Impact of Talent Management on Employee Retention in Castle Hill Fire Protection Ltd
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This research proposal aims to study the impact of talent management on employee retention in Castle Hill Fire Protection Ltd. It includes literature review, research methodology, questionnaire, outcomes, and other methods that could have been used.
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Table of Contents INTRODUCTION......................................................................................................................2 1.Question and objectives..................................................................................................2 2.Research methodology....................................................................................................2 3.Questionnaire..................................................................................................................2 4.Outcomes.........................................................................................................................2 5.How methods can help in achieving objectives..............................................................2 6.Other methods could have used......................................................................................2 CONCLUSION..........................................................................................................................2
INTRODUCTION Talent management refers to the process of attraction, retention and selection of employees across the employee life cycle. The process aims to identify the vacant positions, selecting suitable candidates and then development of these employees to attain long term organizational goals (Whysall, Owtram and Brittain, 2019). Employee retention is the process adoptedbyorganizationstopreventemployeeturnover.Effectivetalentmanagement strategies result in improved employee retention (Hafez, AbouelNeel and Elsaid, 2017). Castle Hill Fire Protection ltd is the micro company which provides application and installation of passive fire protection products. It have less than 25 working in it. It is specialised in installation of the passive fire protection systems and products for major projects in all over the UK. The report will aim to describe a question and objectives for the researchproposal.Itwillalsoprovideliteraturereview,researchmethodology,a questionnaire and its result analysis. The outcomes and other methods which could be used in the research methodology will also be discussed. 1.Question and objectives Research question: What is the impact of Talent management on employee retention in Castle Hill Fire Protection ltd? Aim: The impact of Talent management on employee retention. A study on Castle Hill Fire Protection ltd Objectives: The objectives of the research proposal are as follows: ï‚·To study the concept of Talent management ï‚·To study the concept of employee retention ï‚·To analyse the impact of Talent management on employee retention Literature review According toPanditaand Ray (2018), talentmanagementreferstothe attraction, hiring and retention of employees involving various HR processes in the employee life cycle. The purpose of the talent management processes is to
increase performances of the employees. It focus on motivating, engaging and retaining the employees in order to improve their performances. Through talent management, the companies can build sustainable competitive advantages and also outperform their competition by integrated system of talent management practices which are hard to imitate. It is regarded as a key function of human resource management in the organizations. However,Gallardo-Gallardo, Thunnissen and Scullion (2020),contrasted that, the talent management practices have evolved over the years. Now it cater to people-oriented trends such as all the aspects of the work. It has changed in fast stridesovertheyearstoo.Thetalentmanagementprocesswhichinvolves identificationoftalentgapsandvacantjobs,outsourcingandsourcingthe candidates. After that it develops the within the organizational systems and developing their skills needed and providing them training with future focus. It also worked to effectively engaging, motivating and retaining them to attain the long term and short term goals of the company. So it can be called as the process of hiring right people on-board of the company and enable them to perform their best in business. As perMa, Mayfield and Mayfield (2018), employee retention is the process of organizational abilities which helps the companies in preventing the employee turnoveri.e.numberofpeoplewholeavetheirjobseithervoluntarilyor involuntarily from the company. It is now the high priority for the leading companies today. The effective employee retention strategies in order to reduce the overall turnover and retaining them on board. It reduces the costs associated with hiring and replacing the employees who left the jobs. The companies have to keep their best employees around to thrive in the competitive environment. SimilarlyKhalid and Nawab (2018),said that, employee retention is the critical process of modern Human resource and human capital management process in every company ether small or large. High turnover can be avoided with the prior management intervention involving the effective employee retention strategies. It provide various benefits to the organizations such as cost reduction and training efficiency. It results in enhanced productivity as high retention workplaces lead the more engaged workers who are more productive. It also provides improved employee morale through fostering greater engagement and connectedness that assist in morale and boost retention.
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According toCollings, Mellahi and Cascio, (2019), the management and retention of employees in an organization is major challenge in all the sectors. The talent management strategy improves he employee recruitment and retention within organizations. The benefitsof talentmanagementinvolves employee retention and staff engagement. The talent management planning supports the organizational unity and helps in balancing the routine and work life and other factors which helps in keeping the talented employees in the organization. The employee retention improves the likelihood of employees to be in the organization for a long term and avoid short sighted decisions such as leaving the organization. SimilarlyNarayanan, Rajithakumar and Menon, (2019),said that, in recent years the organizations are facing shortage of talented employees in workplace. As the organizations are facing struggle in finding the talented employees. The talent management processes in this dilemma, helps the companies to retain their existing talented employees within the company to avoid employee turnover. Talent provides the positive impact on the company that makes the higher employee highly engaged and thus retain within the company. Through the introduction of effective talent management strategies, the companies can set themselves a strong base for success. The use of talent management strategies for these targets is the most crucial step to attain this. As per the views ofBaharin and Hanafi, (2018), talent management is the crucial vehicle which allows the companies to attain employee retention within thecompany.Aneffectivetalentmanagementcanimpacttheemployee engagement and creates a culture which produce a committed workforce. This leadstotheemployeeretentionincompany.Implementationoftalent management strategies can help in supporting on-boarding processing which enables the companies to actively engage with the employees from the day one they join the job. All this leads to the establishment of stronger employee- employer relationships in the company. 2.Research methodology The research methodology refers to the process of collection of information regarding the topic of research (Snyder, 2019). There are various methods which can help the
researcher can help in collecting data regarding talent management and employee retention. The research methodology for the current research is as follows: Research philosophy: Basically, there are two types of research philosophies such as positivism and interpretivism (Cazeaux, 2017). In the current study, positivism philosophy is will be used by the researcher. Interpretivism philosophy is beneficial as it can help the researcher in collection of data from a large sample in less time. It have disadvantage as well such as it is more time consuming and cost consuming. Research Approach:There are two research approaches of data analysis such as inductive and deductive (Alase, 2017). In the current research, the inductive approach will be used. It is more beneficial as it can help the researcher in evaluating data collected without considering additional time and resources. However it have disadvantage as it helps in only theoretical analysis of the information collected only. Research strategy: There are various research strategies available such as survey questionnaire, case study experiment etc. In the current research, survey questionnaire will be adopted by the researcher for collection of primary data. It is beneficial as it will allow the researcher to collection fresh and new data. However it can be very costly as well. Data collection:There are two types of data collection such as primary data collection and secondary data collection (Zhou and et.al., 2018). For collection of primary data questionnaire will be used. In order to gather secondary data, books, journals, magazines, publication research etc. sources will be used for literature review. It is helpful as it allows the researcher to collect data which is not been used till now. However they can be very expensive as well. For collection of secondary data books, journals, magazines, publication research etc. sources will be used. They can be beneficial as it will help the researcher in collecting data in less time and less costs. However, it can be biased and discriminated. Research sampling: It refers to the process of selecting sample from population. There are two types of sampling methods such as probability sampling and non-probability sampling (Flick, 2018). For the current study, random probability sampling will be used by considering 20 employees of Castle Hill Fire Protection ltd. It is beneficial because it provide quantitative data from larger sample and in minimum time. Non-probability sampling is not convenient within a research because it not assist in selecting of larger sample. Data analysis: Data collection is the process for analysing gathered information via research analytical techniques. This can help the researcher in interpretation of collected information from questionnaire in an effective manner.
Time scale:Time is important and integral part of research because it helps researcher in completing each activity of the study within the allotted time period. For timescale, Gantt chart will be used by the researcher. It will be beneficial as it includes starting and ending data of each activity that turn to help in completion of entire activity in given time. ActivitiesW-1W-2W-3W-4W-6W-7W-8W-9W-10W-11W-12W-13 Selection of topic Drafting of aim and objectives Secondary data collection and analysis Primary research Data analysis Interpreting Findings Drafting final proposal Approval of the proposal 3.Questionnaire 1.What is talent management from the following options in your point of view? ï‚·It is a technique to attract, retain and select employees in a company ï‚·It is the process of workforce planning for enhancing employee engagement in the workplace ï‚·It is a procedure of improving employee performances and selecting the most talented workforce ï‚·None of the above ï‚·All of the above 2.What according to you is employee retention? ï‚·Ability of company to prevent employee turnover
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ï‚·Keeping staff members in the company for long term ï‚·Strategies used to keep employees chose to stay in the current company ï‚·All of the above ï‚·None of the above 3.Whichofthefollowingstrategiesdoesthecompanyhavetosupporttalent management? ï‚·Performance evaluation ï‚·Motivation and encouragement ï‚·Feedback and reviews ï‚·Rewards and recognition ï‚·Something else 4.Is the impact of talent management on employee retention is successful in the company? ï‚·Yes ï‚·No 5.How much the talent management have influence on employee retention on a scale of 1-5? ï‚·1=strongly disagree ï‚·2=disagree ï‚·3=Neutral ï‚·4=agree ï‚·5=strongly agree 6.How can the company improve its talent management strategies for employee retention? ï‚·Motivating employees ï‚·Improving employee satisfaction ï‚·Employee rewarding and recognition ï‚·All of the above ï‚·Something else 7.What recommendations can you provide to support the talent management approaches used by the company to retain its employee?
Data analysis and result interpretation Question 1: All of the above It is a technique to attract, retain and select employees in a company5 It is a technique to attract, retain and select employees in a company2 It is a procedure of improving employee performances and selecting the most talented workforce 3 None of the above0 All of the above15 Analysis: From the above graph it can be clearly analysed that most of the respondents chose all of the above options which states that talent management is the process of attracting, retaining, selecting employees and improving performances of the talented employees. None of the respondent chose the option none of the above option. Question 2: All of the above Ability of company to prevent employee turnover1 Keeping staff members in the company for long term1 Strategies used to keep employees chose to stay in the current company 2 All of the above16 None of the above0
Analysis: From the above graph it can be analysed that most of the respondents chose the option all of the above which means that the employees believe employee retention is the ability of the company to prevent employee turnover, keep its staff a members for long term and strategy to keep employees stay in the company. None of the respondents chose the option none of the above. Question 3:Motivation and encouragement Performance evaluation3 Motivation and encouragement12 Feedback and reviews2 Rewards and recognition2 Something else1
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Analysis: From the above graph it can be clearly analysed that out of 20 respondents, 12 respondents chose the option motivation and encouragement as the process which company have to support its talent management. However, 3 chose the option performance evaluation while rest of the chose options of feedback and rewards. 1 respondent chose the option something else. Question 4: Yes Yes19 No1 Analysis:From the above graph it can be clearly analysed that talent management on employee retention is successful inCastle Hill Fire Protection as 19 respondents chose the option yes. However on respondent chose the option 1 and believes company is not successful. Question 5: 2=Agree 1=strongly disagree1 2=disagree2 3=Neutral3 4=agree10 5=strongly agree5
Analysis: From the above graph it can be clearly analysed that 10 respondents believes the influence of talent management on employee retention on the scale of 1-5 is 4= agree. However, 5 respondents chose the option 5=strongly agree. Remaining respondents chose the other options. Question 6: All of the above Motivating employees5 Improving employee satisfaction3 Employee rewarding and recognition4 All of the above7 Something else1 Analysis: From the above graph it can be clearly analysed that 7 respondents chose the option all of the above option as company uses all the provided strategies to improve the talent
management strategies for employee retention. 5 respondents chose the option motivating employees and 1 respondent chose the option something else. 4.Outcomes From the above analysis it can be concluded that the talent management have the talent management have the positive and huge influence on the employee retention in Castle Hill fire protection. Talent management is the process ofattraction, hiring and retention of employees involving various HR processes in organizations. Employee retention on the other hand refers to the critical process of modern Human resource and human capital management process in every company ether small or large. With the introduction of effective talent management strategies, various companies can set themselves a strong base for success and reduce the employee turnover and enhance its employee retention approaches. 5.How methods can help in achieving objectives Various methods such as interpretivism have helped the researcher in attaining objectives as it allowed the researcher to collect data in less time from large sample of population. The inductive approach have also helped the researcher to consider evaluation of data without additional time. Primary data has also helped in attainment of objectives as primary data has helped the researcher to collect authentic data free from biasness. Secondary data has also helped in gaining information about the impact of talent management on the employee retention in Castle Hill Fire Protection ltd. It has helped the researcher to gain previously researched data on the same topic. 6.Other methods could have used In the current research questionnaire was used to gather primary data. However, the researcher could have used the interview method for primary data collection. It would have helped the researcher in collecting data in less time. The researcher could have used only the secondary research for data collection as it would have been less costly and less time consuming as well.
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References: Books and Journals: Alase, A., 2017. The interpretative phenomenological analysis (IPA): A guide to a good qualitativeresearchapproach.InternationalJournalofEducationand Literacy Studies.5(2). pp.9-19. Baharin, N.L. and Hanafi, W.N.W., 2018. Effects of Talent Management on Employee Retention: A Case Study of Hospitality Industry.Global Business & Management Research.10(3). Cazeaux, C., 2017.Art, research, philosophy(p. 202). Taylor & Francis. Collings,D.G.,Mellahi,K.andCascio,W.F.,2019.Globaltalentmanagementand performanceinmultinationalenterprises:Amultilevelperspective.Journalof management.45(2). pp.540-566. Flick, U., 2018. Triangulation in data collection.The SAGE handbook of qualitative data collection. pp.527-544. Gallardo-Gallardo, E., Thunnissen, M. and Scullion, H., 2020. Talent management: context matters. Hafez, E., AbouelNeel, R. and Elsaid, E., 2017. An exploratory study on how talent managementaffectsemployeeretentionandjobsatisfactionforpersonnel
administrationinAinShamsUniversityEgypt.JournalofManagementand Strategy.8(4). p.1. Khalid, K. and Nawab, S., 2018. Employee participation and employee retention in view of compensationn.SAGE Open.8(4). p.2158244018810067. Ma, Q.K., Mayfield, M. and Mayfield, J., 2018. Keep them on-board! How organizations can develop employee embeddedness to increase employee retention.Development and Learning in Organizations: An International Journal. Narayanan, A., Rajithakumar, S. and Menon, M., 2019. Talent management and employee retention:Anintegrativeresearchframework.HumanResourceDevelopment Review.18(2). pp.228-247. Pandita, D. and Ray, S., 2018. Talent management and employee engagement–a meta- analysis of their impact on talent retention.Industrial and Commercial Training. Snyder,H.,2019.Literaturereviewasaresearchmethodology:Anoverviewand guidelines.Journal of business research.104. pp.333-339. Whysall, Z., Owtram, M. and Brittain, S., 2019. The new talent management challenges of Industry 4.0.Journal of Management Development. Zhou, D. and et.al., 2018. A survey on network data collection.Journal of Network and Computer Applications.116. pp.9-23.