1.0 INTRODUCTION
Family firms play a significant role in national economies worldwide, and strongly contribute to their growth and stability according Klein, 2000 cited by López-Fernández, M. et al., 2016 where about 70 to 80 per cent of all enterprises in Europe. Family firms has facing challenges in innovation as today’s world of work has undergone changes in the nature of work, as well as the emergence of new forms of work, which result from innovation, the development of new knowledge , increase competition, and other factors. The work life is characterised by complexity, unpredictability, and insecurity. This is proven with the observation of the growth of Yorklab to various strategic business units perspective, where some specialities …show more content…
The report will be initiated with first defining human resource development (abbreviated as “HRD”) in talent management and planning (abbreviated as ‘HRP”) for peripheral workforce strategies which are highly relative toward the best fit model and concept of strategies for Yorklab’s human resources practices. Following by the exploration on possible critical success factors to drive the people towards improvements in the issue they are facing and acquired higher efficiency in their work performance while establishing a competitive edge.
2.0 HUMAN RESOURCE DEVELOPMENT - TALENT MANAGEMENT
Talent management (abbreviated as “TM”) has been targeted as one of the HRD conceptual framework to improve the effectiveness of HRD practices (Nilsson and Ellstrom, 2012). According to 17th Annual Global CEO Survey, which states that majority of CEOs (93 per cent) are recognize the need to make a change, or are already changing their strategy for attracting and retaining talent.
In review of Lewis and Heckman (2006), cited by Nilsson and Ellstrom (2012) statement, TM has been identified into three types of conceptualisations as per figure 1 …show more content…
They take the necessary measures to ensure that key personnel are safe and will not leave because of low morale, thereby preventing the defection of a domino effect.
2.3 HRD practices in Talent Development strategy
By clarifying business needs and identify talent pools and target, an appropriate HRD practices is the next critical success factors in organization to develop, create succession plan and retain talent. Constantly new and changing demands in the world of work create problems for HRD to identify and develop relevant talent. It is increasingly difficult to assess the competence of individuals; and developing and training individuals to secure a long-term competence supply is complex in a knowledge-intensive labour market.
There has been a transition from a traditionally task-based approach to a competence-based approach, which described as a focus on individuals and their competence has prioritize rather than focus on a job. A central focus on a long-term dynamic organizational fit rather than a short-term task-based match. HRD shall focus on personal characteristic and behavioural traits rather than technical skills only (Clardy,
Family firms play a significant role in national economies worldwide, and strongly contribute to their growth and stability according Klein, 2000 cited by López-Fernández, M. et al., 2016 where about 70 to 80 per cent of all enterprises in Europe. Family firms has facing challenges in innovation as today’s world of work has undergone changes in the nature of work, as well as the emergence of new forms of work, which result from innovation, the development of new knowledge , increase competition, and other factors. The work life is characterised by complexity, unpredictability, and insecurity. This is proven with the observation of the growth of Yorklab to various strategic business units perspective, where some specialities …show more content…
The report will be initiated with first defining human resource development (abbreviated as “HRD”) in talent management and planning (abbreviated as ‘HRP”) for peripheral workforce strategies which are highly relative toward the best fit model and concept of strategies for Yorklab’s human resources practices. Following by the exploration on possible critical success factors to drive the people towards improvements in the issue they are facing and acquired higher efficiency in their work performance while establishing a competitive edge.
2.0 HUMAN RESOURCE DEVELOPMENT - TALENT MANAGEMENT
Talent management (abbreviated as “TM”) has been targeted as one of the HRD conceptual framework to improve the effectiveness of HRD practices (Nilsson and Ellstrom, 2012). According to 17th Annual Global CEO Survey, which states that majority of CEOs (93 per cent) are recognize the need to make a change, or are already changing their strategy for attracting and retaining talent.
In review of Lewis and Heckman (2006), cited by Nilsson and Ellstrom (2012) statement, TM has been identified into three types of conceptualisations as per figure 1 …show more content…
They take the necessary measures to ensure that key personnel are safe and will not leave because of low morale, thereby preventing the defection of a domino effect.
2.3 HRD practices in Talent Development strategy
By clarifying business needs and identify talent pools and target, an appropriate HRD practices is the next critical success factors in organization to develop, create succession plan and retain talent. Constantly new and changing demands in the world of work create problems for HRD to identify and develop relevant talent. It is increasingly difficult to assess the competence of individuals; and developing and training individuals to secure a long-term competence supply is complex in a knowledge-intensive labour market.
There has been a transition from a traditionally task-based approach to a competence-based approach, which described as a focus on individuals and their competence has prioritize rather than focus on a job. A central focus on a long-term dynamic organizational fit rather than a short-term task-based match. HRD shall focus on personal characteristic and behavioural traits rather than technical skills only (Clardy,