Talent & Firms Success/ Failure

Employees who have experience in leadership and have been in the industry a while would be in the talent pool called leadership talent. The next key concept after the employee has been placed in the talent pool, is to establish a planned development program which share and teaches them the business knowledge and well as professionalism, teamwork and leadership development. Another key concept is the increase of retention of employees identified in the various pools. One of the first key concepts of talent management for this “for-profit” organization is to develop talent and identify functional areas is linked to the business strategy. After you review the business strategy to ensure linked to the functional areas, you identify the focus areas. Next you identify and define the organizational capabilities, then define key leaders. Assess and define individual functional standards. Then identify and build talent systems components, and then measure impact and effectiveness. To help achieve these steps mentioned above you must implement a structured selection process. Develop a career development program that also assesses talent. Implement formal learning and developing programs. Merge functional competencies integrated with the performance management systems; measure and assess your outcomes and then reward and recognize employees that have excelled in the programs. The key components for the employee would be Selection; Development; Succession; and

Talent management has been used to attract the highly skilled workers as well as developing and retaining the existing workers for the business to achieve its objectives. It always forms what employers consider since it assists in getting and keeping the most qualified individuals.

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.

D. Consequences for recruitment and retention of top talent: Matthew Rice’s article outlines the compensation and talent strategies that minimize employee turnover. Talent audits are used to identify top performers, investing in employee engagement strategies to improve retention of the existing team, and eliminate employees’ reasons to leave by offering job activities and development opportunities, and this because: “A talent audit is a critical first step in understanding your risk profile and where you need to invest time, energy and capital to limit your turnover risk” (Rice, 2011, p. 32). If applicable, describe any consequences this scenario has had for the organization 's ability to recruit and/or retain top talent. The research provides insight in how changes in

Identify and assess at least 4 factors that affect an organisation’s approach to attracting talent.

It is essential for every organisation to understand the recruitment trends as by attracting the best talent, organisations will have an advantage over their competitors. When talent planning, organisations should promote a career opportunity, not a job opportunity as this gives a whole new outlook to any potential employee.

The Work-Life Balance: The career life and the personal life sometimes lead anxiety to women as they have to handle both their workplace and home at the same time smoothly.

For an organisation to attract talent successfully, as part of the talent planning policy it needs to identify and assess what factors affect its approach to attracting talent. For example:

The most intriguing idea that come into my view of talent management is an achievement, put into practice of talent management to review staff meeting. For discussion in relation to talented staffs and building their knowledge, expertise and possibility introducing to other managers in separate sections of the business. As well as the potential to utilize make growth of inside talent is magnified for equally the business and the talented workers.

In order for corporations to remain competitive in the business market, they will need to attract the talent. The talent will go to the companies that give them the best

Retention of crucial talent is the key to the continued growth and success of business that it is well worth investing the time and effort into ensuring these individuals are happy to stay put and develop within the company instead of looking elsewhere for 3.2 Staff Commitment, Competence & Development and Retention of talent

“Setting the right tone in an organization by creating a positive, humanizing environment contributes immeasurably to staff effectiveness. Creating an organizational culture in which values are clearly stated and staff are encouraged to invest in achieving the agency’s mission.” (Brody, pg 379) When taking a look at any organization we need to look at the many factors that come in to play when trying to make an organization run smoothly. Having good leadership skills is vital for the growth of any agency. “A skilled, committed, and caring staff is crucial for every productive human service organization. (Brody 91) At times employers forget that your employees are the most valuable asset within their organization, without the employee’s drive

During the recent past however, when the company became a more dominant global competitor and a publicly traded conglomerate, the numbers of employees leaving the firm have increased, generating adjacent problems of employee recruitment, training and retention. In other words, the major challenges currently faced by the company are related to talent management. At a more specific level, the issues refer to the following:

·     Balance - "Management's recognition of the importance of personal and family life remains the top driver of employee loyalty. Employees who spend a moderate amount of time each week attending to personal matters while at work have a higher level of commitment to their employer than those who spend no time." (America @ Work 1999," Aon Consulting, Chicago, Illinois; 312.701.4844) Employers who provide a work/life/family balance

Talent acquisition is defined as the “strategic approach to identifying, attracting and onboarding top talent to efficiently and effectively meet dynamic business needs” (Erickson, 2012). Talent acquisition has the unique role of ensuring job applicants not only have the right credentials for the job, but also have the right mentality for the job. In other words, the person who ultimately will be offered the job needs to ‘fit’ within the firm’s structure and culture.