Analysis of Talent Management Strategies: Aviva Insurance Company

This report provides a comprehensive analysis of the talent management system at Aviva Insurance Company. It begins with an introduction to talent management and its importance, followed by an examination of Aviva's current talent management strategies, including business and HR strategies, recruitment processes, selection methods, performance management, rewards systems, and training and development programs. The report then delves into the gender pay gap reporting, analyzing the data and proposing actions to reduce the gap. It further explores the environmental factors impacting HRM practices, particularly the impact of the COVID-19 crisis and new social distancing arrangements. The report concludes with a summary of the findings and references, offering valuable insights into Aviva's talent management practices and recommendations for improvement. Part 2 of the assignment is covered in a PowerPoint presentation.

Talent Management
System

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Part 1................................................................................................................................................1
Task 1..........................................................................................................................................1
Current talent management strategy of Aviva Insurance Company.......................................1
Task 2..........................................................................................................................................4
Gender pay gap reporting.......................................................................................................4
Task 3..........................................................................................................................................5
Environmental factors impacting the HRM practices............................................................5
Part 2................................................................................................................................................5
Covered in PowerPoint presentation...........................................................................................5
CONCLUSION................................................................................................................................5
References:.......................................................................................................................................7

INTRODUCTION
Talent management system can be defined as the function of the human resource
management in which they are responsible for managing the talent in an organization which are
associated with the people management and their existence in the company about their job
(Anlesinya and Amponsah-Tawiah, 2020). organization chosen here is the Aviva Insurance
Company, it is one of the leading international insurance company based in UK in 2000. It
renders services such as card services, pension services and many more either in a online via
their website or in a traditional way via their stores or service centres. The following discussion
is made on the current talent management strategy of Aviva Insurance Company, gender pay gap
reporting, environmental factors impacting the human resources practices of Aviva Insurance
Company, shortcoming due to gap and recommendations with proper findings and conclusion.
MAIN BODY
Part 1
Task 1
Current talent management strategy of Aviva Insurance Company
Business strategy and HR strategy
Business strategy of Aviva Insurance Company is based on expanding the business in
different other counties where they do have the branches or offices to get operated, they are
aiming to grow and develop not only in the limited countries but also to get the wider reach
across the world, they are also targeting on the strategy of sustainable growth of a business so
that they can perform environment friendly operations in their company (Sparrow, 2019). HR
strategy of Aviva Insurance Company is based on the hiring of specialised candidates who are
expert in performing he organizational functions but if they hire a fresher then they provides a
better training and development sessions to them to enhance their skills and moreover they are
also involved in the strategic recruitment, selection methods, performance management, rewards
management and equality and diversity management.
Recruitment and recruitment channels
Recruitment strategy of the Aviva Insurance Company is to first search out the candidates
as per the requirements of the job profile through internal recruiting type, if they do get any
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talent matching their roles and responsibilities they carry their recruitment strategy to the
external recruitment. They use various recruitment channels such as online job boards such as
naukri.com, monster.com, indeed.com, shine.com and many more, company's website, employee
referrals, social media sites such as LinkedIn, Instagram, Facebook and many more, events, trade
journals, candidate rediscovery, email campaign, internal recruitment and participating in the job
fair. All such channels are used by the company to recruit the candidates in a strategic manner so
that they can get the best out of the pool of the applications they received for the same.
Selection methods
Selection method is chosen by the Aviva Insurance Company as per the skills, abilities
and qualities required by the job profile, such as CV is a mandatory thing for each and every job
seeker because it contains all the basic and necessary information about the candidate in a
summarised manner so that it can be quickly reviewed for the next step of the selection process
(Painter‐Morland, Kirk, Deslandes and Tansley, 2019). Another methods such as application
form, letter of application, interviews, tests, group activities and references. Each method is
totally dependent on the nature of the job profile because some demands communication skills
and some demands calculative skills. Company has used all the selection methods minimum
once during the whole journey of the organization and maximum many a times on a daily basis
accordingly.
Performance management and appraisal system
Performance management system of Aviva Insurance Company is performed in four
basic steps such as first is planning which means that the discussion is made about how, when
and where such function must be carried out and how must cost it will incur for the company that
is the complete feasibility study in done in planning step, second is monitoring which means HR
monitors the whole process while execution and implementation of it, third is reviewing which
means that performance is being reviewed which will result the appraisal to the employees and
fourth is rewarding as per the best and worst performances of the employees. Moreover, they use
many types of the appraisal as per the situations such as the 360-degree appraisal, general
performance appraisal, technological and administrative appraisal, manager performance
appraisal, employee self-assessment, project evaluation review and sales performance appraisal.
Rewards management
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Rewards system in Aviva Insurance Company is basically given to employees in many
forms such as intrinsic rewards for example, attractive job title, career growth, personal
achievements, praises and many more. Extrinsic rewards for example, bonuses, raises, gifts and
many more. Financial rewards for example, incentives, salaries, increment and many more. Non-
financial rewards for example, gym membership, parking space, gift cards and many more.
Membership rewards for example, Christmas bonus, company retreat, upgraded office furnishing
and many more. Performance based rewards for example, play plans, incentive system, bonuses,
commissions and many more (Zhang, Zhao, Tang, Zhu and Xiong, 2020). All such rewards are
decided by the high authorities of the company as per the circumstances in an organization and
current situation they are facing in employee management or talent management.
Training and development and its types
Training and development in Aviva Insurance Company follows the process to
implement the training and development function such as first is assessment which means that it
must be assessed that in what domain it is necessary to provide sessions on training and
development by analysing all the requirements and fund to execute the same, second is
motivation which means that staff is motivated for the sessions by telling them that why is it is
important to conduct and stating the valid reason behind it, third is design which means that HR
designs the whole training and development schedule on a daily basis routinely, fourth is
delivery which means that it is the time of execution part in which employees are being trained
and developed in their specific domain and fifth is evaluation which means that the results are
evaluated that sessions has even benefit the company or not and what improvement is required to
carried for future considerations.
Equality and diversity policy
Equality and diversity in Aviva Insurance Company is figured out that at the initial level
operations in the company has face the discrimination of gender, caste and religion but after
suffering from lots of problems due to this, company has improved its management in equality
and diversity policy (Narayanan, Rajithakumar and Menon, 2019). They have adopted the
strategic management in diversity to accept the different cultures and different backgrounds of
the employees and how to deal with such heterogeneous environment. Currently, the company is
performing her operations by taking care of the quality and diversity policy so that management
can be more effective and potentially handled.
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Task 2
Gender pay gap reporting
Summary
Gender pay gap
Mean Median
2020 26% 26.7%
2019 26.7% 27.3%
2018 27.2% 27.8%
2017* 28.5% 27.6%
Gender bonus gap
Mean Median
2020 51.2% 36.5%
2019 51.4% 39.0%
2018 54.8% 39.1%
2017* 57.2% 40.5%
Proportion of men and women receiving a bonus
Men Women
2020 95.3% 96.5%
2019 95.2% 94.9%
2018 91.4% 92.1%
2017* 91.3% 93.0%
Analysing the data for notable changes and actions that company can take to reduce the gap
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Some actions can be taken to reduce such gender gap in an organization such as changes
in recruitment strategies and retention and progression (Chen, Lee and Ahlstrom, 2021).
Company must focus on training and development sessions more for the women as per the
recruitment basis and job roles they have assigned to. They must search for the job profiles in an
organization which best suits for the women so that they can feel comfortable working in the
company by rendering them all the facilities which they deserve and these actions will definitely
help the company reducing the gender gap in the firm.
Task 3
Environmental factors impacting the HRM practices
Covid-19 crises and its impact
Environmental factor of Covid 19 crises has highly affected the human resource
management practices in Aviva Insurance Company not only in a negative manner but positive
as well (Jayaraman, Talib and Khan, 2018). Initial stages of Covid 19 pandemic were very
difficult for the human resources to coordinate and cooperate with the people, work and
technology, training sessions were also becoming difficult for them. But after some time, when
people started the work from home and learnt many of the technologies, then they come to know
about the importance of technology and started learning it for the future basis as well. This has
impacted positively in the HRM practices.
New social distancing arrangements that are impacting work premises
After opening of the offices after the lock down scenario, sitting arrangements has been
changed so that social distancing can be maintained between the employees. Aviva Insurance
Company has set up their sitting arrangements alternatively such as some days some employees
will come and vice versa. Some employees are on permanently work from home and some are on
temporary work from home (King and Vaiman, 2019). This has impacted the work premises of
the company arranging again and again as per the employees working but it has secured the life
of the people who are working from office without any fear of pandemic while taking the safety
and health precautions such as masks and sanitizers.
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Part 2
Covered in PowerPoint presentation
CONCLUSION
It is concluded that talent management system is a part of the human resource
management where skilled or non skilled people are managed in an appropriate manner in order
to make the company grow and develop. Employees are considered as the biggest and important
asset of an organization so they are required to be cared for the smooth functioning and harmony
in the company (Collings, Mellahi and Cascio, 2019). Staff management is an essential function
to learn and apply it in the real world firms and therefore, it is important to analyse the current
talent management strategy of Aviva Insurance Company, it is essential to examine the gender
pay gap reporting, it is necessary to determine the environmental factors impacting the human
resources practices of Aviva Insurance Company, it is significant to study about the shortcoming
due to gap and it is crucial to provide the recommendations and implementations to the company.
Hence, this report covers all such areas to better understand the concept of talent management
system.
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References:
Books and Journals
Anlesinya, A. and Amponsah-Tawiah, K., 2020. Towards a responsible talent management
model. European Journal of Training and Development.
Chen, S.Y., Lee, A.Y.P. and Ahlstrom, D., 2021. Strategic talent management systems and
employee behaviors: the mediating effect of calling. Asia Pacific Journal of Human
Resources. 59(1). pp.84-108.
Collings, D.G., Mellahi, K. and Cascio, W.F., 2019. Global talent management and performance
in multinational enterprises: A multilevel perspective. Journal of management. 45(2).
pp.540-566.
Jayaraman, S., Talib, P. and Khan, A.F., 2018. Integrated talent management scale: Construction
and initial validation. SAGE Open. 8(3). p.2158244018780965.
King, K.A. and Vaiman, V., 2019. Enabling effective talent management through a macro-
contingent approach: A framework for research and practice. BRQ Business Research
Quarterly. 22(3). pp.194-206.
Narayanan, A., Rajithakumar, S. and Menon, M., 2019. Talent management and employee
retention: An integrative research framework. Human Resource Development
Review. 18(2). pp.228-247.
Painter‐Morland, M., Kirk, S., Deslandes, G. and Tansley, C., 2019. Talent management: The
good, the bad, and the possible. European Management Review. 16(1). pp.135-146.
Sparrow, P., 2019. A historical analysis of critiques in the talent management debate. BRQ
Business Research Quarterly. 22(3). pp.160-170.
Zhang, X., Zhao, Y., Tang, X., Zhu, H. and Xiong, H., 2020, January. Developing fairness rules
for talent intelligence management system. In Proceedings of the 53rd Hawaii
International Conference on System Sciences.
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