Talent Management: Strategy, Gender Pay Gap, and Environmental Factors

Talent management

Table of Contents
Introduction .....................................................................................................................................1
Part 1................................................................................................................................................1
Task 1...............................................................................................................................................1
Discuss firm's current talent management strategy ...............................................................1
Task 2...............................................................................................................................................3
Examine the Gender Pay report statistics...............................................................................3
Task 3 ..............................................................................................................................................4
Discuss the environment factors impacting the human resource management practices.......4
Part 2 ...............................................................................................................................................4
Recommendation for addressing this gap ..............................................................................4
Conclusion ......................................................................................................................................4
References .......................................................................................................................................4

Introduction
Talent management is one of the essential function of the human resource management in
the organisation, a human resource manger needs to carry out a number of functions like
recruiting, managing employee's relations and performance, orientation of employees, training
and development and the most important talent management, talent management is an ongoing
process of attracting skilled candidate in the organisation and involves effectively enhancing
their performance by providing providing training to them as well as motivating them towards
achieving goals and objectives effectively. The main aim of the talent management is to
effectively manage the employees by continuously motivating them towards long term goals. In
this report RSA Insurance group plc is taken as the base company. RSA Insurance group plc is
one of the top international general insurance company offering wide range of services like
home, commercial enterprise, marine and travelling insurance. Company was founded in 1996
by the merger of Sun Alliance and Royal Insurance headquartered in London, United Kingdom.
This report covers various strategy like business and human resource strategy, recruitment
channels selection methods performance and rewards strategy with training and development
also equality and diversity policy. In addition to this Gender Pay gap report is also analysed and
the various external factors affecting the human resource practices. Further more
recommendation on how these gap can be addressed effectively.
Part 1
Task 1
Discuss firm's current talent management strategy
Talent management is one of the important activity used by the management to enhance
the employees performance in the organisation and motivates them towards their goals, talent
management is the part of human resource strategy which involves enhancing the performance of
the employees and also help in gaining competitive advantage (Abdollahbeigi, 2021). The talent
management helps to gain competitive advantage in the market and also in developing skilled
and talented candidates which will help in increasing productivity and performance of the
organisation (Adamsen, 2019). In context to RSA Insurance Group, company is one of the

multinational general insurance company having strong human resource department developing
its employees by providing required training. Company also has strong talent management which
helps in motivating their employees towards goals and objectives. In context to the company
various information can be used to describe talent management strategy discussed below:
Business strategy & HR strategy: In order to grow in the competitive market one of the
essential component needed by the company is formulation of effective business strategy, it is set
of actions and plans which clearly states how company will perform in the targeted market in
order to gain competitive advantage, with effective business strategy the company also needs
effective human resource strategy, which helps company to attract right and potential customers
for the required position in the company also helps in motivating also enhancing the performance
of the employees. In context of RSA Insurance Group, it is one of top multinational insurance
company serving in wide areas, company has strong business strategy for their target market as
well as effective human resource department (Alziari, 2017).
Recruitment, including recruitment channels: The recruitment is the process of
attracting large number of skilled customers and making them to apply for the job, it includes
hiring the right or skilled candidate for the required position in the organisation. It is one of the
important strategy of the human resource management where talented employees are hired. The
there are number of recruitment channels available like campus recruitment, online channels,
advertisements and so on. Having right talent management strategy helps company in attracting
right candidate for the right position. In context to the RSA Insurance Group, company uses all
the online recruitment channels to attract the potential customers, also company is actively using
their own social network in order to hire skilled candidates effectively.
Selection methods: Another recruitment process comes the selection process, recruitment
is process of influencing large number of candidates to apply for the job, out of all those
candidates skilled and suitable employees are selected for the required position. There are
number of selections methods like pre-selection test, group discussion and interview to measure
the efficiency and potentiality of the candidate (Bhatia and Baruah, 2020). The main focus of
talent management strategy is selecting the right and skilled candidate. In context to RSA
Insurance Group, the company is using effective selection criteria to find right and suitable