This assessment will cover following questions:
- Critically analyse the business and their environment to identify social, technological aspects of Tesco.
- How globalisation affects the HR strategies and functioning of Tesco.
Human resource management is termed out as to crucial assets to the enterprise. It is the department of business organisation that looks after the hiring, management and also fire the staff. It deals with varied issues that is related to compensation of the performance management, development within the organisation, safety, employee motivation and wellness. Therefore, Human Resouce Management plays strategic roles in managing people and the workplace culture and environment.
The present report is based on business activities of Tesco, it is global leading brand that is engaged in retail sector. Henceforth, study is based on topic as Talent management. Furthermore, study will critically discuss the role of talent management within enterprise. Henceforth, challenges towards the talent management needs to address in the global economy. Lastly, conclusion must be drawn to build effective strategic HR management.
Critically discuss the role of Talent management within organisation.
Talent management can be defined as the distinct function of the human resource management. As per the view of Hong and Kim, (2019) stated that effective talent management system within the enterprise allows for data sharing across the entire enterprise and this also gives end to end view of employee information. It is the term that enables the organisation to conduct the more opportunities and make better informed strategic management decision that carried out business activities effectively. In contrary to Gardas, Mangla and Luthra, (2019) stated that Talent management within the enterprise is largely focus on the ways that develops the employees in terms to mapping out the career paths and also helps to conduct the better training programmes. Talent management is defined as one of the crucial thing as this helps to make the stable employee based within the company. As per the view of Onputtha, (2019) stated that Talent management is termed out as the process in which the staff of the entity must be maintained and developed by the enterprise. This is inclusive of the process as recruiting, training, developing, retaining the staff within the enterprise. In addition to this, talent management is defined as the process that simplifies the functions of HR and also helps to understand smooth overflow of the company.
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Tesco needs to hire the talent management as this enables the workforce that generate the better results within the enterprise. In addition to this, strong talents management plan of action assist to bring out the more engaged workforce. Thus, talent management and succession planning frameworks supports to enterprise to develop the proper training and strategical plan of activities to carry out the business activities in proficient mode. The role of Tesco is to realize the organisational vision in which the need of staff are high potential and they must looking towards the future course of actions. Talent management can assist the quoted enterprise by building more trust within the enterprise and proper program of talent management helps to improve employee performance (Ismail, Rashid, and Amalina, 2019 ). This is one of the effective that fulfils the requirements of the organisation and employees to tighten their bonds with the enterprise.
Description on talent management to address the challenges within global economy.
Talent management is termed out as the process as finding, developing, training and keeping the employees align with needs and aims of the enterprise. In addition to this, the main aim of talent management is to hire the best employees of the business so that the firm can able to reach its maximum potential for success (Alnuqaidan and Ahmad, 2019). Henceforth, the opportunities and challenges towards the talent management are defined in the below contexted manner as are-
Recruiting talent- The recent economic downturn within the enterprise leads to job cuts within the enterprise. Henceforth, the huge shuffles has been happened at the top of leadership positions. It is the jurisdiction of the talent management is to get the people on the onboard and also they needs to be ensure about the things that they not to be suffered.
Training and developing talent- The downturn within the enterprise has also opened the eyes of organisation to part time and temporary workers (Radel, 2019). It is one of the challenge of the talent management, training and development of the individual to work on the contractual or project basis.
Developing leadership talent- Leadership is termed out as the action plan that has an ability to cope with the situation of crisis, to extract the certainty out of the uncertain situations. This is the that needs to set the goals and also drive the organisational change which helps to undertake the business activities effectively and efficiently (Mousa and Ayoubi, 2019). In addition to this, identification of the individual within the enterprise must be invested and this is also defined as the critical talent management challenge.
Retain the talent- At the time when entity looks over the reduction in employee overheads and sacking those are unessential within the short run also spreads the wave of de motivation among those who are retained. In order to overcome from this kind of challenge this is crucial to maintain psychological contact with employees. Therefore, investing about the people development is one of the crisis and this is also one of best things to retain the best talent within the organisation.
Created talented ethical culture- With the help of setting the standards for the ethical behaviour the entity can able to run out the business activities effectively and efficiently (Ismail, Rashid, and Amalina, 2019). In order to build the ethical culture, the major focus must be given in the increasing transparency, reduction within the complexities and to develop the culture as reward and appreciation. It is also can be defined as the major challenges and opportunities for talent management.
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What conclusion needs to be drawn for strategic HR management.
Strategic Human Recourse Management termed out as the co-ordinated and consistent business functions with the overall planning that aids to improve the business performance. In addition to this, translation of the organisational objectives and values within the tangible initiatives needs to driven by Human resource department as a complex problem that underlying the strategic HRM (Onputtha, 2019). Henceforth, the following plan of action that aids to deliver the successful HR strategy as-
- Align business with HR needs- The business goals of the enterprise must be aligned by focussing over the organisation internal capabilities to deliver the business goals.
- Developing HR strategy- The deeper knowledge and understanding about the business goals helps to identify the potential threats and opportunities within the enterprise in terms to quality and quantity of human recourse required by the enterprise. This is also critical for the team of the HR and this has high level of the expertise in relation to align with major interventions of HR and their significance to business performance.
- Organisation performance- It is process that defines the goals and objectives of the business to manage the organisational activities effectively and efficiently (Gardas, Mangla and Luthra, 2019). In addition to this, HR of the enterprise needs to create the robust performance management process that supports to set out the performance objectives for all the levels of staff within the enterprise.
- Organisation design and structure- Organisation design shape, size and structure of the enterprise are required t meet out the needs of customers. It is one of the effective term that reflects the process of management and this also drive the business model and supports to determine the flexibility and agility of the organisation. These process can be ultimate source of the competitive advancement that helps to reinforce the organisation competence effectively and efficiently.
- Strategic resourcing- The structure of the organisation is one of the critical components that resource the organisation plan of actions effectively (Hong and Kim, 2019). Henceforth, the entity needs to be clear about the roles and responsibilities and must design the skills and knowledge to undertake the organisation work effective and this is also determines about the strategic resourcing requirements.
Hereby, it can be concluded that Human resource management termed out as crucial assets to the enterprise. With the help of effective human resource activities the entity can run business functions in smooth and efficient manner.
The present report is based on business activities Tesco, it is global leading brand that is engaged in retail sector and provide grocery services. In addition to this, study has focused on to critically discuss the role of talent management within enterprise. Henceforth, challenges towards the talent management has been defined within global economy. Lastly, conclusion has been drawn to build effective strategic HR management.
- Hong, G. and Kim, E., 2019. How to Attract Talented Expatriates: The Key Role of Sustainable HRM. Sustainability. 11(19). p.5373.
- Gardas, B.B., Mangla, S.K. and Luthra, S., 2019. Green talent management to unlock sustainability in the oil and gas sector. Journal of Cleaner Production, 229, pp.850-862.
- Onputtha, S., 2019. BOOK REVIEW: HUMAN RESOURCE MANAGMENT. RMUTT Global Business Accounting and Finance Review. 3(2).
- Ismail, F., Rashid, U.K. and Amalina, N., 2019. Talent management.
- Alnuqaidan, H.A. and Ahmad, M., 2019. Comparison between Highly-Talented and Low-Talented Nurses on their Characteristics and Quality of Nursing Care.