Article 3 - Talent Management & Employee Resourcing
Talent Management and Employee Resourcing are two key components of Human Resource Management (HRM) that focus on acquiring, developing, and retaining the best-suited individuals for an organization's workforce.( Danao, 2022)
Talent
Management
Talent Management refers to the strategic process of attracting, identifying, developing, and retaining a pool of talented individuals within an organization to meet its present and future business needs. It involves activities aimed at maximizing the potential and performance of employees. Talent Management encompasses several key elements, including: (Pollock, n.d.)
v Talent Acquisition: - The process of recruiting and
hiring individuals with the necessary skills, qualifications, and attributes to
fulfill specific job roles. (Pollock, n.d.)
v Talent Development: - Providing training, education,
mentoring, and opportunities for growth
to enhance the skills and capabilities of employees, enabling them to take on
higher responsibilities. (Pollock, n.d.)
v Succession Planning: - Identifying and preparing
high-potential employees to assume leadership and critical roles within the
organization as part of a long-term strategy. (Pollock, n.d.)
v Performance Management: - Regularly assessing and evaluating employee performance, providing
feedback, and aligning individual goals with organizational objectives. (Pollock,
n.d.)
v Employee Engagement and Retention: -Creating a positive work
environment, fostering employee loyalty, and implementing initiatives to retain
top talent and reduce turnover. (Pollock, n.d.)
Talent Management aims to ensure that
an organization has a competitive advantage by effectively utilizing the
skills, knowledge, and abilities of its workforce to drive business success. (Pollock,
n.d.)
Employee Resourcing
Employee Resourcing, also known as Workforce Planning or Human Resource Planning, involves the systematic process of determining an organization's current and future staffing needs, and then acquiring, deploying, and utilizing human resources to meet those needs. Employee Resourcing encompasses various stages: (Chron.com, n.d.)
Workforce
Planning: - Identifying the types and numbers of employees needed to achieve
organizational goals and objectives. It involves forecasting labor demand and
supply, considering factors such as turnover, retirement, expansion, and market
trends. (Chron.com, n.d.)
Recruitment:
- Actively
seeking and attracting qualified candidates to fill job vacancies. Recruitment
methods include job postings, referrals, social media, and external agencies. (Chron.com,
n.d.)
Selection: - Assessing and choosing the best-suited candidates from the pool of
applicants based on their qualifications, skills, and compatibility with the
organization's culture. (Chron.com,
n.d.)
Onboarding:
- Introducing
and integrating new employees into the organization, providing them with the
necessary information, training, and support to become productive members of
the team. (Chron.com, n.d.)
Retention
and Turnover Management: - Implementing strategies to
retain valuable employees and minimize turnover, which can include competitive
compensation, benefits, career development, and work-life balance initiatives. (Chron.com,
n.d.)
Employee
Resourcing aims to ensure that an organization has the right people in the
right positions at the right time to effectively carry out its business
activities. Both Talent Management and Employee Resourcing are crucial aspects
of HRM, contributing to an organization's ability to attract, develop, and
retain a skilled and motivated workforce to achieve its strategic objectives. (Chron.com,
n.d.)
How will Talent Management & Resourcing
helps the Hospitality industry
Talent Management and Employee Resourcing are crucial aspects of the hospitality industry, as they play a significant role in ensuring the success, efficiency, and overall quality of service delivery. Here's how these practices can be beneficial: (Anon, 2018)
1. Quality Service Delivery: - In the hospitality industry,
customer satisfaction is paramount. Effective talent management and employee
resourcing ensure that the right individuals with the necessary skills,
attitude, and experience are hired and trained to deliver exceptional customer
service. This enhances guest experiences and fosters positive reviews and
repeat business. (Anon, 2018)
2. Employee Retention and Engagement: - Implementing talent
management practices such as training, career development, and performance
management can lead to increased employee satisfaction and loyalty. Engaged and
motivated employees are more likely to stay with the organization, reducing
turnover and the associated costs of recruitment and training. (Anon, 2018)
3. Skill Development: - The hospitality industry offers a
diverse range of roles, from front-line staff to management positions. Talent
management involves identifying skill gaps and providing training programs to
upskill employees. This not only improves the capabilities of the workforce but
also enables employees to take on more responsibilities and advance within the
organization. (Anon, 2018)
4. Succession Planning: - Effective
talent management includes planning for the future by identifying and grooming
high-potential employees for leadership roles. This ensures a smooth transition
when key positions become vacant and reduces the risk of leadership gaps. (Anon,
2018)
5. Adaptation to Industry Trends: - The hospitality industry is dynamic and subject to changing customer
preferences and industry trends. A robust talent management strategy allows
organizations to quickly adapt by identifying and developing skills that are in
demand, such as technological proficiency or cultural sensitivity. (Anon, 2018)
6. Cost Efficiency: - Employee
turnover can be expensive due to recruitment, training, and lost productivity.
Strategic talent management can reduce turnover rates, resulting in cost
savings for the organization. (Anon, 2018)
7. Diverse Workforce: - The
hospitality industry serves a wide range of customers from various backgrounds.
Effective talent management promotes diversity and inclusivity, allowing the
workforce to better relate to and serve a diverse clientele. (Anon, 2018)
8. Employee Morale and Well-being: - Employee resourcing involves ensuring that there is an adequate
staff-to-guest ratio to prevent employee burnout and maintain a healthy
work-life balance. This contributes to higher morale, job satisfaction, and
overall well-being of the workforce. (Anon, 2018)
9. Branding and Reputation: - A well-managed and highly skilled
workforce contributes to a positive brand image and reputation. Word-of-mouth
recommendations and online reviews often highlight exceptional service, which
can attract more customers to the business. (Anon, 2018)
10. Competitive Advantage: - A skilled and engaged workforce
can provide a competitive advantage in the hospitality industry. Organizations
with a reputation for excellent service and satisfied employees are more likely
to stand out and thrive in a competitive market. (Anon, 2018)
In
summary, effective Talent Management and Employee Resourcing practices are
invaluable for the hospitality industry, contributing to improved service
quality, customer satisfaction, employee retention, and overall business
success.
Conclusion:
In
conclusion, effective talent management and employee resourcing are crucial
components of a successful and sustainable organization. By strategically
identifying, attracting, developing, and retaining top talent, businesses can
gain a competitive edge in today's dynamic and competitive landscape. Talent
management involves a holistic approach to nurturing employees' skills,
knowledge, and potential. It encompasses processes such as recruitment,
onboarding, training, performance management, and career development. When
organizations invest in their employees' growth and well-being, they create a
positive work environment that fosters innovation, productivity, and employee
satisfaction.
Employee
resourcing, on the other hand, focuses on aligning the right people with the
right roles at the right time. It involves workforce planning, recruitment
strategies, and talent acquisition methods. Effective employee resourcing
ensures that organizations have the necessary human capital to meet their
strategic goals and adapt to changing market conditions.
A
symbiotic relationship exists between talent management and employee
resourcing. Organizations must not only attract top talent but also have
mechanisms in place to develop and retain them. This requires a deep
understanding of employees' aspirations, continuous learning opportunities, and
a supportive organizational culture.
In
a rapidly evolving business landscape, where technological advancements and
market shifts are constant, organizations that prioritize talent management and
employee resourcing are better positioned to navigate challenges and seize
opportunities. By creating a culture of learning, growth, and adaptability,
businesses can build a resilient workforce that contributes to long-term
success.
In
conclusion, talent management and employee resourcing are not isolated processes;
they are interconnected strategies that contribute to organizational
excellence. Embracing these practices can lead to improved employee engagement,
higher retention rates, enhanced innovation, and ultimately, a stronger
competitive advantage in the marketplace.
References:
Danao,
M. (2022). What Is Talent Management? – Forbes Advisor. [online]
www.forbes.com. Available at: https://www.forbes.com/advisor/business/what-is-talent-management
Pollock,
S. (n.d.). 7 Key Components of Talent Management | ClearCompany.
[online] blog.clearcompany.com. Available at: https://blog.clearcompany.com/what-are-the-key-components-of-talent-management
Chron.com.
(n.d.). Brief Description of Employee Resourcing. [online]
Available at: https://smallbusiness.chron.com/brief-description-employee-resourcing-15995.html
Anon, (2018). The Best HR Practices In The Hospitality
Industry - Louis Carter. [online] Available at:
https://louiscarter.com/best-hr-practices/.
Agreed, Talent Management involves strategically attracting, developing, and retaining skilled individuals within an organization to meet its current and future needs. Employee Resourcing, also known as Workforce Planning, is the systematic process of determining staffing needs and acquiring, deploying, and retaining human resources to meet those needs (Felix, J.M.C., - 2016).
ReplyDeleteThank you for your comment. Absolutely, your concise definition of Talent Management and Employee Resourcing is on point. Talent Management encompasses the holistic approach of nurturing and retaining skilled individuals in alignment with organizational goals. Meanwhile, Employee Resourcing systematically addresses staffing needs by acquiring and retaining human resources effectively. Your insights aptly capture the essential concepts within HR, highlighting the strategic importance of managing talent while ensuring workforce optimization.
DeleteAgreed, Talent Management and Employee Resourcing are the cornerstones of HRM that enable organizations to navigate complexities, seize opportunities, and ultimately achieve greatness. Embracing these practices elevates organizations from mere survival to resounding success in today's ever-evolving business landscape (Turner,2022).
ReplyDeleteThank you for your comment. I concur that Talent Management and Employee Resourcing form the foundation of effective HRM. They empower organizations to excel by addressing challenges, capitalizing on prospects, and attaining excellence. By embracing these strategies, companies can progress from mere survival to remarkable success amidst the dynamic business environment (Turner, 2022).
DeleteI agree with you Talent Management and Employee Resourcing are essential HRM practices for acquiring, developing, and retaining suitable individuals for an organization. Talent Management involves talent acquisition, development, succession planning, performance management, and employee engagement, while Employee Resourcing involves staffing needs planning, recruitment, selection, onboarding, and retention.
ReplyDeleteTalent management (TM) is an important in every sector and, even an “imperative” (Barlow, 2006, p. 6), topic around the world (Berry, 2007; Birschel, 2006; Jenkins, 2006; Powell and Lubitsh, 2007). Likewise, it is prominent in “the world of HR” in the UK (Chartered Institute of Personnel and Development (CIPD), 2006a, p. 1). A sense of this importance and prominence can be seen in the expression “war for talent” which is often connected to TM. With its relative recency and high topicality, there are several if not numerous interpretations of TM as a concept. A key factor in understanding TM is, according to the CIPD (2006b, p. 3), the industry context of industry. Maxwell, A. G., & Maclean, S (2008)
Thank you for your comment. Absolutely, I share your perspective on the significance of Talent Management and Employee Resourcing in HRM. These practices encompass various crucial aspects such as acquisition, development, and retention of capable individuals within an organization. Talent Management covers a spectrum of functions, including performance management and engagement, while Employee Resourcing involves planning, recruitment, and onboarding. The global importance of Talent Management is evident through references like the "war for talent," emphasizing its relevance in today's HR landscape. Diverse interpretations of Talent Management exist, with contextual factors playing a key role (Maxwell & Maclean, 2008).
DeleteTalent management and employee resourcing are vital HR practices that ensure organizations acquire, develop, and retain the right talent. Effective strategies encompass recruitment, onboarding, skill development, and succession planning. These practices foster a skilled workforce, enhancing organizational performance and adaptability in today's dynamic business landscape.
ReplyDeleteNice article and a good read.
Thank you for your positive feedback! I'm glad you found the article informative. Indeed, talent management and employee resourcing are crucial pillars for organizations seeking success in a dynamic business environment. By focusing on recruitment, onboarding, skill enhancement, and succession planning, companies can cultivate a capable workforce that drives performance and adaptability. These strategies are essential for sustained growth and competitiveness.
DeleteYes, indeed as you stated, effective talent management and employee resourcing are crucial components of a successful and sustainable organisation an also it allows for workers to fine-tune and further develop the critical skills needed to meet their performance goals and to help the company complete its strategic goals.
ReplyDeletethank you for your comment. you've highlighted a key point. Talent management and employee resourcing not only drive organizational success but also empower employees to refine crucial skills, aligning with performance and strategic objectives. This symbiotic relationship between individual growth and company achievement underscores the significance of a well-rounded approach to talent development, resulting in a win-win scenario for both employees and the organization.
DeleteA very interesting and informative article Gayathri! Thanks for your valuable time and effort invested in formulating the same. I agree with your article. Employee resourcing and talent management are crucial HR procedures that guarantee businesses find, develop, and hold onto the best personnel. Article published by Duncan, L., (2021) provides a timely and updated insight into how HRM practices effect and benefit the hospitality industry. I recommend this article to be read.
ReplyDeleteThank you for your comment. Employee resourcing and talent management are indeed pivotal in ensuring a skilled and engaged workforce. Duncan's ( 2021) appears to be a valuable resource for understanding the impact of HRM practices in the hospitality industry. I appreciate your recommendation, and I encourage others to explore it for further insights into this critical area of HR. Thank you for your thoughtful comment and for taking the time to engage with the topic!
DeleteHi,
ReplyDeleteYour analysis of Talent Management and Employee Resourcing is excellent. You've provided a comprehensive overview of these key components of HRM and their significance within the context of the hospitality industry. Your explanation of various elements within Talent Management, such as acquisition, development, succession planning, and more, shows a deep understanding of the subject. Your insights into how these practices benefit the hospitality industry, from delivering quality service to enhancing employee morale and competitiveness, are insightful and well-articulated. Your conclusion effectively highlights the symbiotic relationship between these practices and how they contribute to organizational excellence. Overall, your article showcases a thorough understanding of the topic and its practical implications. Well done.
Thank you so much for your kind and detailed feedback. I'm thrilled to hear that you found the analysis of Talent Management and Employee Resourcing valuable. It's encouraging to know that the various elements and their significance within the hospitality industry were well-explained. I appreciate your recognition of the symbiotic relationship between these practices and their impact on organizational excellence. If you have any more questions or topics you'd like to explore, please don't hesitate to ask. Your feedback motivates me to continue providing insightful content.
DeleteAbsolutely, you've highlighted the fundamental pillars of HRM with precision. Talent Management and Employee Resourcing form the cornerstone of any successful organization's HR strategy. Talent Management orchestrates the entire lifecycle of identifying, nurturing, and harnessing the potential of exceptional individuals. On the other hand, Employee Resourcing delves into the strategic art of sourcing, recruiting, and placing the right talent in the right positions. Together, these components craft a dynamic HR ecosystem that fuels an organization's growth, innovation, and sustained success. Your succinct explanation beautifully captures their essence.
ReplyDeleteI truly appreciate your thoughtful and insightful comment. Your succinct summary beautifully encapsulates the significance of Talent Management and Employee Resourcing as the foundation of effective HR strategies. Indeed, they are essential in shaping a dynamic HR ecosystem that drives growth, innovation, and long-term success for organizations. It's heartening to see your recognition of their pivotal role, and I'm pleased that the article resonated with your perspective. If you have any further questions or insights to share, please feel free to do so. Thank you for your engagement Maclean, S (2008)
DeleteYour comment provides a concise and insightful summary of the article on Talent Management & Employee Resourcing. You've effectively highlighted the significance of both aspects in Human Resource Management, detailing the various components of Talent Management, including talent acquisition, development, succession planning, and employee engagement. Your explanation of Employee Resourcing, covering workforce planning, recruitment, selection, onboarding, and retention, is comprehensive. Additionally, you've aptly emphasized the relevance of these practices in the context of the hospitality industry, showcasing their impact on service delivery, employee retention, skill development, and overall competitive advantage. Your conclusion effectively captures the key takeaways from the article. Well done!
ReplyDeleteThank you for your thoughtful and comprehensive feedback. I'm delighted to hear that the summary of Talent Management and Employee Resourcing resonated with you. Your recognition of the various components and their relevance in the hospitality industry is much appreciated. It's encouraging to know that the article effectively conveyed the key takeaways. If you have any more questions or insights to share, please feel free to do so. Your engagement and feedback are truly motivating. Thank you
DeleteHi, the concept is discussed well . When it comes to the concept of employee engagement it is tightly linked to empowerment. When employees experience a genuine purpose and attachment to their tasks, they proactively invest in their responsibilities. This theory covers the areas of talent acquisition, Training Developments , Succession planning. Also covers the work place engagements , Recruitment and selection processes. In addition to that the components craft a dynamic HR ecosystem that fuels an organization's growth.
ReplyDeleteAbsolutely, you've made an excellent point about the close relationship between employee engagement and empowerment. When employees feel a genuine sense of purpose and connection to their roles, they are more likely to take initiative and invest in their responsibilities. This concept indeed extends its influence across talent acquisition, training and development, succession planning, and workplace engagement. Together, these elements create a dynamic HR ecosystem that not only fosters individual growth but also fuels overall organizational success and innovation. Your insights further highlight the importance of holistic HR strategies.
DeleteNice work Gayathri! You have addressed the talent management elements and you have specifically mentioned the situation in the hospitality industry. As there is an issue is skills shortage in this industry in Sri Lanka, you can also find solutions for that through talent management.
ReplyDeleteAccording to Chung and D’Annunzio-Green (2018), Talent management can be defined as "activities and processes that involve the systematic identification of key positions which differentially contribute to the organization’s sustainable competitive advantage, the development of a talent pool of high potential and high performing incumbents to fill these roles, and the development of a differentiated human resource architecture to facilitate filling these positions with competent incumbents and to ensure their continued commitment to the organization. " However, are there any related theories for talent management in order to overcome the skills shortage in the hospitality industry?
Thank you for your positive feedback, and I appreciate your insightful comment. Addressing the skills shortage in the hospitality industry in Sri Lanka is indeed a critical concern. Talent management can play a pivotal role in finding solutions to this challenge. While the definition by Chung and D’Annunzio-Green (2018) provides a comprehensive framework, specific theories related to talent management in the hospitality industry might include theories on skill development and retention, cross-training, and partnerships with educational institutions. These theories can guide strategies to attract, nurture, and retain talent in the industry, ultimately helping to overcome the skills shortage.
DeleteHi
ReplyDeleteThis conclusion beautifully sums up the symbiotic relationship between talent management and employee resourcing. It's evident that these two components are not isolated processes but rather integral strategies for achieving organizational excellence.
Thank you for your kind feedback. I'm pleased to hear that you found the conclusion resonated with the interconnectedness of talent management and employee resourcing in the pursuit of organizational excellence. Indeed, these strategies work hand in hand to create a harmonious and effective HR ecosystem. If you have any further questions or insights to share, please feel free to do so. Your engagement is truly appreciated, and I'm here to provide more information or address any queries you may have.
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