Resource And Talent Planning

Resource And Talent Planning

INTRODUCTION - Resource And Talent Planning

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Question 1

Labor market trends in the UK and China along with an explanation regarding the significance of loose and tight labor market conditions

The labor market trends deal with the demand as well as supply for the various labor. In addition to this employees give the demands, as well as employees, give supply. The labor market trends in the United Kingdom are that they have high information about their job vacancies as well as low employment levels (Khan et al. 2019). Due to this, they are leading with the tightest labor markets as per the newest labor force survey (LFS) which analyzed that in the year 2021 in December they are recovering in the field of market labor. The tight labor market is good because it helps to increase the wages of its employees but at a risk of inflation. Additionally, there is an increase in their rate of employment and a decrease in their rate of unemployment (Oesch and Piccitto, 2019). In addition to this, the data that has been provided by the labor force survey (LFS) shows the positive aspects of the labor market trend in the United Kingdom. The rate of employment in the United Kingdom has been increased by 0.1 % points in the “quarter to 75.5%” (s). In addition to this, the increase in the rate of employment is not there in the field of self-employment because the percentage of workers self-employed remains low. In the United Kingdom in the years 2021 to 2022, the number of job vacancies made a new record because there was an increase of 513,700 in their job vaccines. The unemployment rate is decreasing day by day in the country of the United Kingdom because the large population of this particular nation is above 50. In addition to this in course to develop their nation, they need more employees in their workforce to make more development in the United Kingdom. On the other hand, the country of China is leading the world’s largest labor market (Boselli et al. 2018). In addition to this, there are 288.4 million workers in China, located in large cities of China. In addition to this, the reason behind their increasing number of workers is that China is because they have more of a young generation. In addition to this as per the reports, China has the maximum number of employees who are skilled in their respective work. Additionally, the demand for skilled workers is mostly demanded by most countries in their work. In the urban market, there is an enlarged demand for trained workers as well as qualified workers. In addition to this, the number of employed workers in the year 2021 is 747.5 million, and on the other hand, the number of employed people in the United Kingdom is very low (Bell and Blanchflower, 2019). Moreover, in the case of the United Kingdom, the rate of jobs is increasing day by day but there is a huge reduction in the working employees. In addition to this, it creates a great impact on the GDP of the countries as example if the country consists of more number working employees this results in the development of that respective country. On the other hand, as an example, if there is less number of working employees that means there is no such positive growth in that respective country (Jayachandran, 2021). China is also leading the tight labor market as well as by raising the rates of the wages of its employees. A tight labor market is good for the country of China as well as good for its employees because it becomes a boon for the workers. On the other hand, due to the tight labor market, the respective country may face the risk of inflation. The loose labor market is not good for both countries and the loose labor market arises when there is an increase in the unemployed candidates and there are no jobs for the workers. Due to this, it reduces the wages of the employees because there are many unemployed candidates.

Discussion on the positioning of organizations strategically within the competitive labor market

The competitive labor market deals with the compositions of the different firms that compete for the employees. To increase the competition in the markets for labor, the respective organizations need to develop certain strategies to endure attractively as well as keep scarce talents for potential hires (Popa, 2019). To become victorious, the different organizations need to adopt the strategies of resourcing that are beneficial for them. To attract the appropriate employees for their respective work in their organization's teams as well as to transform themselves from their respective competitors (Weisshaar, 2018). Various factors need to be included within the organization to attract the right employees for their respective organizations. Additionally, such as the salary offered to them, and some other benefits such as flexible working for the workers (Pavlova, 2018). In addition to this, the security of the employees, job roles for each employee in the concerned organization as well as a working environment.

Question 2

Role of trade unions, employers, and government to ensure the future skills which are needed to met

The trade unions play a very important role in the respect of brawls for education as well as there is a need to enhance their proper skills for the changes in their lives for their members as well as to build up the voice of union with the help of appropriate training of the professional officers as well as workplace reps. Trade unions have regularly played a major role because they improve the skills of people in the field of education (Emmenegger et al. 2020). The main role of the unions of trade is it provide services as well as assistance to their members, simultaneously bargaining for the conditions of the employees together with better pay for all the workers. In addition to this, another role of the trade unions is to work on improving the “quality of public services”, industrial action as well as political campaigning (Kova?evi?-Peri?, 2020). The employees of the respective organizations need to improve their future skills for the betterment of their workforce as well as to meet the organizational goals that are set by their respective companies (Magidi and Mahiya, 2021).

The employees of the respective organization need to enhance their skills. Due to this, they play a major role in leadership and in helping the organization to provide a proper pathway within the workforce (Akhmadjonov, 2022). The next way from which the employees may prepare for the workforce in the future is by working closely with colleges, schools, programs of graduate recruitment as well as high schools. Various skills are needed to improve the employees such as the matter of active learning, and creativity of the employees to make unique as well as effective decisions (Kuhlmann and Vogeler, 2021). Additionally, improvement in the field of complex problem solving together with critical thinking as well as analysis is essential here. The skills of the employees are very much required within the organization because they help the respective organization to achieve its goals properly as well as on time (Susilowati and Suyatno, 2021). The role of government has a very important role because it provides a proper set of rules as well as regulations that need to be followed by the respective organizations of the concerned country.

The concerned government needs to make sure about the growth together with the stability of the economy as well as provide the services and public goods. The way by which the concerned government may improve their future skills through supporting the development of skills needs to be taken into consideration (Abdeldayem and Aldulaimi, 2020). In addition to the improvement in the workforce, skills need to be improved by the productivity of the labor which their concerned government supports. Various plans are needed to be included within the concerned government such as improving the leadership of the employer at the local level, as well as the local skill improvement (Lu et al. 2020). In addition to this, the other necessary changes that are needed are in improving the technical skills, skills which are required for the employees for the particular task.

Question 3

Description of main principles regarding the planning of an effective workforce

There are various important principles for the planning of the effective workforce of the respective organizations such as adopting the changes to enhance their skills. In addition to this enhancing the quality of their works improves the reiteration as well as provides professional development. Additionally, it also includes the principle of reducing labor costs together with addressing the inefficiency (Hou et al. 2020). The principle of adoption of the changes deals with the changes in the planning of the workforce the concerned organization needs to be prepared to deal with the changes in the requirements or demands by providing a multi-talented workforce as well as having a flexible workforce. The next principle regarding the planning of an effective workforce is the enhanced quality of the concerned organization's workforce (Gilster et al. 2018). In addition to this, the planning of the workforce may support conveying the results of high quality for the times of better turnaround by their allocated tasks for the most qualified as well as skilled employees.

 There is a huge importance of skilled employees because it helps the concerned organization to achieve their respective goals and it also shows the positive efficiency rate of those employees. In addition to this, skilled employees also help to improve the profit margin of the respective organization. The enhancement of the quality of the employee's work is very important for the concerned organization because it shows the efficiency rate of the respective organization (Abdeldayem and Aldulaimi, 2020). The next principle of workforce planning is to reduce labor costs because of the planning of the workforce attempts the reduce the costs of labor by encouraging the efficiency of their employees in the workforce as well as removing unproductive practices.

The reduction in unproductive practices is very much needed because it shows the inefficiency rate of the concerned organization. The next principle regarding the planning is improvement in the retention this needs to be implemented within the concerned organization by keeping the respective organization employees in their proper roles (Gilster et al. 2018). Due to this, the employees can use their proper skills and by this, the employees may feel more engaged as well as valued in their concerned organization. In addition to this, the reduction of the employees who left their respective organizations needs to be taken into consideration as well.

Examples of tools that can be used for making effective workforce planning

Various tools can be used for making effective workforce planning such as organizational strategy because it is the main strategy in the identification of the major elements of the strategic plan. Which is used to select the objectives as well as goals of the respective business to expand their potential in the absence of straining the resources or creating risks? The organizational strategy is important for the concerned organization because it gives the employees consistency in their respective work. The organization also helps the concerned business priorities (Olson et al. 2018). The organizational strategy also deals with the top-down plan which is based on the market trends, product fit or service fit, as well as competitors of their organizations. This type of huge alignment is very much needed within the organization as well as within the team. The respective tool also uses the strategy of workforce planning (Bombiak and Marciniuk-Kluska, 2018). The next strategy that can be used by the respective organization is the 9-Box Grid because this particular tool prints out the performance of the employees and permits the leaders for a better understanding of the management of the trams. The 9-Box Grid can play a hugely important role in the respective organization by allowing the spotting of high performances in their respective organizations to improve their rate of efficiency (Lee, 2018). In addition to this, it also identifies what the concerned organization needs to be improved for further development.

Question 4

Basic successions and career development plan

Succession plan

Table 1: Succession plan

Career development plan

Table 2: Career development plan

Evidence to show the contribution to plans for downsizing an organization

It is essential enough to develop effective plans to downsize an organization more appropriately. As per my role, I was responsible for developing the “systematic transition plan” in which specific goals, as well as objectives, are included to retain the individuals. Different downsizing tactics such as workforce reduction, organization redesign, and others have been conducted by me [Refer to Appendix 1]. These are relevant enough to ensure an appropriate level of downsizing of the organization. Moreover, I was also responsible for conducting appropriate planning for an effective communication strategy through which it is possible to avoid the concern regarding bounded by “one-time action” severely (Hammond et al. 2021). The communication strategy that has been selected by me was the encouraging participation of the employees in the “speaking-focused organization”. In this regard, I have also collected feedback that can also be considered proof of my contribution [Refer to Appendix 2].

I was also responsible for ensuring the fact that the top managers of the organization understand their visionary role within the plan appropriately. In this context, I conducted meetings with the managers and provided a clear overview to them regarding the whole plan. The top managers were also able to explain the facts of how the organization is going and able to provide such support to the “middle-level managers” as well. I have made effective communication as well to keep in touch with the workers as it helps me to collect relevant information regarding their wants and needs.

Contribution to the development of job descriptions, person specifications, and competency frameworks

In the case of identifying the job descriptions, I was responsible for identifying the accurate job titles for the individuals to attract them the most. This job description is helpful enough to fill up the position of accounting manager within the organization and it has been developed by me as well [Refer to Appendix 3]. In addition to this, I influenced the current employees to develop the job descriptions so they can develop them more suitably. I was responsible for avoiding the contexts through which biased situations would be raised while hiring new personnel.

In the case of person specifications, I have followed the below-stated format mainly in order to fill up the position of an HR employee.

Table 3: Person specification

In the case of competency frameworks, I mainly followed the "Job competency model" and the "Custom competency model". I have clearly defined the needs within a specific job role to ensure that each of the individuals must perform to their extent to fulfill each of the responsibilities properly (Kansal and Singhal, 2018). The custom model is suitable to include each of the relevant business objectives regarding the business context.

Question 5

Explanation of legal requirements for selection and recruitment

The legal requirement deals with the qualification or the quality which is needed within the person to do something or which is suitable for something. In addition to this, the legal requirements for the selection deal with the criteria of knowledge of the people, proper abilities that are needed within the employee, personal attributes as well as skills of the people which are required for the proper selection of the employees to perform their jobs (Petraška et al. 2018). The legal requirements that are needed for the employee are the age of the employee, gender reassignment, and maternity as well as pregnancy for the women for the selection. In addition to this, the legal requirements also include the race of the people such as color, nationality, national origin of the people as well as race. In addition to this, the legal requirement for the selection also includes the sexual orientation it is about bisexual, gay, lesbian, and heterosexual. The legal requirement that is needed for the requirement is the mane of the selected employee, the title of the job, place of work, and job description.

Weaknesses and strengths regarding two methods that are used for selection and another two methods for recruitment

Table 4: Methods

Question 6

Reason for leaving or remaining within organizations

The reason behind leaving an organization includes less opportunity to enhance their careers as everyone aims to improve their career opportunities for moving towards an upward trajectory. It is common for people to have ambitions regarding the development of their skill set for taking on more responsibilities as well as challenging roles. Apart from this, the desire to get better compensation and career change is also included in the reason for leaving an organization (Rashidov and Rasulov, 2020). Lacking to fit with a specific culture of a company and bad management within the company are also considered to lower the motivation of the employees who are ultimately responsible for leaving a job. Satisfied employees choose to remain within a company as it leads to team belonging and respect for the respective organization (Zappettini, 2019). Apart from this, desired job opportunities and career development opportunities can be also involved in the reason for remaining within a company.

Summary of costs associated with dysfunctional employee turnover

Dysfunctional employee turnover occurs mainly when the positive employees within an organization leave voluntarily at high rates compared to weaker ones. There are a total of five cost structures that are associated with employee turnover severely. The initial one is the cost related to employer brand where for filling up the position of workers, the employer has to increase both time and "cost per hire". The second one is the cost related to employee development such as for training purposes and others (De Winne et al. 2019). The third one is the productivity cost that affected most due to high employee turnover as loss of productivity can raise customer dissatisfaction and affect the profit percentage severely. It is also observed that replacement of the staff is considered the more expensive one than retain them. Another cost structure is associated with the advertisement purpose of getting the attention of new employees to fill up the workforce gap (Belete, 2018). The last one is the cost related to "recruitment of replacements” which affects the revenue level of a firm mostly.

Strengths and weaknesses of two different approaches to retaining talent

Table 5: Strengths and weaknesses of talent retention approaches

Question 7

Advice on good and lawful practices for managing dismissal, retirement, and redundancies

Redundancy refers to a specific situation in which an employer can reduce their workforce within a particular event where it is not needed for a certain job. It is a fair reason for the dismissal however an e employer is required to be sure which can be related to the closure of a specific business due to a certain fall in the consumer’s demand (Štefko, 2019). To manage redundancy within the workplace, it is first needed to make sure that the situation is genuine. After that following of own procedures as well as policies is also considered an important part. Along with this, it is also needed to be made available for the employees who are affected. I am suggesting that within an organization when I can find myself at an employment tribunal, having satisfied myself to create a reason for redundancy, the dismissal. In addition to this, clear and good communication within the workforce is also effective according to me, especially for those people who got affected through redundancy.

Meaningful consultation is also effective in providing employees with adequate information regarding the situation from which they are known about financial entitlements along with the size of redundancy payments. As a manager, I also advise that several potential fail criteria such as sickness record, attendance, and performance record are needed to be used for making the selection criteria right. On the other hand, following disciplinary procedures, and gathering evidence are also considered for ensuring that the dismissal is well handled (Borghouts–van de Pas et al. 2021). Inviting employees for disciplinary meetings along with reconvening for communication regarding outcomes is also an effective method for managing dismissal. In my opinion, to take retirement, an employer needs to talk with the head of the company about retirement and leaving a positive legacy.

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