A.P. Moller Maersk Group: evaluating strategic talent management initiatives
1. The issues The Maersk Group had originally started out as a small size Danish business family, but has, throughout the years, become a publicly traded world conglomerate. Throughout its years of operation, the company had been acknowledged as a quality employer and proof in this sense has been represented by the low employee turnover rate in the firm. During the recent past however, when the company became a more dominant global competitor and a publicly traded conglomerate, the numbers of employees leaving the firm have increased, generating adjacent problems of employee recruitment, training and retention. In other words, the major challenges currently faced by the company are related to talent management. At a more specific level, the issues refer to the following:
High employee turnover rates
Costly training
High degrees of senior staff employment
Employee rehiring, and last
Redesign of the organizational culture in the more competitive and dynamic business climate.
2. The company culture and practices The Maersk Group's organizational culture and practices focused around the development of quality relationships with the wide array of stakeholders, such as customers, business partners, the general public and so on. This culture was also reflected at the level of the employees, who were treated as valuable organizational assets, and the generators of organizational
Organizational culture could almost be considered the roots of a company. The way a company’s employees think, the way the customers feel, and the company’s decisions are made are all based around the culture that the company has laid for itself. An employee’s values, thoughts, and actions should reflect those stated in the company’s mission. Southwest Airlines and American Airlines, while both attempting to create a culture that is comfortable and pleasing to their
3. How can an organization maintain its image while dealing with a talent surplus? If layoffs are necessary, what would you recommend managers do to ensure that survivors remain committed and productive?
This paper is going to describe OCBC’s unique approach to talent management and development. Compare OCBC’s approach to talent management and development to other organizations you are familiar with (e.g., current or past employers, a family business). Explain how OCBC’s approach to talent management and employee development been a primary contributing factor to the firm’s success. Evaluate the extent to which OCBC’s approach to talent management and development fits other organizations or industries, including some limitations if applied elsewhere without modification.
D. Consequences for recruitment and retention of top talent: Matthew Rice’s article outlines the compensation and talent strategies that minimize employee turnover. Talent audits are used to identify top performers, investing in employee engagement strategies to improve retention of the existing team, and eliminate employees’ reasons to leave by offering job activities and development opportunities, and this because: “A talent audit is a critical first step in understanding your risk profile and where you need to invest time, energy and capital to limit your turnover risk” (Rice, 2011, p. 32). If applicable, describe any consequences this scenario has had for the organization 's ability to recruit and/or retain top talent. The research provides insight in how changes in
Retaining employees is one way the turnover rate can decrease, Branham (2000), focuses on retaining valuable employees by incorporating four key elements. The first key elements is, “be a company that people want to work for”. There are many companies that have been labeled as, “employers of choice”. These employers all have something in common, which is how they value their employers (Branham, 2000). They treat their employees with respect and like family. With being an “employer of choice,” people are the most valuable asset; not just customers but employees too. Many companies go above and beyond for their customers, but not for their employees, yet they wonder why they are losing valuable talent.
This report identifies and assess factors that affect an organisations approach to both attracting talent and recruitment and selection. It also identifies and explains benefits of attracting and retaining a diverse workforce, describes methods of recruitment and methods of selection.
Even though employee retention starts with attracting potential employees, today’s society has placed a new and greater demand for skilled and educated employees as new hires for their companies. These employees, however, are starting to become harder and harder to find. So
a good employer. Hence the employee retention rate is very low. The purpose of this report is to propose a
A critical factor to the success of any company is its ability to attract top talent while retaining those already working within the company. Losing employees can have a significant impact on a company’s morale, productivity and overall profit.
Throughout this course each class team organized a talent management simulation for the organization that was assigned to each group. My team covered the hiring process of an HR Manager at Google. The organization that I chose to analyze was Zappos. In the body of this essay I divided each section by the individual portions that were highlighted in the simulation project. Within in section I will mention the overall learning objectives of each week that the simulation project was assigned. I will highlight the main points that I learned from each lesson and how they tied into each portion of the talent simulation project.
In this post, we’ll explore what talent management entails and why it’s an important aspect of organisation’s operations. We’ll examine the current situation and the key challenges facing organisations. Finally, we’ll introduce five trends key to the future of talent management.
Having a functioning and efficient talent acquisition team is of vital importance to a firm. In a time where firms have to make quick decisions in order to remain relevant and profitable, availability of the right labor does not always keep up with the need. Not having a functioning talent acquisition strategy can be detrimental. It is essential that talent acquisition be accurate and timely as it “is the only function within HR that can destroy the business and HR” (Truitt, 2013). In order for the talent onboarding to be timely and successful, the search, vetting and hiring of talent will require appropriate acquisition actions. “The selection of tools, technology and outsourcing partners is a key element of a company’s talent acquisition strategy” (Erickson, 2012).
Retaining these key employees, securing high-performing individuals presents challenges for organisational commitment and therefore success of MiningCo’s operations. This presentation looks at how MiningCo can mitigate these retention issues in Talent Management and retaining our core senior personnel.
Thereafter, the need to retrain and retain the talent pool through promotions and competitive remuneration package would need to be reviewed. However, it is not short of having the need to revise the retirement age and to release employees deemed unsuited for the new objectives. Hence, a new talent pool aimed at exceeding, if not meeting, expectation would be formed to successfully deliver the company’s commitment.
Talent management programs are usually designed to improve business performance and results. Business performance is highly influenced by external factors. These factors include economic conditions, competitors’ activities and government legislation. However, it’s not just external factors that influence performance. Internal factors like organizational structure, policies and business strategies are also main performance influences (Hunt, 2014). Most companies have realized that they can improve their performances by influencing their employee’s behavior. If employees are aligned with the business’s goals and needs through talent management, a company‘s performance will improve. This can be achieved by focusing on