Assignment on Brightstar Financial
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Added on 2021-07-09
Assignment on Brightstar Financial
Added on 2021-07-09
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1.0 Introduction...........................................................................................................................................41.1 About Brightstar Financial.................................................................................................................41.2 Statement of the Problem...................................................................................................................51.3 Research Aim....................................................................................................................................51.4 Research Objective............................................................................................................................51.5 Questions of the Research..................................................................................................................52.0 Literature Review..................................................................................................................................62.1 Career Advancement and Growth perspective...................................................................................62.2 Talent Management system (Technology).........................................................................................62.3 Training & Development...................................................................................................................72.4 Compensation &Recognition.............................................................................................................73.0 Research Methodology..........................................................................................................................73.1 Research Philosophies.......................................................................................................................73.2 Research Approach............................................................................................................................73.3 Qualitative and Quantitative Methods...............................................................................................83.4 Primary and Secondary Data Source.................................................................................................83.5 Data Collection..................................................................................................................................93.6 Sample Size.......................................................................................................................................93.7 Timeline............................................................................................................................................94.0 Data Analysis and Findings.................................................................................................................104.1 Findings...........................................................................................................................................115.0 Discussion...........................................................................................................................................156.0 Conclusion...........................................................................................................................................157.0 Recommendations...............................................................................................................................168.0 Research Limitations...........................................................................................................................169.0 Communicating Research Outcomes...................................................................................................1710.0 Reflection..........................................................................................................................................2210.1 Alternative Research Methodology...............................................................................................23References.................................................................................................................................................2412.0 Appendix...........................................................................................................................................25
Executive SummaryTalent management is not simply a basic word for human resources. It also engages in hiring,managing, developing and retaining the industry's most skilled and outstanding staff. Talentacquisition is an integral part of the corporate plan since it handles one of its importantproperties, the staff.Management must handle people and the workforce by proactive resourcemanagement to properly manage, coordinate, and prepare for organisational goals. Morecomplicated and important challenges can be addressed by various HR tasks, with more preciseand consistent results. In this respect, organisations and managers should emphasise better-overseeing talent acquisition in the workplace to ensure that there are no gaps that could affectthe workforce's competitiveness and efficiency. That is why, in order to ensure a better workingexperience, companies are now placing greater focus on talent management. This paper willevaluate the effective application of better Human Resource practices to utilise and nourish itsemployees' top talent in Brightstar Financial Company, UK.
1.0 Introduction An organisation's dedication to attract, train, maintain and cultivate the most skilled and superiorstaff available on the job market is known as talent management. When it comes to describing anorganization's approach to hiring, managing, developing, and retaining skilled employees, talentacquisition is an appropriate word(Bluen, 2013). It includes all job processes and systemsrelated to maintaining and growing a top-notch workforce. Organizations expect that byimplementing a talent acquisition plan, they will attract their most creative and professional staff.The specified management plan, much like employee engagement or employee appreciation, willensure the recruitment of top talent in a competitive market.Brightstar, which was created in2011, was an enthusiastic supporter of the Women in Finance Charter and has since served as atrendsetter and spokesperson for the cause. It is still a trailblazer when it comes to raisingconcerns about staff wellbeing and mental health problems. As part of its Mental Health ActionPlan, the company established a Wellbeing Room in 2017(Hatum, 2014). This project isconducted in the context of the organisational level of Brightstar Financial Company’s talentmanagement process. The report will be focused on a chosen company based on the idea, and thechosen company is Brightstar Financial. With the help of study questions, and a formalquestionnaire, a thorough analysis of the literature will be conducted. The results will beanalysed using both primary and secondary evidence. Following that, a decision would be madedepending on the findings. A reflection will be addressed to assess the research method'sfeasibility and develop an alternative research approach for this article.1.1 About Brightstar Financial Brightstar Financial is a financial distribution company that specializes in home mortgages andlater-life loans. The three founding directors started the company in a 'broom cupboard' office,and it has since grown to become one of the best in its field in the UK. Brightstar currently hasover 50 staff in three locations across the United Kingdom(Brightstar Financial Have achieved a3-star accreditation from Best Companies, 2021). It is founded on solid core principles and takespride in being a team that works together and succeeds together.
Brightstar's loyalty to workers is at the topmost priority. As a result, they strive to build awelcoming and tolerant community in which everyone can prosper. They recognize that theirworkers are their most valued commodity. They love and admire them for their uniqueness anddesires while ensuring that all team members are supported at any stage of their professional andpersonal lives.1.2 Statement of the ProblemIn Brightstar Finance, talent management is one of the core activity of the HR department. Thatis why this research paper will evaluate how Brightstar Finance can ensure the effectiveapplication of better Human Resource practices to utilise and nourish its employees' top talent.1.3 Research AimThe research aims to determine the relevant Human Resource Strategies that Brightstar Financialundertakes for effective talent management.1.4 Research Objective1.Promoting tools and techniques for innovation and creativity among the employees ofBrightstar Financial 2.Identifying employee’s motivation towards involving them in promotional activities ofBrightstar Financial 3.Identifying future organisational plan for improved innovation and creativity skillsamong employees of Brightstar Financial. 4.Identifying the planning and organisational skills development tools to ensure talentmanagement in Brightstar Financial5. Identifying the training and development strategies in Brightstar for ensuring effectivetalent management. 1.5 Questions of the Research How will the HRM department of Brightstar financial ensure the effective application of betterHuman Resource practices to utilise and nourish its employees' top talent?
2.0 Literature ReviewTalent management, as done creatively, derives from the mission of the organization, vision,principles, and priorities. This helps any employee to see where they fit inside the organisation.In turn, this enables employees to be involved in the company's overall management (Sen, 2019).A strong talent management system helps important employees, from a strategic point of view, tofeel they are part of something greater than their current job. The basic talent managementactivities are:Creatingstraightforward job requirements so that employers know a potential employee'stalents, ability, and experience.Choosingsuitable staff with the appropriate hiring procedure who have a superiorpropensity and suit the ethos of the company.Negotiatingsuccess expectations, results and measures within a performance growthplanning framework focused on criteria and achievement.Undertakingregular meetings on performance growth that draw on employee jobdevelopment interests. Other than these any company should involve the following methods to establish an effectivetalent management and create a healthy work environment.2.1 Career Advancement and Growth perspectiveDeveloping a talent management that provides promotional and career developmentopportunities for its workforce that include on the job training opportunities, successionplanning, career path opportunities, job rotation, job enrichment etc.(Taylor and Lee, 2019).2.2 Talent Management system (Technology)Introducing technology in the talent management can be another wonderful way to effectivelypractice HR activities. An advanced software solution covering the entire spectrum of talentacquisition, such as: recruiting and staffing employees, performance management, knowledgemanagement, salary management and succession planning is an integrated and strategictalentmanagement system.
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