(Solution) CIPD New 5HR02: Talent Management and Workforce Planning
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Table of Contents
Task- A Written Response to Questions. 2
1.1 Competitive labour market. 2
Assessment of Interviews and Job References as Methods of Selection. 9
3.4 Diversity and talent pools. 12
3.5 Indirect and Direct costs of dysfunctional turnover 13
4.1 Zero hour and contractor contracts. 14
4.3 Benefits and Onboarding. 16
Task- A Written Response to Questions
1.1 Competitive labour market
According to the CIPD (2022a), competitive labor markets arise when there is a strong demand and a restricted supply for competent workers. Employers now have to fight hard to draw in and keep top personnel as a result of this. Employment circumstances are set by the labor supply and demand equilibrium. Employers strategically position themselves in competitive markets by managing their corporate image, cultivating an employer of choice reputation, and implementing employer branding. To differentiate itself from rivals, businesses such as SunEnergy must adopt a strategic strategy.I will examine SAP’s strategy as an example for SunEnergy to take into consideration in order to clarify how strategic positioning operates. Global software giant SAP is well-known for its employer branding and standing as a top employer.
Employer of Choice
SAP is committed to creating a compelling employer brand that attracts prospective employees. It places a focus on equitable pay, chances for professional advancement, work-life balance, and a pleasant workplace culture (Hub, 2023). Using renewable energy initiatives to demonstrate SunEnergy’s commitment to sustainability could help the company build an employer of choice brand. Training programs, flexible work schedules, and competitive pay would all aid in luring top personnel.
Employer Branding
SAP uses strategic employer branding to improve its reputation as an attractive place to work (Lybrand, 2018). To persuade prospective employees that SAP is a fantastic place to work, it shares its mission and core values. To create a strong employer brand across a range of media, SunEnergy might highlight its sustainability objectives, cutting-edge technological advancements, and staff success stories.
Organizational Image
Through corporate social responsibility programs, operational excellence, and financial transparency, SAP maintains its reputation in the market (Lievens, 2017). To build trust and perception among prospective employees, SunEnergy may want to think about taking part in community service programs, partnering with reputable organizations, and attending industry events. Effective communications both inside and outside the company are also crucial.
1.2 Changing labour market conditions in the UK
Labour Market: Employers and employees negotiate salary ranges, work schedules, and other employment-related matters in the labor market. The CIPD (2017) states that wages increase and competition for available workers intensifies in competitive labor markets. A “loose labour market,” defined by subordinate wages and less ferocious competition for top talent, arises when there are less open opportunities and a greater number of competent applicants, claims CIPD (2022b). In a “tight” labor market, Companies that want to recruit and keep the top workers may decide to increase compensation and provide greater opportunities for promotion.
A PESTLE research can be used to forecast future shifts in the UK labor market. Here are two examples of how the labor market is currently doing and the impact they are having on resourcing decisions.
Adoption of new technologies: AI, automation, and robotics change the nature of work. Jobs and skills are changing as a result. Works (2017) provides an example of how this impacts skill sets and jobs. The employment market’s adoption of technology is impacted by both industry and geography. According to the McKinsey Worldwide Institute, 22 percent of the global economy makes use of digital labour technologies. Its ascent will be dramatic. World Economic Forum projections indicate that half of all jobs will require reskilling due to technological advancements in the next decade (Sneader & Singhal, 2021).
Technological advancements affect a company’s resource utilization since new systems necessitate employee training. It may be required to retrain staff, make investments in automation and artificial intelligence, and hire technical specialists.
Political Shifts: According to Maida and Peri (2018), settlement and minimum wage laws can have a big effect on the reduced and job market. Changes in immigration laws will impact the availability of jobs across a number of industries. According to Alex (2023), immigration laws increase earnings while reducing employment. Raising the minimum wage could facilitate low-skilled workers’ employment.
Allocating resources may be impacted by government policy. Tighter immigration regulations may drive out talent from some areas, requiring companies to increase employee training expenditures in order to close the skills gap, according to USCIS (2020).
Energy firms such as “SunEnergy” are tackling skill shortages, recruiting, and retention using a range of strategies.
Techniques for Retention: Offering competitive pay keeps workers that competitors would pursue. SunEnergy fosters a friendly work environment that reflects employees’ love for the environment, professional advancement, and meaningful work in renewable energy. To increase employee satisfaction and retention, it implements work-life balance and appreciation programs.
Skills gaps: Energy businesses are making investments in employee performance through training and development in order to close these skills gaps. For instance, SunEnergy offers project management, renewable energy, and sustainable engineering courses. It also works with schools to create curriculum tailored to energy. They look for international talent pools and promote inclusion and diversity to attract a diverse set of abilities.
1.3 Role of employers ,Government and trade unions
Ensuring future skills are met and a sustainable workforce is enhanced in the UK’s global energy sector. The government, corporations, and alternative trade unions all play essential roles in this effort.
Government Roles: The thriving energy sector can benefit from government laws that promote the acquisition of useful skills. As per Foxon et al. (2005), the government of the United Kingdom possesses the power to allocate funds towards educational and training programs, offer monetary incentives for investigating and creating renewable energy sources, and establish regulatory structures that promote sustainability. For example, the UK government launched the Skills for Jobs White Paper and the Green Jobs Taskforce to better align skill development with the needs of the green energy sector. Working with the government allows SunEnergy to take part in skill development initiatives, get funding, and make sure that policy frameworks take the sector’s future skill needs into account.
Employers’ Roles: In order to address common skill gaps, exchange best practices, and develop industry-specific training programmes, SunEnergy may work with other energy-related companies. To exchange expertise, participate in skill-development initiatives, and build workforce strategies engaging the entire industry, SunEnergy, for instance, can partner with business associations like Renewable or the Energy Institute.
Trade Unions’ Roles: According to Stone and Gavin (2020), trade unions advance workers’ rights, educational opportunities, and equitable working conditions. Trade unions can help SunEnergy ensure that its competence development initiatives align with the needs and goals of its workforce. Change unions can help SunEnergy better identify the widening skills and ability gaps and ensure a dependable workforce by participating in staff planning.
2.1 Workplace Planning
It is defined as determining an organization’s current and future labor needs in order to staff the firm effectively by the CIPD (2021).Workforce planning forecasts the labor supply. It is imperative to conduct workforce reviews, identify skill gaps, and identify talent sources (SHRM, 2015). There is coverage for both external and internal supply.
Promoting and developing current employees is one way to use internal sources of supply to meet labor needs (Lumen, 2019).
Benefits: This approach preserves organizational knowledge, promotes career advancement, and retains experienced personnel. Internal sourcing shortens the time and expense of hiring and training new employees.
Drawbacks: It could limit the range of employees and raise the bar for skill levels.
Examples of external talent sources include partnerships with educational institutions, recruitment agencies, and direct hires.
Benefits: Using outside resources helps to develop new ideas and insights by expanding one’s talents, experiences, and perspectives. It can provide accurate information and support the company in adapting to changes in the market (Lumen, 2019).
Drawbacks: Hiring through external sourcing may lead to increased hiring expenses, longer onboarding times, and issues with integration and cultural fit.
Balanced sources from both the outside and the inside can be helpful. While cultivating internal talent, organizations might actively seek out external talent to address crucial skill shortages or fulfill growing demand.
2.2 Effectiveness of techniques
Rates of promotion and demotion: When designing a workforce, rates of promotion and demotion can be useful. Increased rates of promotion motivate and retain staff.
Pros: By offering chances for advancement, this attracts and retains skilled workers. Workforce planning can use this data to find gaps in the talent pipeline and schedule promotions to guarantee a skilled workforce.
Cons: When evaluating workforce planning criteria, promotion rates may ignore aspects such as external hiring demands, talent shortages, and job requirements.
Staff turnover: Workforce planning entails an understanding of employee turnover rates. Elevated rates of employee turnover could be a sign of an unfavorable work atmosphere, restricted prospects for growth, or insufficient remuneration.
Pros: Businesses can address retention issues by examining turnover rates. Workforce planning can then make use of competitive perks, employee engagement, and career development initiatives to lower employee turnover.
Cons: It’s possible that turnover rates don’t signal the need for staff planning. Examine industry trends, distinguish between involuntary and voluntary turnover, and assess the reasons behind turnover.
Evaluation of a critical incident: Finding patterns, trends, and opportunities for improvement in workplace occurrences is the goal of critical incident analysis.
Pros: This method helps identify the underlying causes of important events that affect workforce planning, such as conflicts, accidents, and project failures.
Cons: Reactive data gathering may be required to meet certain labor planning needs. It calls for additional data sources and research methods, is resource-intensive, and may only provide a partial view of the workforce.
2.3 Approaches
Planning for Successions
According to the CIPD (2020), this is the method by which key employees’ roles are mapped out so that important tasks can continue even if they leave.
Appraisals: The term “appraisal” in succession planning, according to Breakthrough (2017), refers to the evaluation of an employee’s overall performance and capacity to find candidates for future leadership roles inside the company.
Effectiveness: One of the most important aspects of succession planning is the identification of skilled individuals who are interested in advancing their careers through appraisals. Through overall performance assessments, organizations can assess the skills, abilities, and growth potential of their workforce (LinkedIn, 2023). This information generates a succession planning talent pool and identifies high-potential workers for management and leadership jobs.
Planning for emergencies: According to Base (2020), is the process of becoming ready and creating strategies to react suitably to unanticipated circumstances or incidents in business operations. The “SunEnergy” contingency planning process uses assessments to identify career-minded employees who can step up in an emergency. By assessing staff performance, skills, and objectives, SunEnergy can determine who can step up to additional responsibility in an emergency or fill important roles.
Effectiveness: By using a proactive approach, internal talent pools are developed and workplace risks are reduced. Through training, SunEnergy ensures that there is a pool of competent personnel available to step in during emergencies, minimizing disruptions and maintaining operational continuity.
2.4 Recruitment and Selection Methods
Assessment of Social Media and Job Boards for Employee Recruitment
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