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I. Introduction


Did you know that for most firms today, success or failure is determined by the ability to


find, attract, and develop some of the most talented individuals in the workforce internationally?


What exactly should these firms do not only to recruit these talented individuals but to also retain


the employees? There is a very competitive job market available, it is hard for employers to


retain their staff when better opportunities are offered. One area that has changed drastically over


the past few years is the way the human resource department carries out its role during the hiring


process. In order to recruit and retain talented people, employers have begun to take some


strategic approach when filing a vacant position.


II. Effective Approach for Human Resources


While human resource offices have always been an important part of every business,


exactly how important they were to the organization and its overall goals were not really


analyzed through until recently. The reason probably is due to a higher turnover rate among


disgruntled and dissatisfied employees. Each time an employee departure, the companies


experience increased workloads which in turn increase stress among those that are picking up the


slack. Then the company must face additional expenses to locate, interview, and hire a new


individual to fill the vacant position. In prior years, the human resource departments would


receive notice of the vacant position, list the position in a local newspaper under classified


advertisements, and give the offer to the most qualified candidate the position. Although this


seems to be a harmless approach, it can end up costing companies more money in the long run






since the employee that was the most qualified might not be the best fit for the position or the




As in any market, demand ebbs and flows in a talent marketplace. The task of putting a


price on talent, however, needs to be quite different from what it is in normal markets. It usually


employs prices to determine where resources are best allocated. The objective of a business,


however is to maximize profits per worker rather than wages per worker. An additional


alternative for pricing talent is common among professional firms, particularly for jobs where


assignments are temporary: per diems set at the estimated opportunity cost of deploying the


talent elsewhere. The advantage of an opportunity-based way of pricing talent is to recognize its


value more than the wages paid to employees (Bryan, L., Joyce, C., & Weiss, L., 2006, 102).


III. Attracting the Right Talent


A company?s reputation is the key to attracting the right talent when positions become


vacant for various reasons. A 21st-century company should put as much effort into developing its


talented employees as its put into recruiting them. Companies that understand the value of


talented people in generating brands, reputations, and other intangibles often spend considerable


time recruiting such workers but drop the hall in providing them with opportunities to develop


and grow. (p.109)


When an established company that has a reputation for being as loyal to their employees


as the employees are to the company lists a vacancy in the local Sunday newspaper the outcome


for talented applicants will increase and have a variety to choose from. This method gives the


company the upper hand to ensure this will be a recruitment rather than just another replacement


for a few months. As global markets become more dynamic and competitive, companies will






need to deploy talent even more flexibly across broader swaths of the organization. Talent is


becoming more critical to corporate performance, specific needs for talent are more


unpredictable, and companies must develop talent more rapidly than ever.


Each person in the human resources office needs to have a similar idea of what


qualifications the perfect candidate would offer as well as determining who will be the best


candidate overall for that particular position. Recruiters are the ones out these on the frontlines of


the workforce, trying to bring talent into organizations. And though there voluminous of


qualified people from a credential standpoint. The ?fit? is where the true challenges lies. Will this


person fit our organization? Recruiting and staffing is often seen by the organization as an easy


thing as a lower level skill. To the contrary, identifying the right match of talent to the


organization and the hiring manager that needs that talent is probably one of the hardest


objectives under the umbrella of talent manger. The best way to find those candidates is to grow


them. It is impossible to just hire them; because going outside the hire means that they had to be


?poached? from elsewhere, which costs money and is not a long-term solution to a recurring


problem (Odom, C. L. 2013, 61-62).


IV. Ways to Retain and Maximize Talent


According the article published by, one of the main reasons big companies


lost their talent is due to their failure to find a project that ignites their passion. The number one


reason is the big company bureaucracy because no one likes rules that make no sense. But, when


top talent is complaining along these lines, it is usually a sign that they did not feel as if they had


a say in these rules. They were simply told to follow along and get with the program. Many


people leave and open their own company where they make the rules themselves with no boss.






You would be amazed at how many companies do not do a very effective job at annual


performance reviews. Or, if they have them, they are rushed through, with a form quickly filled


out and sent it off to human resource department, and back to the real work. Then, the impression


is left is that the employee does not have a career with the company. This happens in many


companies to include government and military units. From military experience, some military


personnel receives an annual performance report from the supervisor, but never really worked


with that person doing the year. That seems unfair to the individual receiving the report because


it is not fair game at that time.


Also, the article gives a secret for most bosses: most employees do not know what they


will be doing in the next five years. Statistics showed that about less than 5% of people could tell


you if they were asked. However, everyone wants to have a discussion with you about their


future. The downside is most bosses never engage with their employees about where they want


to go in their careers even in the top talent pool. If your best people knew what you think their


path going forward with the company, they will be more likely tend to hang around longer. Top


talent has to assume some responsibility as much as the organization. This should never be a oneway street for employees and employers. Smart Organizations are the ones who get out in front


of these top ten things named on the website article, rather than wait for their people


to come to them, asking to implement these top ten items (


V. Lack of Appreciation


Sadly, there are several people I know personally that hate waking up and dealing with


another day of office drama and lack of appreciation. Satisfied employees can have a positive


impact on customers? satisfaction with the firm and its products. Companies must put employees


first because only satisfied employees can most effectively serve customers. Companies that






consider people their most valuable asset will survive and thrive in the 21st century. Unless


service employees are happy, customer satisfaction will be difficult to achieve. Employees who


believe their company values them highly will treat customers with excellent respect (Kundu, S.


C., & Vora, J. A., 2004, 42).


In some companies, management has a tendency to really bring the company down and


increase the turnover to an astonishing number. Sometimes, so much money, time and effort is


being allocated to replace the staff on a continuous basis instead of trying to solve issues within


the company with no job replacement. Some employees find it very comforting to receive words


of encouragement, compliments on the job, accomplishments being achieved, rewards, and


incentives. In contrast, without these items implemented in the company, the employee


sometimes feel like they are just coming to a job with no appreciation.


VI. Conclusion


Talented employees work hard to be very successful when given the right opportunity. It


takes time and effort from the company members or management to enable the talented


employees the ability to use their talent and skills to their full potential. When companies provide


a nurturing and appreciated environment, opportunity will present itself for the employees to


release their best potential on every project. Sometimes, having an open-mind and listening ear


to complaints from your employees will assist the managers in creating the most talented


individuals. Furthermore, the turnover rate would decline and have a higher retention rate.


I have discussed the success or failure of a company when it comes to the most talented


individuals. I briefly talked about the competition and utilizing the talent within your company. I






explained the ability to find and attract talent to your company. I spoke about the ability to retain


and develop talent for any company.





Bryan, L., Joyce, C., & Weiss, L. (2006). Making a market in talent. Mckinsey Quarterly, (2), 98109.


Jackson, E. (2011). Top Ten Reasons Why Large Companies Fail to Keep Their Best Talent,


Retrieved October 1, 2013, from:


Kundu, S. C., & Vora, J. A. (2004). Creating a Talented Workforce for Delivering Service


Quality. Human Resource Planning, 27(2), 40-51.


Odom, C. L. (2013). Hiring the Best Candidate Not the Best Resume. Financial Executive,


29(2), 61-63.


Wells, R. J. (2007). Outstanding Customer Satisfaction: The Key to a Talented Workforce?


Academy Of Management Perspectives, 21(3), 87-89. doi:10.5465/AMP.2007.26421243




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