People resourcing is one of the vital part of the Human Resource Management which is concerned with the selection, recruitment and reseals of the people of the organization along with the performance management of same. It has been found that in contemporary perspective of HR management the people resourcing is called as the talent planning. With regard to this, it must be noted that the people resourcing is based on the eligibility, skills and qualifications of the people resourced from outside Look Great Cosmetics (Sparrow, Hird and Cooper 2015). In order to evaluate the importance of the people resourcing it need to be noted that the maintenance of thee employees of the organization in terms of specific responsibilities lies under people resourcing. The strategic importance of the people resourcing is that the same is ensures the productivity of the company which further determine the profitability. On the other hand, the talent management is considered as the management of the employees’ skills and capabilities in performing the specific job responsibilities at the organisation LGC. The talent management is also important along with the people resourcing. The basic difference between the two concept is that people resourcing is concerned with the recruitment and selection whereas the talent management focuses on the performance management of the existing employees (Taylor 2014).
It is important to consider people resourcing and talent management in terms of increasing the productivity and profitability of the firm with the proper management of the employees and their job responsibilities. However, some issues can be seen in execution of both the concept in contemporary context (Raidén and Sempik 2012). In the people resourcing the issues faced by the organization are legislative obligations, communication problems, wages determination and many other. On other hand, the talent management department at Look Great Cosmetics faces issues like communication problem, cultural and workplace diversity, training issues and others. Few other issues faced at Look Great Cosmetics were lack of sales revenue because the customers became more influenced to make online purchases rather than buying products from the shop. This reduced the sales for the company and even deteriorated the production and profit levels for the company largely. The other issues faced by the company had been lack of growth opportunities due to customers’ more focus on online products nowadays rather than visiting stores.
The labor market analysis is one of the important part of Human resource management which determine the proper practice of HRM. The labor market is considered as the market of employees in a local, national or international context which includes several aspects attached to it.A thorough analysis of the labor market helps a company to understand contemporary and existing trends of the employment along with all the important aspects related to it. The importance of the labor market lies in the determination of organizational success out of the performance of theemployees (Card, Kluve and Weber 2015). The analysis of the labor market therefore helps the organization to identify the opportunities in the present market in terms of employment. On the other hand, Look Great Cosmetics is provided with the help in the process of organizational decision making. The current and existing trends of employment in the context of legislation, ethics, wages and many other aspects of employment.
Considering the fact of the market analysis of labor market in the local or outside context, the organization is capable of identifying its capabilities and resources matching to the market trends. Furthermore, the organization finds it easy to conduct necessary changes in the employment policies in necessary. Hence, the decision making process of the firm is influenced by the analysis of the labor market. on the other hand, the labor market analysis is relevant to organizational HRM process at Look Great Cosmetics. The HRM trends at Look Great Cosmetics in the labor market enable the company to change or add their HRM policies in order to match steps with the market trends as well as to gain competitive advantages in the context of employment (Elsby,Hobijn and ?ahin 2015). Therefore, the labor market analysis of the organization is important to identify the market trends of employment as well as to determine and transform the employment strategies of the company itself.
Another important aspect of the human resource planning is the long term and short term planning of the employee and their talent management. The long terms plan is important in terms of ensuring the retention of the employees for a long period of time in the firm (Cvelbar and Dwyer 2013). Again, the short-term planning is important to immediately attract employees and fill any gaps in the employment at Look Great Cosmetics.
The identification and emergence of the new leaders is important and the importance lies in the succession planning. The succession planning is important because the organization needs to replace its old leaders with the new ones. The succession plan helps the company to identify the new eligible leaders as well as increase the availability of capable and experienced employees (Garg and Van Weele 2012).
On the other hand, the assessment of redundancies is also impotent in terms of maintaining a clear organizational culture. It does not hold any meaning to have several number of employees for one job responsibilities. In addition, the assessing the redundancy will help the organization to reduce the cost of the company for different employees (Mikuli? and Prebežac 2012).
Apart from this, the dismissal and retirement practice is another important aspect the HRM activities. One of the major aspects of the employee management is the dismissal and retirement. The company dismisses staffs in terms of the performance of the same based on their job responsibilities. On the other hand, the retirement practice of the company refers to the superannuation of employees on the basis of their age. The importance of dismissal of employees is indicated towards the elimination of the employees providing poor performance which further leads the organization to poor production (Armenia et al. 2012). In addition, the retirement practice is important for providing employment opportunities to the new employees as well as increase the productivity.
The resourcing strategies determines the proper and effective employment practice within the organization. the resourcing strategies of the company must determine the business needs and requirement of the people accordingly, proper skill and behavioral assessment according to the business strategies, incorporation of the employment practice with the organizational structure and strategies, performance and service management and flexibility and many others within the business organisation named Look Great Cosmetics. On the other hand, the talent strategies also need to be effective in terms of the improving the skills and capabilities of the employees (Vaiman, Scullion and Collings 2012). The talent strategies must include training and performance assessment process, feedback programs, reward system and other effective ways in order to develop the talent and skills of the employees. It must be noted that the resourcing and talent strategies play important role in determining the effective and successful employment practice by the organization which further ensures the productivity of the Look Great Cosmetics.
Recruitment and selection are two major elements of the organizational HRM practice based on resourcing. The recruitment and selection practices however, are involved with various issues which influence the HRM practice of the company. Expenses, interviewing skills, internal promotion, communication strategies are some of the examples of the key issues related to the selection and recruitment at the organization. On the other hand, performance management and reward strategies are another major aspects of the talent management process which is further determined by the talent strategies(Ekuma2012). Similarly, like the recruitment and selection process, the performance management and reward strategies are engaged with various issues. Incorporation of talent strategies with the organizational business strategies, skill management and training, communication diversities, organizational cultures are some of the issues found in the organizational performance management and reward strategies. Apart from these, there are number of minor issues related with the people sourcing and talent strategies, but the mentioned ones are found to be major and apparent.
Reference
Armenia, S., Centra, A., Cesarotti, V., De Angelis, A. and Retrosi, C., 2012, July. Military Workforce Dynamics and Planning in the Italian AirForce. In Proceedings of the 30th International Conference of the System Dynamics Society (pp. 22-26).
Card, D., Kluve, J. and Weber, A., 2015. What works? A meta analysis of recent active labor market program evaluations(No. w21431). National Bureau of Economic Research.
Cvelbar, L.K. and Dwyer, L., 2013. An importance–performance analysis of sustainability factors for long-term strategy planning in Slovenian hotels. Journal of sustainable tourism, 21(3), pp.487-504.
Ekuma, K.J., 2012. The importance of predictive and face validity in employee selection and ways of maximizing them: An assessment of three selection methods. International Journal of Business and Management, 7(22), p.115.
Elsby, M.W., Hobijn, B. and ?ahin, A., 2015. On the importance of the participation margin for labor market fluctuations. Journal of Monetary Economics, 72, pp.64-82.
Garg, A. and Van Weele, E., 2012. Succession planning and its impact on the performance of small micro medium enterprises within the manufacturing sector in Johannesburg. International Journal of Business and Management, 7(9), p.96.
Mikuli?, J. and Prebežac, D., 2012. Accounting for dynamics in attribute-importance and for competitor performance to enhance reliability of BPNN-based importance–performance analysis. Expert Systems with Applications, 39(5), pp.5144-5153.
Raidén, A. and Sempik, A., 2012. Illusions of equity, procedural justice and consistency: a critique of people resourcing ‘best practice’in construction organisations. Loosemore, M. and Dainty, A. Human resource management in construction–critical perspectives. 2nd ed. Abingdon: Routledge (2012), pp.226-251.
Sparrow, P., Hird, M. and Cooper, C.L., 2015. Strategic Talent Management. In Do We Need HR? (pp. 177-212). Palgrave Macmillan UK.
Taylor, S., 2014. Resourcing and talent management. Kogan Page Publishers.
Vaiman, V., Scullion, H. and Collings, D., 2012. Talent management decision making. Management Decision, 50(5), pp.925-941.
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