Human Resource Management PPT 3 – Best Practices for Talent Management Professor: Dr. David Auberry Campbellsville University Group - H Swathi Thokala – 583318 (Slides – 2,3,4,5,6) Pareshkumar Patel – 579702 (Slides – 7,8,9,10,11) Sanket Parikh – 606472 (Slides – 12,13,14,15,16) Pavan Kumar Gudela – 546732 (Slides – 17,18,19,20,21) Phaniram Guduri – 578173 (Slides – 22,23,24,25,26) Sandeep Reddy Konda – 544201 (Slides – 27,28,29,30,31,32,33,34,35) BEST HIRING PRACTICES Build a Plan: • A successful hiring strategy requires a significant amount of planning and decision making for the business to select the talented staff from the group of large pool (Tripathy, 2014). • Build a plan • Assess the position • Create a job description process BEST HIRING PRACTICES Best possible sources for hiring: • Once the business needs and requirements determined, the next move is building a strategic plan for sourcing the candidates (Tripathy, 2014). • There are two important sources organizations have for the recruitment which include: • Internal Sourcing • External Sourcing BEST HIRING PRACTICES Employee Referral Program • Employee referral program is one of the productive ways for the organizations to select the skilled staff for the business. • In the recent survey conducted by the LinkedIn’s report, employee referral program is the top source of quality hires for the business to select the top talent (Kimberly, 2015). BEST HIRING PRACTICES Social Media Recruiting • When organizations are looking forward to hire the top talents in the job market, social media recruiting is another source to hire the skilled people. • With the help of social media sites, organizations are able to find and attract the top candidates who can flexibly work on the business goals and objectives (Kimberly, 2015). BEST HIRING PRACTICES Recruiting Events: • Organizations also conduct recruiting events so that they can select the top talent who are active job seekers in the job market. Typical recruiting events are job fairs, career fairs, etc. • If organizations want to find top candidates, they can attend the recruiting events, industry conference, panels, workshops etc. (Amette, 2018). Best Practices for Hiring and Developing Top Talent within an Organization • • • • Develop a well planed recruitment process(Taylor, 2018). Have an effective performance development system Develop a clear job description Align talent strategy to the overall business strategy Best Practices for Hiring and Developing Top Talent within an Organization • Invest in employees’ training and offer development opportunities on an ongoing basis • Conduct performance development planning on quarterly basis • Design an effective and fair compensation system Best Practices for Hiring and Developing Top Talent within an Organization • Recognize and reward top performance • Offer promotion and career development opportunities • Provide coaching and mentorship to employees and seek their feedback • Select employees who have superior performance potential • Create a strong employee referral program Best Practices for Hiring and Developing Top Talent within an Organization • Develop a strong pool of candidates • Develop assessment systems for evaluating recruitment process and function • Recruit and promote employees from the existing workforce (Ma, Mayfield, & Mayfield, 2018). • Think inclusively Best Practices for Hiring and Developing Top Talent within an Organization • • • • • Conduct data driven recruitments Develop an employee-focused culture Involve existing employees in the recruitment processes Create online connections Focusing on the organization’s key employees Hiring and Development of Top Talent • For any organization, attracting and preserving talented resources is one of the top priorities. • Technologies keep on coming, but talented people are less. • Incentivizing skilled and talented resources. Hiring and Development of Top Talent • Strategies are essential in workforce. • Skilled Employees are valuable assets. • These top talented are groomed and act as liability. Hiring and Development of Top Talent Acquire Deploy Develop Assess Precise Company prospects and hierarchical views Strategies Backing up and supporting company requirements Let candidates know proficient development goals Strategies for Top Talent Management • Keeping a note of things • Continuously comment on their work • Look and reward the best Steps of the recruitment process • • • • • • Identify your recruitment needs Post job openings on recruiting platforms Find candidates Run a prescreening Evaluate candidates Make the job offer Why the recruitment process is important There can be no room for chance in the hiring of new employees. It is crucial that the hiring process of your business is of the highest quality. Each new employee offers the opportunity to positively affect the company's success or destroy it. A structured approach to recruitment should be used by every hiring manager in order to provide better predictability in the hiring process. A hiring process need not only be structured but should be streamlined for cost-effectiveness and maximized productivity. It involves four key steps: 1. Define the position to be filled. 2. Source suitable applicants. 3. Evaluate and select the best candidate. 4. Verify the suitability of the selected candidate using human resources and hiring tools. The qualities to look for when hiring new employees Employers who want to recruit effectively need to use their time and resources wisely when hiring employees. They must also keep in mind that the employee must always serve the company well. The following three suggestions will help you achieve your goal: • Keep business results in mind: It is crucial to maintain a focus on what is better for the bottom line of your company throughout the entire hiring process, from creating job descriptions to writing job advertisements to conducting interviews to deciding which candidates to hire. • Build profiles of the company’s top performers: Check out the best performers in the department you are hiring for before you write a job description or prepare for an interview. Identify the traits that contribute to their performance. As a result, a selection template will be provided during the interview process. • Compile a personal profile of the ideal candidate: For your new hire to fit into the company culture, they must also possess the personality traits necessary to work well with existing employees. A conflict at any cost should be avoided. When employees do not fit in, they will not perform well. Choosing the Right Candidate Whether a company is large or small, hiring is a critical function. It is imperative that you are properly prepared for the hiring process, because a wrong decision could have disastrous effects on a company. On a practical level, you should adhere to this checklist whenever an opening for a new employee arises: 1. To develop the profile of qualifications, skills, experience, and personal characteristics pertinent to the job, hold a hiring meeting with the hiring manager, HR, and a coworker. 2. Compile a complete description of the position, including an indication of the salary range. 3. Your company's intranet or job board should feature an announcement of the position, including a deadline for internal applications. Recruiting managers and HR should interview internal candidates. You should advertise the job externally if you cannot find a suitable internal candidate for the position. Identify and screen all external applications based on the job description and other profile template requirements. Make a short list of candidates for HR to interview and the hiring manager to interview. Interviewing should be inclusive of colleagues and others from the department concerned. Organize an interview review meeting in which the best candidate will be selected. To present the preferred candidate with the job offer, you'll need a job description and salary. 4. 5. 6. 7. 8. 9. Choosing the right interviewer: Do's and Don'ts Don’ts: 1. Don’t speak poorly about your present or former employers 2. Don’t falsify information 3. Don’t speak over the interviewer 4. Don’t assume it isn’t an interview 5. Don’t let any past rejections infringe on future ones Do’s: 1. Do your homework 2. Make a good first impression 3. Listen and respond accordingly 4. Prepare smart, open ended questions to ask the interviewer 5. Sell your strengths and expertise Best Practices for Hiring Top Talent • Effective recruitment process is ideal when it comes to hiring top talent to facilitate achievement of the goals and objectives. • One of the best practices is to shorten the hiring process to reduce the chances of the prospective employees from losing interest and consider pursuing other opportunities. • HR’s should consider investing in highly- skilled recruiters and train them regularly (Murphy, 2020). • Treat recruiting as a sales function to enables the recruiters view the needs of the candidates and the client. Best Practices for Hiring Top Talent Cont. • Increase job posting visibility through the use of job search on Google. • Attract diverse workforce and the passive job seekers by using recruiting marketing. • The HR team should also ask employees for referrals who bring in the best possible workforce, minimizing quitting and increasing required skills. • Embrace assessment tools to determine the recruiting effectiveness and function (Kolar, 2015). Process of Developing Top Talent within the Organization • Review organizational strategies • Evaluate the existing talent to be able to determine potential skills gap • Develop an appropriate strategy that bridges the gap • Establish modules likely to help the employees to get the required skills Best Practices for Developing Talents • An appropriate talent management system in place is indispensable and with the following best practices, the organizations can effectively develop top talents within the workplace • Emphasize to employees on the significance of learning Build a culture of mentorship • Encourage balanced development Best Practices for Developing Talents Cont. • Align individuals and organizational goals which guarantees that employees are focused on contributing to the organizational success. • Engage in regular employee reviews to keep track of the employee performance • Focus on performance- based development to identify gaps in their skills • Recognize and reward high performing employees Top Talent Integrity Trustworthy, honest and kind. Innovation A process of creating new ideas. Teamwork Implementing the ideas with team members. Attitude Creates confident to develop the ideas. Implications Involvement in a work to reach the goals. Cont., • Top talent do more than is expected if they have the right skills and the right background. • Those who know the company, its owners, the people, are expected to give an information to the team. • Creativity is often seen as the key to career progression. • However, creativity is often at risk of being lost because it requires the team to work together. Importance of Hiring Top Talent • Recruiting top talent is critical to the success of any business it is no different. • A recruiter will be best to look past a superficial profile and take a holistic view of the candidate. • A simple overview of the applicant's resume will get you far more results than a lengthy list of references. • It is essential to have someone on the team who is both knowledgeable and passionate about recruiting. • In addition, recruiters should not feel pressure to make the candidate comfortable or happy. Increased productivity and profitability Higher performance: • The increasing price point of computers and the consequent increasing competition between companies makes it more economical for the company to use the products of the factory environment and create in-house products . • The company must thus continue to invest in new products and develop and improve its production processes in order to maintain a competitive edge . Cont., Communication : • Communication is based on a number of principles: It should be based on real dialogue as opposed to rhetorical or instrumental communication. • It must be based on communication between equals. It must be based on what is understood and shared in an organization, rather than what is desired from the employees. Employee Turnover and Retention Lack of growth and progression: • The employees at the most important position in the company are the salespeople and the managers. • These are the employees who have the most control over the behavior of their colleagues, the customers and the staff. • The management of the company has a very important role and responsibility in society, which is to make profits at a high level. Cont., Employee engagement • Employee job satisfaction and engagement factors are key ingredients of the customer relationship literature and are therefore also considered in this review. • Overall, we found little information on employee engagement and its impact on employee satisfaction. • The fact that employee satisfaction is related to engagement factors may be a warning for future research. Advantages of Hiring Top Talented Employees References • Hone. (2020, February 4). Best practices for developing top talent. Retrieved from https://honehq.com/blog/developing-talent-training-development-bestpractices • Kolar, C. (2015, June 3). 9 best practices in recruiting top talent. Retrieved from https://blog.rpoassociation.org/blog/9-best-practices-in-recruiting-toptalent • Lauby, S. (2017, February 10). 5 steps for creating organizational talent pools. Retrieved from https://www.saba.com/blog/5-steps-for-creatingorganizational-talent-pools References • Sunil, B. (2018). 4 Main Benefits of Hiring Experienced Employees. Retrieved from https://www.crowdstaffing.com/blog/workforce-diversity-the-benefits-of-hiring-experienced-talent • Rino, S., & Simon, N. (2019). Strategic Talent Management: Creating Strategic Value by placing Top Talents in Key Positions. Development and Learning in Organizations: An International Journal, 33(1), 1-4. • Nakamoto, E (2018).4 best practice recruitment strategies to find and hire top talent. Retrieved from https://www.tamrecruiting.com/blog/4-best-practice-recruitment-strategies-to-find-and-hire-toptalent • Talent Management – How do I identify “A” Players amongst employees (https://learn.marsdd.com/article/talent-management-identify-players-among-employees/) References • Annette, T. (2018). Challenging myths about selection and recruitment. Which selection process to really make a difference. • Kimberly, B. (2015). Best practices for Talent Acquisition in the 21st Century Academic Library. Journal of Leadership and Management. • Tripathy, S. (2014). Talent acquisition a key factor to overcome new age challenges and opportunities for human resource management. IOSR journal of business and management, volume 16, issue 12. Reference Reference: • https://www.sproutworth.com/best-practices-for-hiring-top-talent-in-tech/ • https://onlinebusiness.northeastern.edu/master-of-business-administrationmba/knowledge/best-practices-for-hiring-new-employees-guide/ • https://www.lever.co/recruiting-resources/articles/recruitment-process/ • https://mblbc.com/wp-content/uploads/2018/04/Strategies-to-Recruit-andRetain-Top-Talent.pdf References • Ma, Q. K., Mayfield, M., & Mayfield, J. (2018). Keep them onboard! How organizations can develop employee embeddedness to increase employee retention. Development and Learning in Organizations, 5-9. • Taylor, S. (2018). Resourcing and talent management. London: Kogan Page Publishers.
