Human Resource: Strategic Staffing Plans - Build or Buy Talent?

This essay analyzes two primary staffing strategies in human resource management: building talent through training and development, and buying talent by hiring experienced professionals or independent contractors. The 'build talent' strategy allows companies to train employees according to their specific policies, enhancing skills and promoting internal growth, but it can be time-consuming and costly. Conversely, the 'buy talent' strategy provides immediate access to skilled employees, boosting productivity, but may require higher salaries. The essay discusses the strengths and weaknesses of each approach, suggesting that 'building talent' is better suited for large companies while 'buying talent' can present financial challenges for smaller firms. The essay concludes by noting the importance of motivation and potential training opportunities when buying experienced talent.

Running head: Human resource management
Human Resource Management

Human resource management
“Build talent and to Buy talent”
Staffing plan is a continuous process that helps to ensure that the company has a right
number of individuals with the right skills so that the need of the company can be satisfied. It has
been analyzed that there are two staffing strategies. One is related with to build talent and other
is related to buy talent. To build talent is to give training to the employees so that the activities of
the individual can be improved and also it can be showcased in front of other people. It is related
to the level of commitment and also develops the skills of the employees so that empty positions
can be fulfilled.
If the focus is given to buying talent it has been seen that it focus on considering the
independent contractors so that talented candidate can easily fill the vacant position in the
workplace. It has been seen that the position is filled by those employees who already have the
knowledge of the activities and also they conduct the activities of the company in an effective
manner (Davis, Cutt, Flynn & Mowl, 2016).
If the focus is given to the strategy related to building talent, then it has been seen that the
strength related to this strategy is that the employees can be trained according to the policies of
the company. Training is offered by the company to enhance the talent so in this context the
company can easily make them learn the way of working (Sparrow & Makram, 2015).
The weakness which is possessed is related to consumption of more time. When the
talent builds it has been seen that time consumption is more. The management has to face the
challenge related to more time-consuming. For example: When the employees are given training
it takes approximately 1 month is required to enhance their skill, so the cost and time incurred is
high. This strategy can work well in the large companies where other employees can easily
manage the work. This strategy cannot work in the small companies as there are few talented
employees to manage the work. The management will face the challenge at the time of managing
the work.
If the emphasis is given to the strategy related to buying talent it has been seen that
employees are already trained and possesses sufficient skills to conduct the activities. The
strength related to it is that better productivity can be maintained in the workplace and also the
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employees will be dedicated towards the work. The weakness related to it is that the company
has to give high salary according to the experience (Sparrow, Hird & Cooper, 2015).
For example, the fresher who is doing the same job is employed on 12,000 per month
and the experienced conducting the same activity will be given 22000 per month. This strategy
can work well in the large companies where the activities can be completed in a proper manner
and company can maintain their market share. The management will face the challenge at the
time of motivating the employees. The employees who are experienced can also give training to
the new employees or fresher and they can also enhance their motivation level. This strategy
cannot work in the small companies as the challenge that will be faced is related to the high pay
according to their overall experience (Tafti, Mahmoudsalehi & Amiri, 2017).
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References
Davis, T., Cutt, M., Flynn, N., & Mowl, P. (2016). Talent assessment: A new strategy for talent
management. Routledge.
Sparrow, P. R., & Makram, H. (2015). What is the value of talent management? Building value-
driven processes within a talent management architecture. Human resource management
review, 25(3), 249-263.
Sparrow, P., Hird, M., & Cooper, C. L. (2015). Strategic Talent Management. In Do We Need
HR? (pp. 177-212). Palgrave Macmillan, London.
Tafti, M. M., Mahmoudsalehi, M., & Amiri, M. (2017). Critical success factors, challenges and
obstacles in talent management. Industrial and Commercial Training, 49(1), 15-21.
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