Report – Findings
This report will look at Talent Planning in organisations. Talent Planning describes an organisation’s commitment to recruit, retain, and develop talented employees to meet current and future organisational needs. It focuses on recruitment, ensuring the right people are attracted to the organisation.
Factors that affect an organisation’s approach to attracting talent:
There are a number of factors that affect an organisation’s approach to attracting talent, one of them being the image of the organisation. This has a great influence on attracting talent. An organisation with a good image may find it easier to attract and retain employees. The image of the company is based on what they do and how they are perceived. Actions like good public relations can help earn image. Also branded companies may find it easier to recruit, compared to a nameless brand. This is because they are more well known to the public and therefore they have more to offer candidates such as higher salaries, benefits,and bonuses.
Another factor that influences attracting talent is the size of the organisation. Larger organisations may find it easier to attract talent as they may be in a better position financially for recruitment and advertising hence they are more likely to attract a wider range of applicants to choose from. The size of the company can also impress potential candidates.
The unemployment rate also has an important part to play in attracting talent. If the unemployment rate in an area is high, it is easier for an organisation to attract talent as the number of applicants will be higher which makes it easier to attract the best qualified applicants. Hence with a low rate of unemployment the recruiting process can prove to be more difficult.
Another factor is supply and demand. This refers to the availability of manpower internally and externally to the organisation. Organisations need to consider the current supply versus