market orientation. In order for a product to become successful in reality it has to be according to the needs of customer and to find out what the customers want business has to obtain the knowledge of customers needs which can only be achieved by the market research. Therefore there is an inter link between product orientation and market orientation.
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.
Human Resource Management involves a wide array of functions that encompasses the time from when an employee enters an organization to the time the employee leaves the organization. The specific activities that are involved in HRM include job design and analysis, recruitment, orientation and placement, development and training of the personnel, employee remuneration, and performance appraisal (Aswathappa, 2007: 5). This paper shall focus on three main activities which are recruitment, training, and personnel development. When it comes to recruitment, it is incumbent upon the Human Resource Manager to bring into the workforce, employees that are both wiling and competent to accomplish specific tasks. The work of recruitment goes hand in
Having a functioning and efficient talent acquisition team is of vital importance to a firm. In a time where firms have to make quick decisions in order to remain relevant and profitable, availability of the right labor does not always keep up with the need. Not having a functioning talent acquisition strategy can be detrimental. It is essential that talent acquisition be accurate and timely as it “is the only function within HR that can destroy the business and HR” (Truitt, 2013). In order for the talent onboarding to be timely and successful, the search, vetting and hiring of talent will require appropriate acquisition actions. “The selection of tools, technology and outsourcing partners is a key element of a company’s talent acquisition strategy” (Erickson, 2012).