Global Resourcing And Talent Management Assignment Sample

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Introduction

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Each organization focuses towards acquiring and retaining talented employees within their firm. Global human resource management is one such model that aims at acquiring employees form overseas level. This approach helps in providing opportunity for company to attract employees which assists in improving overall efficiency of the firm. This report is based on determining the impact of globalisation on global talent management (GTM) and its role in development of Morrison. It is one of the most popular retaill companies in UK that aim at providing variety of goods that includes food and drink product. In 2023, the company is the 5th largest retailer company in UK and has a market share of 8.7% (Market share of Morrison, 2023). The report will also include information regarding impact of global talent management on overall performance of organisation. It will also cover various theories and models for effective rewards and performance management. Impact of GTM on the performance management will be discussed through this report. This report will also includes evaluating internal and external environment and define how this impact on the rewards management of firm. Various measures and modes for measuring performance of employees will also be discussed in the report.

TASK 1

Enclosed in power-point presentation.

TASK 2

1. Impact of diversity and globalization in Global talent management:

Globalization refers to unification of culture, economics, industries and market of different countries. This process is aiming at promoting trade and communication within various countries that assists in improving and developing cooperation within company. Diversity refers to the difference in ideas belief, attitude, culture and perspective of individual living in different country. This both factors are having huge impact on effective GTM which are as follows:

• Globalization helps company in recruiting employees from all over the world results in removing obstacles of limited areas (Impact of globalization on Global talent management, 2023). This allows company to attract people across globe that further helps in providing better understanding of particular issue and assist in getting various solutions to overcome it.
• Diversity is very crucial in the process of GTM as if this approach is not available then company will end up recruiting employees of same culture. This leads to decrease in efficiency and opportunity for firm for innovation. Diversity helps in employing workers belonging to different class, religion, gender and beliefs that assist in effective working of company. This approach is making it compulsory for global professional to select employees from diverse social background making GTM more effective.
• Competition in industry has been increased because of globalization resulting in pressurize Global recruiter to emphasis towards adopting competitive practices. As competition increases company should determine measures which they need to undertake for creating competitive edge (Collings, Mellahi and Cascio, 2019). GTM aim at providing training and development session to employees that focuses for improving the quality and skills of employees resulting in maintaining stability in industry.
• Innovation and creativity has been promoted due to globalisation that results in development of new technology and process to accomplish particular task. Updating technology creates opportunity for skill worker to apply for job in new country resulting in effective Global talent management.
• Importance of culture integration in GTM has been provided by Globalization and diversity. Globalization results in attracting employees from different country and if social and cultural needs are not fulfilled than it is difficult for firm to retain employees. This creates obligation for GTM to focus towards managing diversity within organisation that assist in long term growth and development of firm.

2. Role of Global talent management in achieving organizational objective:

Organization objective and goals are effectively achieved by using GTM in their operation; Role of global talent management can be effectively understood through following points:

• Hiring skilled employed: Each firm target towards increasing the efficiency and effectiveness in the working of company. GTM aim at attracting and acquiring the most talented employees across globe that heals in increases in specialization in completion of task leading to achieving the organization objectives.
• Enhancing knowledge level: There is various issues that company face in while achieving its objective. Acquiring employees across world helps in getting different perspective of same issue. This also helps in providing various measures through which an organization could solve particular obstacle resulting into effectually accomplishment of goals.
• Strategic planning: GTM aims at promoting strategies planning regarding attracting, acquiring and developing employees. This strategic approach is linked with aligning planning with organizational objective that assist in effectively achieving objective of company.
• Improving satisfaction of employees: GTM also target towards initiating various sessions that assist in developing skills and competencies within employees (Fatima, Junchao and Khan, 2020). This helps in enhancing satisfaction and motivation level among employee’s results in effectively achieving organizational objectives and goals.

3. Impact of GTM on the performance of company: 

Performance of organisation is directly linked with the efficiency of employees working in the company. GTM aims at managing employees effectively that result in improving their performances. Impact of GTM on overall performance of organisation can be understood through following points:

• Adequate training and development session: GTM aim at providing training and development session to employees that assist in improving their competency. This helps in improving the efficiency with which employees are currently working resulting in improving overall performance of organisation.
• Integrating Culture: Global talent management is concentrating towards maintaining culture diversification within company. This includes providing measures by which beliefs, attitude and perspective of different individual could be valued (Han et al, 2019). This assist in creating positive culture within organization leading to improving satisfaction level of worker resulting in overall development of company.
• Recruiting skilled employees: This approach aims at using strategic method and process to recruit and retain highly talented employees within organization. Company need not to incur additional cost for developing new skills reducing in reducing overall cost of organisational and improving its profitability.
• Promote employees engagement: Global talent management aims at determining the needs of employees and fulfilling it by conducting various training and development session. This assists in boosting morale of employees and result in increasing their involvements in the policies and operation of organisation.
• Retention of employees: It has been determined that GTM helps in fulfilling needs and requirement of employees after determining their personal goals (Hauff, 2021). This help in enhancing their satisfaction level results in reducing employee’s turnover rate. As turnover reduce, efficiency of employees working in firm increases leading to achieving organisational gaols.

4. Define theories and models of performance and reward management:

Performance and rewards management provides various models that help company in determining the performance of employees and aim at providing suitable rewards to motivate them. This theories and models are aim at evaluating performance of employees over period of time and determine the changes that have been occurred.

Goal setting theory: This is the theory that is aiming towards setting goals and objective of company at the beginning of undertaking any task. This helps in providing a clear direction regarding the objectives which they need to achieve and helps in evaluating performance of employees on such basis. This theory is most effective as employees are well aware of objective that their manager expects them to achieve. This helps in clearly in mind regarding their action and helps in taking effective decision (Theories of performance management, 2023). This theory only focuses towards clarify objective but no information has been provided regarding action by which such gaols could be achieved. This creates difficulty for employee in decide on most effective and optimum solution that assist in effectively achieving overall objective.

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360 degree feedback: On the basis of this theory, emphasis has been provided towards getting feedback of employees’ performance from various sources. This theory is based on assumption that one manager could not effectively evaluate performance of employees rather all other individual feedback should be taken. This assists in getting better knowledge regarding performance of employees by integrating feedback of all individual. 360 degree feedback theory is more adequate as it help in creating open culture within organisation as opinion of each individual has been valued within firm. Sometime feedback provided by employees may be because of personal crisis or involve biasness leading to ineffective performance and rewards management.

Global Resourcing And Talent Management Assignment Sample

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Expectancy theory: Employee’s performance, belief and attitude towards work are highly depending on the positive benefits associated with the task completion. This theory pays emphasis towards providing various measures because of which employees perform better than other. There are mainly three factors that impact the working of individual which includes Expectancy, instrumentality and the rewards associate with activities. An individual always focuses towards establishing three relationships before commencing any task. This includes Reward- performance relationship, effort- performance relationship and personal goals-rewards relationship. This theory is the best suitable in the current times as rewards are the most effective measure to improve the performance of individual (Hussain et al, 2019). This also focuses on fulfilling personal objective of employees with organizational objective that results in enhancing motivational level. There is limitation in the successful implementation of theory as rewards is not generally decide on performance rather it also includes position, experience and education of employees.

5. Relationship between performances management and global talent management.

Effectiveness and efficiency of global talent management will be determined by implementing performances management system. GTM helps in determining the needs and requirement of employees and focus towards hiring employee’s that can effectively achieve organizational objectives. To acquire talent and skilled employees across world firm should focus towards establishing an effective performance management system (Lopez-Cabrales and Valle-Cabrera, 2020). This involves determining the gaols, establishes standards, evaluating their activities and provides suitable rewards based on performances. Global talent management focuses on attracting, selecting, providing training & development session and promoting according to their productivity level. Performance management is matrix that helps in evaluating performance of employees on the basis of which promotion and training session are conducted. Retention of worker within firm is highly influenced by performance management process used in the organisation. This assists in identifying personal goals of individual and focus towards fluffing their requirement by establishing training and development session.

6. Reasons being performance management operating as form of rewards:

Performance management refer to determining the changes and deviation in the activities of employees form the standards that has been set. Rewards for employees are decided on the basis of results that have been operated in the performance management process. Performance management is also a form of rewards as this includes setting up of objective and gaols that an individual needs to achieve as well as monitoring its performance and provides appropriate feedback based on his actions (Manzoor, Wei and Asif, 2021). Positive feedback helps in enhancing satisfaction level of employees and eventually results in improving overall performance of individual. Negative feedback assists in determine the deviation and support in providing measures that an employ need to take to improve its performances. This will helps in improving efficiency in completion of task and eventually results in achieving organizational objectives.

Victor Vroom theory has provided a better link between the performance and rewards management. This theory indicates that an employee’s performance is improved if outcomes are linked with adequate rewards system. Performance management process also include determined most appropriate rewards strategies according to the performance of employees that helps in enhancing satisfaction and motivation level of individual.

7. Various internal and external factors that influence the performance and rewards management of organization:

There are various types of factors that impact the performance and rewards management within the firm. Internal factors involve various technologies and individual that is impacting effective, management. External environment involve the economic, political and legal factors that are forming the performance and rewards management of company. Impact of these factors is as follows;

Internal factors:

• Culture: If the company is focusing on motivating employees in a positive manager than financial and non financial incentives will be provided. This aims at providing extra bonuses; recognition and benefits that aim at improving performances (NAWANGSARI, SISWANTI and SOELTON, 2023). Whereas, managerial behaviour that include punishment to motivate employees will use different type of rewards management system.
• Financial feasibility of organization: This is the crucial factor that impacts the rewards system within organisation. Rewards management involve the funds that firm can used for provide various financial and non financial benefits to employees. Company needs to evaluate their income statement and determine the amount of profits they can easily distribute for motivating employees. If the firm is having high and regular income then it can provide more of financial benefits where as firm with low profits should not indulge in such management system.
• Skills and competencies: The reward and performance management will also be decided on the basis of skills and capability of employees. This includes evaluating the performance of employees on various parameters that include current skulks and future potential (Ngwa et al, 2019). This helps in deciding ability of employees in achieving organizational gaols and its significance within firm.
• Capability of Manager: Ability and efficiency of HR manager should be evaluated before setting up performance and reward management process. This includes determine techniques which manager is using for coming to particular solution. If manager is unable to implement adequate strategy then outcome obtained from performance management will be unrealistic results in decreasing efficiency of process.

External factors:

• Labour market policies: Strategies and policies of performance and rewards management are impacted by rules and regulation of labour market. If supply of skilled employees is less in the market than company need to provide high wages to retain employees. In some cases if the supply is high but them also company need to pay high due to minimum wage rate in policy.
• Economic Condition: While deciding on the reward and performance management strategy firm should evaluating current economic condition. This help in deciding on the rewards system that help in creating competitive edge in market which support in retain employees within firm. If the economy is booming companies could provide higher rewards as firm is able to more profits. Changes in unemployment rate, inflation, interest rate and tax rate are major economic factors that impact the choices of rewards policies for employees.
• Updating in technology: As the changes in technology arises company need to provide high rewards system that assists in attracting highly skilled employees which cam correctly operate particular techniques (Noorazem, Md Sabri and Mat Nazir, 2021). To provide effective results from performance management, firm should focuses towards implementing latest technology that helps in collecting accurate data and efficiently evaluating them to determine actual results.

8. Relationship between employee’s development and performance and rewards management:

Performance and rewards management within business entity helps in improving the learning and development of employees. This management process aims at providing the regular feedback on the effectiveness and efficiency of employees. This assists worker in determining skills and competences which they need to acquire for improving their overall performances. Once an individual is aware of his strength and weakness, concentration has been paid towards overcome weakness by learning new skills. This helps in enhancing knowledge of individual leading to overall developmental of employees (Paais and Pattiruhu, 2020). Rewards management aim at proving appropriate rewards and incentive based on the performance of employees. This system helps employees in focusing towards developing their skills and find measures by which their take could be achieve efficient. Learning & knowledge level of employees will enhance as they concentrated towards continues research and gaining new skills for improving their efficiency.

Performance management is linked with determining employees that should be retaining within firm. This creates fear of job insecurity among existing employees as not improving in productivity level may results in termination of job. This pressurize employees’ to focus towards learn new concept and gain knowledge that results in improving overall performance of individual. Rewards management aims at providing financial and non finical incentive that assist in improving motivational level of individual results in improving overall performance of company. Training and development session are also conducted as a form, of reward system that aim at improving motivation level of employees. Performance management aims at setting clear objective and expectation for employees who assist them in identifying the ways and measures through which these goals could be achieved (Plaček et al, 2021). Determination of clear objective encourages employees to enhance their capability and increases commitment of employees towards work leading to overall development of workers. Management of company focus towards providing appropriate opportunity to each individual based on their needs. These assist employees in gaining expertise in fulfilling their needs results in overall development of employees.

9. Design and process of reward and performance management within Morrison:

Morrison’s work with more than 175000 employees within its firm which make it mandatory for company to provided effective rewards system that helps in improving performance of employees results in overall growth of firm. To effectively carrying out the process of rewards and performance management, Morrison has undertaken various measures which are as follows:

Planning: Under this, company is planning towards Setting SMART goals and objective for employees that assist in providing direction for employing according to which they need to work (Whysall, Owtram and Brittain, 2019). Objective and goals of employees are set after determine employees capability that helps in making goals reliable for them.

Monitoring: This step involves monitoring and evaluating performance of employees that assists in determining efficiency of each employee. Morrison focuses towards self evaluation and 360 degree feedback method for measuring and evaluating performance of employees. Manager in company keep on taking regular feedback from employee, colleagues and their supervisor to determine effectiveness and efficiency in completing task.

Developing: It is very crucial for each organisation to provide various opportunities to employees that assists in improving their skills and competencies. Morrison is focus towards conducting training session to new employees that involve providing detail regarding rules and regulation of company. This also including making worker related to operation of company and determining their roles and duties in achieving organizational goals. Company has also concentrated towards the investing on online training session for increasing skills and competencies of employees (Wilkinson et al, 2020). For improving communication process between factory management and supplier company has conducted Reassurance network of virtual training.

Rating: Management in firm is focusing towards determine qualified and crucial employees within its operation that impact on performance of company. Rating system has been used by Morrison that involve provided rate to employees according to their skirl which helps in determining their significance in the management. This support company in forming rewards strategies that assist in retain employees within firm.

Rewarding: Last step in management process invoke retaining talented employees within firm by providing effective rewards for employs. Rewards system of Morrison is focusing towards motivating employees to improve their performance that results in enhancing their satisfaction level. Company believes on providing rereads on the basis of performance which will help in motivating employees to improve their performances. Flexible working hours, discount on purchasing company’s product, colleagues card, life assurance, healthcare plan are various benefits that has been provided to employees. Morrison also pays emphasis on conducting annual events and program that involve recognising best employees and rewarding them on basis of performances. This all rewards system, together help in retaining employees within firm leading to improving overall performance of organisation.

10. Methods for measuring employees and firm performances

Success of organization will be determined by measuring the performance of employees. There are various measures that help in adequately identifying changes in performance of worker and assist in forming strategy to improve performances. Methods used for measuring performance of employees and organisation are as follows:

Benchmarking techniques: Under this method, goals and objective are clearly defined for employees that they need to achieve. Employee’s actions should be linked with objective that helps in effectively completion of task. Objectives are set with time frame which provides employees with suitable time in which they need to accomplish their activies. Actual performance of employee’s is compared with standards and deviations in results are identified. This is most simple of evaluating employee’s performance and provides accurate information.

Profitability evaluation method: For determining the performance and effectiveness of employees with organisation, Profitability evaluation should be conducted. This method is related to determining the changes in profit and sales of company that helps in providing clear information regarding organisational operation. Profits of current year should be compared with previous 5 year and changes in return will be identified (Method for measuring employee's performance, 2021). This help in company in determine the actual increases in return of company assist in evaluating performance of employees. Time values of money concept should be used while comparing profits to get actual position of firm.

360 degree performance review: This method which is related to getting feedback regarding employer’s performance from various individual. This method is based on believes that to measures employees performance information should be collected from all employees, stakeholders, supervisions and subordinates which help in getting better insight into individual performances. This review method assists in determining the efficiency, productivity and etiquette of employees at work place.

Ranking method: This is the method in which management of firm form various parameters and the performance of employees are measured based on such variables. Ranks have been provided by management according to the level of productive of each employee. Results obtained from all variable are integrated that helps in determining the actual performance of workers. This assists company in adequately determining efficiency of employees in achieving objectives. However, if the method has not carrying out effectively than it may results in the creating a situation of destructive completion among employees leading to negatively impacting performance of employees and firm.

Human capital ROI method: This is the method that helps in determining employees and organization performances (Yuan et al, 2020). It has been related with determining aspects of HRM and evaluates employee's performances based on that. This method start with determining total cost that organization is incurring for improving productivity level of employees which involve cost regarding training, compensation etc. Cost of company is compared with performance of organization to determine efficiency of incurring such expenses. Increasing in productivity, reducing wastage, improving efficiency are various aspects which are evaluated to determine the organizational performances. This approach is based on collecting quantitative information and based on which actual performance is determined.

CONCLUSION

It has been concluded from report that global talent management plays a significant role in improving the organizational goals and objective. Globalization and diversity has an effective impact on the working of GTM. This assists company in attracting and retaining employees from different culture and countries. It helps in getting different perspective for solving particular issue results in improving overall efficiency of firm. It has been identified that organizational objective are adequately achieved through GTM as it help enhancing the knowledge level of employees results in efficiently achieving goals of company. Expectancy theories, goal setting and 360 degree feedback are various theories that assist company in establishing an effective rewards system in company. Accuracy and effectives of GTM can be evaluated by implementing performance management strategies. It has been identified that performance management is treated as rewards as employee’s incentives are decided based on this process. Cultural, economic prosperity, capabilities, economic condition and labour market conditions are various factors that impact effective performance and rewards management. Morrison follows a systematic management process which includes providing training and development session, various incentives that assists in effective maintaining employees within firm.

REFERENCES

Books and Journals

• Collings, D.G., Mellahi, K. and Cascio, W.F., 2019. Global talent management and performance in multinational enterprises: A multilevel perspective. Journal of management, 45(2), pp.540-566.
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• Hauff, S., 2021. Analytical strategies in HRM systems research: a comparative analysis and some recommendations. The International Journal of Human Resource Management, 32(9), pp.1923-1952.
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