5RST Assignment Example
5RST: Resourcing and Talent Planning
AC 1.1. The Labour Market Trends in The United Kingdom and France
The UK economy has been doing better during the last 10 years than France. In particular, the UK has lower unemployment rate and higher labour productivity than France (Coleman, 2018). However, it is important to recognise that discrepancies in economic performances between countries can have various causes, including differences in productivity increases across industries. In The United Kingdom, there is a considerable man to women ratio difference in the Labour market. In most areas, the number of men employed is higher than women. However, the industry with the highest number of women employed is Administrative and Support service activities. The employment rate for the population in France is over 60%; but the UK’s rate is nearly 75%. By 2022, it is expected that the United Kingdom will experience a labour shortage. The population aged 65 and over will increase by around 2 million, while the working age population will not change substantially (Coleman, 2018). This employment rate of the population has a significant impact on the growth and development of these countries. For example, if developed countries have a high employment rate then this means that more people are willing to work and contribute to economic development which in turn increases income per capita.
The labour market in the United Kingdom is characterised by a high degree of flexibility, and it has grown more flexible over recent years. The unemployment rate has declined since 2013 to its lowest level since 1975, at 3.8 per cent in March 2019 (Coleman, 2018). The participation rate has also been increasing since early 2014, now at an all-time high of 76.1 per cent. The share of long-term unemployment (persons unemployed for longer than one year) has decreased from 5.2 per cent in 2017 to 4.5 per cent in 2018, but remains a challenge for policy-makers as it is higher than the OECD average of 3.2 per cent (Coleman, 2018). The United Kingdom has experienced a long run of employment growth and a decline in unemployment. Wage growth turned positive in 2014 and has remained solid, but inflation is still low by historical standards, at about 0 percent. The French economy continues to struggle, with stubbornly high unemployment currently around 10 percent (Thomas, 2018).
In the final quarter of 2017, France experienced its best growth in a decade. Official figures indicate that the French economy expanded by 0.6 percent (Coleman, 2018). The UK saw a less than stellar 0.4% growth rate during this same period; however, job growth has been consistent since 2013 when compared to other eurozone countries. Post Brexit, the UK and France are expected to experience shortages in labour markets due to the departure of EU immigrants. The UK economy grows with GDP growth of 7.5% in 2021, down from a fall of 9.5 per cent in 2020 (McAuley, 2022). This was one of the weakest performances among G7 countries and far below the 2.5% average of the previous five years. The reduction in pace is linked to the uncertainty surrounding Brexit and its consequences for both global demand and private consumption. The labour market remains, however, robust and all indicators are at levels close to record highs, meaning that Brexit has not yet caused any damage to jobs or wages.
AC 1.2. The Significance of Tight and Loose Labour Market Conditions
According to Lastauskas and Stakėnas (2020), a tight labour market is one in which there are more job openings than applicants. When there is a high demand for goods and services, employers are willing to expand their workforces to meet that demand. In a tight labour market, employees have the upper hand because they know that they can easily take another job if they are dissatisfied with their current employer. Employees may be able to negotiate higher compensation, more paid time off and other perks. In an open labour market, the opposite is true. There are more applicants than jobs available, so employers hold most of the cards, and employees must compete for a limited number of positions. In this type of economy, companies can pay less because they know that people will accept low wages rather than going without work entirely (Lastauskas & Stakėnas, 2020). When an economy is in the middle, neither tight nor loose, it is called a balanced labour market. In this economy, employees can negotiate reasonable compensation but have less leverage than in a tight or loose labour market.
AC 1.3. How Organisations Position Themselves Strategically in Competitive Labour Markets
To attract and retain the best employees, organisations must adopt a strategic approach to their employment brand. A strong employment brand should be seen as a strategic investment rather than a tactical marketing exercise (Leiber et al., 2019). It will increase the ability of an organisation to attract talent, improve employee engagement and retention, and drive down recruitment costs. Employers need to invest in their reputation among their current employees and prospective ones. Organisations with a clearly defined employment brand find it easier to attract high calibre candidates and retain existing staff. It provides an extra incentive for people to work for them or stay with them when faced with competitor choices. Despite this, many organisations have yet to grasp having a strong employment brand (Leiber et al., 2019). It is likely that these employers do not see recruitment or retention as essential issues or do not have time or resources to focus on it. The reality is that recruitment and retention are critical issues for all organisations regardless of size, sector or location. Many organisations fail to tackle the issue head-on by investing in their employment brand.
AC 1.4. The Role of Government, Employers and Trade Unions in Ensuring Future Skills Needs are Met
When it comes to determining the demands of society in the future, there are three key players, the government, employers, and labour unions. The government ensures that all citizens have access to a good education (Emmenegger et al., 2019). Employers are responsible for providing relevant training to their employees to ensure that they can meet the demands of their job. Trade unions need to do their best to protect workers’ rights while also encouraging them to retrain and learn new skills when necessary.
The government is responsible for providing all citizens with easy access to a sound education system (Emmenegger et al., 2019). It includes funding public schools and universities and making sure there are enough teachers available for each classroom size by offering incentives for people who want to become educators and providing scholarships or loans for those who want higher learning but cannot afford their income from work.
Employers must provide relevant training to their employees to ensure that they can meet the demands of their job. Suppose an employee does not receive proper training (Emmenegger et al., 2019). In that case, this can result in low productivity, which leads to financial loss for the company itself if not properly addressed early enough before being too late, such as cutting costs by downsizing or outsourcing work to other companies.
Trade unions are responsible for representing the interests of their members concerning their employers and the government. They should also be available to provide assistance and support for workers who feel they have been wronged by their company or are having difficulties with their employer (Jagannathan et al., 2019). Trade unions represent workers and focus on representing their rights and ensuring access to fair wages, working hours, and conditions. It includes ensuring that workers have access to learning opportunities and that their skills are not obsolete due to changes in technology or market patterns.
AC 2.1. The Main Principles of Effective Workforce Planning and Tools That May Be Used for This
Effective workforce planning involves analysing current and future workforce needs to identify if there will be a shortage or surplus of employees. HR managers and executives must then proactively address the gaps in staffing (Yong et al., 2019). To effectively plan for the workforce, organisations first need to thoroughly analyse their workforce and create scenarios based on what they expect to happen with their business in the coming year(s). They then use this information to develop plans that ensure positions are filled with competent candidates.
The Principles of Effective Workforce Planning
Thoroughly understand the organisation’s goals and objectives. In particular, Human resource managers need to understand their organisation’s current needs and any future requirements that may need to be addressed. Skills that they currently lack, longer-term needs, the projected growth rate for the business (Yong et al., 2019). These factors will help HR determine which positions need to be filled to achieve their goals and objectives.
Understand the organisation’s culture, including its values and expectations. For example, if the organisation focuses on customer service, HR may need to recruit people with the necessary skills. HR also need to consider what types of employees will fit nicely in the organisation’s culture. For example, if a company has a high turnover rate in one particular area of the business, perhaps HR needs to hire workers who are more interested in job security than a high salary.
Consider the cost-benefit of each position. It helps to identify how that position help achieves the organisation’s goals, additional training and education that will be needed (Yong et al., 2019). It helps HR ensure that this position attracts only qualified candidates, how much turnover is acceptable for this position, and if there will be any extra work associated with filling the position.
The Tools that Can Be Used
Talent pools are pools of pre-identified talent in each job family/function that can be used as a source pool to fill vacancies in these areas (Tambe et al., 2019). These pools are developed and maintained in-house or with the help of consultants.
Succession management identifies potential successors for critical positions and maps their development needs (Tambe et al., 2019). It also involves the identification of high potential talent within the organisation who could fill senior-level positions within a short period.
Competency mapping refers to identifying competencies required for key positions within an organisation and mapping them against existing competencies at different levels (Tambe et al., 2019). It enables the organisation to identify talent gaps and plan appropriate training interventions.
Retention strategies, attrition is one of the most prominent challenges organisations face today. The cost involved in losing talent is very high (Tambe et al., 2019). It leads to loss of knowledge, disruption in business processes, reduced productivity and requires hiring from outside, which may take a lot of time and effort.
AC 2.2. HR’s Role Developing Essential Succession and Career Development Plans
Succession plans focus on filling critical roles in an organisation, while career development plans are individualised strategies for improving skills and achieving professional growth. HR professionals play a crucial role in establishing and maintaining both types of plans. HR departments handle the logistics of developing career development plans, including providing training opportunities that support long-term professional growth (Griffith et al., 2019). Succession planning involves more complex processes than career development, such as identifying high-potential individuals, assessing performance, and working with other departments to support talent retention efforts.
HR encourages employees to develop their skills for better performance and create a talent pipeline for the future. Human Resources can help this process by helping each employee identify and develop their skills, helping managers identify the critical competencies needed to perform their jobs, and ensuring that there are steps to ensure that employees are given career opportunities within the organisation (Griffith et al., 2019). HR can also help managers identify critical competencies needed for job success by working with them to define specific measures of success for each position. They can then implement recruitment and training programs that help people gain those competencies.
AC 2.3. HR’s Role in Contributing to Plans for Downsizing an Organisation
When downsizing, companies must examine the impact of their decisions on various stakeholders. The primary stakeholder who will be impacted by the decision to downsize is the employee (Mujtaba & Senathip, 2020). Suppose a company does not pay proper attention to the needs of its employees. In that case, they will be violating the occupational safety and health act, which may lead to lawsuits against the company. The HR department plays a vital role in ensuring that employees are well taken care of before, during and after downsizing. The HR department ensures that employees receive fair treatment during downsizing. Companies must decide which departments or sections should be affected most during downsizing. The HR team has a duty of advising the management on which departments should be left out of downsizing plans.
Regarding Mujtaba and Senathip, (2020), the HR team also ensures that employees who have been affected by downsizing receive adequate compensation during layoff periods. The process of laying off employees is quite traumatic for them, and hence companies must help their employees get back on their feet as soon as possible after layoffs.
AC 2.4. Hr’s Role in Contributing to Developing Job Descriptions, Person Specifications and Competency Frameworks.
Aligning jobs to roles and responsibilities is a crucial responsibility of HR. It can be done in many ways, including job description, person specifications, and competency framework. Job Description, defining each job’s role and responsibility is essential for managing the HR function (Mills et al., 2020). Job descriptions are often used to define what is expected from each role and may list activities, reporting relationships, and skills required for the role. Person Specifications, the HR department plays a significant role in the recruitment process of employees. It is therefore essential that the HR department has a good understanding of the requirements of each position. A well-defined job description, which clearly defines each employee’s duties and responsibilities, helps to ensure that employees are hired who are best suited for the position (Mills et al., 2020). The person specification is one of the first documents prepared by HR when recruiting new employees. This document highlights all the critical requirements for a candidate to succeed in a particular role and is used as a basis for hiring interviews. In incompetency frameworks, the HR team describes the knowledge, skills, and experience required by staff to perform at their best in any given role. Competencies may be identified as part of a job description and then assessed as part of the performance management system or recruitment process.
Ac 2.5. Explain Some of the Leading Legal Requirements About Recruitment and Selection
The main legal requirements for recruitment and selection include equal opportunity, advertising and recruitment, data protection, and employment contracts. Equal opportunity. Discrimination in the workplace is prohibited in all areas of employment, including recruiting and selection, under the legislation (Hamza et al., 2021). Discrimination occurs when an employer treats a job applicant or employee less favourably than others in similar circumstances because the applicant or employee has one or more personal characteristics protected by anti-discrimination laws. These include sex, race, pregnancy, marital status, disability, homosexuality, and transgender status (Hamza et al., 2021). Employers should ensure that they know their obligations under the relevant anti-discrimination laws in their jurisdiction.
Advertising and Recruitment. Employers should not discriminate against applicants when advertising for employees or recruiting staff. Employers should also ensure that they comply with any industry-specific requirements for advertising for employees and recruiting staff (Hamza et al., 2021). The data protection law protects the data of individuals held in computerised records or manual filing systems. It applies to all companies that control or process personal data about individuals. It means that employers must only collect relevant information and store it securely for employment purposes. In addition, they must not disclose information without consent unless there is a legal justification. Formulate employment contracts. Contracts are legally binding agreements between an employer and employee. They set out each party’s rights and obligations. Employers must understand what terms are included in their employment contracts as they may have legal consequences if they are not adhered to.
Ac 2.6. Briefly Assess the Strengths and Weaknesses Of At Least Two Different Recruitment and Selection Methods
Recruitment and selection of employees is a crucial task of the HR department. The HR manager should have in-depth knowledge about the various recruitment and selection methods (Sauer-Zavala et al., 2018). They should be familiar with their merits and demerits so that they can select an appropriate method that meets the requirements of their organisation.
Recruitment by Advertising
Recruitment can be done through local newspapers, trade journals, professional magazines, employment exchanges and the internet. However, recruitment through the internet has become most popular as it is cost-effective and reaches a more significant number of candidates faster (Sauer-Zavala et al., 2018). Also, the employer gets a chance to choose from a large pool of talent. The process of advertising is also speedy and easy to implement. On the flip side, there is no guarantee that interested people will respond to an advertisement or that they will be suitable for the job. Therefore, it may waste time for both the recruiter and the candidate if it does not work out well for either party.
Employment agencies are organisations that help to match employers and employees on a pay-per-hire basis. They charge a fee from employers to find suitable candidates for vacancies in their organisation (Sauer-Zavala et al., 2018). However, this method has become unpopular as it is time-consuming, expensive and inefficient. It also puts pressure on the employer during the selection process, due to which it may be not easy to choose candidates with the right skills required by an organisation.
In this method, candidates visit the company premises or call on the telephone to get information about openings (Sauer-Zavala et al., 2018). If they find any suitable position available in their area of interest, they can apply at the time of walk-in. This method is cost-effective as it saves on advertisement costs. However, there is a risk of wasting time for both the recruiter and the candidate if the walk-in does not work out well for either party.
Ac 3.1. Explain Why People Leave or Remain with Organisations and Briefly Summarise Some Dysfunctional Employee Turnover Costs.
People leave their companies for a variety of reasons. They may be dissatisfied with the working environment or unhappy with the opportunities for promotion. They may have difficulties getting along with their colleagues or superiors or find that the company is not offering them the salary and benefits package they are hoping for (Gupta & Singh, 2020). Others leave because they want to gain new skills, change their careers, or move to a different city or country. People stay in organisations for similar reasons. The work environment can be a crucial factor. Being part of an innovative and dynamic company is often stimulating enough to retain the best employees, even if it means making some compromises in terms of salary and benefits. Team dynamics can also play an important role. People who get along well with their colleagues tend to stay in their jobs longer than those who do not enjoy their working environment.
There are a variety of expenses connected with staff turnover that is dysfunctional. It takes money to acquire and train new personnel, and other employees are often called upon to cover for missing colleagues throughout this time of transitional chaos (Gupta & Singh, 2020). There are also costs associated with higher absenteeism due to increased workloads and decreased morale among employees who feel they are taking on more work than they should be doing. If the turnover rate is high enough, it can lower productivity.
Ac 3.2. Provide A Brief Assessment of The Strengths and Weaknesses Of At Least Two Different Approaches to Retaining Talent.
More Responsibility and Autonomy
The first approach is to provide the employee with more responsibility and autonomy. It is especially effective when an employee’s role has become routine and they are bored (Cahuc, 2019). It can also be used to retain talented employees since they will have more to do to use their skills. This approach can be a problem if the employee is not prepared for the added responsibility, and it increases the risk that they will make mistakes that could harm the company.
Continual Learning Opportunities
The second approach is to provide employees with continual learning opportunities. It allows employees to expand their skillset and grow within the organisation. Further, this approach can provide employees with belonging and satisfaction (Cahuc, 2019). Additionally, this type of program can help reduce turnover. However, there can be drawbacks to this approach. For example, if the company cannot provide sufficient training opportunities, employee dissatisfaction may result.
AC 4.1. Question 6: Provide a summary of the advice you would provide to your organisation on excellent and lawful practise for managing dismissal, retirement, and redundancies
I would advise the organisation by making it clear that dismissal, retirement and redundancy are all methods of terminating employment. However, they are very different in terms of procedure. Dismissal occurs when an employee is terminated due to misconduct or poor performance (McLachlan, 2021). In this case, it is the employer’s responsibility to ensure that the disciplinary process is followed closely and that there is sufficient evidence for dismissal. Retirement is a voluntary decision by an employee to terminate their employment when they reach pensionable age. There is no strict procedure to follow in this case as it is voluntary on both parts. However, it is wise to get the employee to put their notice in writing if possible. Redundancy is when an employee’s job no longer exists, usually due to changes in technology or market demand. The employer must consult with the employees about the possibility of alternative roles within the organisation before termination.
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