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Four factors that affect an organisations approach to talent

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    Economic environment: whilst the economy is on a down turn and there are a large amount of unemployed the company may have more than normal candidates to choose from and the possibility of taking on employees at a higher level, however once the economy takes an upturn and the job market improves the employees may move on unless the company provides a competitive salary/benefits package or prospects for development.

    Benefits: a benefits package is added value to an employee, if flexibility is offered within the package, to reflect the age, family needs and life style of a candidate this will attract a wider range of applicants and help to retain existing employees. Training and Development: will attract more candidates who are looking to expand their skills and better their careers; this will also help to retain staff within the company as they will be encouraged to apply for promotions or move within the company.

    Location of the place of work: if it is out of town with no public transport links or good road networks to the location the company would attract fewer candidates. A lot of employees don’t like to travel too far to work and prefer to work nearer home. In a less populated area a company would have to look further a field as the job skills may not be available in the area. Three benefits of attracting and retaining a diverse workforce Increase in profit: Companies can use their employees to help with their understanding of the needs of our multicultural society.

    As an example: within a retail employees could advise the company on specialised products to sell, in turn this could encourage more sales within the store and potentially increase profit. Increased levels of customer service: A diverse workforce will increase the levels of customer service; it can provide help with language barriers and the understanding of different needs within cultures. Age is also a factor, older customers do not always relate well to younger employees in a service environment and vice versa.

    A diverse work force will encourage a diverse customer base in turn a higher customer service level will increase the amount of customers. Increases the talent pool within a company: employees are often encouraged to apply to and work for a company with a diverse workforce, candidates/employees who have experienced a diversity in their every day lives or whilst in education will apply, this increases the talent pool available to the company and increases the chance of finding the best candidate for the job.

    Three factors that affect an organisations approach to recruitment Cost: Recruitment can be costly to a company and if the talent pool is not directly available they may have to pay for recruitment for example by using an employment agency. If a vacancy is not filled within the required time scale the company may use agency staff to cover the work load with additional costs incurred in comparison to a company employee.

    Time Scales: If a vacancy is for a specialised position, the company may have to look further a field for the ideal candidate. This can result in additional time taken for recruitment this in turn could put extra stress on the existing work force whilst they have to carry out additional work and customer service levels could be affected as a result. The company could also hurry the process to avoid this and result in the wrong person being employed hence the process could need to be repeated in the near future.

    Type of Role: A vacancy that doesn’t require definitive skills could result in a high level of candidates applying which in turn can make the recruitment process longer by having to sift through all of the applications or can result in fewer applications depending on the geographical economy. Recommendation to the company by existing employees can help, saving time and resulting in the ideal candidate for the job. Recruitment methods.

    Local career/recruitment fairs: The Company has a stand at the fair to advertise the job vacancies with recruitment material i. e. application forms, job descriptions etc, representatives from the Company such as Human resources and department managers speak directly to the potential candidates giving details of the company and vacancies available. Applications/CV’s, or details from the candidates are taken at the point of contact. Job centres: Job vacancies are advertised through the job centre at no cost.

    The company has a online account with the job centre details, of the vacancy are uploaded onto the online system the vacancy will then be advertised not only in the local job centre but also on line therefore the vacancy will have a wider geographical audience. Company website: the company advertises their vacancies on their own website with a job description etc. A section of the site is linked to the main page and the candidate completes a generic form for personal details this is then linked to the application form or a link to upload a CV.

    It can also be linked to a company’s online recruitment system. Selection methods Structured Interview: Is developed from the traditional interview process, rather than asking questions based on the candidate’s application form questions are asked to allow the candidate to demonstrate certain competencies for example, “can you tell us about a situation when you updated a process and why? ” The same questions and standardised score sheet are used for each applicant therefore allowing a fare process.

    Assessment centre: a selection of the following: Interview Psychometric test Role play In- tray exercise Group exercise Presentation Social side This process is used to give a good overview of all the candidates their strengths and weaknesses. A selection panel assesses the candidates as they complete each task by marking paper exercises which have an exact required outcome or rating by observations with a defined marking system, once the marks are collated the panel then discuss as a whole before a final decision is reached.

    Psychometric Test: through a company such as the McQuaig institute, the tests can be used for all levels of staff from senior management to semiskilled staff and can consist of one of or both of the following; an aptitude test consisting of a english, numeric, 3 dimentional thought and job/subject specific tests. Secondly a personality test which is aimed at finding types, there is no right or wrong answer. The company can use the information provided by a report as to whether the candidate has the potential, the right temperament or other criteria required to suit the needs of the job. Purpose of induction and benefits:

    The induction process is aimed at giving the employee a clear out line of the job requirements, with details of the company’s structure showing how the employee will fit into the team and outlines the function and aims of the company. The new recruit will be integrated into the company easier giving them confidence and a feeling of belonging; it keeps the them busy in the initial stages of employment allowing them to have a structured and easier settling in period, as well as providing valuable information. It creates a good impression of the company, helps to retain employees, giving a return on the time and money invested.

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    Four factors that affect an organisations approach to talent. (2016, Sep 15). Retrieved from https://graduateway.com/four-factors-that-affect-an-organisations-approach-to-talent/

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