5HR02 Talent Management and Workforce Planning

Question

Task One – Presentation Pack

The MD has asked you to prepare a presentation to the managers to position them around key contemporary labour market trends and their significance for workforce planning. This will also cover turnover and retention trends and the factors that influence why people choose to leave or remain. The pack needs to include presentation slides and supporting notes.

The presentation must include:

  • an explanation on how organisations strategically position themselves in competitive labour markets. (AC 1.1)
  • an explanation of the impact of changing labour market conditions on resourcing decisions. (AC 1.2)
  • a discussion on the role of government, employers and trade unions in ensuring future skills needs are met. (AC 1.3)
  • an examination of turnover and retention trends and the factors that influence why people choose to leave or remain (AC1.4)

It is essential that you refer to current labour market and turnover and retention trends / conditions to ensure that your work is contemporary and relevant. Please ensure that any references and sources drawn upon are acknowledged correctly and supported by a bibliography.

Task Two – Inhouse Manual

Chapter 1 – Workforce Planning

  • an analysis of the impact of effective workforce planning. (AC 2.1)
  • an evaluation of the techniques used to support the process of workforce planning

(AC 2.2)

  • explain approaches to succession and contingency planning aimed at mitigating workforce risks. (AC 2.3)
  • assess the strengths and weaknesses of different methods of recruitment and selection to build effective workforces (AC 2.4)

Chapter 2 – Talent Management

  • compare different approaches to developing and retaining talent on an individual and group level. (AC 2.5)
  • evaluate approaches that an organisation can take to build and support different talent pools. (AC 2.3)
  • evaluate the benefits of diversity in building and supporting talent pools (AC 2.4)
  • explain the impact associated with dysfunctional employee turnover. (AC 2.5)

Chapter 3 – Contractual Arrangements and Onboarding

  • Assess suitable types of contractual arrangements dependent on specific workforce (AC 4.1)
  • Differentiate between the main types of contractual terms in contracts. (AC 1.2)
  • Explain the components and benefits of effective onboarding. (AC 1.3)

Solution

Slide 1

Agenda

  • This presentation is offered to the managers for positioning them around key contemporary labour market trends and significance of workforce planning
  • Also, the turnover and retention trends and factors influencing people opting for leaving or remaining is evident
  • For all the learning outcomes, they are categorised into 3 slides with all the answers being put into account
  • The government, employers and trade unions to ensure future skills needs are successfully met

Notes

Welcome to this presentation. It includes a presentation to managers in regard to positioning them around key contemporary labour market trends and significance for workforce planning. It will offer relevant insights on turnover and retention trends and set of factors influencing people choosing to leave or remaining in an organisation.
Slide 2

1.1 Labour Market and Competitive Positioning

  • Labour market is place for workers and employees interacting with each other (CFI, 2021)
  • There are strategies and theories defining an organisation strategic positioning
  • Positioning in a competitive positioning can be through;
    • Employees lifecycle
    • Employee value proposition
    • Employer brand
    • Employer of choice

Notes

Adopting the definition of Investopedia, (2021), the labour market is identified as the area of workers and employees interaction with each other. Further, CIPD, (2021a) note that market demand of labour is identified through the number of individuals working (employment) how much they work (hours) and the number of unfilled job vacancies. For an organisation to leverage on the opportunities presented in such a labour market, strategic positioning is instrumental.

Slide 3

1.1 Theories of strategic positioning

  • Strategic positioning can be described as approach adopted by an organisation to be distinct in their market pf operation
  • While ensuring they gain market dominance and profitability, they similarly ensure their customers satisfaction is prioritised
  • Increased value in employees and customers is core
  • Ansoff’s matrix can be used to demonstrate a series of strategies applicable for an organisation positioning for growth and risks analysis linked to strategy (CFI, 2021a).
  • Snow and miles entails a description that organisations development is dependent on stable patterns of strategic behaviour (Gimenez, 1999)

Notes

A set of strategies and approaches are applicable as positioning strategy by organisations. According to CIPD, (2021a), through strategic positioning, it is possible for an entity differentiating itself through an active comparison with their competitors in a market environment. This is in tandem with value created and how this is distinct.

Through a reference on Ansoff’s Matrix, CFI, (2021a) identify organisations as increasing sales of existing prodicts to a specific market. This is while product development and market development establisning new products and entering new markets. This is with Miles and Snow’s Strategy (Haj Youssef & Christodoulou, 2017) evidencing the scope in which organisations in a general context establish a relatively stable patterns of strategic behaviour for accomplishing good alignment with environmental conditions.

1.2 Tools for competitive positioning

  • Organisations competitive positioning is achieved through employee value proposition, becoming an employer of choice and employer brand
  • Also, employer life cycle is critical as it evaluates the overall relations between an employee and organisation they are working for (AIHR, 2021a)
  • Employer brand is applied to manage and influence reputation of an employer amongst job seekers, employees and core stakeholders

Notes

A set of approaches are applicable in evidencing an organisation positioning in a labour market.

Employee life cycle– As evidenced in Sprigghr, (2020), these stages include attraction, recruitment, onboarding, development, retention and separation. By adopting these phases, an organisation si able to become unique in a labour market hence appropriate positioning.

Employees Value Proposition–  This is identified in MichaelPage, (2021) as the unique set of benefits an employee is offered in return for skills, capabilities and experiences brought to an organisation. Strong employee value proposition is applied for assisting in retaining top performers and atteracting best external talents.

Becoming an employer of choice– This is identified as an organisation characterised with attractive culture, business environment and appropriate leadership attracting the best talents (PMJobs, 2019). Such organisations are ranked in AwardList (2021) which provides details of the 100 best organisations or great place to work.

Slide 4

1.2 Labour Market Conditions

  • The resourcing of the best talents is directly impacted by labour market conditions
  • Labour market segments can be categorised into;
    • International/local
    • Internal/external
    • Skilled and skills-mismatch
  • Tight labour market is almost full of employment and resourcing a significant challenge (Ezy Education, 2021)
  • Loose market has multiple available potential talents with job applicants being many for few available opportunities

Notes

In a labour market, the existing conditions directly impact on resourcing approaches. Merkel (2019) hence categorises the labour markets conditions as either tight or loose. Tight is where there are many opportunities available to be filled with less potential employees to fill them with loose characterised with saturation.

Slide 5

1.2 Labor Market Analysis and Trends

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