Strategic Approaches to Recruitment and Retention- Enhancing Organizational Success through Effective HRM
The modern function of human resource management has a tremendous opportunity to contribute to better organizational performance by embracing strategic objectives. The business world is made of competitive markets that require organizations to become more strategic in operations. Notably, this extends to the human resource management functions of recruitment and retention. According to Collings, et al. (2021), strategic human resource management involves the deliberate alignment of human resource strategies to the broader organizational goals as a measure to attain a competitive advantage in the market. Strategic recruitment and retention cover more than filling open vacancies and retaining employees within the workplace. It extends to employees contributing not only to the immediate needs of the organization but to the long-term success of the organization. Understanding this sets the background for this research paper, which seeks to explore the aspect of strategic management by paying attention to strategic recruitment and retention. The paper’s outline entails discussing the strategic recruitment and retention aspects, the benefits of using the approach, and the potential disadvantages of the approach before concluding.
Overview of Strategic Recruitment and Retention
Strategic recruitment and retention refer to a wholesome approach adopted by an organization’s human resource management in acquiring talent and managing talent to fulfill long-term organizational goals instead of short-term objectives. Essentially, it entails a systematic approach to identifying top talents, sourcing for them, recruiting them, and keeping them for a long period, while they perform at a top level. It goes beyond the traditional human resource management practice of considering specific factors in the recruitment process such as affordability. Instead, attention is paid to factors such as future skill requirements, diversity, and organizational culture. Additionally, strategically retaining the talents entails implementing policies that ensure employees are engaged, satisfied, and willing to support organizational goals all the time. As a result, the adverse effects of high turnover rates are avoided.
Major components of strategic recruitment and retention include focused planning by human resource management. The planning entails assessing the need for talent from a perspective of the organizational future goals and the changing market circumstances. The human resource management must forecast future workforce demand, and assess the current skill gap and critical roles to be played by new talents before undertaking the recruitment process. Another component of strategic recruitment and retention entails strategies to target potential talents. Notably, this assists the organization in obtaining individuals with the relevant skills and who fit into the organizational culture. Examples of such include creating relationships with passive candidates, utilizing social media channels, and paying attention to employer branding. From the retention perspective, aspects like career development programs, competitive compensation, and performance management systems are required to achieve strategic human resource management. Also, the organization must consider paying employees incentives that match their expectations to strategically retain them.
Research indicates that strategic recruitment and retention creates a difference in the market and thus, is considered a source of competitive advantages for various organizations. It plays a vital role in achieving the long-term goals of an organization. According to Collins (2021), when human resource practices are aligned well with the broader organization’s strategic goals, an organization can maintain a pipeline of talents that not only meets the current needs of the organization but also forms an important part of tackling the future challenges and opportunities that the organization is likely to face. Attaining a competitive advantage is not an easy feat in the market, and maintaining it is even more complex. However, through strategic recruitment and retention, organizations can manage to achieve the feat. Organizations need to keep an eye on the ever-changing business landscape through strategic recruitment and retention.
Benefits of Strategic Recruitment and Retention
Strategic recruitment and retention have numerous benefits for an organization that adopts the concept. First, it contributes to the organization’s attraction of top talents who, in turn, contribute significantly to the organization’s success. When strategic recruitment and retention are embraced, the talent that is acquired easily aligns with the organization’s cultures, values, and long-term goals. It is worth noting that the organization achieves its overall strategic goals through strategic recruitment and retention, such as becoming a market leader and meeting consumer needs. It also contributes to the profitability of the business whereby strategic recruitment and helps minimize costs incurred during the hiring process. Essentially, this is so because strategic recruitment and retention involves a great deal of streamlined processes.
Another benefit that is worth highlighting relates to employee engagement and satisfaction. Strategic recruitment and retention contribute immensely to job satisfaction among employees and better employee engagement. Through this, other secondary benefits are realized such as reduced attrition rates and improved performance among the workforces. Through the implementation of strategic retention, an organization can offer employees crucial aspects that matter to their career lives. Such include opportunities for career advancement, rewards for excellent performance, and mitigation of risks of losing top talents to competing firms. Additionally, strategic retention promotes the employer’s brand perception. As a result, the reputation of the firm increases in the market. Essentially, this creates a crucial cycle whereby employees play a role in promoting the organization to external markets and in turn attracting other top talents.
Lastly, continuous improvement and adaptability are attained among employees when strategic recruitment and retention practices are embraced. Notably, this is so because strategic human resource practice plays a critical role in enabling employees and the organization to navigate challenges in the marketplace and seize any opportunity that arises effectively. Employees acquired and retained through strategic initiatives possess the capacity to predict the marketplace wave and respond accordingly which ensures that not only the need for talents are met in a timely way but also an arising opportunity is capitalized. Therefore, the advantages of strategic recruitment and retention are seen to an extent beyond acquisition and retention. It has far-reaching implications including achieving organizational resilience and sustaining organizational success in the dynamic business landscape.
Potential Disadvantages of Strategic Recruitment and Retention
Despite the significant benefits identified above, strategic recruitment and retention can have a share of potential drawbacks. One such drawback can be spotted in the cost implications of strategic human resource management practices. According to Ghani et al. (2022), strategic human resource practices are resource-intensive and can crawl into an organization’s finances. Notably, this occurs through the resources often required to develop and implement a strategic plan for recruitment and retention. Some activities involved in the package for retaining top employees include costly incentives. Further, recruitment can be costly when seeking top talents because the process entails seeking even overseas employees who are costly to reach and attract. It is a potential disadvantage that any business should consider keenly before engaging in strategic recruitment and retention.
When conducting strategic recruitment and retention, there is a risk of overlooking diverse talent pools. Notably, this is so because strategic recruitment and retention focuses on obtaining employees that fit into a specific criterion such as skill alignment to organizational long-term objectives. Whereas this is an important aspect, it can downplay other aspects that may be required in a workforce such as homogeneity and inclusivity. Studies have established that diverse teams consistently outperform homogeneous teams, a risk that may be assumed while undertaking strategic recruitment and retention (Amarakoon & Colley, 2023). Therefore, organizations must be keen while pursuing strategic recruitment and retention to achieve a balance between seeking talents that align with organizational long-term goals and workplace diversity.
Conclusion
Strategic recruitment and retention are undeniably crucial components of modern human resource management practice. It offers organizations a pathway to enhance development and achieve overall excellence. From the discussion undertaken in this paper, it is evident that strategic recruitment and retention helps an organization attract and retain top talents with skills that align with its long-term goal. The paper has identified various benefits that an organization can reap from embracing strategic recruitment and retention. Such include cost savings, improved competitiveness, and better reputation. Despite the advantages, there are potential disadvantages that an organization must consider before embracing strategic recruitment and retention. The practice can become costly and in turn, lock out businesses with minimal financial resources from practicing it. Further, if not carefully managed, the practice can fail to achieve its intended goals. Therefore, organizations need to implement strategic recruitment and retention carefully to achieve maximum benefits. Overall, strategic recruitment and retention are crucial components that a typical business should consider to remain competitive in the ever-changing business world.
References
Amarakoon, U., & Colley, L. (2023). Attraction and retention of employees in an Australian regional SME: the importance of place and scale in human resource management. Personnel Review, 52(3), 521-538.
Collins, C. J. (2021). Expanding the resource-based view model of strategic human resource management. The International Journal of Human Resource Management, 32(2), 331- 358.
Collings, D. G., McMackin, J., Nyberg, A. J., & Wright, P. M. (2021). Strategic human resource
management and COVID‐19: Emerging challenges and research opportunities. Journal of Management Studies, 58(5), 1378.
Ghani, B., Zada, M., Memon, K. R., Ullah, R., Khattak, A., Han, H., … & Araya-Castillo, L. (2022). Challenges and strategies for employee retention in the hospitality industry: A review. Sustainability, 14(5), 2885.
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Question 
Research Paper #1: Strategic Recruitment and Retention
The focus of this paper is how organizations should be using a strategic approach to both recruitment and retention. The content of your paper should focus on these aspects of HRM. Provide an introduction, a summary of the topic, a discussion of the benefits and potential disadvantages of the approach, and a clear conclusion.
Strategic Approaches to Recruitment and Retention- Enhancing Organizational Success through Effective HRM
Use proper APA 7th edition formatting, such as Times New Roman, 12-point font, cover page, headers, and a reference page. The paper should be 5-7 pages in length and include at least two scholarly sources.