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WRITTEN ASSIGNMENT        18
WRITTEN ASSIGNMENT
Table of contents
Introduction    4
Background    4
Purpose of the Talent Management Plan    5
Scope of the Plan    7
Thesis Statement    8
Staffing Plan and Recruitment Strategy    8
Forecasting Recruitment Needs    8
Replacing the 10% Workforce Lost to Retirement    8
Recruiting Methods and Selection Methods    8
Evaluation of Recruiting Methods    9
Rationale for Selecting the Primary Recruiting Method    9
Evaluation of Talent Selection Methods    10
Onboarding and Orientation Program    11
Components of the Onboarding Program    11
Employee Development and Employee Engagement    13
Employee Development Solutions    13
Promoting Employee Engagement    14
Performance Management    14
Assessment Instruments and Methods    14
Turnover Analysis and Retention Strategy    14
Identifying Reasons for Increased Turnover    14
Designing a Retention Strategy    15
Conclusion    17
References    18
Introduction
Background
A mid-sized business with a focus on producing and marketing sports gear and apparel is ABC Athletics Co. The company has been in operation for more than 20 years and has made a name for itself as a reliable participant in the sports sector. ABC Athletics Co. has grown consistently throughout the years because of a mix of creative product development and successful marketing tactics. However, ABC Athletics Co. has recently seen major changes in its operational environment, necessitating the requirement for an elaborate personnel management strategy. Here are these alterations:
· Sales Growth: Sales at ABC Athletics Co. have increased significantly during the last few years. Successful product introductions, improved brand awareness, and an expanding clientele are all factors in this expansion. Although this increase in revenue is clearly a good thing, the current staff is facing significant challenges as a result (Hu et al., 2023).
· Turnover Rates: Despite the company's sales success, over the past five years, the turnover rates among its manufacturing staff have increased alarmingly. This turnover rate is alarming since it not only interferes with production procedures but also results in high expenditures for hiring and training new staff.
· Anticipated Workforce Changes: A wave of retirements will provide management issues for ABC Athletics Co. in the future. In the following three years, 10% of the current workforce is anticipated to retire. The upcoming wave of retirements presents the combined difficulty of finding replacements for seasoned workers while also assuring a seamless transition.
· Talent Management Gaps: It has become clear that the organization's present talent management procedures and tactics are insufficient to properly handle these workforce developments. To effectively handle these hurdles, ABC Athletics Co. understands the need for a more comprehensive and integrated people management approach.
ABC Athletics Co. has recruited an HR director (you) to oversee the creation and execution of a new personnel management strategy in light of these changes. In order to ensure sustained growth and ongoing performance, this strategy strives to match the organization's personnel acquisition, development, and retention strategies with its business objectives.
By emphasizing crucial areas including recruiting, onboarding, employee development, performance management, and retention, the talent management strategy will focus on these difficulties. ABC Athletics Co. seeks to position itself for long-term success in the cutthroat sports business by aggressively addressing these issues and putting forth practical solutions.
Purpose of the Talent Management Plan
The Talent Management Plan has many aims that include addressing particular problems encountered by ABC Athletics Co. and coordinating talent management procedures with the organization's overarching goals and objectives. The following sections give a thorough explanation of the goal of the strategy:
· Managing Growth: Sales at ABC Athletics Co. have significantly increased, signaling a period of tremendous expansion. The main goal of this strategy is to properly manage this expansion by ensuring that the company has the skills needed to fulfill the rising demand for its products (Wu et al., 2023). The strategy will enable sustainable expansion without sacrificing the quality of the products or customer happiness by assessing staffing needs, enhancing recruiting procedures, and training personnel.
· Mitigating Turnover: The proposal tackles the issue of manufacturing workers leaving often. By determining the underlying causes, putting retention tactics into place, and improving the entire employee experience, the goal is to reduce turnover. Keeping employees steady and seasoned not only lowers expenses but also promotes consistent product quality and client loyalty (Carmichael et al., 2021).
· Managing Workforce Transitions: The plan's goal is to handle these upcoming workforce changes successfully as a sizeable percentage of the workforce approaches retirement. Planning for succession is necessary to guarantee that qualified internal candidates fill key positions, and methods for attracting experienced talent from outside sources are also developed. Keeping interruptions to a minimum throughout the retirement stage is the aim.
· Enhancing Talent Management Practices: The strategy aims to enhance the organization's current talent management procedures. The goal is to develop a more thorough and integrated approach to talent management by coordinating these practices with industry best practices and strategic goals (Viger, 2020). This involves expediting hiring, improving onboarding, and offering distinct career pathways for staff members.
· Ensuring Business Continuity: ABC Athletics Company is aware of how crucial business continuity is. The goal of the strategy is to prevent an organization from being unduly dependent on any one employee or group of workers. This is accomplished through providing staff with cross-training, creating leadership pipelines, and putting in place effective performance management procedures (Friga & Friga, 2020).
· Fostering Employee Engagement: Encouragement of employee participation is one of the plan's main goals. Employees that are engaged are more likely to stick with the company, give their all, and have a favorable effect on the office environment. The strategy calls for activities that will help employees advance their careers and provide supportive environments at work to increase participation.
· Achieving Organizational Excellence: Helping ABC Athletics Co. achieve organizational excellence is the main goal of the talent management plan. This entails placing the proper individuals in the appropriate roles, continuously enhancing performance, and preserving a market competitive edge. The company wants to become a leader in the sports business by carefully managing personnel.
In conclusion, ABC Athletics Co. uses the Talent Management Plan as a thorough and strategic road map. It is intended to solve particular workforce issues while coordinating personnel management with the organization's overarching goals. The strategy hopes to attain excellence in the sports business by achieving this through supporting growth, lowering turnover, managing transitions, improving practices, ensuring continuity, encouraging involvement, and more.
Scope of the Plan
This strategy will address a variety of personnel management topics, including as staffing...