Talent Management

Talent management means the process of anticipating need for human capital and the ways and means which the need is fulfilled. Process is kickstarted by identifying employees with high potential within the organization. The identified individuals are then developed further to be able to deliver future expectations of the organization (Momtazian, 2023).

Importance of talent management to an organization

In order to attract and retain experienced, well qualified quality employees the organization should have a strong talent management strategy to avoid losing its best employees.

If an organization has a sound talent management strategy which encourages the employees to reach their full potential and reach higher positions within the organization it will ultimately reduce employee turnover and helps reduce cost of rehire and training (Brooks, 2019).

Talent management model

Source: (Momtazian, 2023).

Responsibility of talent management

The responsibility of talent management stems from HR. However all of corporate management, senior management should be actively involved in talent management process to achieve the desired outcomes of the organization. Also, there can be different committees appointed to overlook the talent management process depending on the scale of the organization (Brooks, 2019).

Conclusion

Talent management will benefit both the employer and the employee. Employees can achieve their career goal advancements while developing their skills and in return the organization would achieve set business goals. Organizations should focus on adopting innovative approaches for an effective talent management process.

References

Brooks, A., 2019. Rasmussen University. [Online] Available at: https://www.rasmussen.edu/degrees/business/blog/what-is-talent-management/

[Accessed 17 April 2023].

Momtazian, M., 2023. Expert 360. [Online] Available at: https://expert360.com/resources/articles/talent-management-important [Accessed 17 April 2023].

 

Strategies Related to Employee Retention

In the current business context of the world organizations are going through significant changes with the relationship with their employees. Employee retention has become a challenge for organizations due to the rapid increase of the job market opportunities across majority of the industries. Skilled and qualified professionals have a wide selection of employment opportunities with added benefits at their disposal. Organizations across majority of industries are focusing on retention of skilled employees who are an asset to the organization.

An organizations concern over retention of employees rather than replacement makes sense considering high costs involved in employee turnover. There can be drops in productivity observed in the event of employee turnover until such time the new employee has been given proper training and has adjusted to the new job role.

Source: (www.cfoselections.com)

How to overcome the employee retention battle?

To achieve  long term sustainable retention, employee retention strategies adhere to the following practices;

• Hiring the right candidates best suitable for the job.

• Compensating the employees adequately.

• Promoting work life balance in the organization.

• Encouraging employees to take part in new initiatives.

• Ensure that the employees know that they are valued and is an asset to the organization.

• Provide a pleasing and convenient workspace.

• Providing employees information and insights.

• Ensuring their hard work is recognized, appreciated and awarded.

• Considering employee's family when structuring benefit packages.

• Creating a work culture where the employees would love to work and truly enjoy what they do.

It takes great involvement and commitment from corporate management  to formulate the above strategies which would definitely pay off in the long run (Lewis et al,2012).

References

Lewis, Andrea and Sequeira,2012. A. H., Effectiveness of Employee Retention Strategies in Industry. Available at SSRN: https://ssrn.com/abstract=2167719 or http://dx.doi.org/10.2139/ssrn.2167719 [Accessed 17 April 2023]

Importance of Job Rotation

Job rotation is the process of moving employees among the different process units of an organization in order for the employees to gain knowledge, understanding and experience of the overall operations of the organization. By this the employer is able to examine the abilities of the employees while reducing monotonous nature of job roles.

Objectives and benefits of a job rotation

Source: (Juneja, 2023).

Job rotation is a tool of identifying potential successors in order to effectively train and groom them. HR has the ability to direct employees where they are required according to their knowledge and skillset. By this was the employees are placed where their skills & knowledge are utilized, use of competency and caliber is maximized (Juneja, 2023).

Implementation of a Successful Job Rotation

• To implement a successful job rotation, there should be benefits to both employer and employee. Willingness of both parties is crucial for a successful job rotation.

• Ensure right departments in the organization are picked for job rotation where it is actually required so that any hinderance to business operations of the organization is avoided.

• The purpose & the objective of the job rotation needs to be well defined.

• The employees need to be briefed on the importance of the job rotation and the reason for it. The employees must also be provided with proper training required before the job rotation takes place.

• A mentor should be assigned to an individual employee or group of employees who underwent a job rotation to monitor the performance and to provide guidance at every step of the way.

(Juneja, 2023).

References

Juneja, P., 2023. Management Study Guide. [Online] Available at: https://www.managementstudyguide.com/job-rotation.html [Accessed 17 April 2023].

Leadership

Each organization has its own goals and objectives such as growth, profit maximization, increase of market share, innovation, cost reduction. For an organization to achieve the said targets the leaders of the organization should have the ability to promote creativity, innovation and encourage subordinates to challenge themselves and their own limitations to improve their individual performance (Karamat, 2013)

Leadership is defined as "the accomplishment of a goal through direction of human assistants" according to W.C.H. Prentice. An effective leader should motivate the employees to achieve common organizational goals while giving room for the employees to learn and grow. By giving the employees the opportunity to come up with innovative ideas for growth the leader demonstrates democratic leadership qualities. By being a democratic leader the employees will feel that they are valued and appreciated which will ultimately motivate them to perform better (Prentice, 2004).

Source: (www.entrepreneurhandbook.co.uk)

Most leaders in organizations focus solely on monetary rewards as sources of satisfaction or fear of unemployment. However this can be used as a leadership tool only unto a certain extent and it is not the best approach as human needs are complex. Leaders should handle the workforce with understanding, care, recognition etc. Failing which leaders would not be able to utilize their employees to their full potential (Prentice, 2004).

A leader should be willing to be flexible on his approach depending on the situation as democratic leadership will not be the best approach for all instances. Some situations will require the leader to demonstrate autocratic leadership qualities (Prentice, 2004).

Conclusion

A leader should have a diversified skillset demonstrating different leadership qualities which enables the leader to handle situations using the most appropriate leadership style on a cases by case basis.

References

Prentice, W., 2004. Harvard Business Review Home. [Online] Available at: https://hbr.org/2004/01/understanding-leadership [Accessed 16 April 2023].

Karamat, A. U., 2013. Impact of Leadership on Organizational Performance. Business Economics and Tourism , 5(3), pp. 195-197.

Succession planning in HRM

Succession planning is an integral part of any organization in the long run. By definition succession planning means identifying, grooming, mentoring & training potential employees for higher senior management positions in the organization. This ensures the smooth operations of the business even after key management persons have moved out of the organization dude to resignation or retirement (Kenton,2022).

Importance of succession plan

As the future of the organization is greatly dependent on the successors taking over key management roles an effective succession plan is of great importance to any organization. A core part of going concern concept includes the fact that the organization continues for the foreseeable future. An organization requires both financial capital and human capital to sustain business operations in the long run. Investors are often interested about the succession plan of the organization as the future of their investment depends on the current and future leaders of the organization. Having a sound succession plan is of great importance to both the organization as well as its employees. When the employees are made aware that they are on a path to a better career growth prospects within the organization the efficiency of the employee would increase due to the motivation factor and the employee's loyalty to the organization would also definitely increase which can be identified as a win win situation (Hirsh, 2000).

The Role of HR in succession planning

By tradition senior management does not focus on succession planning as one of their major tasks. The senior management does not commit their time to focus on succession planning voluntarily. They are more focused on achieving targets, business growth, profit maximization and increasing market share. Therefore it is crucial for HR to act as a facilitator to the management in identifying and planning future successors of the organization. Even though potential successors are identified they may not possess the required skills or qualifications. Succession planning often includes training, educating and mentoring of potential candidates which is a major role played by HR in succession planning (Day, 2007).

Source: (www.aihr.com)

Employees awareness about the organization's expectations as a successor is important. Employees work better, are happier and are more efficient and enthusiastic if they see a clear career advancement path which would be a motivation factor for them to word harder to achieve their personal career advancement goals.

References 

Kenton W., 2022. Understanding Succession Planning [Online] Investopedia Available at <https://www.investopedia.com/terms/s/succession-planning.asp> [Accessed 16 April 2023]

Hirsh, W., 2000. Succession planning Demystified. [Online] Employment-studies.co.uk Available at: <https://www.employment-studies.co.uk/system/files/resources/files/372.pdf> [Accessed 16 April 2023]

Day, D., 2007. Developing Leadership Talent. [Online] Shrm.org Available at: <https://www.shrm.org/hr-today/trends-and-forecasting/special-reports-and-expert views/Documents/Developing-Leadership-Talent.pdf> [Accessed 16 April 2023]

Importance of HR Business Partner

HR business partner who is a human resource professional who engages closely with senior management in achieving objectives of the organization. With the involvement of a HR business partner , HR department and senior management of the organization are enabled to develop an HR agenda that supports organizational goals (Anon., 2023).

HR business partner focuses on providing HR support for day-to-day business operations of the organization which keeps the role tied with the business. In order to be more in touch with employees needs, the transformation of typical HR officer role to a HR business partner role results in a more consultative approach focused on advising managers on programs such as career development, succession planning & being the HR liaison for the business and employees when situations arise (ScottMadden, 2012).

(Source: www.edureka.com)

The HR business partner should demonstrate the following competencies;

• Knowledge of the Business – HR partner should posses thorough knowledge of the business structure and objectives

• Analytical – Should be capable of analyzing data to make conclusion

• Problem Solving ability in real world instances

• Communicational ability – HR partner should be able to communicate effectively in a summarized and fluent manner.

• Systematic thinking – Should be able to understand changes and impacts as a wholistic picture.

• Adaptability – Should be willing to be flexible with the approach where its required

• Ambiguity- Ability to move forward with limited information

• Organization – Ability to handle multiple tasks and responsibilities at the same time

• Teamwork – Should be a Team player

• Insight – Ability to forecast

HR Business partner is an ideal coordinator who is able to unite the whole organization hierarchy to achieve common goals while resolving employee concerns and problems. Therefore it is essential for businesses to focus on appointment of qualified trained and groomed HR business partners for an effective management of employee problems (ScottMadden, 2012).

References 

Anon., 2023. An HR Glossary for HR Terms. [Online] Available at: https://www.bamboohr.com/hr-glossary/hr-business-partner/ [Accessed 15 April 2023].

ScottMadden, 2012. www.scottmadden.com. [Online]
Available at: https://www.scottmadden.com/content/uploads/userFiles/misc/8d0d88c7547b6e2b8f6f6fcba6a9d6b3.pdf
[Accessed 15 April 2023].

Role of HR in Employee Well-Being and Workplace Safety

Importance of employee well-being and work place safety

Employees are an integral asset to any firm. Therefore employee well-being and safety is of utmost importance for the performance of the firm. Failure to provide a safe work environment will cause great reputational losses to the organization. Employees typically spend about 8-10 hours per day at their work place which is one third of their entire day. Therefore it is crucial to provide a safe pleasing working environment to all employees (Parker, 2021).

Source: (www.elearningindustry.com)

The role of the HR in employee well-being and safety

HR plays a vital role in forming, implementing and maintaining safety policies. When we discuss role of HR when employee well-being is concerned, HR should consider both physical and mental well-being of their employees.

Below are key responsibilities of HR in ensuring well-being and safety of the employees;

• Ensure both employer and employees are educated and reminded that a safe work environment is a responsibility of both the parties.

• HR should act as a coordinator between employees and consultancy of outsourced experts on a regular basis to ensure technicalities of health and safety compliance.

• HR should act as a coordinator between the organization, authorities and employees as HR is responsible in ensuring safety issues of employees are addressed on a timely manner (Leonard, 2022).

Tasks of HR that needs to be carried out to ensure employee well-being and safety

• Organize frequent workshops such as entertainment programs to improve mental health of employees.

• In the event that the employees are engaged in activities with hazardous materials ensure all such employees are WHMIS (Workplace Hazardous Materials Information System) certified.

• Ensure proper medical insurance scheme is in place covering all employees to cover potential medical expenses (Parker, 2021). 

You cannot get the best output from employees by merely paying them a remuneration. Organizations should ensure that the employees are taken care of in every possible way which will improve employee satisfaction ultimately improving the productivity of employees. HR plays a vital role in occupational safety requirements.

References

Leonard, J., 2022. BUSINESS 2 COMMUNITY. [Online]
Available at: https://www.business2community.com/human-resources/role-hr-maintain-safe-environment-workplace-0958858
[Accessed 15 April 2023].

Parker, S., 2021. HR Technologist. [Online]
Available at: https://www.hrtechnologist.com/articles/workplace-wellness/the-role-of-hr-in-your-office-safety-and-wellbeing/
[Accessed 15 April 2023].

Ø

Importance of Employee Recognition

The organization is a machine that needs constant maintenance. Employees are the ones who keeps the organization running. Happy and satisfied employees are likely to be successful in their careers and is more efficient at what they do. A simple thank you to appreciate the employees goes a long way. However a mere "thank you" is not enough as your employees are deserving of much more. They deserve recognition. Efforts to show that you value your employees can improve engagement, morale, productivity and retention of employees.

Organizing an office event or a company happy hour requires extended time and effort. In addition, an annual gathering allows the employees to spend time together away from work and cultivate relationships. It is better to adopt different ways of expressing gratitude. As a team leader you can adopt awards, kudos and recognition plans to recognize your team member.

Source: (www.aihr.com)

Advantages of employee recognition

As need to be appreciated is a basic human need, employees will feel more connected to their team and organization when they are recognized and valued for their contributions to the organizational goals (Wickham, N., 2022).

Below listed are benefits of employee recognition;

• Decrease in employee turnover
• Increase in productivity
• Better employee satisfaction
• Enhanced team culture
• Increased employee satisfaction
• Retention of valuable employees

Many managers does not know how to show appreciation of employees. Below are some simple yet effective methods of showing employees that you care and they are valued;

• Recognize winners
• Approve hard earned vacation days
• You can never go wrong with food
• Cash rewards
• Boost their LinkedIn profile
• Celebrate birthdays and special achievements
• Go beyond "thank you"
• Get away together
• Send them to the mall
• Encourage appreciating each other

(Cloud, 2021).

Appreciation takes little time. Any person irrespective of their designation can express appreciation. A culture of appreciation spreads fast with the involvement and effort of a leader. 

You will observe the positive effect when you are expressing gratitude more to those around you. The little things can add up to a big thing.

References

Cloud, H., 2021. 15 Creative Ways To Show Employee Appreciation | HR Cloud. [online] Hrcloud.com. Available at: <https://www.hrcloud.com/blog/15-creative-ways-to-show-employee-appreciation> [Accessed 15 April 2023].

Wickham, N., 2022. The Importance of Employee Recognition: Statistics and Research. [online] Quantumworkplace.com. Available at: <https://www.quantumworkplace.com/future-of-work/importance-of-employee-recognition> [Accessed 15 April 2023].