HIRING AND RETAINING THE RIGHT PEOPLE

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It is of utmost importance that organizations make the right decisions and have the right processes to make sure that the best candidate is recruited for the job (Saviour et al., 2016). It clearly defines the future goals and targets of the company and also is a measure of how modern and productive the HRM systems are of the organization (Ployhart, 2006).  It is important that organizations make sure that the selection process makes sure that the productive people are recruited rather than hiring candidates who do not work towards the goals of the company (Senarathne, 2020). Let’s look closer into how organizations can manage their current and future employees.

 

Talent Management.


Talent management is the process of ensuring that the organization has the talented people it needs to attain its business goals. It is the strategic method which involves meticulous planning in creating a strategic talent pipeline. (Wilkinson et al., 2010) Organizations pay special attention to talent management systems in order to make sure that their talent pipeline is not starved. It is noteworthy that it is important for companies to make sure that any form of talent management systems are in place even though it requires time and money. (Collings, Mellahi and Cascio, 2018) At Sri Lankan Airlines a separate department dedicated to talent resourcing and management is set up to make sure that the best of the best in the aviation industry is retained and when required hired. A department with executives and a manager who is well experienced in talent management is set up to meet the criteria. Ensuring talent management has made Sri Lankan Airlines a formidable competitor in the aviation industry so much that many other Airlines around the world look into luring in potential candidates from Engineering and Flight Operations departments.

 

It is suggested by (Cappelli, 2009) that a successful organization is one that address and resolve any inconsistency between supply and demand of talent. He also suggested that talent management is not just about employee development or succession planning but also about attaining the organizations objectives and to do so have highlighted 4 key points in achieving this as stated below.

  1.    Make and buy talent to manage the demand-side risk.
  2.    Reduce the uncertainty in talent demand.
  3.   Earn a return on investment in developing employees.
  4.   Employee interests should be balanced by creating an internal labour market that offers all the advantages of the external labour market to reduce staff turnover and to avoid the associated loss of talent and costs.

Figure 1 illustrates how organizations manage a good talent pool.

SOURCE: (Wilkinson et al., 2010)


Talent Management Process.

Figure illustrates how organizations should streamline their process to have a productive pool of candidates. It reflects the business strategy of the organization and signifies the future demand for talented people.(Wilkinson et al., 2010) Let’s look into some of the key elements of the talent management process.


  • Talent Planning: This is the process of establishing how many and what sort of talented people are needed now and in the future (Wilkinson et al., 2010). It uses the techniques of workforce planning which leads to the development of policies for attracting and retaining talent and for estimating future requirements (McDonnell, Hickey and Gunnigle, 2011).

 

  • Resourcing: The outcomes of talent planning are programs for obtaining people from within and outside the organization (internal and external resourcing) (Cappelli, 2009). Internally they involve the identification of talent, talent development and career management. Externally they mean the implementation of policies for attracting high-quality people.(Wilkinson et al., 2010)

 

  • Talent Identification: This is the process of using talent audits to establish who is eligible to become part of the talent pool and to benefit from learning and development and career management programs. The information for talent audits can be generated by a performance management system that identifies those with abilities and potential.(Wilkinson et al., 2010)

 

  • Talent Retention: It is important to implement policies designed to ensure that talented people remain as engaged and committed members of the organization (Wilkinson et al., 2010). To adopt new strategies organizations have to accept the new reality: the market, and not the company, will ultimately determine the movement of employees. One way is to make sure that the organization is a pleasant and a rewarding place in which to work in. But whatever an organization does to counter the pull of the market; it is difficult to shield employees from attractive opportunities and aggressive recruiters. The main goal of the organization’s HR is to influence who leaves and when.(Cappelli, 2009)

 

Video 1 below illustrates Ellyn Shook, CHRO of Accenture, explains how managers must “unlock the human potential” of those on their teams to retain top talent. However, unlocking potential is not a simple “one size fits all” solution — it is as unique as the people giving and receiving the coaching. (LinkedIn Talent Solutions, 2016)



Video 1 Accenture's Top Strategy for Managing and Retaining Talent.

SOURCE: (LinkedIn Talen Solutions, 2016)





List of References.


  • Cappelli, P. (2009) ‘Talent on Demand – Managing Talent in an Age of Uncertainty’, Strategic Direction, 25(3), p. 16. doi: 10.1108/sd.2009.05625cae.001.

 

  • Collings, D. G., Mellahi, K. and Cascio, W. F. (2018) ‘Global Talent Management and Performance in Multinational Enterprises : A Multilevel Perspective Collings , D . G ., Mellahi , K . & Cascio , W . F . ( 2018 ). Global Talent Management and Performance in Multinational Enterprises : A Multilevel Perspectiv’, Journal of Management, 45(June), p. 54.

  • LinkedIn Talent Solutions, 2016. Accenture’s Top Strategy for Managing and Retaining Talent. Available at: https://www.youtube.com/watch?v=mj7q7H7ioME (Accessed: 22 August 2021).

 

  • McDonnell, A., Hickey, C. and Gunnigle, P. (2011) ‘Global talent management: Exploring talent identification in the multinational enterprise’, European Journal of International Management, 5(2), pp. 174–193. doi: 10.1504/EJIM.2011.038816.

 

  • Ployhart, R. E. (2006) ‘Staffing in the 21st Century: New challenges and strategic opportunities’, Journal of Management, 32(6), pp. 868–897. doi: 10.1177/0149206306293625.

 

  • Saviour, A. W. et al. (2016) ‘The Impact of Effective Recruitment and Selection Practice on Organisational Performance (A Case Study at University of Ghana)’, Global Journal of Management and Business Research: A Administration and Management, 16(11), pp. 25–34.

 

  • Senarathne, C. W. (2020) ‘The Optimal Capital Structure under the Conditions of Employment: An Application of Theory X and Theory Y’, Zagreb International Review of Economics and Business, 23(1), pp. 51–69. doi: 10.2478/zireb-2020-0004.

 

  • Wilkinson, A. et al. (2010) The SAGE handbook of human resource management, The SAGE Handbook of Human Resource Management. doi: 10.4135/9780857021496.

 







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Comments

  1. Shanil Fernando2 September 2021 at 21:58

    According to Zinyemba (2014) some firms utilize the recruitment process solely to create a "talent pool" or to assess the market. She further states that, it can be applied as a strategy for increasing an organization's capability in a rapidly changing market.

    ReplyDelete
    Replies
    1. Kavan Seneviratne9 September 2021 at 09:57

      I concur Shanil. Having a talent pool is an investment to an organization. It opens up a world of opportunities moving forward to the fact that capable, knowledgeable, well suited and productive candidates are within arms reach when the organizational need arises.(Yarnall, 2011)

      Delete
  2. Sumeera Nawarathne4 September 2021 at 02:01

    Good explanation on hiring and retaining employees in theoretical aspects. Since you didn’t focus on the practical application of the discussed theories into the aviation industry, I would like to remind you of some strategies for retaining skilled business aviation professionals as per NBAA - National Business Aviation Association (2018). There should be creative compensation, ensuring work-life balance, providing a career path and educating aviation personnel are the strategies to retain the people in the aviation industry.

    ReplyDelete
  3. K G B Sampath7 September 2021 at 02:01

    Agreed with your points. It is difficult to identify the precise meaning of “talent management”. The terms “talent management”, “talent strategy” Corresponding author”, “succession management”, and “human resource planning” are often used interchangeably (Lewis, R.E. and Heckman, R.J., 2006).

    ReplyDelete
  4. C. K. Senanayake8 September 2021 at 06:43

    According to Anwar et al (2014), Talent management plays an effective role and its integration at all levels of the banks, improves performances. Hence, organisations should give proper attention in attracting new employee, recruiting current employees, and engaging them for the betterment of employees and companies it-self.

    ReplyDelete
  5. Samuddhi Menaka Alawatta8 September 2021 at 21:50

    Agreed, Bad hire negatively affect to the organization reputation. Not only that it will effect to the current employees moral, productivity, good recruiting and hiring practices are very critical in modern organizations (Mitchell,2020).

    ReplyDelete
  6. Nadeeka Indunil Pathirage11 September 2021 at 06:40

    Agree Kavan, In addition to that managing for employee retention involves strategic actions to keep employees motivated and focused so they elect to remain employed and fully productive for the benefit of the organization (Althaf, 2018). he also stated that comprehensive employee retention program can play a vital role in both attracting and retaining key employees, as well as in reducing turnover and its related costs

    ReplyDelete

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