The employee market is very competitive; organizations struggle to make the employees aware that their organization is a good place to work and hence attract the best applicants onboard by using the hiring and recruitment process. In addition, to retain the best employees, the organizations make sure that they understand the company’s goals and its commitment their goals to motivate them to produce the best (Blass, 2009). The organization offers to give the best structures and the environment to the employees that favor their maximum production. The success of organizations has transformed from its dependency on its ability in managing natural to effective discovery and management of human resources. The HR function should infuse the right behaviors and attitudes required to conquer other competitors or achieve set goals in the
THE IMPACT OF TALENT MANAGEMENT ON RETENTION Victor Oladapo, Strayer Universit Journal: Journal of Business Studies Quarterly 2014, Volume 5, Number 3 ISSN 2152 Talent management and retention There has always been a shortage of talented workforce in any organization. On one hand there is a problem of retaining talented workers and eventually replace the existing workers with equally or more talented workforce. Organizations will have to attract talent, nurture them, engage them and retain them after having selected them. All of this falls under talent management and so is a critical factor for employee retention. Organizations that have best practices employee retention is taken as a strategic issue.
In addition, the system serves as an organizing tool to identify and attract the most capable employees since companies need to deliver the product or service within targeted timeframe. Since organization success depends on both customers’ satisfaction (outsource) and increase employees’ productivity and commitment (internal source), today companies attempt to attract improving employees’ performance by using various flexible incentive pay programs. Careful design of incentive pays program and rules of administration are crucial to the effective management of an organization. Incentive Pay and Purpose of Incentive Pay System Incentive pay is a form of direct compensation where employers pay for performance beyond the normal expectations to motivate employees to perform at higher levels. (www.uslegal.com, 2001-2014).
Often times, an organization will have trouble recruiting and retaining outstanding employees. Those who are able to do so gain a distinct competitive advantage over the firms who were unable to properly recruit. Additionally, efficient recruitment saves costs as the need to re-recruit and retrain an employee holds substantial costs compared to retaining an employee who has already been recruited. Recruiting the right people is a key managerial role, yet many agencies do not devote enough time to the recruitment process. This case analysis identifies Heidrick & Struggles International, Inc. in relation to the recruitment process and retaining of employees in order to have long-term success within the organization.
Due to complexity of business world nowadays, the trade off here is how to create a low cost system while envision effectiveness in terms of attraction and retention. Exploring employee compensation topic is an interesting discussion as well as important in upholding the company performance high while ensuring concerted activity and continuous motivation among employees. It requires a higher degree of professionalism, and sees organization in whole new perspectives ways. This essay shall discuss the observation of four compensation trends and other recently gaining popularity trends in the compensation aspects. In general, this shall provide a fundamental knowledge for reference.
Marketing Departments in mid-sized businesses face lots of challenges such as how to target customers more efficiently, how to increase market share, how to compete in the market-place and be ahead of competition, and how to increase one-to-one communications with customers. The unsteady economy has pressured businesses to become as streamlined as possible, leaving marketing departments short on budget and staff. Today, our role as Marketing Consultants is to help companies not only retain current customers but also aggressively grow market-share, open new market potentials and add new customers. Our Marketing offerings can help companies conquer these challenges. We can help developing, supervising and executing your Marketing Strategies, whether through dealing with your Marketing Department or through assigning persons from our company.
Many Human Resources are contracting external recruiting temporary help agencies and professional search firms to wing out the applicant that does not meet the company standards. They are also using professional functions like career conferences and job fairs. Other challenges corporations are focusing on are motivating their workers. Many firms are discovering that monetary incentives are not the cure for all for motivating workers, because expectations often surpass results and because inequality bet...
How important is it that employees have the necessary tool to effective engage in assign responsibilities. Motivation is extremely important, for one it initiates an atmosphere of creativity. When workers are not taunted with compensation issues and benefits, implementing their skills into projects become rewarding. Situation Analysis Issue and Opportunity Identification "Kossek quotes, "Too often, human resources (HR) innovations serve executive needs rather than employee needs. By implicitly focusing on quantity rather than quality of innovation, executives may be searching for HR "fixes" when they should be trying to understand what influences employee acceptance of innovations and what makes for a successful HR program" (1990) p. 50.
Super Construction Company Super Construction Company is depicted as having a myriad of challenges that it needs to cope up with. These challenges are inherent in the company due to a distant relationship that is created between the company’s administration units and the employees. To begin with, the employees are not given adequate motivation to aid them to carry out their activities. Due to the fact that personal needs and desires for each employee vary to a great extent, employers are expected to create incentives that stimulate employees to improve their performances and at the same time attain job satisfaction . The problem of employee motivation in Super Construction was identified when Salem came across an article that depicted that some companies in the United States of America were offering various incentives to their employees.