Factors that affect talent planning Essay

1. Introduction This report aims to assesses factors that affects organisations’ approaches towards: attracting talent; recruitment and selection (including an investigatory approach to specific methods used); obtaining a diverse workforce; the process of induction (including a model of an effective induction plan). 2. Attracting Talent 2.1 Brand Identity â€Å"‘Brand Identity’: How a business wants a brand’s name, communication style, logo and other visual elements to be perceived by consumers.† (www.investopedia.com 07/10/14) An organisation with positive image will find it easier to attract and retain employees than the organisation with the negative image, this is due to the aspiration qualities associated with a positive image (i.e. wealth, style, charitable nature etc). A business who hasn’t been well established in its market will find it more difficult to attract new employees than business who is well know, because it’s perceived to be more economically stable. 2.2 Economic Environment The economic stability and funds available to expend on recruitment will have a direct impact on the quality of recruitment processes. One way in which this affects recruitment is effect on how and where the company advertises,  premium recruitment sites charge high fees (however, have very high foot-fall), which non-established or struggling companies would not be able to afford, thus not reaching out to as wide an audience as more successful businesses. Another key factor is the salary and benefits that can be offered to potential employees, either showing competitive rates or lower rates, therefore reducing interest from potential employees. 2.3 Legal restrictions Laws also have influence on organisations’ approaches to attracting talent. For example The Agency Workers’ Regulations that came into force on 1st October 2011 (www.gov.uk/government/publications/agency-workers-regulations-2010-guidance-for-recruiters 07/10/2014). The regulations states that agency workers are entitle to the same working conditions as permanent staff after completing a 12 weeks period in a particular job. It is clear from the following quote that this has reduced agency staff recruitment substantially: â€Å"One-quarter of organisations report they reduced their use of agency worker in 2012 compared to 2011, rising to a third of large organisations† ( The 2013 Resourcing and talent planning survey report www.cipd.co.uk/hr-resources/survey-reports/resourcing-talent-planning-2013.aspx 07/10/2014) 2.4 Business Objectives The aims and suggested targets of businesses, has a direct influence on the amount of recruitment completed and in which manner. For example: if a business has agreed to take on a new contract, they will need to recruit swiftly and in high volume. However, if a recruiter aims to appoint a higher-managerial position within subsequent months they may need more specific and targeted recruitment to ensure the position is filled more effectively than simply swift, high-volume appointment. For the later it is more commonly seen to use a company’s career progression path( management succession planning ), recruiting or training from existing members of staff. This can have a positive impact on the company’s recruitment as a whole as it shows current and potential staff members that progression is available within the business. 3. Diverse Workforce 3.1 Increasing Productivity It is suggested that diversity in the workplace increases morale and thus employees work more efficiently and effectively. Rose Johnson of Demand Media goes on to say: â€Å"diversity within leadership in a firm allows managers to bring in new skills and methods for achieving unity within their teams.† (smallbusiness.chron.com/advantage-diverse-workforce-18780 07/10/2014) 3.2 Increasing Creativity Acas state: â€Å"having a diverse workforce†¦opens up a wealth of possibilities and helps to encourage and foster innovation.† (www.acas.org.uk/indesx.aspx?articleid=3725 07/10/14). People from different background, ethnic origin or age, will approach tasks in different manners, therefore gaining a wider range of outcomes to potential problems. 3.3 Positive Reputation The advantage of obtaining a diverse workforce is clear. â€Å"An organisation is well placed to understand the needs of a wide-range of customers, interacting with a larger client base.† (www.acas.org.uk/indesx.aspx?articleid=3725 07/10/14). This therefore means that companies with a diverse recruitment policy will be more likely to gain customers and be generally more successful in their market. Clearly a company who recruits diversely does not discriminate, which is another characteristic consumers, potential employees and recruiters will aim to be associated with. 4. Factors that affect recruitment and selection 4.1 Labour market Labour market is : ,,..the market in which employers look and compete for workers and in which workers look and compete for employment ..† (http://www.collinsdictionary.com/dictionary/english/labour-market 10/10/2014) tight/ loose 4.2 Legislations National min wage /eligibility to work in the UK/the Equality Act 2010 4.3 Business context