...|BUSINESS |[pic] | ASSIGNMENT FRONT SHEET |Student Name: | |Certification : I certify that the whole of this work is the result of my individual effort and that all quotations from books, periodicals etc. | |have been acknowledged. | |Student Signature: |Date: | |Student Registration Number: | |Student email address : | |Programme :MBA |Year/Level : | |Academic Year : 20012/13 |Semester : 1 | |Module title : People Resourcing |Assignment...
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...Attracting and Retaining Talent in Corporate America GB 540: Macroeconomics Randy Worthy Graduate Student February 8, 2011 “….companies were increasingly dependent on the knowledge worker..the new worker who worked not primarily physically with his body doing physical labor, but with his mind…all workers were of significant actual and potential value to the firm…labor was not an expense; labor was added value, a resource, potentially the greatest resource that an organization possessed” William A. Cohen, Ph.D. One of the most difficult challenges that employers are currently facing is finding excellent and talented employees to work for their companies. For one, resume falsifications has become notoriously rampant in the employment world. Moreover, it is now hard to find people with integrity, people whom you can have absolute trust in. An equally difficult task is to keep the bad kinds of employees out of your company. You may be very cautious with your hiring process but you will still sometimes end up with employees that give you nothing but bouts of headaches which creates employee discontent and morale issues. To help you attract and retain good employees and repel bad ones, the organization should have in place the following characteristics: a. solid reputation; b. provide clear job objectives; c. present challenges and learning opportunities; d...
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...with maximum efficiency. In the nonprofit sector, creating a competitive compensation and benefits strategy is important to attract talent, but developing a total rewards package may be more important. “Employees nowadays are looking at the whole package: ‘What’s my base salary, do I have incentives, what are my benefits, can I telecommute, can I have flex time, can I have a relaxed dress code and is it family-friendly?’” Glantz said. “[If] a not-for-profit can offer what’s considered an attractive total rewards package, [it’s] going to help that company.” The argument now is that these intangibles need to be measured and monitored, and subsequently tied to the bottom line. Re-defining the bottom to include intangibles such as leadership practices, organizational capabilities, and the ability to attract talented people is necessary. In addition, as organizations continue to automate business processes using technology, in order to remain competitive against others that are doing the same, they must now focus on their talent. Additionally, though talent can be cultivated and developed, it can also leave the organization, become sick, de-motivated, and perhaps influence others to behave in ways unfavorable for the organization. Worst of all, talent can deliver the “double-whammy” by moving to a direct competitor. The strategic management of talent as such a critical driver of corporate performance has become more and more important in the last few decades. Several key events have...
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...Assignment 1 HRM532 Date: October 18, 2011 Talent Practices at The Home Depot Home Depot’s Plan Home Depot had several intentions in regarding the use of its organizational talent to gain a competitive advantage in the Do It Yourself Industry. The first of these is to ingrain the importance of corporate success through human capital. In the current economic environment, corporate success and growth; even survival, is dependent on the firm's ability to create employees that are motivated, skilled, and committed. The concept of how important human capital is to corporate success can be summed up with a quote from Nobel Prize-winning economist Gary S. Becker says that “The basic resource in any company is the people. The most successful companies and the most successful countries will be those that manage human capital in the most effective and efficient manner” (Brocaglia, n.d.). The Home Depot embraced this idea when the company considered its organizational talent as a competitive edge. The second of these intentions is first-class customer service through engaged employees. Employees are the first line of defense and influence when it comes to a firm's level of achievement in customer service. Customer service and satisfaction become the competitive advantage that allows for retaining customers longer even through severe price competition; and that satisfaction should be paramount through all stages of customer interaction (IBM, 2007). By placing such...
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...The tipping point for talent management Human Capital Institute | www.humancapitalinstitute.orgNo Comments In Malcolm Gladwell’s book, an innovation or change can suddenly appear through small, almost incremental steps, none of which by itself is especially noteworthy. But the combination of these seemingly minor events can cause organizations to be shaken, countries to be impacted and people to break out of established behavioral patterns. What could not be accomplished in one grand wave of the baton is, in fact, being accomplished by different pieces of the puzzle coming together at just the right time. We are in the midst of such a sea change in the field of talent management. This new approach to managing companies and people has not yet become a clearly articulated science. There is still too much to understand and learn about the shifts occurring before us. But there is an emerging set of practices – especially as evidenced by industry-leading companies – that are moving talent management to its tipping point The changing business context The current economic environment sets the foundation for the reason that talent management practices have arisen in the first place. Bossidy and Charan (2004) have identified five different economic stages that have existed during the past century. Others have talked more generally about the movement from agrarian to industrial to the knowledge economy. Pink (2005) describes the next step as moving from the knowledge age to the conceptual...
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...Course: Talent Management – HRM 532 Date: Sunday, February 26, 2012 Evaluate the effectiveness of the roles that the strategic leaders played in the formation of the performance management strategy. Silzer and Dowell (2010) define Talent Management as “ an integrated set of processes, programs, and cultural norms in an organization designed and implemented to attract, develop, deploy, and retain talent to achieve strategic objectives and meet future business needs” (p. 18). And lists the following as components necessary for a talent management program strategy: recruitment; selection; promotion; placement/assignment; on-boarding/assimilation; retention initiatives; rewards/recognition programs (other than compensation); training and professional development; coaching/mentoring; leadership development; performance management; career p Develop a five (5) point criteria for evaluating the effectiveness of the talent management strategy and how the data could be collected. Silzer and Dowell (2010) go on to state that after determining the talent requirements that are strategically important to the organization, the next step is to consider whether there is a sufficient internal talent to meet that short and long term business needs of the company, this could involve either making or building the needed talent from within the company or buying from outside company (p. 97). Bersin, J. (2011) provides a table to identify competencies for leadership talent (p....
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...Formulate a talent management strategy to encompass the entire talent requirements of the organization. Epperson Fit Factory is a wellness center consisting of 200 employees in which 20 of those employees are in leadership positions. The talent management strategy of the wellness center is that employee engagement is the organization’s first priority because without the motivation of employees productivity goals will not be met and the customers we serve will not be loyal. In order to motivate employees Epperson Fit Factory not only formally and informally recognizes employees; we also offer a competitive benefits package, competitive salary and an effortless sense of family. In order to offer a competitive salary and benefits package, Epperson Fit Factory will research other wellness centers in the region. We will offer at least a 5% increase in pay and ability to increase pay through higher productivity and exceeding goals. The organization will offer vacation pay, sick pay, discounted child care and monthly after hour gatherings where employees may bring family members and mingle amongst one another. Epperson Fit Factory will also work with employees to find out what their goals are and how we can help them meet them through tuition reimbursement, on the job training, networking and shadowing. Determine the key components of talent management, including identifying, assessing, and developing talent. Talent management is defined as the implementation of integrated...
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...Assignment # 1: McDonald’s Case Study June N. Lewis Dr. Waldo, Instructor Talent Management - HRM 532 Strayer University July 21, 2013 Assignment #1: McDonald’s Case Study Outline the talent management program that led to success for the company. In the fourth quarter in 2002, McDonald’s had their first profit lost and the company began to ask themselves what went wrong because they had a history of outstanding performances until then. Upon reviewing some of their key components, the organization realized that they had to revamp their Talent Management process so that it would become aligned with the company’s business objectives and policies. Talent management is defined as “a subset of human resource (HR) processes, programs, and tools designed to identify, assess, develop, and retain talent (Silzer & Dowell, 2010, p.75). The company’s first two steps in achieving success was to restructure their performance development system (PDS) throughout the organization for all of the staff positions along with coming up with a talent review process for all of the officer-level positions in the company. Next on the list was creating and implementing a sequence of enhanced development programs, such as, Leaders at McDonald’s Program (LAMP), the McDonald’s Leadership Institute, finally, the launching of the Global Leadership Development Program. When McDonald’s had originally rolled out their strategy for the performance development system (PDS) in 2001 for all of the staff...
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...integration into talent management system of Janssen Pharma Arun Vigneswaran M Ist Year M.A HRM&LR Contents: INTRODUCTION A career path is the sequence of work positions or roles that a person holds over the span of life time..The fundamental components of a career path are a sequential list of roles, Qualifications, Critical Developmental Experiences (CDE), Competencies, Organizational perspective. The potential and promise of career paths lie in the dynamic part of career and talent management.. Career paths factor in mobility and embeddedness and to what extent they play a role in career success. In the contemporary organization concepts of boundryless careers are emerging and needs to be factored in for a comprehensive career path. A career path can be harnessed to maximize both individual and organizational potential and can be used to achieve important business outcomes by aligning with a variety of HR processes and systems. In this project we have tried to find how career paths are designed in any organization and further how it can be customized for MAF, BD division of Janssen Pharma. Career paths have become an important part of talent management and is used extensively during promotion, retention, exit, future planning. We have also tried to identify how career paths can be harnessed by the talent management team and used to solve some of the current problems like attrition, stagnation. CONCEPTUAL DESIGN OF CAREER PATHS In today’s War for talent scenario getting...
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...Whirlpool Corporation (Goldsmith) Strayer University HRM532/Talent Management Dr. Moore 12/5/2011 Discuss what factors emerged at Whirlpool that impacted its talent needs. As the company expanded its operations in the US and globally, the company’s leadership needs changed. Operating in a dynamic and diverse market added additional considerations for the company’s leadership talent pool because “the growth, size and scale of the business added a level of complexity that required different skill sets and capabilities to compete in the global marketplace” (Goldsmith and Carter, 2010). The business grew in the US and globally, technology and new product development required a talent pool that was not only technology proficient but capable of helping the companies meet the dynamic and diverse needs of the consumers they served. Also, Whirlpool was now competing for talent acquisition and product business in a global marketplace requiring the company to adjust talent and product marketing strategies that allowed them to continue to sustain product growth as well as attract talent. As a result the changing dynamics of the workforce made it necessary for Whirlpool to develop a talent strategy that accounted for the fact that the workforce was no longer the loyal workforce that was typical in years past. (Goldsmith and Carter, 2010). Discuss how expanding globally changed the talent requirements at Whirlpool. Whirlpool began developing the Whirlpool Leadership...
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...Talent Development at PepsiCo PepsiCo’s Competitive Advantage PepsiCo uses its talent to sustain a competitive advantage by the following means: The first means is talent management. PepsiCo’s talent management has four frameworks, talent acquisition, talent management and development, PepsiCo University, and Inclusive culture. PepsiCo has been very successful in talent development and many of their former CEO’s are now in leadership positions at other Fortune 500 companies. The second means is talent development. PepsiCo focuses on developing leaders. They use talent development as a model for targeted succession planning. PepsiCo uses talent management and development to empower employees and develop growth. Growth is the first component of the PepsiCo’s corporate value statement. The growth and development of their employees is critical to their success. PepsiCo’s Career Growth Model PepsiCo has a good model for career growth. The following discusses three key elements: The first key element is proven results. Results are measured by PepsiCo’s performance management process and reinforce the cultural emphasis on growth (Silzer & Dowell, 2010). Business growth creates opportunity for employees to grow and get involved with the company. The second key element is leadership capability. Leadership capability reflects the behaviors that employees are expected to demonstrate (Silzer & Dowell, 2010). The behaviors are tiered...
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...Performance Appraisal Form of Talent Management Head a) Objectives: * Hiring culture fit employees * Talent Retention * Effective workforce planning b) Dimensions: Quantitative: 1. Cost per hire – A metric is designed to measure the costs associated with the sourcing, recruiting and staffing activities borne by an employer to fill an open position in the organization 2. Time to fill – From the time you advertise your vacancy till the time the candidate is actually on board 3. Performance of hired employees – Appraisal rating of employees joined after one year of hiring 4. Attrition rate – Attrition rates describe the rate at which employees leave a company Qualitative: 1. Aligning talent acquisition strategies with business needs – Identifying the business needs and aligning the talent acquisition strategy accordingly to contribute in fulfilling business strategy 2. Effective use of technology in hiring – Using the latest online mediums available (for example: portals, LinkedIn etc.) and targeting at reducing the cost c) Measures: S: Strengths to build upon P: Performs well & meets expectations D: Developmental needs I: Issue Dimension | Expectation | Actual | Measure | Quantitative | Cost per hire | 10% of CTC | 8% of CTC | S | Time to fill | 2 months | 3 months | D | Performance of hired employees | >= 3 | 3.5 | P | Attrition rate | < 6% | 5.8% | P | Qualitative | Aligning talent acquisition strategies...
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...professionals in 26 countries on every inhabited continent. The majority work in accounting, finance, and shared-service areas, but there’s also a significant finance talent presence in tax, treasury, audit, enterprise resource planning (ERP), and investor relations. There are also specialists in a variety of areas, including economic, enterprise risk management, real estate, information systems, and product innovation. The company’s general organizational design for finance is to locate talent as close as possible to business activities. Finance talent is found in Whirlpool factories, sales offices, R&D functions, and regional headquarters around the world. Finance directors and VPs often have dual reporting relationships—to their business units as well as the office of the CFO. Because Whirlpool has a significant global presence, a great number of its talent base must have higher-than-average skills in U.S. GAAP, currency management, and IFRS. Aside from a strong emphasis on leadership development and finance technical competence, skills in Six Sigma, innovation, and employee engagement are highly valued Vision: Transform the finance organization’s capabilities at Whirlpool to world class status Value drivers of this function: Interdependency of people, processes & systems Trigger: Lack of attractiveness of Finance Talent towards Whirlpool due to lack of development opportunities, training & succession planning, Group CFO Roy Templin had to take up the transformation project ...
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...Talent Management Strategy Assignment 3 HRM-532 Contemporary Business Submitted by: TJ McPhail Submitted to: Dr. Daniel C. Frost May 18, 2015 Formulate a talent management strategy to encompass the entire talent requirements of the organization. When discussing and planning your organization’s future, it’s important to consider not just the goals, objectives, and initiatives, but clearly how to accomplish them. The most important contributor is undoubtedly your employees. Aligning the organization’s business strategy with its employees is called talent management, and it encompasses aligning the right employee with the right position in the organization. Talent management is a business strategy and must be fully incorporated within all of the employee connected practices of the organization. Retaining and attracting talented employees, in a talent management system, is the responsibility of every tier of management in the organization, but especially the Human Resource managers who are in charge of hiring, training, and development. A successful talent management strategy also engages in the practice of sharing data regarding high profiled employees and their employment histories and accomplishments with all divisions of the organization. This process of sharing and transparency makes it possible for a range of departments to recognize available talent when opportunities become available. The charting of the staffs skills and strengths enable the organization...
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...Talent Management Strategy Formulate a talent management strategy to encompass the entire talent requirements of the organization. When discussing and planning your organization’s future, it’s important to consider not just the goals, objectives, and initiatives, but clearly how to accomplish them. The most important contributor is undoubtedly your employees. Aligning the organization’s business strategy with its employees is called talent management, and it encompasses aligning the right employee with the right position in the organization. Talent management is a business strategy and must be fully incorporated within all of the employee connected practices of the organization. Retaining and attracting talented employees, in a talent management system, is the responsibility of every tier of management in the organization, but especially the Human Resource managers who are in charge of hiring, training, and development. A successful talent management strategy also engages in the practice of sharing data about high profiled employees and their employment history and accomplishments to all divisions of the organization. This process of sharing openness makes it possible for a range of departments to recognize available talent when opportunities open and become available. The charting of people’s skills and strengths enable the organization to appraise the manpower that is not being utilized properly and to its highest potential. This is critical from the standpoint of...
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