Resourcing talent essay sample

Resourcing Talent

Report – Findings
This report will look at Talent Planning in organisations. Talent Planning describes an organisation’s commitment to recruit, retain, and develop talented employees to meet current and future organisational needs. It focuses on recruitment, ensuring the right people are attracted to the organisation.

Factors that affect an organisation’s approach to attracting talent: There are a number of factors that affect an organisation’s approach to attracting talent, one of them being the image of the organisation. This has a great influence on attracting talent. An organisation with a good image may find it easier to attract and retain employees. The image of the company is based on what they do and how they are perceived. Actions like good public relations can help earn image. Also branded companies may find it easier to recruit, compared to a nameless brand. This is because they are more well known to the public and therefore they have more to offer candidates such as higher salaries, benefits, and bonuses. Another factor that influences attracting talent is the size of the organisation. Larger organisations may find it easier to attract talent as they may be in a better position financially for recruitment and advertising hence they are more likely to attract a wider range of applicants to choose from. The size of the company can also impress potential candidates.

The unemployment rate also has an important part to play in attracting talent. If the unemployment rate in an area is high, it is easier for an organisation to attract talent as the number of applicants will be higher which makes it easier to attract the best qualified applicants. Hence with a low rate of unemployment the recruiting process can prove to be more difficult. Another factor is supply and demand. This refers to the availability of manpower internally and externally to the organisation. Organisations need to consider the current supply versus demand. Some companies have a higher demand for more professionals and there may be a limited supply in their market. In cases such as these they may have to rely on internal sources by providing them with training and development. On the other hand if demand is high and supply is low in order to attract talent an organisation may be able to restructure the renumeration package to attract the type of candidate needed.

Organisation benefits of attracting and retaining a diverse workforce: In today’s society it is increasingly important to attract and retain a diverse workforce. This means organisations should ensure they recruit and retain the best person from the widest possible talent base regardless of gender, sexual orientation, age, race, religion, or disability, and there are many benefits to this. It improves the knowledge of how to operate business in different cultures and countries, as a multi-cultural company can penetrate and widen their markets, which can then put the organisation ahead of their competitors. Having a diverse workforce can bring new ideas, cultural, and educational experiences which will be of great benefit to the organisation. Also employees that can speak different languages can be seen to be valuable assets to the organisation. Another benefit of a diverse workforce is it can also generate profits for the organisation which results in positive business outcomes. Existing employees can also introduce their employers to market segments in other countries.

Therfore companies are better placed to understand international markets and represent different customer bases, which allows them to expand their business in different countries. It is also necessary when attracting talent and retaining a diverse workforce to have strategies in place that will ensure fair and equal treatment of all employees regardless of age, gender, religion, and disability. It will also help support better management of employees, as well as reduce the risk of discrimination claims which means organisations should be kept up to date regarding employment legislation. In doing this they will be able to attract and retain talent from diverse groups which can lead to a higher retention of staff and high staff morale which in turn will help with effective performance of the employees. It will also enhance the organisation’s reputation and image.

Factors that affect an organisation’s approach to recruitment and selection: The recruitment and selection process is one of the biggest factors that affects an organisation’s approach to recruitment and selction as they have budget and cost restraints. If a business is financially secure than they can spend more money on the best recruitment and selection methods, as opposed to one that does not have positive growth. Before an organisation starts the recruitment and selection process they also need to take into account the wage that can be paid and the cost of training too. Budget constraints also mean the company may not be able to offer attractive benefits to attract the best candidates which could put them behind their competitors. However organisations with tight budgets can use recruitment methods such as online recruitment websites as opposed to using agencies to headhunt candidates. Another factor that can be taken to account is that some organisations have recruitment policies which aim to provide clear guidance to managers in relation to the selection and appointment of staff. This provides them with a structured process for everyone to adhere to.

This ensures candidates are assessed fairly, valued and treated with respect at every stage in the process. These policies also ensure the organisation is consistent with employment legislation. HR planning is also a key factor affecting the approach to recruitment and selection. HR planning and the recruitment and selection process are highly related to each other. The objective of recruitment is decided in HR planning. It allows HR managers to do an analysis of the organisational needs. An example of this could be the organisational strategy may determine the need for graduates in a graduate scheme to change the organisational structure for which they will ask the HR function to conduct a recruitment and selection process for hiring graduates only.

Benefits of different recruitment and selection methods:
There are a number of methods an organisation can use to recruit staff. Recruitment agencies are an effective tool as they save valuable management time and they can also decrease the administratve load for the organisation, and it removes a lot of stress and hassle. Another benefit is that there are agencies that may specialise in your field. Internal recruitment is another method used. It is cheaper and may be quicker to recruit. Another advantage is existing employees are already familiar with the business and how it operates. It also provides opportunities for promotion within the organisation which can be motivating for staff, and they are aware of the strengths and weaknesses of internal candidates. The internet is now a popular recruitment method that comes with many benefits. Online recruitment allows the organisation to reach a large number of candidates. It is also quick; jobs posted online go live in literally minutes and candidates can and do respond immediately. Technology in online recruitment is also cost-effective. Many organisations are now using social networking sites such as Facebook, LinkedIn, and Twitter. It also saves time and money on design and printing costs.

Induction:
Induction is the process of introducing a new employee into the organisation. The responsibility for an induction should be shared between HR, line management, and learning and devlopment functions. There are many benefits for the new recruit as well as the organisation. A good induction reinforces positive first impressions and makes new employees feel welcome and ready to contribute fully. It is an ideal way to gently ease in new employees and should induce a feeling of ‘ belonging’, and should also familiarise them with the culture, practices, policies, and procedures of the organisation. First impressions are also very important and therefore how you act with new employees when they first join the organisation plays an important role in how they carry out their duties later. In addition to this there are ‘ public relations’ benefits from carrying out effective induction as an employee impressed by their choice of employer may advertise the fact and make it easier to attract new employees. Good induction also prepares the employee to compete better in a competitive marketplace which has a direct impact on their early success and therefore also motivates the employee. It is also important to put induction plans in place as it ensures the organisation complies with various legal obligations that cover new employees.