Workforce Behavior and Talent as a Competitive Advantage in Business

2048 WordsJul 12, 20189 Pages
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. Fernández-Aráoz et al (2009, p. 4) have detailed seven steps to successful recruitment of senior management. Their first is to anticipate the need to replace staff. They recommend…show more content…
Sixth step is a successful induction to prevent unnecessary loss of new employees therefore it is vital they are provided the support to build the right stakeholder relationships and their knowledge of the business. Without this support and left to one’s own devices the time frame to be become fully productive will be longer. The final stage is to audit the success of the recruitment after a suitable period and if there is evidence that the employee is not delivering as expected then have the courage to swiftly performance management them out of the business. This is necessary to ensure performance standards are upheld and can be used to identify flaws that may have corrupted the recruitment process which can be addressed for future benefit. In closing it is strategically sound to regularly review a company’s leadership needs and to have in place a program that identifies internal talent, develops it and balances this against external recruitment and when going to the market ensure those involved have ownership of the process and are skilled in interviewing techniques. Despite the trend towards organisation fit it is still clear that this still needs to be underpinned by a job fit match to align not just values and attitudes but also job competence. I conclude that a failure in similarity in either area threatens the long term employment likelihood of the applicant. Once employed, a

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