Talent Management and Workforce Planning - Retention of Talent Proposal

This proposal discusses the various aspects of talent management and workforce planning, specifically focusing on the retention of talent in OcMara industries. It covers motivational issues, management styles, training and development, coaching and mentoring initiatives, building and supporting talent pools, and direct and indirect costs. The proposal also includes references to recent studies on talent management practices and their impact on employee engagement and organizational performance.

RETENTION OF TALENT
PROPOSAL

TABLE OF CONTENTS
• Motivational issues and management styles
• Training and development and workplace characteristics
• Coaching and mentoring initiatives
• Building and supporting talent pools
• Direct and indirect costs
• References

MOTIVATIONAL ISSUES AND
MANAGEMENT STYLE
• Unequal pay in comparison to the efforts: The unequal pay as compared to
the efforts put by the employees of the company of the OcMara is the huge
motivational issue.
• Lack of rewards and recognition: In OcMara the reward and recognition
policy is very ineffective due to which company offers very low rewards and
recognition for their best performance.
• Authoritative management style: This is the type of the leadership style in
which the manager of the OcMara keep their employees in control and also
there is no involvement of the employees in the decision making of the
company.

Training and development and workplace
characteristics
Training and development Workplace characteristics
The training and development is the best
approach of the HRM that organisations like
OcMara use in order to improve efficiency and
effectiveness of the skills of the employees. This
automatically provides the outcome to the
company in terms of developed and retained
individuals and group of talent.
The workplace characteristics include different
factors among which effective leadership style
and leaders is a key factor that helps the company
like OcMara to develop their employees by
guiding them in right direction. This facilitates
retention of the employees.

Continue.....
Training and development Workplace characteristics
Through training and development the OcMara as
the energy sector company can develop the skills
of group of employees or individual in the
specific subject like technology or regrading new
methods of the extracting the crude oil. By this
employees gain self esteem and actualization
which help them in retention.
The organisational culture is the workplace
characteristic of OcMara that help an employee to
work with productivity and provide the best
performer to the company. By this employee
develop its owns skills and also a friendly and
productive organisational culture is best
characteristics by which employees can be
retained.

COACHING AND MENTORING
INITIATIVES
• In OcMara industries the company has taken an initiative to coach and
mentor their new trainees regarding the new technology used by the
company to extract high volume of crude oil in less time.
• In OcMara the company has also taken an initiative of hiring the
external training and coaching heads that will educate and coach the
existing employees regarding the new trends, demands and changes in
the industry which are essential to be meet in order to remain
competitive.

Continue.....
• It is critically evaluated that Ocmara has the regular process of
performance evaluation and review through the method of feedbacks and
employees surveys.
• In OcMara there is the usage of the Key Performance Indicator in order
to analyse the performance of the individuals as well as of the groups of
the employees.

BUILDING AND SUPPORTING TALENT POOLS
• Drive innovation and inspire creativity: when the employees of
the Ocmara work in the diversity workplace culture they are open to
the multiple ideas, knowledge and opinions.
• More productive and perform better: By drawing cultural
diversity talent pool the OcMara gains a chance of attracting and
retaining the best talent for the company.

DIRECT AND INDIRECT COSTS
• The employee turnover is never a good news for any
organisation but the dysfunctional employees turnover is the
worst as in this the talent, high performer employees leave the
firm at the critical times.
• When in OcMara the employees leave voluntary and there is a
dysfunctional employee turnover due to the several reasons
such as lack of growth, internal pay equity, and workload and
much more there is direct cost involved with such turnover of
employees.

REFERENCES


Li Qi, V. and Jia Qi, C., 2021. Talent Management Practices and Employee Engagement-A Study in
Malaysian GLCs.


Olufemi, F.J., Afegbua, S.I. and Etim, E., 2020. Talent Management and Public Sector Performance: An
Assessment of Lagos State Ministry of Education, Nigeria. The Journal of Social Sciences Research, 6(9),
pp.845-855.


Othman, A.A.E. and Khalil, M.H.M., 2020. A lean talent management framework for maximizing
creativity in architectural design firms. International Journal of Construction Management, 20(5), pp.520-
533.


Sandeepanie, M.H.R and et. al., 2020. Talent, Talent Management & its Practices: A Critical Review.


Theys, N.A. and Schultz, C.M., 2020. A qualitative perspective of Talent Management. Journal of
Contemporary Management, 17(1), pp.64-85.

THANK YOU !!