Resourcing and Talent Planning Assignment

Added on - 21 Feb 2021

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RESOURCING ANDTALENT PLANNING
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Asses the contemporary Labour market in different country................................................31.2 Explain how organisation position themselves in competitive labour market......................41.3 Explain significance of tight and loose labour market..........................................................41.4 Ensures the role of government, employer and trade union play in ensuring future skillsneed.............................................................................................................................................5TASK 2............................................................................................................................................62.1 Describe the principle of effective workforce planning and the tools.................................62.2 Explain Career development plan.........................................................................................62.3 Contribution of Career Development plan for the organisation success...............................72.4 Explain contribution of Job description, Person specification and competency framework82.5 Explain the main legal requirement in relation to recruitment and selection........................92.6 Explain strength and weakness of different method of recruitment and selection................9TASK 3..........................................................................................................................................103.1 Employees leaving and retaining in organisation and costs associated while employeesleaving the organisation...........................................................................................................103.2 Strength and weaknesses of approaches for talent retention...............................................11Flexible working hours:-...........................................................................................................12TASK 4.........................................................................................................................................124.1 With current legislation advise organisation on good practices in management ofretirements, redundancies and Dismissals.................................................................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONResource planningis a process of allocating tasks to human and non-humanresourcesin away that would maximize the efficiency of theresources. Talent planning involves assessing theorganization's current level of talent and evaluating that against the current and future talentneeds of the organization necessary to achieve its strategic and tactical objectives. This processcan also be used by company to know about availability of resources. Planning for resources andsuccession 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 majorBritish multinational retailer headquartered in Westminster, London that specializes in sellinghigh quality clothing, home products and food products. Present study will lay emphasis on themajor contemporary labour market trends. It explains the significance of tight and loose labourmarket conditions. It assesses the strength and weakness of different method of recruitment andselection.TASK 11.1 Assess the contemporary Labour market in different countryA labour market is a place where both employee and employee interact with each other forthe sake of getting the best talent from employee point of view and for getting the best job whichcan satisfy the need from the employee point of view. Labour market trend is used to changedepending upon the country so the comparison between two country labour market trends is asfollows:Country which are compared are the UK and Republic of Ireland as Mark and Spencer isoperated in both the countries. In the country like UK there is good labour trend as there is onlyfour percent of the unemployment in the country at the same time in the Republic of the Irelandit is 5.4 percent which is also at a good site but the employment rate at the UK is much higherthan Ireland which is 75.8 as compare to Ireland 59.5 percent which proves difficult for theorganisation to hire a new talent for the organisation in the Republic of Ireland, at the same timeminimum wages of the Republic of Ireland country is too high as compare to the UK, UKminimum wage rate is 1453.28 EUR per month as compare to Republic of Ireland 1656.20 EURwhich is also reduced the scope of the company to have many workers in the organisation in boththe country as the wage rate is high of both the country. Consumer price inflation is the conceptwhich has been in the positive favour for the Republic of Ireland but after going about all the3
data it can be said that the UK labour market trend is way better than the Republic of Ireland butRepublic 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 marketcompetitive labour market, where the wage rate is determined in the industry, rather than by theindividual firm, each firm is a wage taker. This means that the actual equilibrium wage will beset in the market, and the supply of labour to the individual firm is perfectly elastic at the marketrate.Analysis the competitor:Mark and Spencer should analysis the other firm in thecompetitor market and should find out the differences through which other company is able toget a success should take a corrective action in the organisation so that the organisation is able tosurvive in the Competitive market. Observation can be focused on the incentive or the wageswhich is offered by other company and by evaluating the information company can implementthe same in the organisation.Organisation Positioning “as employee of your choice”:Organisation in the competitiveLabour market has to make sure that they position them self as an organisation in whichemployee love and desire to work as it will decrease the problem of employee turnover and itwill also help them to have a large pool of the candidate to choose from as employeeautomatically will apply for the position in the organisation. Employer can do this by creating apositive candidate experience, communicating clear value to the candidate, by reviewing the payand benefits and by offering the good career growth opportunity.Employer Branding:It is the term which defines the company's reputation and popularityfrom a potential employee perspective, in simple words it is the process of creating andmaintaining company reputation. In the competitive Labour market Employer Branding helps thebusiness in showcasing the company as a great place to work and it also creates the good nameof the company in front of the employee(Bagstad and et.al., 2017).1.3 Explain significance of tight and loose labour marketTight Labour MarketIt is the situation of the market in which economy is at the position of reaching the fullemployment mark and it is getting difficult to recruit the new employee in the organisationwhich eventually resulting in increasing the wages in the economy. Tight Labour market is4
always offers a tough challenge to the organisation but it also helps the business indiscriminating the competition in the market as in the tight Labour every organisation is not ableto attract the customer which helps the big firm like Mark and Spencer to recruit the best talentavailable in the market which eventually increase their cost but the skill brought by the employeecan be beneficial for the organisation. Tight Labour market also helps the organisation inincreasing the efficiency of already hired employee as in the Tight Labour market organisationprovides the training to the old employee to better their skill so that they do not need to hire newemployee(Costa and et.al., 2016).Loose Labour MarketIt is the situation in which economy is at the position where the number of job in thecountry is not able to satisfy the number of job seekers in the country, which eventually rises theunemployment in the organisation. Loose labour market helps the employer in getting good poolof the candidate who are looking for the job and which helps the employee in selecting the bestout of that pool. Loose labour Market helps the employer in getting the best talent in theorganisation at a lower wage as in the Loose market wage rate is low and it also helps theemployer in prevailing the employee for longer period as in this employee generally does notleave the job more frequently.After going through above information, it can be said that UK has Tight labour market whereasRepublic of Ireland has loose capital market.1.4 Ensures the role of government, employer and trade union play in ensuring future skills needGovernmentin the UK and Republic of Ireland plays a crucial role in ensuring that thefuture skill needs are met in the country as Government both countries promote the awareness ofthe skill set which is good for the development of the individual in the future. Governmentprovides the information to the citizen and individual about the benefit which the skills can bringto them and also Government also Funded the many training program in the UK so that theemployee can get the knowledge about the same at a lower rate as a result many employees hastaken part in that and which has helped the Country in past also and will definitely help in thefuture(Dickens, 2019).Employeris the one who plays the most important role as the employer are the one whotries to be one step ahead of the current position it helps them in observing the need of the skillbeforehand itself which force the employer to make a change in the policy and also employer5
organize the different meeting and the training program to taught the employee about the need ofthe skill and in the training employee are able to adopt the same skill which helps them inmeeting the future need.Trade Unionalways play a crucial role in supporting fresh and new employees in theworkplace which helps the employee in feeling motivated in the organisation which helps themin understanding the skills more proficiently. Union trade also organizes free and low costtraining program to the employee so that they are able to learn the new skills in the organisation.TASK 22.1 Describe the principle of effective workforce planning and the toolsPrinciplesThere are mainly two type of principles for effective work force planning which is performed inthe organisation(Harper and et.al., 2017).Capacity-It is the principle in which organisation is used to see long term view and forecast ofthe critical roles which will be needed by the organisation in the future it is the principle whichlooks more on the future happening than the current situation.Diversity- This principle also influences the organisation in looking at the performance of theemployee in the organisation and on the basis of that training are given to them to handle thefuture difficulties and also corrective action are taken to prevail the employee in the organisation.It is the principle in which short term demand of the business is considered and the currentsituation of the organisation is observed in determining whether more man power is needed ornot in the organisation. This principle forces the employee to identify the need and competenciesin context to the current industry or market situationToolsBusiness Objective:This is the tool which explain that the business objective and goalsshould be clearly define to the employee so that employee feel clarity of the mind in theorganisation which eventually creates the good working environment in the organisation whichhelps the organisation in effective workforce planning.Workforce Gap:As the workforce include many individuals with different caste andbackground which creates the gap between the employee, organisation always try to cut downthe gap between them so that they can prevail the employee for the longer period(Loucks andVan Beek, 2017).6
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