Talent Management in TNNB Ltd - Coursework Example

TALENT MANAGEMENT IN TNNB LTD + Submitted Talent management in TNNB Ltd Introduction In this 21thcentury world economy, firms and business enterprises such as, TNNB Ltd have no choice but to consistently invest in human resource as a primary goal of their mission. For, the company to realize cohesion between systems engineers and their mechanical design counterparts. Human resource leaders have to work closely with the two project managers to attract cooperation among them. They should also put more weight on hiring, nurturing, and retaining talent. This should be enforced besides the fact that shortage of skills creates both cultural and socio- economic challenges in the organization, this is attributed to the fact that talent crosses borders. Therefore, in the perspective of workforce sequences such as change in customer preference and technology in the field of engineering and mechanical design technology. Human resource strategies Future oriented organizations such TNNB must consider rethinking of their view of human resource management strategies, which have key internal and external factors affecting them in an organization. Radical changes have to be undertaken in the company regarding various human resource management variables that will help manage current and future human capital in the organization. These factors are social, technological and depend greatly on the environment in which the human capital is located. The organizations success depends on the design and implementation strategy that human resource has. These strategies should be linked to the employee of the organization and other external factors such as the government. Human resource strategies should also analyze all the dimensions of TNNB systems such as nature of staff their skills and abilities, stakeholders and the current market trends in the industry. This will help the management to predict thus manage their labour force leading to maximum labour output. In addition, the culture within the organization, leadership from the two project managers and employee engagement has a crucial role to play in talent retention (Amos 2008 pg45). The management should consider these factors in order to develop an integrated framework in talent management; this will help the organization to develop a pathway for outstanding business performance. In an organizational set up such as TNNB, it is common knowledge that team managers should add more value in the corporation. This will help reduce tension between the two engineering departments. The best strategy of doing this is by converting the engineers and other sub ordinate staff in to business partners of the company, making them feel like they are part and owners of the business. When this is done, the workers will directly engage in business-oriented activities during their work hours rather than attacking the two project managers. The human resource management strategy should also share functional visions on the strategic framework laid by the senior management, the project managers, and team leaders in various engineering departments. This will help the organization develop cross-operational sections in the company by integrating employees with key players in the company. The department should also device ways of measuring human resource performance, outlining trajectory transformation and at the same time support dynamism in the organization. Talent management In a competitive market environment, talent management is a primary factor in any organizational success. This is a broad area of management, it is the implementation of diversified strategies, or systems designed to increase organizational productivity by creating improved processes that are able to attract, nature and retain engineering and project management skills in the organization. Research has revealed that 85% of human resource managers are conscious of the fact that the most challenging task is managing their organization’s ability to compete for talent (Berger 2010 pg13). This is the root cause of tension between the two engineering departments. Through this, it is observed that effective talent management is one of the most critical points of advantage in recent business times. TNNB is in a position to offer enormous business returns given the fact that it is regarded a giant in the engineering solutions industry. However, talent management and work force planning is a complex and rapidly evolving area of management. This influenced by both internal factors such as the poor planning skills of one of the project manager in the company. This may also be affected by the fact that the organization is a family business such that those put in the management and influential positions in the company are not qualified as good manpower and talent managers. External factors may include competition in the market from other companies and the long duration that the project managers take to commission a project. Human resource management team should formulate a strategy that aligns the engineers and project managers with the goals of the organization, active management participation, and human resource management. Over the years, evolution has taken place in the field of manpower planning and talent management in general and concepts such as role of line directors in talent management have emerged. Others include management, processes, culture, and accountability in the field of talent management. TNNB should increasingly uphold talent management as a top priority objective in its operation. To enable it move from a reactive to a pro-active organization that makes full use of the talent available within its human resource system. The organization should develop a specific talent and manpower planning initiative. They should also consider this initiative a top priority, implementing departments and officers should work closely with the management in order to implement fully the objectives and goals of the talent management initiatives. These strategies should provide the context of variety and diversity inclusion. The organization for instance may find it challenging to find the right mix of personnel, which is a crucial element in talent management this is because of family infiltration in the business affairs. On the other hand, leaders and employees of the organization should be universally employed and outsourced based on their qualification and competence. In the organization’s endeavor for talent management, its success depends on effective hiring of staff and retention. This goal can be easily accomplished when the human resource manager focuses on four key areas. Putting more weight on employer brand and public image, ensuring the company is stable, creating complex and beneficial talent management strategies, and creating a multi level accountability mentality among the employees. Looking at retention and recruitment there are a number of difficult areas to deal with. The company is likely to have a formal succession plan however; the responsibility for applying the strategy varies starting with the human resource management officials, the overall manager, and operations director. Human resource department can also integrate leadership development as a component in talent development. The officers responsible should design an evaluation strategy that will enable them to gauge whether the designed initiative put into action can make the company more competitive. Secondly, an assessment should be developed to ascertain if the leadership program in force strengthens views about the company that the organization aims to have in relation to its reputation building process. Find out whether the engineers and subordinate staff view the strategies and methodogies designed by the company as legitimate. For instance, do they think these ideas are serious? Does these strategies and techniques influence positively the behavior of the employees and do they affect crucial business decisions? The company should rapidly develop a structured leadership process by looking at the unique abilities of the members of staff available. For example, the project manager who is good at running projects on the field should be assigned the implementation part of the projects that the company engage in. while the one who is good in planning be assigned the production of blue prints of various projects assigned to the organization (Tsui & Lai 2009 pg34). The organization should also check on the possibilities of increasing the employee budget and include staff motivation and appraisal mechanisms such as training to further their talents. This will in turn help the company to identify unique talents for technical and management jobs within the company such as project management. Employees that prove to be high performers are identified using a 360-degree response mechanism that enables the human resource management to gauge their suitability and readiness to take up new challenges. This makes the organization aware of the defects and strengths of their recruitment methods. Due to this, careful selection of developed talents, 90% of positions filled in an organization should be sourced internally (Armstrong 2010 pg90). Practices and policies that TNNB can use in future to increase talent nurturing and retention in the future also include. Employee engagement and its relationship to talent development, these practices, and policies should demonstrate organizational commitment on human resource engagement that results into to lower turnover. Employee engagement has a significant impact on employee output and talent retention. In addition, employee engagement acts as a marking phenomenon of the bottom line. Through this, the organization is able to predict the trend of its labour force. Committed employees perform 20% better than the others do and 87% of them are unlikely to show interest of resigning from their jobs (Gold & Thorpe & Mumford 2010 pg67). The core principle of this engagement should be based on depth, quality, and correctness of communication from the human resource manager to the engineers and subordinate staff of the company. The role of the management and project managers of the organization is important catalyst for employee commitment and engagement to their line of duty. This strategy tries to deviate a way from emphasis given to the organizations, team and their team leader and rather check more on the individual employee performance. Manpower The company should also use its forecast or anticipation of shortage of skills, which has been indicated by tension and frustration among their staff members. The engineering staff are also disputing the competence of their project managers these indicators shed some light on shortage of staff in the organization because of lack of competence and coordination of designs, constructions and running of projects. Because of this, there are crisis meetings and last minute rushing in running the company projects. Change of technology in the industry can also act as an indicator for shortage of labour force in the organization as some of the engineers and technicians are not competent enough to adapt with the change in technology. In another way gap in the talent in an origination can also vary with the organization size, the engineering market, and availability of pool of labor force. For instance if the organization has grown over the years the company will be more concerned with talent loss as opposed to when it was a small engineering firm. Proper manpower management offers will offer integrated solutions to the organization’s operation and maintenance of projects in progress. This will range from follow up of incomplete or poorly done projects to the entire products of the organization. When efforts are channeled towards manpower development the company will come up with innovative ways of generating man power management solutions designed to achieve maximum and quality output from its labor force. This will improve skills and professional resources available in the company. The organization should be proactive and solution driven organization, responsive to the needs of the workers and the dynamic labor policies. The solutions should incorporate the strength good ethics and good conduct of workers. In partnership with stakeholders in the market, they should create a zero sum situation in terms of employee remuneration. The objective of this strategy is to create a sustainable competitive advantage. Conclusion In conclusion, rewards and appraisals also contribute significantly in both developing and retaining employee talents. Research shows that employees who achieve satisfaction and are happy with their jobs, have been both awarded and accorded recognition at least four times in their serving time in an organization. TNNB should put in place formal and informal reward and recognition systems within the organization. This can either be in form of monetary or non-monetary awards. However, for this strategy to be properly valued by the employees the organization should continuously communicate to the employees about the awards this will values the rewards among the employees and instill some sense of worth in them. This will stimulate their commitment to the company hence increasing their performance with minimum friction. Reference List GOLD, J., THORPE, R., & MUMFORD, A. (2010). Gower handbook of leadership and management development. Burlington, VT, Gower. Wetton, Cape Town, Jutta. ARMSTRONG, M. (2010). Armstrongs essential human resource management practice: a guide to people management. London, Kogan Page. TSUI, A. P. Y., & LAI, K. T. (2009). Professional practices of human resource management in Hong Kong: linking HRM to organizational success. Aberdeen, Hong Kong, Hong Kong University Press. AMOS, T. (2008). Human resource management. Wetton, Cape Town, Juta. JACKSON, S. E., SCHULER, R. S., & WERNER, S. (2011). Managing human resources. Mason, Ohio, South-Western. TORRINGTON, D., HALL, L., & TAYLOR, S. (2008). Human resource management. Harlow, Financial Times Prentice Hall. CHEESE, P., THOMAS, R. J., & CRAIG, E. (2008). The talent powered organization: strategies for globalization, talent management and high performance. London, Kogan Page. ISRAELITE, L. (2010). Talent management: strategies for success from six leading companies. Alexandria, Va, ASTD Press. SILZER, R. F., & DOWELL, B. E. (2010). Strategy-driven talent management: a leadership imperative. San Francisco, Jossey-Bass. BERGER, L. A., & BERGER, D. R. (2010). The talent management handbook creating organizational excellence by identifying, developing, and promoting your best people. New York, McGraw-Hill. Read More