Talent Management: Advantages, Performance Management, Employee Engagement

Talent Management

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Discuss and evaluate the advantages for Star Co. In developing their own HR function......3
TAKS 2............................................................................................................................................4
Role of Performance management system.............................................................................4
Identify and discuss the most appropriate performance appraisal system that can be
implemented by Star Co.........................................................................................................5
TASK 3............................................................................................................................................5
Explain how a performance management system can be used to improve employee
commitment and engagement at Star Co,...............................................................................5
Identify the challenges they may face using this system and propose how these can be
overcome or managed.............................................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Talent management is a procedure through which Organisation attract, develop, motivate, on
board and retain top talent. The main motive of talent management team is to improve the
performance of business and employees so that they can give their productive outcomes. It is a
process through which company can retain and attract high quality of employees by developing
their skills and improving performance (Shulga and Busser, 2019). The Components of talent
management are strategic employee planning, talent acquisition and retention, learning and
motivating, career development, performance management, succession planning and
compensation. The importance of talent management in an organisation is to make workers feel
engaged and motivated towards the work (Eichinger, 2018). The report is based on the talent
management which includes the advantages of company in developing their own HR Function,
role of performance management system, the most appropriate performance appraisal system that
can be implemented by Organisation, how performance appraisal system can be used in order to
improve the employee commitment and engagement in firm and identifying the challenges that
can be used by the firm and how it can be overcome is discussed. The Chosen Organisation for
conducting this project is Star Co. which is small manufacturing company which is run by
owner-manager and having employees around 85.
TASK 1
Discuss and evaluate the advantages for Star Co. In developing their own HR function
There are many HR functions which can be developed by Star Co. through which they can
gain advantages. The Human resource function includes recruitment and selection, performance
management, training and development, compensation & benefits, engagement and open
communication and matching company needs with employee expectation. When HR of Star Co.
performs various functions in Organisation they can motivate and boost the morale of employees
(Sparrow and et. al., 2018). The human resource function helps in developing new skills, attitude
and knowledge of employees. As Star Co. has mostly non-English speaking background
employees so by organising learning and development programs for their staff they can enhance
their skills and knowledge through which they can learn some new things and implement while
working. It helps in increasing the performance of business and workers. If Star Co. develops
compensation and benefits function in their organisation it helps in boosting confidence and