Yorklab Case Study

1.0 Overview of Yorklab (Intro)
Small and medium-sized enterprises (abbreviation as “SMEs”) were about 70-80% of all enterprises in Europe and occupy a significant place in national economies worldwide, as quoted by Klein, 2000 (López-Fernández et al., 2016). Therefore, about two-thirds of the people are managed by SMEs include recruit, training & development, compensation, and others.
External environment which result from increase market demand, increase competitive advantage, innovation, technology, new knowledge has become the main factors changing of world work today. Many SMEs has suffered in manage their people as they stay in traditional way in managing them.
SMEs need to be more innovative, cover more complexity (Armstrong, 2011;
This report presents 2 SHRM strategies to help Yorklab overcome its current issues which is develop talent management on their core workers who help firm business running, while apply Peripheral workforce strategy on general skilled workers to bring more flexibility in people planning in short and long term.
2.0 Human Resource Development in Talent Management
Talent management (abbreviated as “TM”) has been targeted as one of the human resource development (abbreviate as “HRD”) conceptual framework to improve the effectiveness of HRD practice (Nilsson and Ellstrom, 2012). The world of work has increasing interest to target it recently as according to 17th Annual Global CEO Survey, 93% of CEOs are recognizing the need to make a change, or are already changing their strategy for attracting and retaining talent (PWC, 2014).

In review of Lewis and Heckman (2006), cited by Nilsson and Ellstrom (2012) statement, TM has been identified into three types of conceptualisations as per figure 1
2.1 Management support
Yorklab need to identify what is seen as talent in its organization, for example they could be with professional or specific job background. Then define talent pipeline by different elements of TM process which includes workforce planning and succession planning. Finally, Yorklab need ensure an adequate pipeline of talent (Dan, Wellbelove & Gopal, 2014) able to improve productivity and lead the organization to competitive advantage. Yorklab shall see the opportunity in retention high potential employees and grow future senior manager or leaders thus meet future skills requirements of organization (CIPD, 2010).
By realizing this, Yorklab’s management support in creating a good work conditions (Drobnič, Beham & Präg (2010) include flexible working, reward and recognition likely to be financially successful. Yorklab need to focus on making career development as part of their key TM strategy by investing in personal development planning and formal training programmes.
2.2 HRD practices in Talent Development