TASK 13 P1. Current labour market trends that influence talent management and workforce planning

Resource
And
Talent Planning

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1. Analyse current labour market trends that influence talent management and workforce
planning. .....................................................................................................................................3
P2. Different legal requirements an organization take into consideration while workforce
planning.......................................................................................................................................5
TASK 2............................................................................................................................................6
P3. Current and anticipated skills requirements in organizational context.................................6
TASK 3............................................................................................................................................8
P4. Appropriate illustration of job description and person specification....................................8
P5. Application of different recruitment and selection methods for effective talent resourcing
and planning................................................................................................................................9
TASK 4..........................................................................................................................................10
P7. Evaluation of integration of Stages of HR life-cycle within organizational HR strategy.. 11
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
Resource and talent planning is a vital function of various aspects ranging from analysing
the requirement of human resource, creating network and choosing appropriate hiring channel,
recruiting best and potential employees, maintaining labour pool for future recruitment and many
more. In other words, the main function is to identify and attract key talent from the market who
are capable to create competitive advantage and help entity to achieve its goals viz. Short term
and long term (Armstrong and Taylor, 2014). The chosen company in this report is Argos Ltd. It
is a British catalogue retailer in United Kingdom and Ireland having its headquarters at
Buckinghamshire, England. Further, this report covers current labour market trend, different
legal requirements for workforce planning, evaluation of different processes and methods of
recruitment and selection and HR life cycle together with HR strategy.
TASK 1
P1. Analyse current labour market trends that influence talent management and workforce
planning.
HR is an important department that formulates various plans and policies for people
working in the organization. The strategies prepared and implemented by HR has objectives to
combine organization's culture, employees and system by synchronizing the various actions in
order to get desired goals of company. It must be aligned with mission, vision and goals of the
entity. Also, these are necessary to resolve and maintain a healthy and good work environment.
Talent management is the continuous process of HR to attract, develop, motivate and retain best
and potential employees. Argos must use this strategy to employ potential human resource,
increase their knowledge and skills by providing training, give them professional development
opportunities and retain high-performing manpower (Church and Silzer, 2013).
Workforce planning is a core systematic business activity to implement changes in
strategies so that employees can be engaged in modified environment. It provides a more stable
way to understand market and industry challenges and issues so that long-term changes can be
made for competitive advantage and sustainability.
The impact of systematic approach to strategic HRM and resourcing of talent:
Strategic approach to HRM contains a set of actions that are carried for effective
management of human resources. It follows a system that starts from talent resources which

includes preparation of job description, creating opportunities, performance appraisal and
effective selection processes. The motive behind this is to get the right person for the right job.
Argos should develop a fine co-ordination between all these in order to have high performing
employees for gaining competitive advantage.
A company must analyse market trends before the formulation of policies. Labour market
means the platform or place where employers and employee can interact with each other. It
depends greatly on the jobs rate in domestic market as well as global trend of employment.
Economic composition and its impact on HR processes
An organization is a part of economy, that conducts its business by complying with and
adopting economical changes. UK's economy has been fluctuating due to financial crisis and
now due to BREXIT (Dessler, 2013). These affects entities operating in an economy. Level of
employment greatly influence overall objectives of a company. Therefore, an economy is
required to be stable for gaining competitive advantage. Argos may adopt strategies and make
changes as per the industry changes to hire required workforce who will be capable to attain its
objectives.
Impact of Demographics
The study of population on the basis of age, race and sex is known as demographics.
These changes impact on the innovation, agility, flexibility in the workplace and performance of
employees. There is a interlink between labour demand, supply and productivity. If the
proportion of old people is more than young ones then it is a matter of concern as older people
tend to have poor memory and skills. The problem in UK market is that population rate has been
reduced in the past years which has affected employment adversely. HR department of Argos
will face hurdle in hiring efficient employees due to the this.
Political composition and social trends
The companies are becoming ethical by implementing corporate governance practices as
employees look for opportunities to work an ethical company. Also, government imposes
enhance rules and regulations to control companies and protect the investors. The domestic
power in UK has provided a stable per capita income which made it easy for the companies like
Argos to conduct its business smoothly (Gold and et. Al., 2013). One of the current social trend
is that women are participating more and more in various activities. A country blessed with
higher population provides better chances to companies to hire best employees. On the contrary,