...retain qualified staff is somewhat a challenge due to the increasing difficulty in recruiting employees with the appropriate competence-organisational fit, and competition for key personnel by other national and international agencies. One approach to overcome this challenge is for banks to possess effective resourcing, recruitment, selection and human capital management framework which is quick and cost effective (Kleiman, 2005). Implementing the right framework would allow banks to review, select, build and retain the best competence in candidates thereby affording them with a workforce that can give them competitive advantages. As such HR departments have become important organisational components due to their function of recruiting, developing, and retaining quality staff (Fischer et al., 2004). 1.1 Scope This report highlights the five step talent strategy of First Bank Nigeria (FBN) PLC, the effectiveness of the sourcing and talent management strategies, and recommendations that will potentially increase the outcome of the process. 2.0 Talent Management Wellins et al., 2009 define talent management as a critical process that ensures organisations have the quantity and quality of people in place to meet their current and future business priorities. Therefore talent management strategies focus on five primary areas: attracting, selecting, engaging, developing and retaining employees (Lockwood, 2006). 2.1 FBN Talent Management Strategy A talent-powered bank is one that...
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...An Effective Training Evaluation Plan You have just learned that your company is looking for ways to cut back expenses. One of the cost cutting measures being considered is to terminate the training department, as the company considers this an expense and they do not believe training is contributing to the profitability of the company. As the head of the training department, it is your job to defend the value of the department. You realize that well trained employees perform their jobs more efficiently and consequently can contribute to higher productivity and profits for the company. One way to show the value of training is to have tools that will allow a manager to track the performance of an employee both before and after they have received training. o Increasing the level of transfer of knowledge (knowledge retention) o Monitoring the effectiveness of the skill performance in the job performance improvement o Include common attributes in your evaluation tool, which could be applicable to most employees at the organization such as employees showing concern for saving the company money or consistently turning in error free work. Your training tool should contain a minimum of 10 evaluation criteria. The report should be 5-7 pages in length and include: • Executive Summary highlighting all the factors in the scenario. • Justification of the importance of retaining the training department in the company and explanation of how the...
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...month) |Measures absenteeism. Determine if your company has an | | |÷ |absenteeism problem. Analyze why and how to address issue. | | |(Ave. # of employees during mo.) x (# of |Analyze further for effectiveness of attendance policy and | | |workdays)] |effectiveness of management in applying policy. | | |x 100 | | |Cost per Hire |(Advertising + Agency Fees + Employee |Costs involved with a new hire. Use EMA/Cost per Hire Staffing | | |Referrals + Travel cost of applicants and |Metrics Survey as a benchmark for your organization which is | | |staff + Relocation costs + Recruiter pay |available on the SHRM.org Web site. Cost per Hire can be used as| | |and benefits) |a measurement to show any substantial improvements to savings in | | |÷ |recruitment/retention costs. Determine what your recruiting | | |Number of Hires |function can do to increase savings/reduce costs, etc. | |Health Care Costs per|Total cost of health care |Per capita...
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...Evaluation of Training Training evaluations are essential to helping the Landslide Limousines operates to its full potential. The owner should be focused on developing a viable training plan that is geared toward employee retention and profitability. Therefore, it will become necessary to have a first-rate evaluation procedure established to ensure things are running properly. The evaluation procedure should take into account the training plan that has been developed for Landslide Limousines. Criteria The criteria will establish the standard and process by which evaluations will be assessed. This stage will help gauge the effectiveness of training that the employees will have to undertake. The results can be used to make changes. Because the employees are the essential part of the business an evaluation will be necessary to determine who is ready to work and help those that will need additional training. The employees need to know what is expected of them before they interact with customers. The training plan can be developed via online training, printed materials, hands-on, or classroom instruction. Regardless, of the method the business uses to train the employees Human Resources should maintain documented proof of attendance and make notation if further training is required. The will ensure that both sides are in compliance with legal and company requirements. Pretest Employees A pretest of employees is use to determine what information they are already aware...
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...are Revolutionizing|Benefits Worth |Is there a way to measure talent |What is the most used and most |How does HR make a decision on which | |the Compensation/Total Rewards |Talent Retention/Attraction |retention versus rewards program |attractive voluntary benefit to the |Voluntary Benefits are most helpful to| |Equation | |incorporating voluntary benefits? |employees? |the employees | |(Rotella, J., 2013, SHRM Conference) | | | | | |Risk Management Seminar |Insurance |Does providing this training provide |Is there a correlation between an |What elements make up an effective | |“This seminar includes sessions on |Retention |information that helps with the |understanding of the insurance and |insurance claim? | |managing the Owner Controlled |Employee Injury |understanding and retention of the |less employee injury cases?...
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...challenge they have in managing the workforce is their organisation's inability to recruit and retain good employees and managers. The South African labour market is characterised by an oversupply of unskilled workers and a shortage of skilled ones. High population growth constantly exceeds the growth in employment demands. This is compounded by the consistent loss of jobs in the formal sector, as the country’s economy moves away from labour-intensive to capital-intensive operations. The following factors contribute heavily on obtaining skilled management in South Africa, ♦ Historical reasons – South Africa’s apartheid-based economy contributed to shortages of skills as a whole host of developmental activities were restricted and access to highly specialised skills were reserved for a few; ♦ Education and Training & the Labour Market - Poor articulation between the skills acquisition in institutions of higher learning and the HRD needs of the public service ♦ Globalisation – South Africa is negatively affected by skills flight as a result of attractive salary packages offered outside the country and perceived high levels of crime. ♦ Increased mobility – Employees with scarce skills are in great demand and are often “poached” by other employers who can offer better packages and better working conditions. As a result this category of employees is much more mobile and it is harder for government to keep them....
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...encourage them to work together as a team. This paper analyses some of the problems facing the Division of Environmental Assessments, as well as some solutions aimed at improving employee experience. Problems There are underlying problems in the case. The problems must be solved if the division is to play a more complete role in assessment of environmental plans of oil and gas developments. One of the clearest problems is poor employee retention. In the history of the division, it is obvious that employee turnover has not been a serious issue. However, there is now an increase in the turnover rate, and the ability of filling vacant positions is becoming increasingly difficult. From the case, it is evident that within the first month of Jane’s leadership as the Manager of Environmental Assessments, the division has lost one top engineer and one junior engineer. The main reason why employees are leaving the division is that they are receiving more attractive salary packages from other companies, especially in the private sector. Poor employee retention clearly has a direct relationship with the inability of the division to attract new workers. Based on the situation on the ground, this is not only because of a lack of engineers with the appropriate background, but also because of lack of engineers that are willing to commit themselves to...
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...(HRM) is crucial to the organisation's performance. HRMs manage the most valuable assets of the organisations - the individual employees. The performance of the organisation and its divisions are dependent on the collective functions of individual employees (Widener). Those employees represent the human capital which can grow within an organisation to increase productivity within organisation in order to make it more competitive against rivals in the local and global markets (Abu-Nahleh et al. 2010). A personal development plan integrated with an appraisal system will be a key took in making sure that each individual employee's potential is fully made used of towards the progress of the organisational goal (Taticchi et al. 2010). Job satisfaction, motivation and the general morale of the employees are not taken into account in a rewards or forced distribution performance management system. These factors may directly or indirectly impact on the organisational performance. For example, a high employee turnover rate, resulting from low morale to personal reasons, is costly to an organisation. Employees who resign will take away valuable knowledge, expertise and client networks with them. Furthermore, the organisation will have to spend on recruitment advertisements, temporarily replacements, and overtime for other staff, interviewing and re-training new employees for the vacated role (Mitchell et al. 2001). This paper will provide an analysis of the influence of PDPs on individual employee...
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...‘Global shifts in the supply and demand for labor mean that organizations need to focus more heavily on attraction, retention and career development of staff in order to meet these challenges’- Discuss The present essay focuses on the strategic human resource management and global shifts in demand and supply of labor which almost all the companies are facing to have skilled personnel. This essay critically evaluates some of the issues related to SHRM, global shifts in the supply and demand for labor which is then linked to the attraction, retention and career development for employees which an Organization provides these days for having better workforce with in the company. To support the arguments in the essay, the evidence are taken from the published scholarly articles. In the beginning of the essay we understand the role of SHRM, issues related to shifts in global labor market and its impact on organizations where recruitment, retention and career development of staff have become major challenge to the companies. We can also understand how employer formulates the strategy or strategies to retain the skilled employees with in the company. The role of HR executives in the SHRM and Organizational Performance are raising needs for the business and in the next future the HR will play a vital task in achieving the competitive advantage of the company. One international review shows that HR needs to be strategically planned to achieve competitive advantage by being more amenable...
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... Abstract Talent management has changed so much over the years, due to the economic environment. This paper will attempt to explore some of those changes and challenges for talent management. The emerging set of new practices is moving talent management to its tipping point. THE TIPPING POINT FOR TALENT MANAGEMENT 3 Discuss how the economic environment has influenced the need for talent management practices. Today, talent management plays a critical role in contributing to the overall productivity and strength of an every organization. Human Resources managers are trained individuals who motivate employees to meet organizational objectives while maximizing employee satisfaction. Over the last few decades, HRM has become extremely important to the world of managing groups of people. Maslow, Herzberg and others have contributed to the success of human resources, by helping managers to develop an understanding of human relations. The economic environment has influenced the need for talent management practices because many businesses are experiencing organizational change. Throughout the tough economic environment businesses have examined old talent management models that once were successful and applied...
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...Training and Retention Mary F. Chapman University of Maryland University College AMBA 600 Executive Summary I work in the new homebuilding industry - an industry that has a fair bit of turnover amongst its’ sales teams. While sales representatives typically remain in home sales for their professional careers, they often switch between builders, and even out of the industry to general brokerage at some point in their career. As a 10+ year seasoned sales representative, I have seen far too many quality representatives leave my company to start over with another builder, or other industries altogether. It truly is a shame, as many of these representatives would have generated an incredible amount of income for themselves, as well as profit for the builder, had they given themselves the proper opportunity. I am proposing that proper training and sales management involvement could single-handedly improve retention amongst the sales team. In this paper I intend to explore the costs associated with employee turnover, the role of middle management during the selection process and thereafter throughout training, as well as training procedures and policies that could be implemented to help lessen turnover. Lastly, I intend to explore how my company will improve as a result of higher retention of its’ sales professionals. Retention of sales professionals has become one of the most taxing issues facing sales managers of today, particularly due to the costs associated with...
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...Landslide Limousine - Training Plan When putting together a training plan, many factors need to be addressed. The needs of Landslide Limousine need to be analyzed. The environmental, organizational, demographical, operational, and individual needs need to be analyzed so that all of these are incorporated into the training plan. The methods of training need to be addressed. What media will be used in the training, the learning principles, how employees will learn skills or facts and the effectiveness of the various methods. Along with the above, training must be evaluated for effectiveness. What criteria will be used to assess training? Pretests are a method of testing training. Landslide Limousine will need to monitor and observe training, collect feedback from trainees, and then implement the feedback given. Following is a training plan for Landslide Limousine: Needs Assessment Landslide Limousine will first need to complete a needs assessment for their training. The first assessment will be environmental. Landslide Limousine will need to determine what impact unions will have on their business, and their training. Landslide will also need to determine what the effect of the economy will have to their business and training. Finally, with the environmental assessment, Landslide will need to be familiar with all laws, local, state, and federal that will need to be included in their training, as well as that will impact who, what, when, where training occurs. The next...
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...The Importance of Employee Retention The sustainability and success of any organization depends upon the retention of key employees and according to Panoch, (2001) valuable employees are increasingly becoming more difficult to find. In today's highly competitive environment employee retention should be top priority for organizations especially since many consider human talent to be the ‘greatest assets' to a company. Cutler (2001) stated that one of the most important demands on management today in any organization is keeping the most vital and dynamic human resources motivated and dedicated. Managing and retaining valuable talent requires a balance between the employee aspirations and the strategic and financial needs of the business. Implementing strategies that encourage employees to remain in an organization can be termed as employee retention. Zineldin, (2000) has defined retention as “an obligation to continue to do business or exchange with a particular company on an ongoing basis”. * Hiring is not an easy process. According to the University of California, Riverside, in order to strategically increase efficiency and effectiveness in hiring and retention and to maintain consistency and compliance in the recruitment and selection process there are a number of tedious steps that must be followed. These processes can be very time consuming and costly for an organization. Step 1: Identify Vacancy and Evaluate Need Step 2: Develop Position Description Step 3:...
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...Environmental Analysis………………………………………………………………………….6 Divisional Effectiveness Measurements...……………………………………………………….8 Final Report………………………………………………………………………………………9 Cultural HR Issues……………………………………………………………………….10 Emerging HR Issues………….……………………………………………………….....12 Five Year Action Plan……………………………………………………………………………16 References………………………………………………………………………………………..17 Executive Summary Walmart is one of the world’s largest retailers, serving communities worldwide and employing millions throughout their growing organization. This global organization has faced large amounts of scrutiny over the years and has seen legal repercussions from failure to comply with labor laws. Continuing to grow and rise above competitors, Walmart’s strategic HR plan needs to address some of these key opportunities and set the right employees in place to deliver on the company mission and vision. An effective strategic plan will also benefit the organizations reputation and image, both internally and externally. Ongoing pressures and cultural HR issues Walmart faces includes environmental preservation and the companies initiatives to “go green”, as well as the organizations reservations and discouragement towards unionization. These are issues Walmart can address through communication and training. In addition, Walmart faces many emerging HR issues including topics such as diversity, training, retention, and staffing. The majority of Walmart’s positions include...
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...Employee Training and Career Development Paper Gerald Bryant HRM/300 May 30, 2016 Barbarann Ott Employee Training and Career Development Paper Employment development is very important the success of an organization, and the career development of the employee. Employees look to learn and develop new skills. Organizations look to improve efficiency and operations. Together the two can increase organizational development, employee development, and employee retention. A good employee development program consists of planning and the use of methods. This paper will discuss the role of employee development, methods of development, the relationship between organizational development with employee development, the impact of human resources management in development, and my personal career path. The role of employee development can be crucial to the success of a business. Employee development programs can contribute to performance of an organization. A highly functional and developed employee can accomplish more by providing more experience and knowledge (University of Minnesota, 2010). Employee development has a direct impact on employee retention. Companies that train their employees and develop their skills show more faith in their process, and the people working for them. Another advantage to employee development is succession. Training employees and developing their skills can increase their effectiveness and promotable ability. Succession planning can prove easier...
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