Retention of talent proposal

You are a member of the people practice team within OcMara Industries. You have been asked to help the team understand labour market trends and the impact the changing labour market has on resourcing decisions.  OcMara is a global organisation based in Japan that produces 2 billion barrels of crude oil per year. The main organisation headquarters are situated in Tokyo, and the company has 15 other offices located in countries such as India, Saudi Arabia, USA, China, Germany and the UK.

To become more competitive in the global energy sector, OcMara is moving into more sustainable energy sources. The organisation is looking to develop more environmentally friendly production processes, and therefore needs to reconsider its resource and talent planning needs.

The main objective of sustainability is to reduce environmental impact in ways that are sustainable for the earth and for the person.

The oil and gas industry is making progress on becoming more sustainable, through the use of new technologies that will cut costs and ultimate bring down their carbon footprint.

OcMara currently have two main people practice objectives:

·       The first is to recruit staff who have the capabilities and skills to help OcMara move into these new areas of business.

·       The second is to retain existing staff who are being poached by competitors.

Preparation for Tasks:

·       Plan your assessment work with your assessor at the start of the assignment. Where appropriate, agree milestones so they can help you monitor your progress.

·       Refer to the indicative content in the unit guide and support your evidence.

·       Pay attention to how your evidence is presented. Remember you are working in the people development team for this task.

·       Ensure that the evidence generated for this assessment remains your own work.

You will also benefit from:

·       Acting on formative feedback from your assessor

·       Reflecting on your own experiences of learning opportunities, training and continuing professional development

·       Taking advantage of the CIPD Factsheets, Reports and Podcasts, and any other online material on these topics.

Task 3 – Retention of talent proposal presentation pack

The final task is a retention of talent proposal presentation pack, and this should be around 1,200 words.

 

OcMara currently have the objective to retain talented staff. The people practices manager has asked you to produce a presentation that can be delivered at the next senior managers meeting. Produce a presentation pack with notes that will include:

·       Introduction, conclusion

·       An explanation of how motivational issues and management style can impact retention and turnover rates within OcMara  (AC3.1) (Examine: Inspect (something) thoroughly in order to determine its nature or condition.)

AC 3.1 – Examine turnover and retention rates and the factors that influence why people choose to leave all remain within business. The task is as follows: an explanation of motivational issues and management styles that can impact the retention and turnover of rates within OcMara. To give context for this question, there was a lot of movement of talent in the energy sector due to an increase in demand.

Therefore, OcMara are facing high levels of turnover, and employees are leaving, and OcMara are thinking of how they can retain their current employees. When looking at assessment criteria 3.1, you need to include an understanding and explanation of what motivational issues look like. And it’s important to understand and explain the reasons why people choose to leave or stay within their business. When thinking about motivation, you’re thinking about it also in two ways, possibly. You’re thinking about it in terms of the positive impacts of motivation, and I would say in this case, the negative way which could make people leave the business. You’re also thinking about different management styles that could impact retention and turnover.

Different management styles could be possibly authorative, visionary and maybe democratic. You’re thinking about how these different management styles would impact retention and turnover as well. In summary, you’re thinking about and explaining two different ways motivational methods can be used in line with retention and turnover and their impact. Also the same with management styles – you’re thinking about one example of a management style that could be used to impact retention and turnover.

Again, this can be linked to a positive or negative way, if you wish. To pull this answer together as well, you finally need to be thinking about one reason of why people stay with the business and one reason why people leave a business.

A comparison of how training and development and workplace characteristics can be used to develop and retain talent for individual and groups of employees (AC3.2).( Compare: Review the subject(s) in detail – looking at similarities and differences.)

 

AC 3.2 – Compare different approaches to developing and retaining talent to an individual or a group level. A comparison of how training and development and work workplace characteristics can be used to develop and retain talent for individuals and groups of employees (AC 3.2).

When looking at AC 3.2, you will have to compare, which means that you will need to examine or look at differences between two or more things. When comparing, you should outline the main similarities of both your examples and then do the same for the differences.

You then need to finally pull your discussion with a short summary.

In the comparison, you need to be focused on training and development, and also workforce characteristics which can be used to retain talent for individuals and also groups of employees. For this question, you are thinking about the different types of training and development methods that could be used within OcMara. The key with training and development is that it needs to be inclusive to allow everyone equal access. You need to explore this in relation to the retention of talent within the business. You also need to review workforce/workplace characteristics which are things like fairness, motivation, transparency, flexibility, and growth, to name a few.

Again, you need to focus on the impact of retention of the methods that you choose to discuss. In summary, you need to tackle this quite specifically in terms of providing one example of training and development methods that can be used to improve retention for individuals. Provide one example of training and development methods that can be used to improve retention for groups of people, and then provide one example of a workforce characteristic that will improve retention.

·       An evaluation of how coaching and mentoring initiatives and performance reviews can be used to build and support different talent pools. (AC3.3).

AC 3.3 – Evaluate approaches that an organisation can take to build and support different talent pools. An evaluation of how coaching and mentoring incentives and performance reviews can be used to build and support different talent pools.

For 3.3, you need to provide an evaluation, which means to judge the importance, a value or amount of something using evidence or information or knowledge of different approaches here.

It’s important that you’re looking at the evaluation of different coaching and mentoring incentives and also performance reviews which can be used to support and build different talent pools.

Examples of this could possibly be leadership and management opportunities. It’s really important when you’re carrying out an evaluation that you look at both sides of the discussion and provide advantages and disadvantages of both coaching and mentoring incentives.

You need to explore how coaching can be used within the organisation briefly. Remember that coaching could be linked with the developing of employees’ individual skills which could be linked to their performance and overall career. When looking at mentoring, you should explain that briefly and look at how mentoring is used to build shared experiences and shared best practice within with employees. You should include one example of coaching and one example of mentoring and ensure that both are evaluated in terms of looking at how to build and support different talent pools.

·       An evaluation of two benefits that diversity can bring to OcMara with regards to building and supporting talent pools (AC3.4).

AC 3.4 – Evaluate the benefits of diversity in building and supporting talent pools.

When looking at 3.4, you need to provide an evaluation. And in summary, an evaluation is to judge the importance, value or amount or something, using evidence or information and using the understanding of different areas.

You need to be linking this to two benefits of diversity and looking at the benefits and limitations of different examples in your answer. This question needs to be thinking about the benefit possibly, for the organisation, and also the disadvantages of your methods in creating diversity.

It’s important to remember that diversity in an organisation is about creating inclusive environments and accepting everyone’s differences, enabling all employees to achieve their full potential and ultimately achieving competitive advantage and reaching the businesses full potential. In summary, you need to provide one example of benefits to the employee and one example to the business as a whole in achieving diversity, and this will fully explore and support building your talent pools in terms of diversity.

·       An explanation of the direct and indirect costs associated with dysfunctional employee turnover (AC3.5).

3.5 – Explain the impact associated with dysfunctional turnover. When looking at the term explain, you need to make something clear to someone else, so the reasons for your decisions are easy to understand. When looking at this, you need to [provide] an explanation of direct and indirect costs associated with dysfunctional employee turnover. It’s important when you are providing your examples that you give one example of a direct cost linked to employee turnover. This could include a range of reasons, including the cost of leaving, replacement costs, and transition costs – there are many more to choose from – and also one example of indirect costs linked to employee turnover.

This could be the loss of production, a reduced performance, or even loss of knowledge. Again, there are many to choose from. You also need to be thinking about the impact on OcMara. For example, the loss of competitive advantage as good talent is leaving.

"Get 15% discount on your first 3 orders with us"
Use the following coupon
FIRST15

Order Now