Four factors that affect an organisations approach to talent
Economic environment: whilst the economy is on a down turn and there are a large amount of unemployed the company may have more than normal candidates to choose from and the possibility of taking on employees at a higher level, however once the economy takes an upturn and the job market improves the employees may move on unless the company provides a competitive salary/benefits package or prospects for development.
Benefits: a benefits package is added value to an employee, if flexibility is offered within the package, to reflect the age, family needs and life style of a candidate this will attract a wider range of applicants and help to retain existing employees.
Training and Development: will attract more candidates who are looking to expand their skills and better their careers; this will also help to retain staff within the company as they will be encouraged to apply for promotions or move within the company.
Location of the place of work: if it is out of town with no public transport links or good road networks to the location the company would attract fewer candidates. A lot of employees don’t like to travel too far to work and prefer to work nearer home. In a less populated area a company would have to look further a field as the job skills may not be available in the area.
Three benefits of attracting and retaining a diverse workforce
Increase in profit: Companies can use their employees to help with their understanding of the needs of our multicultural society. As an example: within a retail employees could advise the company on specialised products to sell, in turn this could encourage more sales within the store and potentially increase profit.
Increased levels of customer service: A diverse workforce will increase the levels of customer service; it can provide help with language barriers and the understanding of different needs within cultures. Age is also a factor,...