Effective talent management strategies should be aimed at promoting and enhancing the talent that add value towards achieving organizational objectives. Talent management can help in achieving optimal level of success and in retaining the high performing workforce. This report aims to explain and analyze the importance of talent management strategies within a certain company, by both looking at the current and future need. TM strategy and its importance to TNNB In a knowledge-based economy where labour is typically the largest expense, getting the people strategy part of the business is important, making finding and keeping talent a constant challenge. With changing market conditions, shifting workforce demographics and new ways of working, effective talent management is what separates the high-performing companies from the low-performing ones.
Thus, to foster a culture of engagement, HR leads the way to design, measure and evaluate proactive workplace policies and practices that help attract and retain talent with skills and competencies necessary for growth and sustainability. The challenge today is not just retaining talented people, but fully engaging them, capturing their minds and hearts at each stage of their work lives. Employee engagement has emerged as a critical driver of business success in today's competitive marketplace. Further, employee engagement can be a deciding factor in organizational success. Not only does engagement have the potential to significantly affect employee retention, productivity and loyalty, it is also a key link to customer satisfaction, company reputation and overall stakeholder value.
Human Resource Management The primary function of human resource management is to increase the effectiveness and contribution of employees in the attainment of organizational goals and objectives. An organization's success increasingly depends on the knowledge, skills, and abilities of its employees. Without out them they would surely fail. Particularly, how a company is run and how they treat their employees and customers help set the core competencies, which distinguish one organization from its competitors. This paper is intended to give an overall view of how important Human Resources re to a organization, by looking at the people involved, the laws that effect, and the methods used in Human resource management.
By following or understanding these methods you can tell why HR has become an importance to a successful company. Communication is essential to any company achievement this can either take your company to the next level or set your company back
The resource based view is another important theory, which highlights the role of human resource in the success of the organisation. The resource based theory considers the human resource as the major asset for the organisation that plays a significant role in differentiating the organisation from its competitors. The resource based view focuses on hiring highly skilled and qualified employees in order to make the organisation more competent in the market in terms of human resource (Armstrong, 2010). Due to this reason, the resource based theory is more concerned about managing people in such a way that it becomes the essential resource for the company. To support the resource based theory the HR managers play a very significant role in formulating such HRM strategies, which are directed towards recruiting, selecting, compensating, retaining and developing the highly skilled employees.
Good organizations can be linked with the training and development of good employees. Any organization’s success in growth and innovation is dependent upon the talent, motivation, and leadership of its employees. Efforts made to recognize the value of each employee and the job he or she performs will contribute to a workplace environment that inspires, supports, and rewards employee development. Training is important to an organization’s development because jobs have become more complex and affected by advances in technology and corporate changes. For these reasons, training concentrates on an employee’s current position and develops job-specific skills and abilities necessary for the successful performance of his or her job.
This essentially means the employees must be literally driven to feel motivated and become active performers that would result in a positive work environment and enhanced productively levels. For this it is important to understand exactly what motivates people. The employees are the most valuable asset of a business hence, the recruitment and selection procedure it adopts has a significant role in attracting potential employees for a right position, at right time. Recruitment and selection procedures are predominant for sales positions and are part of human resource planning. Each stage of the recruitment and selection process should be planned and precisely implemented for gaining desirable results.
The main purpose of Human Resource Management is to increase the effectiveness and contribution of employee’s attainment of organizational goals and objective (Youssef, C.). Many areas of HRM have been discussed in this course. Those areas are EEO and Affirmative action, Human resource planning, recruitment, and selection, Human resource development, compensation and benefits, safety and health, and employee and labor relations. All these categories have an impact on how an organization is managed. Although there are many things that impact a business, the most important thing about managing a business is selecting the right people to help the company succeed.
INTRODUCTION Motivation is the key determinant which guides an employee’s needs, wants, hopes and expectations. It can be subtly inferred by observing employees behavior and gauging whether he is motivated enough to fulfill the greater goals of the organization. There are various methods through which an organization can empower their employees and cause them to work in a beneficial way. A motivated employee proves to be a boon for the company as he turns out to be highly dependent, loyal and productive which is crucial for the overall growth of the company. He in turn is able to realize his true potential and be clear about his career path.
The employees in an organization can be considered the most valuable asset at times. In addition, by specifying job tasks and grouping them into work units it helps to better organize the work load and resources. In order to do this the organization must management the tasks and personnel. Leading is mobilizing or stimulating people to achieve their best. Managers need to be able to motivate their employees to achieve the business group and overall organizational goals.