One of the roles of the HRM is to create talent or ensure greater human capital, so what are they doing to help the firm succeed? A firm’s success depends on recruitment and keeping current employees. Anticipating changes and job monitoring will lead to better talent management decisions. Different kinds of workplace cultures are needed to keep talent that is needed for the implementation of new technology and to keep the competitive advantage in the market. HR needs to come up with better ways to keep their human capital. Nontraditional types of HR practices will be help retain talent. Retirement aged employees can be mentors to younger employees to pass on knowledge and skills. Changes to the work week, rewards, incentives, and benefits will help attract talent. One survey according to Lockwood, “43% of companies see retention of key talent as the issue that will have the most impact on their business” (Lockwood, 2006). HRM will have to devise ways to keep highly talented human capital to help keep their business growing and have sustainability in the market. Providing value by promoting the company’s brand, supporting the organizational goals, and giving employees opportunities for personal development and career advancements are other ways to retain talent. When firms can utilize both talent management along with their organization strategy; they can measure the increases in the workforce …show more content…
Some firms make a plan then no one ever sees it. The failure to communicate may mean that the plan is in need of a change. How can the firm succeed when the communication is terrible? The strategic HR plan has to be communicated to the entire firm and its employees. HRM needs to be able to make changes to their policies to support the firm’s strategic plan at any time. New changes or objectives must be communicated in a way that every employee can understand. If automated machinery is projected to be purchased then HRM needs to know how these changes will impact current employees or the need of new employees. HRMs will need to know how employees can be supported through decisions made by senior management. They also need to make sure all laws, and regulations are being followed due to any