Resourcing and Talent Planni

Resourcing and Talent Planning.
Unit title(s): 5. Summative Assessment for
Resourcing and Talent Planning
(5RST/05)
Word Count 4242
Word Count 3943
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Resourcing and Talent Planning.
RESOURCING AND TALENT
PLANNING
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Resourcing and Talent Planning.
Table of Contents
TASK 1............................................................................................................................................4
1.1 Assess the contemporary Labour market in different country..............................................4
1.2 Explain how organisation position themselves in competitive labour market......................4
1.3 Explain significance of tight and loose labour market..........................................................5
1.4 Ensures the role of government, employer and trade union play in ensuring future skills
need.............................................................................................................................................5
TASK 2............................................................................................................................................6
2.1 Describe the principle of effective workforce planning and the tools .................................6
2.2 Explain Career development plan.........................................................................................6
2.3 Contribution of Career Development plan for the organisation success...............................7
2.4 Explain contribution of Job description, Person specification and competency framework 7
2.5 Explain the main legal requirement in relation to recruitment and selection........................8
2.6 Explain strength and weakness of different method of recruitment and selection................8
TASK 3............................................................................................................................................9
3.1 Employees leaving and retaining in organisation and costs associated while employees
leaving the organisation .............................................................................................................9
3.2 Strength and weaknesses of approaches for talent retention...............................................10
Flexible working hours: -..........................................................................................................12
TASK 4 .........................................................................................................................................12
4.1 With current legislation advise organisation on good practices in management of
retirements, redundancies and Dismissals.................................................................................12
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15
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Resourcing and Talent Planning.
INTRODUCTION
Resource planning is a process of allocating tasks to human and non-human resources in a way that would
maximize the efficiency of the resources. Talent planning involves assessing the organization's current level of
talent and evaluating that against the current and future talent needs of the organization necessary to achieve
its strategic and tactical objectives. This process can also be used by company to know about availability of
resources. Planning for resources and succession planning is one of the most important tasks that organization
needs to perform. Present study will lay emphasis on Marks and Spencer. Marks & Spencer Group plc is a
major British multinational retailer headquartered in Westminster, London that specializes in selling high
quality clothing, home products and food products. Present study will lay emphasis on the major
contemporary labour market trends. It explains the significance of tight and loose labour market conditions. It
assesses the strength and weakness of different method of recruitment and selection.
TASK 1
1.1 Assess the contemporary Labour market in different country
A labour market is a place where both employee and employee interact with each other for the sake of
getting the best talent from employee point of view and for getting the best job which can satisfy the need
from the employee point of view. Labour market trend is used to change depending upon the country so the
comparison between two country labour market trends is as follows:
Country which are compared are the UK and Republic of Ireland as Mark and Spencer is operated in
both the countries. In the country like UK there is good labour trend as there is only four percent of the
unemployment in the country at the same time in the Republic of the Ireland it is 5.4 percent which is also at a
good site but the employment rate at the UK is much higher than Ireland which is 75.8 as compare to Ireland
59.5 percent which proves difficult for the organisation to hire a new talent for the organisation in the Republic
of Ireland, at the same time minimum wages of the Republic of Ireland country is too high as compare to the
UK, UK minimum wage rate is 1453.28 EUR per month as compare to Republic of Ireland 1656.20 EUR which is
also reduced the scope of the company to have many workers in the organisation in both the country as the
wage rate is high of both the country. Consumer price inflation is the concept which has been in the positive
favour for the Republic of Ireland but after going about all the data it can be said that the UK labour market
trend is way better than the Republic of Ireland but Republic of Ireland is trying best to improve that in coming
years (Al-Mashari and Al-Mosheleh, 2015, April) (Minimum wage rate, 2019) (Unemployment rate, 2019).
1.2 Explain how organisation position themselves in competitive labour market
competitive labour market, where the wage rate is determined in the industry, rather than by the individual
firm, each firm is a wage taker. This means that the actual equilibrium wage will be set in the market, and the
supply of labour to the individual firm is perfectly elastic at the market rate.
Analysis the competitor: Mark and Spencer should analysis the other firm in the competitor market
and should find out the differences through which other company is able to get a success should take a
corrective action in the organisation so that the organisation is able to survive in the Competitive market.
Observation can be focused on the incentive or the wages which is offered by other company and by
evaluating the information company can implement the same in the organisation.
Organisation Positioning “as employee of your choice”: Organisation in the competitive Labour market
has to make sure that they position them self as an organisation in which employee love and desire to work as
it will decrease the problem of employee turnover and it will also help them to have a large pool of the
candidate to choose from as employee automatically will apply for the position in the organisation. Employer
can do this by creating a positive candidate experience, communicating clear value to the candidate, by
reviewing the pay and benefits and by offering the good career growth opportunity.
Employer Branding: It is the term which defines the company's reputation and popularity from a
potential employee perspective, in simple words it is the process of creating and maintaining company
reputation. In the competitive Labour market Employer Branding helps the business in showcasing the
company as a great place to work and it also creates the good name of the company in front of the employee
(Bagstad and et.al., 2017).
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