Resourcing Talent in Human Resources and the Current Supply Versus Demand for a Certain Skill in the Labor Market Report

Attracting talent

Each organization has to consider the current supply versus demand for a certain skill in the labor market. In the case of high demand and a low supply of talent, an organization is compelled to seek ways to attract the right candidates (Iles 218). However; the following factors influence the attraction of talent economic, political, and social environments and brand identity.

• Economic stability- determines the availability of funds needed for recruitment and training. The availability or lack of sufficient funds influences the means and the channel an organization uses to advertise. For instance, premium recruitment firms charge high, making it difficult for upcoming or rambling organizations to afford to compete. Besides, the salary and other compensations to target employees could be competitive or at lower rates, thus affecting interest from talented employees.
• Political environment- includes policy issues and restrictions on the number of foreign employees in an organization. The current state of political instability has also compromised the ability of organizations to exercise strategic and long-term planning (Ali, Metz, and Kulik 589). These conditions have influenced the demographic changes that negatively affect the labor market.
• Social environment -involves the educational system. The type of preparation determines the actual skills and competencies achieved and if they match the level of skills needed by a company. Other social factors include culture, open-mindedness, and the ability to network.
• Brand identity- refers to how an organization views a brand name, the manner of communication, and other factors that are visible to the clients (Iles 218). A company that projects a positive reputation finds it easier to appeal to potential employees as well as retain them, compared to a company with a negative reputation. Similarly, a well-known company is perceived as stable and has higher chances to attract talented employees as opposed to a company that is yet to gain momentum.

Describing the organizational benefits of a diverse workforce

Embracing diversity has become inevitable to businesses because it ensures an organization’s competitiveness, a good reputation, and increased productivity.

• Competitive advantage- worker diversity increases competitiveness because having an inclusive workforce opens an array of opportunities as well as embracing creativity and innovation (Martin, Whiting, and Jackson 117). Besides, a company with a diverse workforce is better situated to comprehend the interests of a wide client base.
• Increased productivity- company production improves because of new talents and approaches in production. Diverse employees can provide more solutions to a wide client base due to new ideas and increased worker engagement (Martin, Whiting, and Jackson 131). For instance, a company with employees fluent in Chinese manifests efficiency when communicating with Chinese representatives.
• The reputation of a company- companies that embrace diverse workforce projects a desirable social image. Consequently, job seekers are attracted to companies that embrace diversity since it is clear that such companies practice employment inclusivism.

Describing the factors that affect an organization’s recruiting and selection

Each organization has a recruitment and selection policy that is influenced by availability or lack of funds, labor market, and legal factors.

• Financial ability- financial stability determines if the company is capable of hiring competent staff. For selection, the budget determines if external firms can plan an assessment center, and interviews or the work will be done internally.
• Labor market- the supply and demand for skilled labor is a major factor for each organization during recruiting and selection. For instance, if the demand for a certain talent is high and the supply is low, recruiting becomes more competitive. Despite the abundance of labor across the globe, finding the right type of labor remains an obstacle (Shoultz 81).
• Legal considerations- legal factors have been a key factor for each organization when hiring employees. There have been strict reservations of employment opportunities for the physically challenged individuals, minority groups, and other traditionally segregated groups.

Describing the benefits of recruitment methods

The main recruitment methods include:

• Recruitment firms- most companies prefer an external firm to recruit on their behalf because such firms potentially have the kind of employees needed for specific positions (Martin, Whiting, and Jackson 123). This approach is highly reliable when a company seeks to attract a restricted number of applicants.
• Company websites- online services can be used to advertise the vacancies available because they can have wide coverage, particularly when a company is looking for a competent individual. Besides, applicants can be screened online to shortlist those who meet defined standards.
• Job fairs- offer the recruiting team the chance to engage the potential applicants face-to-face and create awareness about the vacancies. This aspect is an appropriate way to learn the expectations of the applicants, and it can be used as a platform to promote the employer’s brand.

Describing the benefits of selection methods

Selection methods include:

• Interviews- the interviews are very beneficial because they provide the opportunity to engage face-to-face. Interviews often involve a panel to increase fairness and eliminate any form of discrimination or favor. The recruiters have an opportunity to learn the candidate’s presentation and communication skills (Shoultz 81). The candidate has an opportunity to evaluate the organization and the job.
• Application forms-are issued online or delivered physically upon completion. Recruiters can advertise online and request the applicant to give details by answering the questions that are tailored to the criteria and skills needed by the employer. This approach gives the recruiter a wide variety of options because most people can readily access the application forms online.
• Testing-is an appropriate way in determining the practical and theoretical skills, critical thinking, and reflective performance of the candidate (Iles 217). The recruiter has the opportunity to determine the ability of the candidate to act under pressure and if s/he meets the provisions of the job.

Explaining the purpose, importance, and benefits of induction

Inductions are very important to both the novice worker and the company because:

• During induction, new workers are oriented to the organization’s culture, the background of the organization, health, and safety, as well as policies of the organization (Martin, Whiting, and Jackson 115).
• The employee can adopt quickly and commence his/her duties within the shortest time possible.
• When the employee can orientate within the shortest time possible, the organization enjoys quality performance in the short term.
• Induction assists the company to manifest appropriate practices to inform the employee of what is expected.

Identifying areas covered by induction and roles of those involved

The induction process includes areas such as:

• Induction involves orientation on the organization’s products and the geographical layout.
• Familiarization of the code of business ethics, among other organization-related activities.
• On-the-job training.

Works Cited

Ali, Muhammad, Isabel Metz, and Carol Kulik. “Retaining a Diverse Workforce: The Impact of Gender-Focused Human Resource Management.” Human Resource Management Journal 25.4 (2015): 580-599. Print.

Iles, Paul. “Talent Balancing: Staffing Your Company for Long-Term Success.” Human Resource Development International 11.2 (2008): 215-218. Print.

Martin, Malcolm, Fiona Whiting, and Tricia Jackson. Human Resource Practice, London: Chartered Institute of Personnel and Development, 2011. Print.

Shoultz, Don. “Training and Development: A Key Battleground for Attracting and Retaining Top Talent.” Journal of Petroleum Technology 65.5 (2013): 80-81. Print.