Talent
Talent Management Strategy
Formulate a talent management strategy to encompass the entire talent requirements of the organization.
Epperson Fit Factory is a wellness center consisting of 200 employees in which 20 of those employees are in leadership positions. The talent management strategy of the wellness center is that employee engagement is the organization’s first priority because without the motivation of employees productivity goals will not be met and the customers we serve will not be loyal. In order to motivate employees Epperson Fit Factory not only formally and informally recognizes employees; we also offer a competitive benefits package, competitive salary and an effortless sense of family.
In order to offer a competitive salary and benefits package, Epperson Fit Factory will research other wellness centers in the region. We will offer at least a 5% increase in pay and ability to increase pay through higher productivity and exceeding goals. The organization will offer vacation pay, sick pay, discounted child care and monthly after hour gatherings where employees may bring family members and mingle amongst one another. Epperson Fit Factory will also work with employees to find out what their goals are and how we can help them meet them through tuition reimbursement, on the job training, networking and shadowing.
Determine the key components of talent management, including identifying, assessing, and developing talent.
Talent management is defined as the implementation of integrated strategies or systems designed to improve processes for recruiting, developing, and retaining people with critical skills and aptitudes to meet current and future organizational needs (Knapp, 2010). The six key components of talent management are: plan, attract, recruit, assess, develop and retain (Goldsmith M., 2010). In order for an organization to be successful, its talent management strategy must contain all of the above components, if not it will certainly fail.
Formulate a talent management strategy to encompass the entire talent requirements of the organization.
Epperson Fit Factory is a wellness center consisting of 200 employees in which 20 of those employees are in leadership positions. The talent management strategy of the wellness center is that employee engagement is the organization’s first priority because without the motivation of employees productivity goals will not be met and the customers we serve will not be loyal. In order to motivate employees Epperson Fit Factory not only formally and informally recognizes employees; we also offer a competitive benefits package, competitive salary and an effortless sense of family.
In order to offer a competitive salary and benefits package, Epperson Fit Factory will research other wellness centers in the region. We will offer at least a 5% increase in pay and ability to increase pay through higher productivity and exceeding goals. The organization will offer vacation pay, sick pay, discounted child care and monthly after hour gatherings where employees may bring family members and mingle amongst one another. Epperson Fit Factory will also work with employees to find out what their goals are and how we can help them meet them through tuition reimbursement, on the job training, networking and shadowing.
Determine the key components of talent management, including identifying, assessing, and developing talent.
Talent management is defined as the implementation of integrated strategies or systems designed to improve processes for recruiting, developing, and retaining people with critical skills and aptitudes to meet current and future organizational needs (Knapp, 2010). The six key components of talent management are: plan, attract, recruit, assess, develop and retain (Goldsmith M., 2010). In order for an organization to be successful, its talent management strategy must contain all of the above components, if not it will certainly fail.
Cited: CNNMoney. (2012). 100 Best Companies to Work for in 2012. Retrieved from CNNMoney Website: http://money.cnn.com/magazines/fortune/best-companies/2012/turnover/index.html Goldsmith M., C. L. (2010). Best Practices in Talent Management. San Franciso, CA: John Wiley & Sons, Inc. Knapp, D. (2010). Best Practices in Talent Management Strategy. Best Practices in Talent Management Strategy. Society for Human Resources Management. O 'Leonard, K. (2010, June 16). Getting Your Talent Strategy in Order. Retrieved from Bersin & Associates Website: http://www.bersin.com/blog/post/Getting-your-Talent-Strategy-in-Order.aspx Wellins, R., Smith, A., & Erker, S. (2009). White Paper - Nine Best Practices for Effective Talent Management. Pittsburgh: Development Dimensions International, Inc.