Cipd - 3rto Resourcing Talent

Produce a report of approximately 750 words, in which you identify and assess 4 factors that affect an organisation’s approach to both attracting talent and recruitment and selection. Identify and explain 3 organisational benefits of attracting and retaining a diverse workforce. Describe 3 methods of recruitment and 3 methods of selection.

This paper is going to describe OCBC’s unique approach to talent management and development. Compare OCBC’s approach to talent management and development to other organizations you are familiar with (e.g., current or past employers, a family business). Explain how OCBC’s approach to talent management and employee development been a primary contributing factor to the firm’s success. Evaluate the extent to which OCBC’s approach to talent management and development fits other organizations or industries, including some limitations if applied elsewhere without modification.

economic growth, (2) a diverse workforce can capture a greater share of the consumer market, (3) recruiting from a diverse pool of candidates means a more qualified workforce, (4) a diverse and inclusive workforce helps businesses avoid employee turnover costs, (5) diversity fosters a more creative and innovative workforce, (6) businesses need to adapt to our changing nation to be competitive in the economic market, (7) diversity is a key aspect of entrepreneurialism, (8) diversity in business ownership, particularly among women of color, is key to moving our economy forward, (9) diversity in the workplace is necessary to create a competitive economy in a globalized world, and (10) diversity in the boardroom is needed to leverage a company’s full potential.

Workplace diversity is when there is diverse culture of individuals in the workplace. It is when there is a value placed on the variety of ideas, race, ethnicities, religion, gender, sexuality and orientation, which is flourishing in an environment. Depending on your employer and workplace, workplace diversity can vary based off several different factors. Usually, there is a preferential standpoint taken on the matter and it can be either display a high or a low context culture of diversity. According to Mason (2013) Workforce diversity has been described as “a double-edged sword; it has the potential for positive and negative outcomes” (p.659). Workplace diversity is important in a business setting because it carries forward a combination of different types of people to work together in unity, encourages uniqueness, innovative, creative approaches, and supports interesting divergent ideas to accomplish tasks or goals.

Depending on the nature of the business, organizations will require various sets of talents (skill, knowledge and capabilities) that contribute towards the their growth and success. Markets in general have high supply of some talents and low of others. Based on the talent requirement of the organization and the market in which it operates, it will have to alter its approach towards attracting the required talent. This may involve adjusting factors like remuneration, long & short-term benefits, career prospects, trainings, etc.

While it is certainly important to acquire new talent for the organization, it is worthwhile investigating what talent is already available within the organization and if these can be used

Attracting and retaining a diverse workforce benefits an organisation in making the business successful. The following

Organisational success depends on having the right skill mix. This unit provides an introduction to resourcing and talent planning process. Studying this unit will enable learners to understand the factors which impact on an organisation’s resourcing and talent planning policy. They will learn about the relationship between recruitment and selection by identifying the key stages

This report will look at Talent Planning in organisations. Talent Planning describes an organisation’s commitment to recruit, retain, and develop talented employees to meet current and future organisational needs. It focuses on recruitment, ensuring the right people are attracted to the organisation.

Recruitment: systematic recruitment cycle and awareness of relevant documentation, for example authority to recruit forms and job requisitions; writing job descriptions using an appropriate model, for example seven-point plan; writing person specifications; writing job advertisements and selecting appropriate media for internal and external advertisement; managing application forms; provide advice to managers on recruitment.

The objective of this report is to identify and assess four factors that affect an organisations approach to both attracting talent and recruitment and selection. I will also be looking at attracting and retaining a diverse workforce and the different methods of recruitment and selection.

Employees today are also aware of their importance and the shortages of talent supply that is why focusing on sourcing talent or recruitment is at utmost importance of the organisation. More importantly, as an organisation sourcing for talent, it is a must to ensure positive experience reflected on the organisation’s values, are felt by the applicants all throughout the recruitment process to ensure that the applicants maintain its high perception to the company and as such, the applicants may then refer other talents to the organisation. Doing so, enables the organisation to set its brand which is now, one of the most important considerations of applicants in accepting the job offer.

Talent Strategy and Planning - The challenge is in clearly determining the strategic objectives, business plan and their impact on people. It is important to determine and establish human capital needs and have a well defined demand / supply forecasting capability. HR leadership needs to be absolutely and positively be involved in developing these strategy and plans. A best-in-class talent management strategy should address the following 7 key items

S. C. Verma, (2000), explained about the linkage of talent acquisition management and engagement with business strategy of the organization. In this context author has stated that, historically, organizations have not treated the recruitment process as one of strategic significance, but latterly many are now waking up to the reality that, world has changed; and no more can the organization pick and choose between several great candidates for one position. Author has observed that, several changes in connected world have tipped the scales in favor of the highly talented individual looking of a new opportunity. In the opinion of author, talent acquisition is part of a broader strategic approach in the quest to gain and sustain a competitive advantage. Other aspects include talent development and retention which are primarily inward facing, whilst the former is outward looking. Author has concluded that, the organizations are taking talent acquisition management and engagement as their significant business strategy and even the employees are satisfied with the policies and measures adopted by the organizations.

Talent management is a term that includes a large variety of different methods a company interacts with workers from training, coaching, succession, recruiting and performance. It is considered an umbrella term that all of the various talent strategies fall under. Talent management has become a major issue in todays’ job market with more companies beginning to understand the need to retain quality people in their workforce and have started to attempt changes in their talent strategies as the market has become even more competitive these days (TALENT MANAGEMENT,2015).