Resourcing and Talent Planning - Term Paper Example

RЕSОURСING АND ТАLЕNT РLАNNING Name: Course Instructor’s name Institution Date Table of Contents 1.0LABOUR MARKETS TRENDS 3 1.2.0Significance of tight and lose labour markets 3 1.2.1 How organisations position themselves in competitive labour markets 4 2.0 THE ROLE OF GOVERNMENT, EMPLOYERS AND TRADE UNIONS IN ENSURING FUTURE SKILLS NEEDS ARE MET 5 2.1.0 Government 5 2.2.0Employers 6 2.3.0 Trade unions 7 3.0 KEY PRINCIPLES OF WORKFORCE PLANNING 8 3.1.0Forecasting in the company's future demand for skills 8 3.2.0Forecasting supply 8 3.3.0Identifying the demand and supply gaps 9 3.4.0Addressing the gap 10 4.0 ROLE OF HUMAN RESOURCE IN; 10 4.1.0 Developing basic succession and career development planning 10 4.2.0Contributing to plans of downsizing the organisation 11 4.3.0 Contributing to the development of job description, person specifications and competency frameworks 12 5.0 MAIN LEGAL REQUIREMENTS IN RELATION TO RECRUITMENT AND SELECTION 12 5.1 Why people leave or remain in an organisation and the cost associated with dysfunctional employee turnover 13 5.2 Strength and weeknesses of two approaches of retaining talent 15 6.0 GOOD AND LAWFUL PRACTICE ON MANAGING DISMISSAL, RETIMENT AND REDUNDANCIES 16 6.1.0Dismissal 16 6.2.0Retirement 17 6.3.0Redundancy 18 References 20 RЕSОURСING АND ТАLЕNT РLАNNING 1.0 LABOUR MARKETS TRENDS The United Kingdoms labour market is estimated to compromise of 32.7m workers out of the countries 63.7m total population. The U.K labour market is also currently experiencing an increment in the employment rate. The unemployment rate in te U.K labour market is estimated to hit a record low 5% (Albaek, n.d.). These statistics mean that the country has a loose labour market, due to this it has a much better unemployment rate compared to other developing countries. Farah’s workforce, therefore, is enjoying the availability of job opportunities presented by the U.K. labour market. For Farah, it is somewhat in a risky path since the availability of more job opportunities means that its workforce is more likely to shift to their competitors or even shift to other industries. In this case, Farah may be faced with a more difficult task of retaining its workforce if it opens offices in the U.K due to the labour market trends there. Farah’s headquarters are located in Abu Dhabi; the labour market in this country is claimed to be competitive yet healthy. The Abu Dhabi labour market is also growing since in the year 2015 it recorded a 4.4% increase (Albaek, n.d.). In the country's labour markets, it is estimated that 75% of the country’s nationals are found in the oils and gas industry’s workforce. This, therefore, means that the labour market of this country is tight: (Highlights of Recent Trends in Financial Markets, 2006). 1.2.0 Significance of tight and lose labour markets One significance in the U.K labour market is the potential of the employees becoming too demanding. For instance; in the case of Farah branch in the U. K due to the tight labour market the company's management risks its employees being too demanding due to the evident multiple optional labour opportunities in the market(Empirical Analysis of Labour Markets, 2013). The other significance of the tight labour market is the inadequacy of skilled and talented workers in the labour market. Tight labour market is the need for the organisation to go an extra mile in order to retain its employees (CAPPELLI, 2009). Due to the availability of work opportunities in a tight labour market the organisation is therefore tasked with retaining its employees. One significance of a loose market like that in Adu Dhabi is the availability of skilled workforce. Thus, Farah is benefiting from the availability of a skilled labour force. The other significance of the loose labour market as that in Adu Dhabi is minimal government regulation compared to the UK labour markets engagement (Empirical Analysis of Labour Markets, 2013). This means that Farah can benefit from this market through being more efficient and competitive as a result of minimal regulation in this market. The other significance of this labour market is that is more suitable for the employee's lifestyle. In this case, the labour market is not too demanding thefore ensuring that employees gladly accept sustainability cilture and practices rather that opposing. 1.2.1 How organisations position themselves in competitive labour markets In competitive labour markets, organisation have adopted various strategies. For instance Farah in its U. K market, which is operating in an evidently competitive labour market has built its reputation within both the business community and the broader industry as a pacesetter company in workforce motivation, rewarding and engagement. On the other hand, Organisations in this labour market has also positioned itself through adopting flexible work practices and work/life integration workforce policies. It has also positioned itself in this U.K labour market through adoption of strong leadership and inclusive managerial style and employee engagement (Empirical Analysis of Labour Markets, 2013). The company has also adopted competitive reward systems as well as also being keen in the development of its workforce skills and talent. 2.0 THE ROLE OF GOVERNMENT, EMPLOYERS AND TRADE UNIONS IN ENSURING FUTURE SKILLS NEEDS ARE MET 2.1.0 Government One significant role of the government in ensuring that the future skills needs are met is the implementation of initiatives and policies that ensure apprenticeships and training are completed in order for one to be qualified for employment. The government will ensure that all potential workers in the country go through these apprenticeships and training courses, therefore, gaining these needed skills (CAPPELLI, 2009). The government also plays a significant role in its publicly funded projects where it ensures that the apprentices are later employed. This, therefore, gives them a chance to put what they learnt throughout the project into action (Iacobucci, 2016). It also ensures future skills needs are met through emphasising on the need for apprenticeship in schools and colleges. The other role of the government in ensuring future skills needs are met through supporting SME’s in getting apprentices through both support and funding (Focus: The relationship between trade unions and employers in France, 2013). It also plays a crucial role in ensuring future skills needs are met through coming up with skill development programmes which ensure that multiple individuals are able to gain important skills. On the other hand, the government role in ensuring future skills needs are met also revealed through the government support for skill development programmes through either support or funding. 2.2.0 Employers One significant role of employers in ensuring that the future skills need to be learnt into is the offering of internship opportunities to the graduates. These graduates benefit from apprenticeship training where the organisation staffs train them (Iacobucci, 2016). Evidently in the case of Farah the company has the opportunity for graduates to complete an internship programme where it takes graduates to gain essential skills for a three-month work period in the company. The other role of employers in ensuring that the future skills needs are met is through the adoption of a succession plan and in-house promotion in companies. This ensures that the employees of the company can get the opportunity to put the skills they learnt into action through job promotion and succession. In the case of Farah, it has an in-house employee promotion policy each time the company carries out its job appraisals (Gopalan, Huang and Maharjan, n.d.). The other role played by employers in ensuring future skills needs are met ensuring that strategically prioritising of training in the organisation. In this case, the employer should set aside a budget catering for the organisation or business training activity. For the case of Farah, it has a yearly training calendar with various training programmes for all its employees. These training programmes have been incorporated into the yearlong company operations. 2.3.0 Trade unions For the trade union, one significant role they play in ensuring the future skills needs is met through provision of workplace learning to the members. This helps the various employees from various workplaces to come together and connect as they share their skills levels and learn on ways to improve them. Trade unions also act as a bargaining power for the members in order to call for the government to support and finance some skill development programmes. Trade unions ensures that the future skills needs are met is ensuring that the training being provided to the employee has met the required standard quality (Rajan, 2016). Trade unions ensure that they shape up the training programmes being provided to the organisation employees by adding value and promoting the learning culture in these training programmes (Focus: The relationship between trade unions and employers in France, 2013). Trade unions also help companies in running apprenticeships which instil these company's workforce with important skills. To some extent trade unions are also involved in coaching and training or employees in this case they instil them with essential skills which they will need in carrying out their work in their respective jobs. 3.0 KEY PRINCIPLES OF WORKFORCE PLANNING 3.1.0 Forecasting in the company's future demand for skills This is the first stage n implementation of a workforce plan in an organisation. In this stage one will need to ask themselves the question; what task will the company need in the future and how these tasks can be stripped down to specific job role in this case the number and type of task will also be considered. The question; what skills are required for every role also needs to be asked (CAPPELLI, 2009). For the question; how can one know their requirement for a company in the future can be answered by using the systematic technique, Managerial Judgement and working back from cost. Through these the analysis activities, one will be able to identify the needed job roles, the type of skills needed and the number of people needed in a company's future. Through this analysis, one can be able to draw up the specification of a particular job or person fitted for that job (CAPPELLI, 2009). 3.2.0 Forecasting supply From the previous principle, we now have information on the number of people needed and the type of skills needed. This particular principle, therefore, assesses the resources of the company. This principle also assesses the current workforce composition, its skills level and the proportion that is likely to remain by the forecasting time (Gopalan, Huang and Maharjan, n.d.). This assessment will also cover the total number of employed individuals and categorise them depending on their grade qualification and their different age groups. It will also look at sickness absenteeism and its impact on the organisation performance (Iacobucci, 2016). On the other hand, it will also assess the skill level of the employees who can be conducted through a personal consultation in order to know the specification on their roles. Thus, this information can be retrieved from the training records or the appraisal reports. The last part of this assessment will cover the number of employees that are likely to be still working for the company. This particular assessment will review the trends in employee turnover and gauge it with the future. It will also review the number of employees nearing the retirement age. 3.3.0 Identifying the demand and supply gaps Having gotten the information on the job roles and skills level of the employees the next principle will be on conducting a skill audit using this information. This audit is meant to help in matching the skill level and job roles recorded. In this case, the common roles would be grouped together, and studies in order to identify the desirable human characteristic that fosters them. The employees will then be cross-checked with their information retrieved in the previous principle. This assessment will be dependent on personal judgement and observation. Afer this assessment the retrieved information will be summarised with the goals of identifying the total available skills and the extent in which this skill are likely to be available in the future (MacLane and Walmsley, 2010). This will, therefore, give a more accurate result for the likelihood of the organisation employees to possess this skills in the future. 3.4.0 Addressing the gap Under this principle, relies on assessment of how a company can best use its resources. This may involve a look at different strategies which include; training of employees, job rotation, retention of valuable employees, and termination of employees who their skills and ambition do not match as those required by the company. The other aspect of this principle is assessing the external sources of skills which the oganisation can use. This calls for a review of the labour market and jugling of further afield employment. On the other hand, it will also review the possibility of employing external employees on contract basis. The assessment will also consider the value of outsourcing some of the tasks or offshoring some and later determine whether it is a viable decision. 4.0 ROLE OF HUMAN RESOURCE IN; 4.1.0 Developing basic succession and career development planning The role of the HR is to strategic and deliberatly developing competencies in potential employees. In this case, the HR can use a couple of strategies including; training, job rotation and target learning in order for this candidate to fill some key positions within the organisation (Marie Ryan and Derous, 2016). The other role of the HR in developing of basic succession and career development planning is identifying the gaps in the organisation that needs qualified candidates to fill them. In line with this, the other role of the HR is to find and nuture future leaders in an organisation. For the case of Farah is has a dedicated HR department that is tasked with developing of basis succession and career development planning. In this case, the HR first looks at the organisation workforce in case there is a position that needs to be succeeded. In this case Farah HR department tries to identify the best-fitted employee, trains them and prepares them to succeed that job position (Iles, 2013). 4.2.0 Contributing to plans of downsizing the organisation The main role of the HR in contributing to plans on downsizing the organisation is identifying of employees whose performance and contribution in the company has been below par for a continuous period. In this case, the HR will use matured performance management in identifying these employees. The other role of the HR in contributing to plans on downsizing is reviewing the organisation processes and identifying activities that are not essential for the organisation process. The other role of the HR is to carryout workload analysis for all the team members within an organisation. In this case, the HR will look at the routine work within the organisation as it tries to find the unnecessary task within the organisation workforce. In this case, the HR will review how manpower can be reduced without compromising the quality of work. Therefore, for Farah, the HR department is tasked with identifying of employees whose workforce is below the company's standards and identifying the unnecessary manpower within the organisation workforce as it helps the company with downsizing. 4.3.0 Contributing to the development of job description, person specifications and competency frameworks The main role of the HR in contributing to the development of job description is coming up with the specific requirement of a particular job and highlighting the essential requirement for one to qualify for this job position. The HR is tasked with reviewing a particular job position and coming up with the personal specification requirements for one to be eligible for this job position (Iles, 2013). In this case, the HR should ensure that the requirement job highlights on the personal specification featured in the job position and the required attributes for one to carry it out: (Faculty Recruitment and Selection, 2015). The organisation’s HR is also tasked with coming up with a competency framework for a particular job position. In this case, it is tasked with coming up with the framework which will be used in determining whether the candidates applying for this job position as qualified as they might claim. The competency from work as per that implemented by Farah is carrying out of both an oral and written interview and cross checking the candidate's information provided in their curriculum Vitae with their references. 5.0 MAIN LEGAL REQUIREMENTS IN RELATION TO RECRUITMENT AND SELECTION One legal requirement in relation to recruitment and selection is the decision of whether to employ employees on temporary or permanent terms. The other legal requirement that the organisation should be keen on is the Equality Act of 2010 that advocates for all employees to be treated fairly despite their gender (Nyce, n.d.). On the other hand the organisation should also be cautious about the Data protection principles as stipulated by the law(Rajan, 2016). In this case, an organisation should be aware that the temporary employees have almost the same statutory right as those of the other employees in the organisation as long as they pose the qualification requirement period of service. However, there is an exception to this legal requirement which only occurs if an employee is employed as a replacement for a woman on maternity leave (Mohaimen, 2015). One significant recruitment and selection method is candidate selection. One strength is that it is useful in determining the applicant's social and communication skills level. This is due to the interview which is majorly carried out through the oral method. On the other hand, the most significant weakness of this method is that I decision tend to be made in a few seconds; therefore, mistakes or wrong valuation is bound to happen. The other weakness of this method is that there is limited evidence for validity. Third party outsourcing is another crucial method of recruitment and selection. One significant strength of this method is that it enables one to benefit from expertise and swiftness of work completion (MacLane and Walmsley, 2010). Farah, in this case, gets its task completed much faster and also get quality output from this method. On the other hand, one significant weakness for this method is that there is high risk of exposing confidential documents to a third party. 5.1 Why people leave or remain in an organisation and the cost associated with dysfunctional employee turnover One main reason as to why employees leave or remain in an organisation is the reward system. Employees have often felt that the pay they are receiving does not reciprocate to their output in a company; therefore, these employees have ended up looking for job opportunities with better pay. Employees leave an organisation due to the type of management. Overdemanding and strict management in an organisation have led to many employees opting to leave an organisation in search for better work environment (Marie Ryan and Derous, 2016). On the other hand one reason why employees remain in an organisation is the potential for career growth and development in an organisation. The great work environment is also another reason that has compelled employees to remain in an organisation workforce. Dysfunctional employee turnover has led to organisation incurring high costs. These costs include involuntary termination where the organisation is forced to ensure expenses related to employee’s benefit continuation, severance package and unemployment insurance premiums. Figure 1: CIPD resource and talent planning survey pg. 29 5.2 Strength and weeknesses of two approaches of retaining talent One approach to retaining talent in an organisation is investing in line managers. One strength of this approach is that line managers will create a conducive environment for the organisation employees due to their direct workplace relation with the employees. The other strength of this approach is that the line managers will help the organisation in implementing its values into te employees therefore the line managers will help in reducing turnover through empowering the employees to succeed in the workplace. On the other hand, one weakness of this approach is that it may prove to be too costly for the organisation. In this case, the organisation is bound to incur some expenses while employing line managers. The other approach of retaining line managers is creating conducive workplace environment for the employees. One significant strength of this approach is that it will bring more flexibility in the organisation workforce, therefore, enabling the employees to maximise their potential. However, one weakness of this approach is that it might result to the leniency of the organisation management and laziness at the workplace. Figure 2: CIPD resource and talent planning pg. 30 6.0 GOOD AND LAWFUL PRACTICE ON MANAGING DISMISSAL, RETIMENT AND REDUNDANCIES 6.1.0 Dismissal Organisation Management should ensure that dismissing of employees is the last resort that the organisation management should carry out. In this case, necessary investigations should be carried out iorder to establishing facts before resorting to dismissal. The organisation management should ensure that it uses dismisal procedures that are fair and consistent in the dismissal process of employees. In this case, the organisation management should be aware that the employees have the right of not to be unfairly dismissed. The organisation management should also first ensure that an employee is well aware of the disciplinary action to be taken before he is dismissed from the organisation (Nyce, n.d.). On the other hand, conclusive investigations should be carried out by the organisation on the matter resulting in the dismissal of an employee before proceeding with the dismissal act. Farah, in this case, ensures that its dismissal actions are in line with the company’s Performance Disciplinary Policy and UAE Labour in order to avoid legal confrontations. 6.2.0 Retirement The organisation management should be aware of the fact that older workers have the right to voluntary retire were the organisation is liable to draw any occupation pension that these workers are entitled. It is advisable for the management to be aware that they cannot force an old employee to retire or either set a retirement age in the organisation. However, there is an exception in this law where it claims that the organisation can only set a retirement age in the organisation only if it is justified by the law terms of its legitimate aim (Rajan, 2016). It should be aware that case a formal notice is submitted by an employee on their intention to retire on a particular date this employee is under no obligation to withdraw this notice. Farah follow the UAE Labour Law in accordance to visa renewals for those employees nearing the age limit for employment in the UAE. 6.3.0 Redundancy The organisation management should be aware that an employee has the right of not being unfairly selected for redundancy. In this case, the organisation should spell out a clear and legitimate selection plan or method for employees for redundancy It should follow the stipulated redundancy process which entails identification sellection pool of the job post to be affected, consulting employees, notifying the skill gaps in the organisation. The HR depatment should then set an objective selection criteria; where it offers any volunteers for a redundacy and ensure that it complies with the statutory dismissal process. Selected parties will then be called to a consultation meeting where it will offer any work alternatives that are sustainable; on the other hand it will then give room for any appeal from the selected employees. The HR department will then make all the required redundancy payments (Tracey and Hinkin, 2008). It should be aware that redundancies can either be a requiremnt or voluntary therefore it is the duty of the organisation to spell this out to its employees before carrying out its redundancy action. Farah, in this case, ensures that its redundancy actions abide by the legal redundancy Act in order to abide by the law specifications while carrying out this action in the company. References Albaek, K. (n.d.). A Test of the Lose it or Use Itt Hypothesis in Labour Markets Around the World. SSRN Electronic Journal. CAPPELLI, P. (2009). A Supply Chain Approach to Workforce Planning. Organizational Dynamics, 38(1), pp.8-15. CIPD 2015. RESOURCE AND TALENT PLANNING; survey report Empirical Analysis of Labor Markets. (2013). Labour Economics, 10(3), p.I. Faculty Recruitment and Selection. (2015). Higher Education Abstracts, 50(4), pp.273-273. Focus: The relationship between trade unions and employers in France. (2013). International Union Rights, 20(4), pp.6-7. Gopalan, R., Huang, S. and Maharjan, J. (n.d.). The Role of Deferred Pay in Retaining Managerial Talent. SSRN Electronic Journal. Highlights of Recent Trends in Financial Markets. (2006). Financial Market Trends, 2006(2), pp.9-61. Iacobucci, G. (2016). NHS workforce planning is in disarray, MPs warn. BMJ, p.i2664. Iles, P. (2013). Commentary on “The meaning of ‘talent’ in the world of work”. Human Resource Management Review, 23(4), pp.301-304. MacLane, C. and Walmsley, P. (2010). Reducing counterproductive work behavior through employee selection. Human Resource Management Review, 20(1), pp.62-72. Marie Ryan, A. and Derous, E. (2016). Highlighting Tensions in Recruitment and Selection Research and Practice. International Journal of Selection and Assessment, 24(1), pp.54-62. Mohaimen, M. (2015). Talent Management: Three new Perceptions intended for managing and retaining Talent in Bangladesh. Asian Business Review, 3(3), p.07. Nyce, S. (n.d.). Workforce Planning for a Global Automotive Economy. SSRN Electronic Journal. Rajan, D. (2016). Employee Turnover and Employee Performance:A Study among Nurses. ANVESHAK-International Journal of Management, 5(2). Tracey, J. and Hinkin, T. (2008). Contextual Factors and Cost Profiles Associated with Employee Turnover. Cornell Hospitality Quarterly, 49(1), pp.12-27. Read More