Some of the main questions needed to be answered in the assessment are like:
- Evaluate the nature and the issues that are being taken to manage the theories in practise.
- What are the recommendation given by the M&S in order to achieve the goals?
Talent management is the commitment of multinational company to recruit, develop, hire and retain the most applicable and talented workers available in job market (McKean, 2014). It is useful and beneficial term when it describes a firm commitment to manage applicants effectively. The present report is based on Marks and Spencer organization established in UK, they operate their business across the world. This study explains the current issue facing by company, applicable theory and justify recommendation to reduce the issue that is poor talent management. Furthermore, it clarifies the benefits for that firm in dealing with problem which impact on overall business operations.
Marks & Spencer is leading British multinational retailer in London, UK, they provide great quality clothing, food as well as home products to its consumers. The company is founded by Michael Marks ad Thomas Spencer in 1884. They have about 1,0000 outlets, a figure that consider 300 main stores and wide network of simply food convenience stores. It is considered as the first British retailer to make pre-tax earning of over £1 billion, in spite of that subsequently M&S went into sudden slump, which took their stakeholders and firm by suspire. Food sales of company increasing more and more rather than clothing sales which fallen down. In order to gain popularity and increase profit, they began to sell branded and high quality food products like Kellogg's corn flakes.
In recent time, organization is recognized as UK Fifth biggest retailer, it is undergoing a tumultuous period in their general and fashion merchandise arms. In additional to this, company cater range of financial services to people including current account, credit cards, saving and mortgages, all these services help to build their strong and powerful image within market place. They also launched its new clothing collection for children with eczema by considering their needs and preferences. Firm operates through two segments: International and UK. The global segment consist of M&S owned businesses in republic of Europe, Asia and Ireland together with international franchise functions. Along with this, organization is occupied in delivering its own brand clothing, home and other products in their physical outlets and online both in nation and internationally.
They sells lingerie, menswear, women's wear, kids wear, beauty products and serving consumers through approximately 300 full line websites and stores. It has around 910 UK stores including more over than 220 owned and 350 franchise simply food outlets.
As per view of Swenson, Gravitz and Lightner, 2017 talent management is effective and systematic procedure of identifying vacant job role, developing skills and hirings suitable person to match position and retaining them to achieve long term objectives of business.
Vaiman, Scullion and Collings, 2017 argued that talent management is full scope of Human resource procedure to develop, attract and motivate high performing workers. It is set of HR processes that is integrated with each other, it means that this activity is larger than sum of individual sections.
In simple words, talent management helps to increase productivity and performance of workers in company, it supports to manage people effectively and build strong workforce.
Due to poor talent management and staff hiring procedure company face issue that impact on its business growth and profit margin. It hinders ability of organization to innovate and respondents, it makes firm enable to expand business into new market. When manager and leader do not motivate their staff for their effective performance in workplace, it directly affects people work abilities and demotivate all of them. They do not appraise people which increase high employee turn over. In order to motivate staff, company can apply different types of framework and theory that help to enhance work capability of people effectively.
Maslow's needs hierarchy-
This theory is often reflect in shape of pyramid-
Water, food, air and shelter are the basic needs of human that help to survive for longer. Without getting these needs' person is not able to live their life, the function of body is not functioning well when these requirements are not fulfilled. On the other hand when people get things according to requirement, they can work effectively and complete daily task on time. In context of M&S, when manager support workers, provide home facility to applicants and consider staff needs they can retain and motivate employees appropriately as well as manage them systematically.
Safety and security-
It is the second need of people working and performing under company since for so long. In order to manage talent and motivate staff, management will provide the best facilities to its workers and fulfil their needs that help to retain talented candidates. Health safety and security is the second need of person which needs to be fulfilled by organization. When management provide insurance policy to its exiting workers and new applicants they can assure employees about company concern towards their health and life security which is quite beneficial for business as it helps to retain and motivate staff members for longer period to time.
Belongingness and love-
When both safety and physiological needs is completed, the love, affection and belongingness come into obscurity. The support to manager and leader in workplace helps to motivate staff and retain them for longer. It helps to reduce nervousness of new applicants and reduce rate of depression that impact on its work abilities.
It means being respected, appreciated and valued by others, management of M&S allow people to take participation in decision-making procedure that helps to feel as essential part of company. Each people in workplace give respect to other employees belongs with different culture that also work effectively and manage diverse range of staff members in one platform perfectly.
After obtain all the things provided by management of M&S, the interest of employees work with company is increased more than before. It helps to increase their desire to develop and grow professional career.
Poor hiring process does not allow HR management to acquire the talented and skill applicants in workplace, it creates many difficulties for M&S forecasting growth. Lack of strong hiring management plan, organization face difficulty with rest of talent management procedure. They did not know how to attract people and where to begin sourcing applicants. Due to this problem business also face difficulty acquiring applicants to accept their job opportunity.
Improvement in recruitment system is very essential for M&S because it helps to manage existing as well as new people in workplace. By reconsidering the current hiring plan with the help of getting suggestions from other people in business, company can be able to hire skilled labour. To manage talent management effectively, organization will write better job description with lists of requirements and accountabilities regarding specific job position. By improving quality of workers hiring company get the most applicable and skilled applicants who are able to contribute in achieving business objectives and goal. These things having impact on firm competitive advantage and profit margin.
Furthermore, M&S HR management follow the path that drive towards selection and recruitment of employees in company. They have to design and develop the best hiring plan in order to attract individuals available in market. From top to bottom leaders all need to be included while planning for hiring workers.
Benefits for M&S in dealing with talent management issue
When Marks & Spencer improve their hiring techniques, they can build strong team of people. High employee motivation is one of the benefits that company will gain while dealing with talent management problem. By making effective selection and recruitment procedures include accurate qualification, strong pool of workers, proactive strategic alignment with business goal, M&S reduce turnover and manage talent. With the help of the best recruitment plan company will increase their business performance and productivity. Manager and leader support encourage employees to complete task on desirable time limit, that provide better results. Talent management is all about retaining, hiring and developing talented workers, by improving current recruitment strategy or process, M&S will increase their productivity rather than before as they have strong team. The another benefits' organization will gain with the help of developing the best hiring procedure that is attracting high quality applicants.
Recommendations for improvement
M&S company is recommended for providing ranting to its new and existing people in workplace, that enhance work capabilities and performance. Training is the best tool used to manage talent and develop new skills in applicants. Management make training program by considering all the people's in mind, they must trained each worker equally without any discrimination. Training providing by senior applicants in organization increase morale and job satisfaction among workers, it also helps to increase employee motivation, efficiencies in operations management and enhance capacity to adopt new methods and technologies. As per view of Bailey and et.al., 2018 training is a great way for talent management as it helps to increase abilities and allow people to obtain better knowledge related to job role.
Marks & Spencer is highly suggested creating continuous professional development plan for all people working in company. CPD refer to the procedure of documenting and tracking current skills, experience and knowledge that person gain informally and formally as they work, beyond any initial training. It is quite beneficial for workers as learn in practical and structured manner that boosts knowledge and skills, it also supports people ascertain more knowledge they need to get within short period. Martin, 2015 argued by CDP is the best method uses by company for talent management. It allows management to fill gaps in their employees knowledge and make them able to be more efficient and productive.
Performance appraisal plan must apply and develop by M&S that also help to retain applicants in workplace effectively. By providing positive feedback and motivating staff in context of work, management will retain skilled members in staff appropriately. It helps to improve areas where people feel weak (Mohrman and Lawler, 2017). The purpose of performance appraisal to cater data to senior authority by which they can judge future job portion.
Rational- the purpose of training, appraisal and continuous development plan is to developed new skills and increase level of knowledge among staff.
Timescales- the duration of achieving these objective is depended on procedure of M&S and its decision.
Prioritize- in order to deal with issue that impact on managing talent in organization.
Cost- the cost of implementing plan, arrangement of training and other things is depended on number of applicant. Skill and knowledge development needed in workplace that help to grow business.
Related Article:- How Project Management is done
From above, it has been concluded that poor recruitment procedure of M&S impact on its overall business growth. With the help of considering needs of applicants, provide equal training opportunities and developing continuous development plan organization will retain their skilled labour effectively.
For all kinds of assignment help visit Assignment Desk