Talent Management Strategies for Successful Business
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This article discusses the importance of talent management in achieving business goals and objectives. It explores the roles played by talent management, the challenges faced by HR, and the research methods for conducting a business research project. The case study focuses on Crowne Plaza, an international chain of hotels in the UK.
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Table of Contents TITLE: Talent management as a strategic priority..........................................................................3 INTRODUCTION..........................................................................................................................3 P1) Produce a research proposal that clearly defines a research question or hypothesis supported by a literature review.................................................................................................3 Research Aim:.............................................................................................................................3 Research Objectives:...................................................................................................................3 Research Questions:....................................................................................................................3 LITERATURE REVIEW................................................................................................................4 Roles played by Talent management for achievement of desired organisation goals and objectives....................................................................................................................................4 Importance of Talent Management.............................................................................................4 Challenges faced by HR management of the business firm with Talent Management..............5 P2)Examineappropriateresearchmethodsandapproachestoprimaryandsecondary research.......................................................................................................................................5 TASK 2............................................................................................................................................6 P3) Conduct primary and secondary research by utilising suitable approaches for business research project that considers cost access and ethical issues....................................................6 P4) Utilize proper analytical tools and analyse data obtained from the research....................8 TASK 3.........................................................................................................................................10 P5) Communicate research outcomes for the supposed audience............................................10 TASK 4........................................................................................................................................11 P6) Reflect on usefulness of research method used for achieving the objectives of research project.......................................................................................................................................11 P7) Consider alternate research methodologies and lessons learnt in the view of obtained results........................................................................................................................................11 CONCLUSION...........................................................................................................................11 REFRENCES................................................................................................................................12
TITLE:To evaluate importance of talent management of the business firm towards it's effective attainment of desired goals and objectives. Case study on Crowne Plaza INTRODUCTION Talent management refers to process of allocation of valuable resources of the business firm at right place. It ensures better working of an organisation by retaining high quality employees in the workforce and providing them with good working environment with timely appraisals for keeping them motivated for effective conduction of respective activities of the business firm. With lights to fact that a huge chunk of financial resources is been separated by management of business firm in recruiting function of company. Talent management of a company ensures better utilisations of valuable resources of the company avoiding any wastage of efforts as well. This report will conduct research on Crowne Plaza. It is an international chain of hotel of UK. The upper management system of business firm effectively manages talent resources in their working structure which helps firm in accomplishment of desired goals and objectives effectively. With addition to it they formulates effective strategies which helps in shaping valuable efforts been produced in a business firm towards productivity and growth of the firm. P1)Produce a research proposal that clearly defines a research question or hypothesis supported by a literature review. Research Aim: To evaluate importance of talent management of the business firm towards it's effective attainment of desired goals and objectives. Research Objectives: ï‚·To study role of Talent Management for driving organisational performance. ï‚·To examine importance of Talent Management in selected company. ï‚·To propose challenges faced by HR with Talent Management. Research Questions: ï‚·WhatarethevariousrolesplayedbyTalentManagementforachievementof organisational desired goals and objectives?
ï‚·What is the importance of Talent Management in concerned organisation? ï‚·What are the current issues in Talent Management? LITERATURE REVIEW RolesplayedbyTalentmanagementforachievementofdesiredorganisationgoalsand objectives. According Bettelley, in order to produce productivity towards respective goals and objectives of company, staffs with high potential and flexible in nature are required. By analysing business environment of UK, for about more then 8 out of 10 HR managers from various firms across the nation believed important role and scope of improvement of talent management in their organisation for companies success. With regards to chosen organisation i.e. Crowne Plaza, it can be said that initiative for improvement in their talent management systems is already been started with a view point of effectively conduction of their business activities aiming towards business growth (UK businesses need to focus on talent management, 2017). Various roles played by Talent Management towards achievement of firm's objectives are as follows: Allocationof Resources:TalentManagementinabusinessfirmhelpsinproper allocation of valuable resources of the business firm. It includes right person for right job. It promotes better productivity of efforts been produced in a firm, ensuring better growth of the business organisation. Retaining Talented Employees:It helps in retaining ex employees of the firm. As it is very well known that huge cost is been involved in training and selection process of business firm. Hence another role of talent management contributes towards saving up of valuable resources of the company that could be used in any other area for it's better development. Importance of Talent Management. In words of Momtazian, talent management is to be included in every business HR management. Their importance is not only limited in using valuable resources of the firm in effective way but also helps in serving as a motivational tools to respective employees and also enables firm to build it's better brand image in given marketplace (What is Talent Management and Why is It Important?). Management ofCrowne Plaza have adopted talent management because of it's following importance which are as follows:
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Attracts best talent:It helps in attracting best talent to fill up vacant job profile in the company. It includes appraisal approaches and formulate flexible working environment for delivering best productivity of the workforce. Boosts employees performance:It emphasis on providing with motivational techniques to companies staffs. It provides them with timely bonuses and good salary packages that leads to boosting up of employees performance and ultimately contributes towards better growth of the organisation. Challenges faced by HR management of the business firm with Talent Management. AccordingtoFlesher, strongtalent-managementof thebusinessfirmisnotonly determined by hiring right staffs at right time but also contributes towards simplification of companies operational activities (4 Problems a Strong Talent Management System Can Solve). Various challenges faced when dealing with talent-management are as follows: Time:There is always a shortage of time as a resource for recruiters as well as candidates. As talent management focuses on recruitment of talented employees and searches for top talent candidates for vacant job profile. It faces great deal of issues while dealing with top candidates as to matter of fact that hiring managers as well as top candidates are both busy. Basic Applicant Tracking:Due to constant development of it becomes hard to keep track on latest technologies which puts firm at competitive disadvantage and also is a challenge for effective talent management of the business firm. P2)Examine appropriate research methods and approaches to primary and secondary research. RESEARCH METHODOLOGY Kinds of study:This study involves two kinds of methodologies which are qualitative and quantitative. Quantitative report consists of denotative and statistical outcomes(Cappelli and Keller, 2017). Quantitative research is used in this report as it gives accurate data in numbers which is easy to interpret. Qualitative research involves descriptions on various subjects and is not used in this report due to time consuming nature. Sources of information:Primary and secondary are two kinds of data sources used for conducting research. Primary data is gathered directlyfrom the sources through surveys questionnairesandinterviewswhilesecondarydataisobtainedfromalreadyexisting information such as journals and articles. This research uses both kinds of sources to gather information about talent management.
Sampling:Sampling refers to part of a demographic selected for conducting research. There are two kinds of sampling practices namely probability and non-probability sampling. As a group of 40 employees is selected at random for this research, probability technique is effective for conducting accurate research in limited time. Gathering information:Questionnaire, surveys, interviews and focus groups are some of the instruments used for gathering information for research project. This research includes construction of questionnaire for 40 employees of the crowne plaza hotel related to the mentioned subject. This is because questionnaire is cost effective and less time taking(Deif, and Van Beek, 2019). Analysisofinformation:Thisisanimportantelementofresearchasitinvolves interpretation of data by using tools such as coding, typology content analysis and many more. Content analysis is used in this report for analysing information correctly. Ethics:This refers to various moral values adopted by the researcher in order to conduct research properly. The researcher is required to adopt various principles such as maintaining namelessness of respondersusage of data with consent of responders and many others. This helps the researcher complete their project without compromising on moral duties and obtain effective results in structured manner(Ford, 2017). Reliability:Thisisanotherpracticeofresearchmethodologyassociatedwith questionnaire which helps the researcher check validity and reliability of the results. Cost access and ethical issues:Financial investment helps the researcher complete their research decently and systematically in limited time. Monetary resource also help in conducting primary and researcher effectively in limited time. Researcher needs to check accessibility to various resources beforehand as it helps in conducting the research systematically and swiftly. Maintenanceofethicalandmoralvalueshelpscompleteresearchauthenticallywithout endangering private information of the responders(Guinan, Parise and Langowitz, 2019). TASK 2 P3) Conduct primary and secondary research by utilising suitable approaches for business research project that considers cost access and ethical issues Cost
Questionnaire is a suitable method for conducting primary research. Questionnaire includes set of questions which aim to gather data from the responder. This method of conducting primary research is affordable in comparison to other methods as it provides huge amount of data from a large group of responders at relatively lower costs. The total cost for conducting primary research through the use of Questionnaire was£500. This included the cost ofbuildingclearquestionnaire,distributionofquestionnaireamongtargetgroupsand interpreting the answers from responders to gain useful data(Metcalfe, Makarem and Afiouni, 2020). Online articles are an appropriate source for conducting effective secondary research. This method is cost effective as most articles on the internet are available for free or at negligible fee. The online article used in this research is free of cost. The article provided valuable information and insight from experts in the field without any monetary investment. This is a suitable method for conducting research as it reduced the total cost of this research by huge amount. Accessibility Questionnaire includes identification of target audience for the research and inviting them to participate in answering each part of the questionnaire. Completing questionnaires is not time consuming which allows large groups of responders to participate in the questionnaire at the same time. Questionnaires are accessible as data gathered directly from the target responders is highly reliable and helps in constructing accurate and precise research. This also reduces presence irrelevant data in the research(Paranosic, and Riveros, 2017). Online articles are highly accessible to every individual with an internet connection. Information available in such articles can be easily cross checked for authenticity which allows the researcher to find the most reliable and authentic source for their secondary research. Irrelevant content and propaganda is easily identified in this method which improves the quality of research. Ethical issues The main ethical issues related to questionnaires include taking consent from the responders about using their data. Private data of all the responders gathered during primary research is kept classified(Tafti, Mahmoudsalehi and Amiri,2017). Disclosing such sensitive data is not possible without consent of each responder as it reveals personnel information and
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opinionsoftheresponders.Sharingsuchdatawithotherindividualswithoutreceiving permission fro responder is another ethical issue. This is resolved by keeping data gathered is research restricted from outside usage(Taylor, 2018). The moral issue in context of using online articles as source for conducting secondary research includesidentificationof propagandaor false informationin variousarticlesto eliminate possibility of prejudiced information or incorrect data being used in this research. P4) Utilize proper analytical tools and analyse data obtained from the research Questionnaire Q1) Are you aware about the theories and notions associated with talent management? a) Yes b) No Q2) What are various methods for talent management which can be utilised for improving talent management procedure in the hospitality industry? a) Constructing detailed job titles b) Regular evaluation of employee output c) Targeted hiring procedure d) Suitable reward system Q3)Whatareprimaryadvantageousofeffectivetalentmanagementprocedureonthe workforce? a) Improved employee encouragement b) Continuous development of workforce c) Increased satisfaction of workers d) Improved interactions with managers Q4) Do you think that talent management procedure is able to increase overall output of your establishment? a) Yes b) No Q5) Please offer suitable suggestions to your company for increasing retention of talented employees by utilising various talent management approaches. Theme 1: Understanding of talent management
Q1) Are you aware about the theories and notions associated with talent management? Frequency a) Yes28 b) No12 Interpretation:From the above graph it is evaluated that out of 40 employees, 28 know about talent management with an understanding of various theories and notions associated with it. Workers understand common practices of talent management within the hospitality industry. Supervisors need to take responsibility of informing 12 employees about talent management as they don't have any previous knowledge about the topic. Theme 2: Various talent management methods which can be utilised in the hospitality industry Q2) What are various methods for talent management which can be utilised for improving talent management procedure in the hospitality industry? Frequency a) Constructing detailed job titles7 b) Regular evaluation of employee output17 a) Yesb) No 0 5 10 15 20 25 3028 12Column B
c) Targeted hiring procedure7 d) Suitable reward system9 Interpretation:From the evaluation of the above graph, it is determined that various talent management methods are used by organisations to reduce turnover rates and build talented workforce. 7 out of 40 workers understand that construction of detailed job titles is an effective talent management method used by corporations to attract competent employees. Regular evaluation of employees is effective talent management process according to 17 workers. In addition to this, 7 employees have understand that targeted hiring procedure helps in the construction of talented workforce. According to 9 employees providing construction of reward systems is helpful increasing talent of staff members. a) Constructing detailed job titles b) Regular evaluation of employee output c) Targeted hiring procedure d) Suitable reward system 0 2 4 6 8 10 12 14 16 18 7 17 7 9 Column B
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Theme 3: Primary advantages of talent management Q3)Whatareprimaryadvantageousofeffectivetalentmanagement procedure on the workforce? Frequency a) Improved employee encouragement12 b) Continuous development of workforce5 c) Increased satisfaction of workers15 d) Improved interactions with managers8 Interpretation:Talent management gives enterprises various advantages which help the company secure beneficial position in the industry. According to 12 employees improved employee encouragement is a chief advantage of talent management. Out of 40 responders, 5 participants believe continuous development of the workforce to be primary advantage of talent management . 15 employees said that increase in employee satisfaction is main advantage of a) Improved employee encouragement b) Continuous development of workforce c) Increased satisfaction of workers d) Improved interactions with managers 0 2 4 6 8 10 12 14 16 12 5 15 8 Column B
talentmanagement.Remaining8employeesunderstandthatimprovedinteractionwith managers is merit of talent management. Theme 4: Impact of talent management Q4)Do you think that talent management procedure is able to increase overall output of your establishment? Frequency a) Yes25 b) No15 Interpretation:Talent management plays a significant part in improving overall output of the workforce and helping the company achieve organisational objectivesswiftly and effectively. Out of 40 workers, 25 accept the statement that talent management is helping increase overall output of the firm while 15 staff members differ with this statement. a) Yesb) No 0 5 10 15 20 25 30 25 15 Column B
TASK 3 P5) Communicate research outcomes for the supposed audience Stakeholders :In this research project, stakeholders have a vital part in the effective completion of this project. Several of such stakeholders include government authorities, workers, administration members and other related individuals. They are an important element of this research project. 40 employees from the British hotel chainCrowne Plaza were taken as responders in this research activity( Vaiman, Collings and Scullion, 2017). Communicationofresearchresults:Variousmethodsareusedforeffectively communicating results of research project. This includes verbal communication or non verbal communication through presentation or written document. For this report there is no requirement to assist developing information by using written documents as communication method for communicating result obtained from present report . Credible statement:This report is based on the hospitality industry in which the British hotel Crowne Plaza is selected to effectively evaluate usage of strategic practices in the establishment. Usage of talent management procedure helps the company decrease employee turnover and achieve various organisational objectives(Woo, O'Boyle and Spector, 2017). TASK 4 P6) Reflect on usefulness of research method used for achieving the objectives of research project It can be stated from the above report that I was able to gather profound knowledge and methods related to talent management. I faced various obstacles such as completing accurate report which included four objectives in short amount of time. I improved my communication abilities in order to complete the research work with accuracy and precise content. I adopted various ethical responsibilities during this project. I used relevant information obtained from answers provided by the responders in questionnaire. This was time consuming research method but it gave me accurate results(Collings, Mellahi and Cascio, 2017). P7) Consider alternate research methodologies and lessons learnt in the view of obtained results Interview is another method for conducting primary research which involves gathering data from the responder by asking open ended or close ended questions. This method is useful for gathering relevant and profound information about complicated issues. This method requires
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high labour and financial investment as it involves asking questions to each responder so that opinion and viewpoints of every responder is analysed . This helps formulate precise and flawless research. CONCLUSION From the above report it is analysed that an enterprise faces various issues such as ineffective leadership, worthless selection process and many others during management of workforce. Removal of such issues is necessary for improving overall output of the company and proper management of workforce. The chief objective of talent management is to retain talented employees and help the company construct skilled workforce. REFRENCES Books and Journals Cappelli and Keller, 2017. The historical context of talent management.The Oxford handbook of talent management, pp.23-42. Collings,Mellahi and Cascio, 2017.The Oxford handbook of talent management. Oxford University Press. Deif, and Van Beek, 2019. National culture insights on manufacturing competitiveness and talent management relationship.Journal of Manufacturing Technology Management. Ford,2017. Talent management and its relationship to successful veteran transition into the civilian workplace: Practical integration strategies for the HRD professional.Advances in Developing Human Resources,19(1). pp.36-53. Guinan, Parise and Langowitz,2019. Creating an innovative digital project team: Levers to enable digital transformation.Business Horizons,62(6). pp.717-727. Metcalfe, Makarem and Afiouni, 2020. Macro talent management theorizing: transnational perspectives of the political economy of talent formation in the Arab Middle East.The International Journal of Human Resource Management, pp.1-36. Paranosic, and Riveros, 2017. The metaphorical department head: Using metaphors as analytic tools to investigate the role of department head.International journal of leadership in education,20(4). pp.432-450. Tafti, Mahmoudsalehi and Amiri,2017. Critical success factors, challenges and obstacles in talent management.Industrial and Commercial Training. Taylor, 2018.Resourcing and talent management. Kogan Page Publishers. Vaiman,CollingsandScullion,2017.Contextualisingtalentmanagement.Journalof Organizational Effectiveness: People and Performance. Woo,O'Boyle and Spector,2017. Best practices in developing, conducting, and evaluating inductive research. Online