Talent Management Strategies and Performance: Steel Company Case Study

This case study analyzes the talent management practices of Steel Company, a small manufacturing business. The assignment explores arguments for individual versus team performance targets, examining how they impact company productivity. It investigates the use of performance management systems to enhance employee skills and communication, highlighting the importance of integrating these systems with other human resource processes. Furthermore, the case study assesses the effectiveness of linking performance to financial rewards, discussing its role in employee motivation and overall company success. The analysis covers training and development, seminars, reward systems, and the creation of a positive work environment to achieve organizational goals and improve employee performance. The study also emphasizes the importance of effective communication and mutual understanding between employees and management for a successful work environment.

Talent Management
Case Study

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK ..............................................................................................................................................1
1.Argument on individual versus team performance targets to improve company performance
.....................................................................................................................................................1
2. Usage of performance management system to enhance employees and its communications 2
3. Method of integrating performance management system with other human resource process
and its significance......................................................................................................................6
4. Effectiveness of linking performance to financial reward......................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................7

INTRODUCTION
Management is an effective process of managing or controlling human asset at workplace
by assisting them in a corrective manner in order to enhance the company as well as individual
performance (Wamba and et .al., 2015). Steel company is a small business entity which is run by
entrepreneur or manager and having a very minimum employees that is around 65. Therefore,
assignment is going to highlight the overall management style of an association by showing their
internal strength or weakness. Beside this various techniques of improving employees
performance in order attain company goal in a defined time period is also outlining in this
project. At last, below report is also expressing the effectiveness of connecting performance of
workers to financial reward.
TASK
1.Argument on individual versus team performance targets to improve company performance
Steel company is a small manufacturing organization which is involved in very less work
due to minimum employees and ineffective plans or procedures. According to given case study it
has been assessed that selected organization are not having experienced manager or employees
because of which overall company get failed in attaining their enterprise goals or objectives.
However, after hiring of new divisional director it is observed that number of changes are
occurred at workplace in order to improve the company performance as well as entire association
(Stahl and et. al., 2012). Therefore, it is understood that manager of Steel company is playing a
major role in increasing the organizational productivity by adopting several programmes or
sessions. Thus, director of company is believing that improvement in knowledge of employees is
directly enhance the whole performance of a company. Hence, some of the effective arguments
on individual performance versus and improvement on company productivity are describing as
follows:-
According to various scholars it has been assessed that improvement in employees
knowledge, skills and talent aids an association in maximizing their productivity by performing
business operations in an effective way. In fact, as per given case study divisional director of an
organization is taking maximum number of initiatives as well as conducting several schemes or
programmes of personality enhancement. However, an organization need to make plans or
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policies to improve performance of employees by implementing several events which is detailed
below:- Training and development:- According to this element an association need to conduct a
splendid session to train their employees about their assigned job or duty in order to
improve their knowledge. In fact training event is very useful technique due to its
benefits for individual as well as overall organization because attainment of employees
goals automatically accomplish the business goals in a defined time period. Hence,
developmental events are seen as a key to company success in a minimum duration. Conducting seminars or conferences:- Divisional director of steel company is involving
in implementing various educational seminars or lectures in which employees may
acquire necessary knowledge or learning as well as inspired through motivational life
cycle of successful people (Dries, 2013). Moreover, conferences are seen as one of the
appropriate technique that is used by an association because as per this tool every staff
members are come closer to discuss or negotiate between each other in order to share
opinions for acquiring something new or different.
 Reward system:- An organization needs to appraise their employees by rewarding them
with various additional benefits such as; compensation, remuneration, trophies and so
on. Thus, this system act as encouragement tool for employees which automatically
motivate them towards their personal or professional goals or objectives.
Hence, it has been understood that improvement in individual performance is very
helpful and supportive for entire steel company because if employees of a company get
motivated towards their assigned task then organizational targets can also achieved in a desired
time frame. Therefore, there is a major connection between these two terms as overall success of
an enterprise is depend upon work productivity of workers.
Advantages of individual performance:-
 It aids in enhancement of an individual by improving their learning or skills.
 Helpful for their future life.
 Motivate them to face various complex situation without acquiring help from others.
Disadvantages:-
 Create a situation of conflict between staff members due to improvement of an
individual.
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 Makes differences in opinions.
 Affects the overall environment of an organization.
Advantages of group:-
 Attainment of similar goals in a minimum duration. Useful for company success or development.
Disadvantages:-
 Creates disturbances at workplace.
 Confusion.
Both the tools are very useful for company success or development because improvement
in employees performance automatically enhance an enterprise.
2. Usage of performance management system to enhance employees and its communications
An effective interactions between employees or entire staff members is very much
indispensable because it aids an enterprise in passing necessary information in most appropriate
manner. Along with this useful for maintaining peaceful environment at workplace by
implementing a healthy communication at workplace (Zhao, de Pablos and Qi, 2012). Therefore,
performance management system is one of the useful method of improving employees
knowledge as well as succeeded in conducting effective interaction between workers which is
described as underneath:- Personality improvement:- As per this component divisional director of steel company
can easily enhance the overall outer look of individual who is performing at workplace by
improving their learning or knowledge. For example; selected firm needs to interact with
employees in order to guide them about dressing, way of representing, talking, walking at
workplace and several other things. Thus, management system is all about effective
running of an association with the help of several techniques. Proper flow of information:- If director of steel company get succeeded in implementing
management system in most appropriate manner then they can easily pass the necessary
data or content across the employees. However, main objective is to convey
indispensable information at workplace in order to run a business entity in proper manner
(Dettmer, Knackendoffel and Thurston, 2012). Mutual understanding between employees:- Workers are seen as mandatory asset for
every organization either small or large because business activities are managed or
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executed by them only. Thus, it is essential to create a healthy relation between higher or
lower authority for attaining company goals as soon as possible. For instance; as per
given case study manager needs to implement suitable system to establish a mutual
understanding between employers or subordinates. Flexible hours for employees or
healthy discussion with them in order understand their opinion. Positive environment:- According to this terminology management system act as a major
tool of creating healthy surrounding at workplace because an effective scheme is very
useful for removing conflicting barriers.
 Systematic approach:- This element shows that systematic approach is indispensable for
effective management of an organization in a most effective way by considering
necessary facts or figures.
Therefore above factors shows that an appropriate management system is very useful in
improving the overall performance of employees by creating an effective interactions between
employees or employers (Festing and Schäfer, 2014). For example; if manager of steel company
is implementing management system or any other schemes at workplace then it automatically
assist the employees towards their goals.
Major benefits or advantages of management information system:-
 Create an effective system or environment at workplace.
 Assist employees towards corrective direction or path.
 Maintain a healthy environment.
 Clear vision or mission of an association.
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3. Method of integrating performance management system with other human resource process
and its significance
For having a better performance it is important to for any company to implement certain
rules and regulations. This will assist them in gaining better outcomes and results and it will
gradually enhance their organisation to attain superior position in the market place. As from the
case study, it can be evaluated that Steel company is facing looses which is hindering them to
grow in a rapid speed. Hence, it is prime duty of Divisional Director to collaborate with human
resource department in order to get eligible candidates who are best suited for the job. A the role
of HRD is to recruit fresh individuals who can perform the task in better way. Under this it
includes certain steps in which they conduct selection process, effectual training activities from
which they can enhance their existing skills and knowledges. Thus, superiors should make sure
that they make different departments, which will aid them in performing their task in appropriate
manner (Cole and Kelly, 2011).
Human Resources Department can hire managers and leaders who will use their creative
minds to make innovative ideas. This will help them in creating strategies and plans as per the
norms and rules. Meetings on a regular basis, can assist them in knowing the issues which is
effecting the business through this process employees will get a chance to communicate with
their superiors. They can establish a better conversation amongst various department so as to
create a healthy environment at work place. Superiors can divide their task in small sections that
which can be easily attained by their workers. This process will increase the morale of an
individual which will boost them to complete the task in specific period of time. All this factors
will aid them in achieving their targets in effective way.
Vertical integration:- It is a part of strategy integration in which supply chain of an
enterprise is owned by selected firm in order to make specific products or services. However,
every staff member of this department involve in designing an effective goods as per market or
specific for satisfying needs or demands of distinct consumers.
4. Effectiveness of linking performance to financial reward
Financial rewards are an effective tool through which motivation can be provided to the
work force. Distinct employees have variety of factors through which they are encouraged and
among all the variety of options money is the most common element that helps in increasing the
interest of employees. There are different forms through which the financial rewards can be
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given for instance as salary or other financial payment. When the employees are motivated and
happy with the work place it reflects in their performance too (Vaiman, Scullion and Collings,
2012).
When workers know that their performance will be judged and rewards shall be given if
found to be effective than it builds a habit of doing good at the first time. In the present
competitive world, it is required that the employee’s commitment towards the work place is
raised as only than the competitive advantage over the other can be achieved. It shows that in an
organization the performance development system should be linked with rewards so that chance
of growth of an enterprise can be raised and total turnovers from the referred organization can be
reduced to the maximum limit. The effectiveness of this practice is discussed below:
 Motivation to perform gets increased – It becomes difficult for the management to
decide the key factors that can influence different employees. This way monetary reward
act as a universal mode through which employees can be influenced to work with more
efficiency and hence develop the overall quality of work done in the given enterprise
(Armstrong and Taylor, 2014).
 Development of self-esteem – When the work force is provided with continuous
financial rewards the work force develops liking with the work place and hence they get
self-motivated and therefore contribute more in the profitability of the firm.
 Employee involvement – With the help of reward scheme the participation of work force
in different management operations gets increased which further helps the administration
with new and innovative ideas that can be implemented in for developing the present
scale of business. When the views of work force are welcomed by the top management
than it develops feeling of belonging among them and hence reduces total turnovers too.
This way the cost of recruitment and selection is also controlled supported with the
maintenance of continuity in operations.
 Facilitates dynamic working environment – It is a very general phenomenon that
employees do not like to bring change in their daily course of action and like to carry out
their work in the same manner. It restricts the capacity of organization to expand and
hence the profitability of the firm remains limited. Therefore, when employees are given
with the appraisals and continuous rewards they develop a better understanding and
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ensure that they also work with the latest technology so that they also get better
opportunities in future (Gallardo-Gallardo Dries and González-Cruz, 2013).
 Volunteer for challenging jobs – When the responsibilities and duties of different work
force is raised without raising their present scale of income resistance is shown by them.
It is a natural reaction as no individual would like to give more efforts without receiving
any other incentives. Therefore, when it is assured that every employee at the work place
will be awarded with financial benefits than they will come forward on their own and will
take more duties to perform.
Disadvantages of financial rewards system:-
 Create a discriminatory environment at workplace.
 Chances of conflicts.
 Sometime it act as a negative factor for few employees.
CONCLUSION
From the above report it has been concluded that an effective management system is
indispensable for success or development of an organization because it aids an association in
overcoming all the company issues or barriers in minimum time frame. Therefore, assignment
was all about steel company which is small firm involved in manufacturing but not having
appropriate strategy as it influence their organizational profits. Thus, report was highlighting
significance of an appropriate system at workplace and shows that improvement in company
performance enhance the productivity of an enterprise also.
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REFERENCES
Books and Journals
Wamba, S.F and et .al., 2015. How ‘big data’can make big impact: Findings from a systematic
review and a longitudinal case study. International Journal of Production
Economics. 165. pp.234-246.
Stahl, G. and et. al., 2012. Six principles of effective global talent management. Sloan
Management Review.53(2). pp.25-42.
Dries, N., 2013. The psychology of talent management: A review and research agenda. Human
Resource Management Review. 23(4). pp.272-285.
Zhao, J., de Pablos, P.O. and Qi, Z., 2012. Enterprise knowledge management model based on
China’s practice and case study. Computers in Human Behavior. 28(2). pp.324-330.
Reiche, B.S., Stahl, G.K., Mendenhall, M.E. and Oddou, G.R. eds., 2016. Readings and
cases in international human resource management. Taylor & Francis.
Dettmer, P., Knackendoffel, A. and Thurston, L.P., 2012. Collaboration, consultation, and
teamwork for students with special needs. Pearson Higher Ed.
Festing, M. and Schäfer, L., 2014. Generational challenges to talent management: A framework
for talent retention based on the psychological-contract perspective. Journal of World
Business. 49(2). pp.262-271.
Cole, G.A. and Kelly, P., 2011. Management theory and practice. South-Western Cengage
Learning.
Vaiman, V., Scullion, H. and Collings, D., 2012. Talent management decision
making. Management Decision. 50(5). pp.925-941.
Armstrong, M. and Taylor, S., 2014. Armstrong's handbook of human resource management
practice. Kogan Page Publishers.
Gallardo-Gallardo, E., Dries, N. and González-Cruz, T.F., 2013. What is the meaning of
‘talent’in the world of work?. Human Resource Management Review. 23(4). pp.290-
300.
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