Communicating Recommendations | My Assignment Tutor

11Session 9:Communicating RecommendationsUnit 6: Managing a Successful Business ProjectTask 6: Communicate appropriate recommendations as aresult of research and data analysis to draw valid andmeaningful conclusions.Dr Reza Aboutalebi2OutlinesRecommendations to the company regarding itsoverall talent managementRecommendations to the company regarding itstalent recruitmentRecommendations to the company regarding itstalent developmentRecommendations to the company regarding itsretaining talented staffTalent management strategies23Project Theme:Talent ManagementYou have been employed as a Business Researcher byan organisation of your choice to run a project regardingthe existing talent management strategies and suggestnew talent strategies that need to be formulated andimplemented to attract and retain talented staff to supportthe competitive advantage of the organisation.Definition of Talent ManagementTalent management is the process by which businessesand organisations recognise and develop talented peoplewho can have a positive impact on their organisations andtheir productivity.Talent management is a constant process that involvesattracting and retaining high-quality employees, developingtheir skills, and continuously motivating them to improvetheir performance.The primary purpose of talent management is to create amotivated workforce who will stay with your company in thelong run.435RecommendationsTo the companyRecommendations to the company to improveits Talent ManagementYou need to make some recommendations to your chosencompany on how to have more effective talent management tosupport its competitive advantege.It is very important to make these recommendations based onfindings of your own research.You should see what you find after analyzing your conductedinterviews and questionnaires, then based on these findings makesome suggestions to your chosen company about:Improving overall talent managementImproving its talent recruitmentImproving its talent developmentImproving its retaining talented staff64Recommendations to the company to improveits overall Talent ManagementRecruit only talented managers with no need fordevelopment of current specialist staffRecruit only talented specialists with no need fordevelopment of current middle-level managersDevelop only current staff to become talented managersDevelop only current staff to become talented specialistsRecruit talented managers and develop other staffHire talented specialists and develop staff for managementRecruit talented top managers and develop middle-levelmanagers7Samples of Recommendations to the company toimprove its Talent RecruitmentIdentify functions/positions in the organisation thatneed talented staff at least twice a yearDetermine the number of required talented staff foreach function/positionPrepare a job description and person specificationsfor talented people for each function/positionAdvertise the vacancies for talented people insuitable platformsRecruit the most talented applicants as new staff85Samples of Recommendations to the company toimprove its Talent DevelopmentPrepare an updated and comprehensive talentdevelopment plan for the companyArrange required mentors, coaches or trainers fortalent developmentIdentify the current staff with potential talentDetermine the exact potential talent of each staffwith potential talentAllocate required resources for talent development ofeach staff with potential talent9Samples of Recommendations to the company toimprove Retention of its Talented StaffPay well to talented staffPromote faster the talented staffAcknowledge achievement of all staff especially thetalented staffTreat well all staff especially talented staffOffer flexible working option to talented staffRespect all staff especially talented staffKeep all staff satisfied especially talented staff106Talent Management StrategiesA talent management strategy should match yourorganisation’s goals and clearly define what type of talentyou need. You organise the talent management processbased on the talent management strategy. Three maintalent strategies are as follow:1. Strategy #1: Hire only top employees2. Strategy #2: Hire promising specialists and Develop them3. Strategy #3: Combine Strategies 1 and 2 by hiring topemployees and at the same time hiring and developingwho has the potential to become top employeesSource: Valamis (2019) 11 aetMaaemnStratgie: Strategy 1: Hire only top employeesAdvantages of Strategy 1You immediately receive toptalent.The employees will performwell and probably reach highperformance faster.You are able to grow yourcompany faster.You are more prepared forchallenges and risks.Disadvantages of Strategy 1It’s expensive, and will cost youeven more if you end up needingto hire someone else.It could be more difficult to retaintop talent.The hiring process may takelonger, as you’ll probably want toselect from a wider pool ofcandidates.It can be challenging to manageteam of top talent.Having too many top performerson a team can lead to competitionand result in underperformance.Source: Valamis (2019) 127 TalentMaagementtrategies: Strategy 2: Hire & develop staff with potentialAdvantages of Strategy 2You can find talent faster. Thismay be necessary if you are inurgent need for talent and haveinsufficient time to search for topemployees.You will likely save money onsalaries.The employee has the potentialto become a skilled and loyalprofessional.You can hire two, or even three,promising specialists for thesame amount as for one topperformer.Disadvantages of Strategy 2Your company may grow slower.Compared to top talent, thesehires lack of knowledge. Thiscan lead to lower performance.You may need to hire anotherspecialist if the employee cannothandle the role.It requires a larger investment indevelopment.The strategy may fail entirelyand you’ll need to revert tooption 1.Source: Valamis (2019) 13 aetMaaemnStratgie: Strategy 3: Hire top & with potential staffAdvantages of Strategy 3It gives you the best of bothworlds.It also allows you to takeadvantage of a combination ofnew hires and existing talent.Having top talent andpotentially good specialists(e.g. young employees) willhelp the specialists grow fasterand motivate them.It leads to knowledge transfer— top talent can teach otheremployees.Disadvantages of Strategy 3If you have specificrequirements (such as you arein urgent need of growth or ifyou are on a tight budget),sticking to a single strategymay be more appropriate.Source: Valamis (2019) 14


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