Resourcing talent and performance management PDF

Running Head: RESOURCING TALENT AND PERFORMANCE MANAGEMENT 0
Resourcing Talent and
Performance
Management
Student Details

Resourcing Talent and Performance Management 1
Executive Summary
Resourcing and talent management are two important features for the development and
growth of an organization. Due to enhancement in Information and Communication
Technology (ICT) and globalisation, competition among organizations has increased. As
competition among organizations is increasing and it has become very difficult for the
organizations to attract new customers and retaining them has become a major concern for
the organizations. To increase the productivity of an organization, it requires higher
professionals and employees that have knowledge, skills and talent of attracting and retaining
consumers for the organization. Recruitment of such talented employees is a major task and it
requires proper strategic approaches for the organization to adopt highly resourcing and talent
management strategies. This report is discussing about the resourcing strategies and the talent
management strategies needed to hire highly qualified and talented employees for the
organization who helps in the company’s growth. As per the CPID 2017 survey report
organizations are focusing on recruitment of new highly talented people as well as on
improvement in the skills and knowledge of existing employees. For this proper resourcing
strategies and talent management strategies are given in the report. Report also contains
details about the features of national and international markets from where organizations
resource their staff. Effective performance management is necessary to achieve the goals of
an organization. In this report modern and effective ways of performance management are
given.

Resourcing Talent and Performance Management 2
Contents
Executive Summary...................................................................................................................1
Introduction................................................................................................................................4
Business Environment................................................................................................................5
Impact of Globalisation..............................................................................................................5
Global Human Resources Strategy............................................................................................6
Strategic understanding of long & short-term talent & succession planning.........................7
Succession Planning...........................................................................................................7
Recruitment of Right Employees.......................................................................................7
Pre-screening Candidate.....................................................................................................7
Checking Background Verifications and References........................................................7
Talent Management................................................................................................................8
Process of Talent Management..............................................................................................8
Talent Management strategy..................................................................................................9
Importance of Talent Management and Succession Planning...............................................9
Resourcing and Talent Management Report 2017 by CIPD......................................................9
Resourcing and Talent Practices in Current Economic and Political Climate.....................10
Major Features of National and International Employment Markets..............................11
Development and Evaluation of Resourcing and Talent Management Strategies...........12
Management of Recruitment, Selection Induction and Retention Activities...................14
Effective Performance Management Systems.................................................................15

Resourcing Talent and Performance Management 3
Strategic Resourcing Options...........................................................................................16
Conclusion................................................................................................................................17
References................................................................................................................................18

Resourcing Talent and Performance Management 4
Introduction
Resourcing people for the organization is a key feature of HRM that decides the performance
of that organization to a great extent. Resourcing and talent management are very important
for every organization as these ensures that an organization has enough talented and
competent employees that are sufficient to face and handle any kind of competition and will
manage to retain the customers for long period of time[ CITATION Arm14 \l 16393 ]. There
are two important functions of human resource, these are recruitment and retention. Both of
them need a proper strategic planning. Growth of an organization is largely dependent on
these two aspects as these can increase the rate of return. Organisations have realised the
importance of recruiting and retaining key individuals. People resourcing tell about the links
between the external context and the growth of organization and strategies of HR. Initially
management has focused on cost cutting in order to make greater profits for the organization[
CITATION McK13 \l 16393 ]. But, now organizations are more focused towards growth and
following additional methods for the growth and adapting strategies of expanding services
and products for the growth and entering new markets.
Factors that attract top talent are universal and also different from the factors that attract the
general employee population. Top talents crave for the challenging work and they search for
the opportunities to enhance their career. Today companies are facing disturbing talent
challenges. All organizations are facing a problem of sustaining a steady supply of top talents
worldwide[ CITATION Sta16 \l 16393 ]. Talent management is necessary to minimise the
effects of intense cost pressure that results from both the traditional and emerging
competitors, increasing demands of customers and new markets. Hence talent management is
considered as of strategic importance.

Resourcing Talent and Performance Management 5
Business Environment
There are two major trends that are shaping business environment; these are impact of
information and communication technologies which is referred as informatisation and
globalisation. These two factors have increased unpredictability and dynamism of business
environment. Therefore organizations are changing their HR practices and people resourcing
practices to deal with the increasing challenges[ CITATION Ile11 \l 16393 ]. Below diagram
shows the impact of globalisation and ICT on employee/people resourcing.
Source: [ CITATION Ile11 \l 16393 ]
Impact of Globalisation
Different economic, social and political phenomena are referred by globalisation.
Globalisation increases the global competition, and it questions on the survival and the
viability of the organization. Globalisation makes the organizations to push themselves to
restructure them in order to face the increasing competitive pressures[ CITATION Ile11 \l
16393 ]. ICT plays important role in increasing the effectiveness of the organization. In order