Group 10
Trinesh Andradi – s4669059
Bimalka Arumapperuma – s4681268
Damith Bandara – s4681280
Shamal Pingamage – s4681277
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Contents
Executive summary ...................................................................................................................... 2
Introduction................................................................................................................................. 3
Business Goals with regards to Talent Attraction .......................................................................... 4
Diversifying sourced candidates ................................................................................................ 4
Refine the quality of hiring ....................................................................................................... 4
Accelerate the hiring process .................................................................................................... 4
Reduce new hire failure rates ................................................................................................... 4
Improve the employee brand value .......................................................................................... 4
Build a talented employee base ................................................................................................ 4
Achieve SMART recruitment Goals ............................................................................................ 5
Business Strategies with regards to Talent Attraction .................................................................... 5
Attracting talent across various generations.............................................................................. 5
Employee Referral Programs..................................................................................................... 5
Job Advertising ......................................................................................................................... 5
Strong Employer Branding ........................................................................................................ 5
Social Media Recruitment ......................................................................................................... 5
Candidate Relationship Management Tools .............................................................................. 6
Corporation with Universities ................................................................................................... 6
Business Goals with regards to reward Management .................................................................... 6
Business strategies with regard to reward management ............................................................... 7
Introduce and improve performance plan ................................................................................. 7
Improve performance management process ............................................................................. 7
Reward people for develop their professionalism...................................................................... 7
Recognize individuals for quality standards ............................................................................... 8
Introduce competency and skill-based payment system ............................................................ 8
Recommendations for Improvement ............................................................................................ 8
Issues identified in talent attraction .......................................................................................... 8
Shortage of skills................................................................................................................... 8
Getting past the “steppingstone” mentality........................................................................... 9
Issues identified in Reward management .................................................................................. 9
Incentives not motivating employees .................................................................................... 9
Rewards being unable to attract skills ................................................................................... 9
Conclusion ................................................................................................................................. 10
References ................................................................................................................................. 11
1
Executive summary
HRM makes ensuring that policies and procedures are applied consistently and successfully
throughout the company. The purpose of HRM is to keep a balance between employee requirements
and satisfaction and an organization's profitability and ability to accomplish its goals. The
implementation of a strategic plan in an effort to accomplish corporate goals is known as strategy
execution. The process of managing people as resources for a company is known as human resource
management. According to the guidelines this report’s motive is to clarify the important role of
human resource management (HRM) in executing organization’s business strategies. In this way, our
study focuses the roles of strategic human resource practices namely Talent attraction and selection
and Strategic reward management. As a result, this study gives a better insight on strategies and goals
of human resource practices (talent attraction and selection, strategic reward management). In
addition, smart recruitment goals, skill shortage, Getting Past the ‘Steppingstone’ Mentality. Business
strategy serves to support and strengthen the organization while serving as the base of a hierarchical
pyramid of efficient marketing.
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Introduction
Human Resource Management can be defined as a strategic approach to managing employee relations
that emphasizes the importance of harnessing people's strengths and commitment to achieve a
sustainable competitive advantage or superior public services. (Bratton & Gold define, 2012) To
achieve this, a unique set of unified employment policies, programs, and practices that are embedded
in an organizational and cultural context are used.
But in a more simpler context Human Resource Management can be described as a process that
involves the constructive use of people in attaining an organization’s strategic objectives and the
fulfillment of individual employee needs. (Stone, 2014)
The techniques, procedures, and systems that affect employees' behavior, attitudes, and productivity
are sometimes referred to as human resource management. HRM is often referred to as "people
management" in businesses. These practices must be connected to the organizational goals, or
organizational strategy, in order to provide effective results in terms of individual performance, and
ultimately, organizational performance. (Kramar et al, 2014)
Strategic Management is a process and a strategy in place to solve the problems that an organization
may encounter. The result of an organization trying to implement Strategic management is called a
Business Strategy. A business Strategy indicates a stronger financial foundation and a sizable economic
sector that should be encouraged to prioritize marketing in order to gain a competitive advantage. It
stands for the foundation of a hierarchical pyramid of effective marketing while being used to
strengthen and enhance the organization. (Abdulwase et al, 2020) A key element in any organization’s
success, mainly with regards to competitive advantage is the Business Strategy. It can mainly create
competitive advantages that are more significant than the international market, realizing sustainable
commercial development that is best for the Organization's continuity.
In this workplace research on Business Strategy and Human Resource Management, by following the
the order of identifying the business goals with regards to a chosen themes of Talent Attraction and
Strategic Reward Management and stating what strategies are in place to achieve the goals of the
same.
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Business Goals with regards to Talent Attraction
Diversifying sourced candidates
There are 4 generations involved in the modern workplace namely, Baby Boomers, Generation X,
Generation Y and Generation Z. (Stroud, 2020) We believe that each of these generations possess
talents and skills that are unique to their generation. So, in order to get hold of all these numerous
talents and skills a business needs to diversify sourced candidates.
Refine the quality of hiring
At the end of the day, the quality of the employees in your workplace would define the outcome of
that workforce. So, refining your hiring process to recruit the best is a business goal that most
businesses plan on having.
Accelerate the hiring process
The more you idle an incoming recruitment, the more they lose interest in that organization. In return,
their input towards the organization would not reflect their full potential. So, it’s a common business
goal to accelerate their hiring process.
Reduce new hire failure rates
It’s not everyone who gets recruited, retains in that organization. There are millions of different
reasons causing new recruitments to leave the organization. The higher this rate, the lesser your
recruitment process makes an impact on the existing employees as well as the overall organization.
So, every business organization will always focus on reducing the rate at which new recruitments fall
out.
Improve the employee brand value
On the right side of the slide, you can see an attractive recruitment poster that is posted on social
media. Such strategies increase the brand value that the organization builds for an employee as
opposed to just posting a for on a website or a newspaper. There are various strategies as such that
affect the employees mentally to be attracted towards organizations that value the employees’ brand.
Build a talented employee base
An organizations backbone is its employees. The stronger the employees are talent wise, the stronger
and smoother the processes of the organization are. So, it’s obvious that every single organization
seeks to build a talented employee base, mainly through this goal.
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Achieve SMART recruitment Goals
The SMART recruitment goals are namely Specific, Measurable, Attainable, Relevant and Time-Bound.
The questions each goal addresses with regards to recruitment can be found in the image attachment
above. The afore mentioned SMART recruitment goals are the overall recruitment essentials an
organization aims in attaining when recruiting new blood.
Business Strategies with regards to Talent Attraction
Attracting talent across various generations
This strategy is in place to address the business goal of ‘Diversifying sourced candidates. It is commonly
known as well as witnessed in most cases with regards to corporate context that different generations
possess various skills and knowledge that are unique to them. To get hold of all those different skills,
prioritizing the ones your organization really needs, businesses can proceed to recruit potential
employees across various generations.
Employee Referral Programs
Employers might use an employee referral program as a recruiting tool to encourage current
employees to recommend qualified jobs in the same company rather than recruiting new candidates
an incurring a recruitment cost. By doing this, you not only succeed in finding fresh talent but also
raise the spirits of your current employees.
Job Advertising
Advertising your jobs to attract potential talent is a very effective way of gathering the skills you need
to attain your organizational goals. This way many unique individuals with vast skills and experience
may reach out looking to be part of the organization, from which the organization can filter the
candidates and recruit the best.
Strong Employer Branding
Without a great employer brand, no business can succeed. You also need employees who share your
beliefs if you want to succeed. Therefore, focusing on employer branding as an efficient talent
attraction strategy. To recruit top personnel, it is important to build an employer brand that is both
attractive and representative of your business's basic values.
Social Media Recruitment
In the ever-developing social world, social media is a big part of anyone’s day-to-day life. We see
advertisements and pop-ups about jobs every hour when scrolling through our social media.
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Advertising in such platforms is also a modern and very effective way of attracting potential talent to
your organization.
Candidate Relationship Management Tools
In the subject of job advertising and social media recruitment, there are many platforms and tools that
have been introduced with the dawn of the internet. Jibe, Yello, Talemetry and TalentLyft are some of
such tools to manage relationships with your organization and potential candidates looking to apply.
(Kimberlee, 2019) LinkedIn is also another platform that can be used to maintain such relationships
with your organization and potential candidates.
Corporation with Universities
Many universities hold events where organizations can put up stalls and call out for university students
looking for jobs. An example of such is Unilever Sri Lanka conducting job hunting workshops at the
National School of Business Management each year to encourage students to join their workforce
after their studies. Through this, businesses can recruit highly qualified candidates to help attain their
organizational goals.
Business Goals with regards to reward Management
In today's environment, doing business is quite difficult. to maintain profitability in the fiercely
competitive and global market economy
Increasing the rates of recruitment and attraction, an organization's improved talent attraction and
recruitment method is taken into account when choosing a candidate. Better business outcomes
result from a client hiring and selection procedures. The best personnel are hired and retained, which
results in higher-quality goods and services. by finding, hiring, training, and keeping the greatest
employees increases the company’s financial success. (Wright & Christensen 2010)
Motivation of performance is a Greater collaboration and teamwork are necessary for a successful
management of the business context among employees in various functional groups inside various
businesses. The consistent element has been the ways in which managers encourage and support
employees and motivate them in achieving both corporate and individual goals. Therefore, effective
communication methods have become more crucial to get in all organizations to control the current
performance of the employee and to inspire them for higher performance. (Rajhans 2009)
Creating positive organizational culture - Every organization must consider its business context
culture. It may be the deciding factor in the organization and ability to recruit and retain employees,
it may have an effect on production and profitability, and it may ultimately be the difference between
success and failure. A simple but extremely e effective strategy to guarantee that the organizational
culture contributes to the reward continuous success is to build it around the ideas of employee
rewarding and recognizing the workforce. (Parent & Lovelace 2018)
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People choose to work for reputable companies over their former and present employers. The kind of
talented workers who are eager to make their next job their home rather than merely a steppingstone
will be drawn to a company with a favorable culture. Therefore, an organization gains a competitive
edge from having a positive culture. (Parent & Lovelace 2018)
Improve employee skills and knowledge is capacity to express how they can make a difference in the
workplace and receive rewards for their talents and work performance can be improved with the goal
of taking on new tasks at work. Employees that possess knowledge, competence, and initiative are
preferred by employers (Rajhans 2009). An employee who is assured of their abilities and who can
actively display their abilities will be regarded as a benefit to the business. Increasing employer
knowledge makes job applicants more competitive and helps them stay current in their industry.
Employers strive to get a call back on your application and boost your chances of getting employed
when they realize that you have the skill and knowledge set, they need. (Ampoamah 2016)
Business strategies with regard to reward management
Introduce and improve performance plan
The major purpose of performance management plan is managing employees according to their
performance that effect to the overall company performance and HR department involves
determining the reward according to this plan. Reward management scheme is very important to
influence the employee behavior (Amin Karami, September 2013). The major objectives of the
performance plan to the reward management is,
•
•
•
•
To support to reach organizational goals and objectives by aligning employees
To ensure that organization recruit the right employees with right skills
To motivate the employees
Manage the risk of preference of employees
Improve performance management process
Performance influencing reward management systems decrease the labor cost and increase the
motivated performance of the employees (Lawler, 2003 ). There are some ways to improve
performance management as below.
•
•
•
Use technology foe particular departments
Get ideas from not only the top management but also the employees who are working
Always look for the new strategies
Reward people for develop their professionalism
Having a superior professional development plan conduct organization to rise the employee retention.
On the report of SHRM survey (Society of Human Resource Management) only 30% of employees are
7
convinced with their organizational professional development. The paramount of this professional
development and satisfaction can reduce the negatives among employees and as the result the
turnover of the employee will reduce (Stephan A Stumpf, Wolter G Tymon , 2016 ). To develop the
employee professionalism organization can introduce below activities such as;
•
•
•
•
Develop workplace skills & interpersonal skills
Improve leadership & responsibilities
Expand the organizational professional area
Mentoring & motivation programmes
Recognize individuals for quality standards
Recognition individuals is a process that identify the unique characteristics and equate that
characteristic for the specific tasks in the organization with a better-quality standard. As the results of
recognition individuals for quality standards employees has been acknowledged for their own
organization performance in superficial manner. This function includes the proper financial
compensation, employee team collaboration, what are they reached milestones in specific time frame
etc. (Luthans, 2000). The best way to promote the recognition of employees is providing employees
with opportunities to learn & help employees that themselves are better at current they are doing in
their job roll.
Introduce competency and skill-based payment system
Competency and skill-based pay is a structure of payment based on their competencies, skills,
knowledge, abilities and experiences rather than their job position. The competency-based payment
system offer employees to achieve their payment rate by improving their own competencies with
their job positions (Ledford, 2011). This kind of payment system can improve the organizational
performance and also,
•
•
•
•
Company overall motivation
Increase transparency
Reduce the turnover
Self-motivation
Recommendations for Improvement
Issues identified in talent attraction
Shortage of skills
While employers in every sector are fighting to fill vacancies, it is particularly di cult for those in the
skilled professions to find qualified candidates. Various negative repercussions on the company can
result from a workforce shortage. as a solution e ective new employee training is also crucial for
keeping new workers on board. A wonderful strategy to inspire employees and develop their skill sets
for the job is to make use of knowledgeable sta and regular training sessions.
8
Getting past the “steppingstone” mentality
Jobs are typically seen less as long-term professions by young professionals and more as
steppingstones. Instead of settling down and devoting a significant portion of their lives to your firm,
they are more likely to take a job for a few years and then move on.
Salary is a significant factor in this case. According to statistics, bright workers can earn significantly
more money by switching jobs than they do through yearly rises at a single employer. You'll increase
retention if you can build a reputation for rewarding your top employees with raises and promotions.
Continual learning and development initiatives are another way you may invest in your personnel.
Issues identified in Reward management
Incentives not motivating employees
Although there are many incentives in place to reward employees, it is still difficult to keep them with
the company. as a solution
1. To periodically or yearly propose new rewarding criteria.
2. To identify and recognize individual talents rather than bulk recognitions or rewards to departments
or teams.
Companies implement new incentive criteria to put motivation theories into practice. through
establishing reward criterion systems that link compensation to output. By the way, employees can
be motivated without incentives, and they can receive concrete recognition for their e orts by taking
a look at their prizes.
Rewards being unable to attract skills
Today, the majority of corporate incentive programs are created with the assumptions of previous
employers about what their employees wanted from their positions and skill set.
Rewards will not attract skills, if those skills aren’t appreciated individually. The solution is that key
skills should be identified within the organizational employees and reward them based on how well
they performing those respective skills sets. It’s a recommendation that organizations also stress more
on skills-based rewards rather than goal attainment and team recognitions.
9
Conclusion
With the study it is confirm the people that work for a company are its foundation. The organizational
procedures are stronger and run more smoothly the more talented the people are. considering the
study, it is clear Employers may implement an employee recommendation scheme to incentivize
current staff to suggest qualified positions inside the same organization. In this way, numerous
distinctive people with a wide range of abilities and experience may approach the firm in search of a
position. With the advent of the internet, numerous platforms and technologies have been developed
to manage interactions with the organization and potential applicants. There are many tactics that
psychologically influence employees to be drawn to companies that cherish their brand. The acronym
stands for Specific, Measurable, Attainable, Relevant, and Time-Bound goals, which are used in
recruitment. Considering the generations, it is confirmed that Baby Boomers, Generation X,
Generation Y, and Generation Z are the four generations represented in the modern workplace. The
study also shows that a corporation needs to diversify its candidate pool in order to access all the
diverse talents and skills.
10
References
Abdulwase, R, Faroq, A, Fuad, N, Asma, A & Shuangsheng, Y, 2020, ‘The role of business strategy to
create a competitive advantage in the organization’, Open Access Journal of Science, vol. 4, pp. 135138.
Amin Karami, H. R. D. D. S. R., September 2013. Analyzing the Effectiveness of Reward Management
System on Employee Performance through the Mediating Role of Employee Motivation Case Study.
Ampoamah, P 2016, ‘“The Effect of Training and Development on Employee Performance in a Private
Tertiary Institution in Ghana” (Case Study: Pentecost University College (Puc) - Ghana)’, Asian
Journal of Social Sciences and Management Studies, vol. 3, no. 1, pp. 29–33.
Bratton, J & Gold, J, 2012, Human resource management: theory and practice, 5th edn, Palgrave
MacMillan, London.
Kimberlee, 2019, 7 Best Candidate Relationship Management Tools for Recruiters, Harver, viewed 19
August 2022, <https://harver.com/blog/candidate-relationshipmanagementtools/#:~:text=The%20CRM%20is%20a%20marketing,candidates%20into%20their%20t
alent%20pools.>.
Kramar, R, Bartram, T, De Cieri, H, Noe, A, Hollenbeck, R, Gerhart, B & Wright, M 2014, Human
resource management in Australia: Strategy, people, performance, 5th edn, McGraw-Hill, Sydney.
Lawler, E. E., 2003, REWARD PRACTICES AND PERFORMANCE MANAGEMENT SYSTEM
EFFECTIVENESS. Volume 1.
Ledford, G. E., 2011. skill based pay.
Luthans, K., 2000. A Powerful,but often Overlooked,Leadership Tool to Improve Employee
Performance. the journal of leadership studies, Volume 7, p. 1.
Parent, JD & Lovelace, KJ 2018, ‘Employee engagement, positive organizational culture and
individual adaptability’, On the Horizon, vol. 26, no. 3, pp. 206–214.
Rajhans, K 2009, ‘Effective Organizational Communication: a Key to Employee Motivation and
Performance’, Interscience Management Review, vol. 2, no. 2, pp. 145–149.
Stephan A Stumpf, Wolter G Tymon, 2016. Leading to intrinsically reward professionals for sustained
engagement.
Stone, J, 2014, Human Resource Management, 8th edn, John Wiley & Sons, Milton.
Stroud, J, 2020, Talent Attraction: What it is and things to think about, Proactive Talent, viewed 20
August 2022, <https://blog.proactivetalent.com/talent-attraction-what-it-is-and-things-tothinkabout#intro>.
Wright, BE & Christensen, RK 2010, ‘Public Service Motivation: A Test of the Job Attraction–
Selection–Attrition Model’, International Public Management Journal, vol. 13, no. 2, pp. 155–176.
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Contribution Sheet
Name
Trinesh Andradi
Contribution
•
•
Bimalka Arumapperuma
•
Damith Bandara
•
•
•
Shamal Pingamage
•
•
Business Goals with Regards to Talent
Attraction
Business Strategies with Regards to
Talent Attraction
Business Goals with regards to Reward
Management
Recommendations for Improvement
Introduction
Business Strategies with regards to
Reward Management
Executive Summary
Conclusion
12