Resourcing and Talent Planning

Recruitment is the process of attracting, screening and hiring people or a person for a job. The attracting process of recruitment is where the business advertises the available job vacancies for a period of time. Once the deadline of the advertisement has arrived, the business collects up all the CV’s from the applicants and they are all checked off against the person specification. This is where the applications are selected by the business, the selected applications are then invite by the business for an interview and from there they are able to decide whether they are suited for the job.

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.

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).

The purpose of an induction is essentially to introduce a new employee to the organisation, and to help them become effective in their new role as quickly as possible. Inductions often include new starters gaining an understanding of what is expected of them in their role, their responsibilities, and the organisation’s culture, this benefits the employee as they have a greater understanding of their job and have an opportunity to ask any questions. The organisation is benefited also as it allows them to make sure there is no misunderstanding at the very beginning of the employees contract.

* 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 .

Successful organisations realise that identifying and developing a strategy in these three separate areas is

Induction training is training given to new employees. The purpose of the induction training (which may be a few hours or a few days) is to help a new employee settle down quickly into the job by becoming familiar with the people, the surroundings, the job and the business. It is important to give a new employee a good impression on the first day of work. However, the induction programme should not end there. It is also important to have a systematic induction programme, spread out over several days, to cover all the aspects in the shortest effective time. The advantages of induction training are that they are cost-effective and to have the opportunity to learn whilst doing training alongside real colleagues. The disadvantages of induction

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:

Resource and Talent Planning ensures that the organisation is able to identify and attract the key people with the capability to create competitive advantage to fulfil the ambitions of the business.

Selection is the process by which managers and others use specific instruments to choose from a pool of applicants a person or persons’ most likely to succeed in the job or jobs given management goals and legal requirements.(ukcbc.ac.uk).

If internal recruitment is not an option / has been unsuccessful, companies will the need to advertise to a wider audience. An employer will need to decide which method of recruitment is most suitable for the role and organisation. Common recruitment methods include advertising on the company’s own corporate website, using internet based jobsites, recruitment agencies, local or national press, job centre plus or employee referral schemes. The CIPD resourcing and talent planning survey (2013) lists the top 5 methods of recruitment as,

Job design focus about the job requirements of employees. Therefore they need to have skill, knowledge and ability to perform the job. And talent management strategy and practice help for the selection process to emphasis on performance result evaluation

The process of induction in our organizations is poor and unsatisfactory which needs to change and for that we will amend the induction policy. It’s a huge project and it will require continuous input from different individuals for the best results.

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).