ATAR Notes: Forum
Uni Stuff => Universities - Victoria => University of Melbourne => Topic started by: saf123 on May 16, 2013, 02:54:42 pm
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have not done the conclusion yet but please provide feedback if it makes sense and if i have answered the question
Task: What are the main dimensions considered by your organisation or an organisation you know of when making decisions about a retention strategy? Discuss and suggest ways in which an organisation can retain talent with deep rooted values that build employee identity and commitment.
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In order to find ways to retain talent is to focus in the field of talent management procedure within the organization, which would highlight valuable productive aspect of the organization, and draw a clear picture where such talent is effective for an organization or irrelative. As many organizations now have discovered in order to achieve better performance and increase organization productivity, it is essential to retain talented individuals; Wellins in his articles stresses the need of talent in an organization he argues “Organizations know that they must have the best talent in order to succeed in the ever competitive and increasingly complex global economy.” Wellins et al (p. 1) many would agree in order to maintain talent is to meet the needs of the individual therefore developing a sense of belonging and engagement with the organization. Aegis Australia is the organization that I work for, that takes care of its employees by meeting their needs and requirements which in return employee stay for a long term and achieve better performance from its employees.
According Likierman (2007) Talent management is defined as “additional management processes and opportunities that are made available to people in the organization who are considered to be talent”
An organization that has constantly maintained a finalist position in for over three years in the Human Resource (HR) strategy recruitment for ‘Australian HR award’, and the company that I personally enjoy working for is Aegis Australia, number of reasons why they have managed retained such admirable position amongst top organisations in Australia, as an employees for Aegis for over four years now I have observed and discovered that the company strives to meet the employee needs therefore motivating employees to meet organisations target and set goals. Aegis approach is hiring and developing staff within the company. Providing career progression , has contributed to the community where employees select the charity organization that they would like to donate to, Aegis has created a diverse culture environment, it has allowed employees to obtain discounts for gyms, social club, flu vaccinations , massages and counseling, all the strategy that they have taken are to include the employees with the organization. Aegis Australia, strongly believes that providing and promoting opportunities to people within organization is cultivate talent. Organisations have emphasised on talent management because of number studies that has confirmed the increased performance where talent is managed correctly. “A 2007 study from the Hackett Group found companies that excel at managing talent post earnings that are 15 percent higher than peers. For an average Fortune 500 company, such an improvement in performance means hundreds of millions of dollars.” Wellins et al (p 179).
As the new generation of workers have started, their requirement has changed. They are focused more flexible jobs depending on their own needs. By offering a competitive benefits package that fits employee’s needs. It may be life insurance and a retirement savings plan is essential in retaining employees or other advantages, such as flex time and the option of telecommuting, employees feel more comfortable and at ease being part of the organisation allowing them to stay with the company. According to Clark 2010 “Give them a quick response, good information, and a personal touch, and loyalty is created.” (p.49). Aegis Australia provides, flexible hours and working from home this has gained my loyalty and commitment towards the organizations.
Employees that are not engaged with the organization tend to loss interest therefore affecting performance or worse leaving the organization. “talent savvy organizations support their
key people on the issues they care about most: doing work that engages them, learning how to do it even better, encountering fresh challenges, and interacting with people in positive ways.” Wall and Aijala (2008 p. 2) engaging employees from day one, having an induction program. This will allow both side to understand what is required of the employees and what the organization offers the employees.
The employee will make judgment for a long term stay within the company from the first few months. By having formal and inform meetings with the employees will allow to know what is expected of them. By involving employees in decisions that affect their jobs and the overall direction of the company whenever possible. They will never feel a part of the company strategy if they simply read it in an email. Give regular performance feedback. Praise good efforts and celebrate success. “The ability to effectively hire, retain, deploy, and engage talent at all levels is really the only true competitive advantage an organization possesses” WELLINS et al (p 179) Aegis has implemented a rewards and recognition program for the employees that is made up of group employees which hold events for the company based on employee opinion and weekly prizes and foods distribution.
Talented employees require challenges and further development which is why they are high performers, organizations require implementing and having in place training programs or career progression opportunities, as people feel at ease when there is more career movement instead of staying at the same position when they constantly perform well “There is the need to focus on organizational development and training and development that assist in making capabilities match with vision.” KEHINDE 2012 (p. 185). If not given this create employees to lose interest and look elsewhere. Aegis career progression, for agent it requires them to get certificates through Aegis and promoted higher up to get a diploma for team leaders and other certificates for the senior managers.
The quality of a manager or supervisors, the way they treat and deal with the employees impacts the employees pre ; if it is negative it create less self esteem and enthusiasm. Losyk 2010 “Intimidating managers, affects employees job satisfaction. This only leads to more stress and burnout. Eventually, people leave a good organization because of a bad supervisor or manager.” (p.16) Therefore people leave managers and supervisors more often than they leave companies or jobs. It is not enough that the supervisor is well-liked or a nice person, starting with clear expectations of the employee, the supervisor has a critical role to play in retention. Anything the supervisor does to make an employee feel unvalued will contribute to turnover. Frequent employee complaints centre on these areas. lack of clarity about expectations, lack of clarity about earning potential, lack of feedback about performance, failure to hold scheduled meetings, and failure to provide a framework within which the employee perceives he can succeed. Losyk 2010 “Intimidating managers, are destroying people’s morale and job satisfaction. This only leads to more stress and burnout. Eventually, people leave a good organization because of a bad supervisor or manager.” (p.16)