Factors affecting Talent Planning Essay
Factors affecting Talent Planning
There are many different factors that affect an organisations approach to attracting talent and are both internal and external factors. Some examples of internal factors are the size of a business. A larger business would find it much easier to source this could be because they are more well-known to the public and they would also be more financially able to advertise a post to get a larger range of applicants. Recruitment policies also have an effect ie recruiting from internal sources and external sources can affect the recruitment process. Generally recruitment through internal sources is preferred because own employees know the organisation and can fit well into the culture. The Image of the company has influence on the recruitment process. Good image of the company earned by the actions of management helps attract potential candidates.
Managerial actions like good public relations can help earn image. Image of the job also has an affect such as better salaries and good working conditions are considered the characteristics of good image of a job. Also, promotion and personal development policies of an organisation also attract potential candidates. Some examples of external factors are Demographic factors; employees have a big influence on the recruitment process. Demographic factors include, age, sex, literacy, economic status etc. Labour market conditions have an affect ie supply and demand of labour is a huge importance in affecting recruitment process. If the demand is for more than one particular skill recruitment will be relatively easier.
Unemployment situation has an effect. When the employment rate in an area is high, the recruitment process tends to be simpler. The number of applications is higher which makes it easier to attract the best qualified applicants. With a low rate of unemployment, recruiting process tends to become more difficult. Labour laws that cover working conditions, compensation, retirement benefits.
This report identifies and assess factors that affect an organisations approach to both attracting talent and recruitment and selection. It also identifies and explains benefits of attracting and retaining a diverse workforce, describes methods of recruitment and methods of selection.
Factors that affect an organisations approach to attracting talent For an organisation to attract talent successfully, as part of the talent planning policy it needs to identify and assess what factors affect its approach to attracting talent. For example: 1. Economic Environment – An organisation needs to consider what money is available to spend and this will depend on the current climate at the time. This in turn, will have an effect on how and where the company advertises externally, in addition to the salary and benefits offered.
2. Laws – There are laws that affect the way an organisation attracts talent. For example; the Equality Act 2010 protects again discrimination and affects how the organisation words adverts, application forms, job description, person specifications and questions asked during interviews. Wording must not be discriminative and this can be done by ensuring it does not contain personal prejudice, is not being objective, unfair or showing less favourable treatment for an unlawful reason e.g. Age, gender or disability.
3. Branding – A company with a good reputation, is more likely to successfully attract the right talent to its organisation. To do this, an organisation relies heavily on being perceived as being known as a good employer and needs to take a proactive approach by offering career development, in addition to remuneration and rewards.
4. Culture – The culture of the organisation can be part of what keeps employees engaged and makes the organisation differ positively from competitors. For example, an organisation may be friendly or collaborative – something that new talent…