Human Resource Practices – Comparison Charts

Human Resource Practices – Comparison Charts

Abstract

Business practices that are practiced globally and significantly affect employee performance include performance management, talent management, and employee engagement. Each of these practices benefits organizations in more ways than just improving productivity. Legal aspects that guide employers also bind them. The additional benefits of these practices include a commitment of employees, client and job satisfaction, better reputation, new competitive advantages, increased revenue, creativity, innovation, and employee motivation. However, these benefits are realized when companies are proactive, consistent, flexible, and committed to their practices. The text highlights the weaknesses, threats, and opportunities that each practice presents to organizations.

Human Resource Practices

Figure 1: Global Business Practices

Performance Management

Performance management is defined as a system that is used to evaluate each employee’s level of performance. The business practice involves numerous steps that align the performance of the entire workforce to the company’s goals. The ongoing activity assesses the performance of both individuals and teams for a greater return in terms of productivity. Performance management is connected to strategic planning, succession planning, compensation, individual and team development, and technology systems that govern human resources (Ulle, Patil, & Varma, 2018). Performance management is important for the organizations’ performance because it enables managers to create an environment that supports growth through better performance. However, performance management only works effectively when the management carries out appraisals, which enable the provision of feedback. The business practice solves common challenges that organizations face, including engaging employees, talent retention, and developing leaders from the inside. At least 94% of staff prefer that managers give feedback in real-time as well as opportunities (SHRM, 2021).

Regular feedback sessions are recommended as employees adjust to required changes and goals and participate in finding solutions. Failure to conduct such regular feedback sessions eliminates numerous opportunities for growth and improvement. Thus, performance management is important in developing clear goals, expectations, and definitions. It also improves the employees’ level of engagement and causes managers to improve their coaching and leadership skills. The improved performance that results from the entire process leads to better productivity. Performance appraisal systems are a legal requirement for federal agencies. Private entities set up similar systems out of choice upon realizing performance management’s benefits on the company’s workforce. However, all organizations should ensure compliance with the regulations that govern equal employment (SHRM, 2021).

Figure 2: SWOT Analysis

Strengths Enables company’s compliance with laws/regulations Creates a motivated workforce Engages employees Creates opportunities for constant improvement through feedback Aligns strategic goals with employees’ abilities and skills Improves leadership and coaching skills	Opportunities Customizing the software to fit the company’s needs Creating a culture that supports feedback Engaging employees in the entire process Taking cultural diversity into consideration
Weaknesses Poor communication regarding expectations and goals Presence of an entitlement mentality among some employees Lack of support or active participation from management	Threats Perception that the process is time-consuming and extremely involving for managers Lack of consistency among managers Bureaucracy Lack of an enabling organizational culture

Talent Management

Talent management is “the systematic attraction, identification, development, engagement, retention, and deployment of those individuals who are of particular value to an organization, either in view of their ‘high potential’ for the future or because they are fulfilling business/operation-critical roles” (Baqutayan, 2014, p. 2291). Simply put, it is the organization’s effort to manage its talent flow. Today, organizations have realized people’s role in enhancing competitive advantage. Therefore, organizations are directing considerable effort towards attracting and retaining the right candidates. Talent management benefits the organization by equipping employees with valuable skills and knowledge and increasing the workforce’s satisfaction.

Talent management facilitates the organization of staff, application of technology, resource allocation, and measurement of results (Hejase, Hejase, & Mikdashi, 2016). Numerous studies have established the connection between talent management and improved business performance. From a psychological perspective, employees in the appropriate position produce great results. In the competitive market, talent management drives the organization’s success. Organizations whose talent management practices align with the company’s strategies succeed at a 72% rate in various projects. Lack of alignment causes a significant drop in the success rate to 58% (Hejase, Hejase, & Mikdashi, 2016). Such a difference can translate into varying performances of different entities, which depend on the employees’ productivity. Talent management involves psychological contracts, talent culture, and career paths.

However, observing the various regulations governing the workplace is critical. Attracting the right talent and nurturing these should not violate the Civil Rights Act of 1964, the Pregnancy Discrimination Act of 1978, the Americans with Disabilities Act of 1990, and the Age Discrimination in Employment Act of 1967. All these laws seek to offer equal opportunities to diverse individuals.

Figure 3: SWOT Analysis

Strengths Motivates Employees Increases productivity Encourages innovation and creativity Increases the skills and knowledge of employees Facilitates the achievement of goals	Opportunities Creating flexible policies that govern work Provide training and development opportunities Increase engagement of employees to realize their needs Find ways of retaining knowledge (Ott & Michailova, 2018)
Weaknesses Insufficient resources, which demand optimization Failure to measure the impact of talent management efforts on the business Lack of flexibility, making it difficult to adapt to new situations (Khatri, Shikha, Kapil, & Santosh, 2010)	Threats Ease of mobility for staff at a global level poses a critical shortage of skills Dissatisfaction of repatriates when they return from international assignments Loss of knowledge of repatriates (Khatri, Shikha, Kapil, & Santosh, 2010) Legal requirements

Employee Engagement

Employee engagement is related to the level of staff’s connection and commitment to an organization. Today, this business practice is critical to the success of entities. High engagement levels lead to talent retention, create customer loyalty, improve the company’s performance, increase shareholder value, and lead to higher productivity. Most global executives reiterate the importance of enhancing the staff’s engagement. Besides improving clients’ loyalty, retention of staff, and productivity, it also increases the satisfaction of both staff and clients, creates a better reputation for entities, and adds to the list of competitive advantages. Gallup studies established that less than 50% of American employees reported engagement within their jobs. At least 52% of the workforce reported that they just ‘show up’ at work, while 17% termed themselves as ‘actively disengaged’ (SHRM, 2021). The effect of engagement on the productivity of employees is affected by different factors, including social cohesion, information sharing, communication, support from managers and supervisors, common objectives, and trust.

When employees know they are valued, their ideas heard, and respected, their commitment to an entity increases. Engaging employees increases their productivity and saves companies financial resources that could be lost in safety costs and other similar contingencies. Retention of employees also saves the company money that would be spent on recruitment due to high turnover. Engaged employees demonstrate characteristics such as optimism, enthusiasm, team orientation, solution orientation, selflessness, desire to learn, accountability, giving credit, and exceeding expectations. Disengaged employees tend to be pessimistic, selfish, absent frequently, have a negative attitude, are focused on monetary aspects, lack accountability, and are egocentric (SHRM, 2021). Organizations should make a conscious decision to engage employees for positive effects.

Figure 3: SWOT Analysis

Strengths Motivates employees Increases job and client satisfaction Leads to talent retention Leads to high commitment Promotes better performance Increases revenue and reduces unnecessary spending Creates a competitive advantage	Opportunities Creates a chance to improve communication Leads to better information-sharing Attracts the right talent Alignment of goals and strategy Creates a conducive working environment
Weaknesses Complexity of organizations that may incapacitate the process Slow response from employees Lack of platforms for employees to share issues Poor communication mechanisms	Threats High turnover of staff Inefficient strategies Lack of work-life balance (Suyanti & Absah, 2019).

References

Baqutayan, S. M. (2014). Is Talent Management Important? An Overview of Talent Management and the Way to Optimize Employee Performance. Mediterranean Journal of Social Sciences, 5(23), 2290-2295.

Hejase, H. J., Hejase, A. J., & Mikdashi, G. (2016). Talent Management Challenges: An Exploratory Assessment from Lebanon. International Journal of Business Management and Economic Research, 7(1), 504-520.

Khatri, P., Shikha, G., Kapil, G., & Santosh, C. (2010). Talent Management in HR. Journal of Management and Strategy, 1(1), 39-46.

Ott, D. L., & Michailova, S. (2018). Talent Management Challenges and Possible Solutions for New Zealand Businesses. New Zealand Journal of Human Resources Management, 18(2).

SHRM. (2021). Developing and Sustaining Employee Engagement. Retrieved from https://www.shrm.org/resourcesandtools/tools-and-samples/toolkits/pages/sustainingemployeeengagement.aspx

SHRM. (2021). Managing Employee Performance. Retrieved from https://www.shrm.org/resourcesandtools/tools-and-samples/toolkits/pages/managingemployeeperformance.aspx

Suyanti, H. N., & Absah, Y. (2019). Effective Employee Engagement Using SWOT Analysis. International Conference of Organizational Innovation (ICOI 2019) (pp. 336-340). Atlantis Press.

Ulle, R. S., Patil, K., & Varma, A. J. (2018). Impact of Performance Management System on Employee Job Performance, Based on the Perception of the Employees. Journal of Emerging Technologies and Innovative Research, 5(8), 792-798.

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Human Resource Practices – Comparison Charts

Comparison charts are graphic visual representations of information, knowledge, or data to present information concisely and clearly. The intent of graphics is to assist the audience with understanding the data presented.