2. Table Of
Content
1. Problem Definition
2. Introduction
• Risk Log
• Cash Flow
• Gannt
2. Consequences of Project not going
ahead
3. Benefits of addressing the problem
Conclusion
Reflective Learning Notes
References:
Appendices:
3. PROJECT TITLE
Development Of A Talent Management System
Project Definition • Human Resource management team of a company faces the maximum issues
regarding the talent management of an organization.
• A higher employee turnover rate can affect an organization in many ways.
• Employers need to give opportunities to the employees regarding their future
development and opportunities to upskill themselves by providing training and
development and that will help the company to retain top talents in the
organization.
What are the consequences of this project • The project of incorporating the “TMS” in a company can be a crucial stage in
managing the workforce, enhancing engagement and performance of employees
and thus ensuring organizational success. On the other hand, not taking the project
can have a significant impact on the overall success and sustainability of the
company.
What are the benefits of addressing the problem? • Addressing the problem faced by the HR managers of the organizations during and
after the pandemic and working in its solutions through the development of talent
management projects can be highly beneficial.
• Absenteeism and ineffective work: Organizations can boost their general
performance and productivity levels by tackling absenteeism and ineffective work.
Appendices Risk Matrix
Cash Flow
Gantt Schedule
4. Introduction
•HR managers to supervise and
track
•Talent handling projects has
been illustrated
•The consequences of not
adapting to this system
5. Problem
• A higher employee turnover rate
can affect an organization in many
ways.
• Human Resource management
team of a company faces the
maximum issues regarding the
talent management of an
organization.
6. Risk Log
Risk Id Risks Type Risk description Cause Effects Impact
Score
Priority
Score
Risk
Score
Severity Mitigation Action Status Contingency
RI-1 The poor
monitoring
process of
Performance
Management
HR managers often struggle with
measuring the accuracy of
employee performance,
providing feedback as well as
developing strategies that can
improve employee performance.
This can lead to employee
disengagement, poor employee
performance and a higher
employee turnover rate.
Inadequate training and
insufficient resources
Decreased employee
engagement as well as poor
employee performance and
high employee turnover rate.
2 2. 4
Low
Implement regular check-ins and
provide feedback to employees to
improve monitoring and address
performance issues.
Started May occur
frequently
RI-2 Absenteeism
and lack of
productive
work
High levels of absenteeism can
result in lower productivity
levels of the employees and
further it will decrease the
productivity of the company as
well. This also increases the
employee turnover rate for an
organisation.
Poor workplace culture
and lack of work-life
balance among the
employees
Absenteeism decreases the
productivity rate of the
employees and increases the
employee turnover rate
which results in a higher
cost for the employee
recruitment process.
4 2 8
Medi
um
Encourage employee wellness and
engagement initiatives, and offer
flexible work arrangements to improve
attendance and productivity.
Started May occur
RI-3 Inadequate
Workflow
Management
Inadequate workflow
management is a significant
challenge for HR managers in
talent management. It refers to
processes and systems that are
insufficient for managing the
workflow. It can cause delays in
the recruitment process,
problems in identifying talent
gaps and difficulties in managing
workload distribution.
Lack of automation as
well as insufficient and
ineffective
communication.
Inadequate workflow results
in delayed project
submission due to reduced
employee engagement in the
work.
4 4 16
High
Implement process automation,
streamline communication and provide
adequate training to improve workflow
management efficiency.
Will be
Started soon
May occur
7. Risk Log (Cont’d..)
RI-4 Limited Work
Status
upgrades for
limited
opportunity
Every employee seeks growth
in an organisation and when
the company fails to give the
proper opportunities regarding
their future growth then it
results in employee
disengagement as well as
increasing the employee
turnover rate of an
organisation.
Lack of sufficient
resources as well as flat
organisational structure
which does not have
many hierarchical levels
limiting opportunities
for upward mobility and
career growth.
Limited growth
opportunities in an
organisation decrease
employee engagement as
well as decrease employee
morale and further increase
the employee turnover rate
in an organisation.
3 3 9
Med
ium
Provide career development
opportunities and pathways for
future growth.
Will be
started
May occur
RI-5 Lack of
professional
training and
development
Employers need to provide
opportunities for employees to
upskill themselves by
providing training and
development programmes.
Otherwise, it can increase the
risk of employee turnover.
Inadequate planning and
a limited budget can
prevent an organisation
from providing training
and development
opportunities for their
employees.
Lack of professional
training and development
opportunities can decrease
the job satisfaction of the
employees as well as
increases the employee
turnover rate of an
organisation.
2 3 6
Med
ium
Offer regular training programs and
opportunities for professional
development.
Will be
started
May occur
RI-6 Decreased
Employee
Engagement
HR managers need to create a
positive work environment that
fosters employee engagement
and motivation. This involves
developing strategies for
recognizing and rewarding
employees, providing
opportunities for employee
input and feedback, and
promoting a culture of open
communication and
collaboration.
Lack of communication,
toxic work environment,
poor management
etcetera.
It causes reduced
employee productivity and
further increases the
employee turnover rate of
the company.
2 2 4 Low
Improve communication, recognition
and opportunities for employee
feedback for increased employee
engagement and motivation.
Started
already
May occur
frequently
8. Modified Risk Log
Risk Id Risks Type Risk description Cause Effects Impact
Score
Priority
Score
Risk
Score
Severity Mitigation Action Status Contingency
RI-1 The poor
monitoring
process of
Performance
Management
HR managers often struggle with
measuring the accuracy of
employee performance,
providing feedback as well as
developing strategies that can
improve employee performance.
This can lead to employee
disengagement, poor employee
performance and a higher
employee turnover rate.
Inadequate training and
insufficient resources
Decreased employee
engagement as well as poor
employee performance and
high employee turnover rate.
2 1 2
Low
Implement regular check-ins and
provide feedback to employees to
improve monitoring and address
performance issues.
Started May occur
frequently
RI-2 Absenteeism
and lack of
productive
work
High levels of absenteeism can
result in lower productivity
levels of the employees and
further it will decrease the
productivity of the company as
well. This also increases the
employee turnover rate for an
organisation.
Poor workplace culture
and lack of work-life
balance among the
employees
Absenteeism decreases the
productivity rate of the
employees and increases the
employee turnover rate
which results in a higher
cost for the employee
recruitment process.
2 2 4
Low
Encourage employee wellness and
engagement initiatives, and offer
flexible work arrangements to improve
attendance and productivity.
Started May occur
RI-3 Inadequate
Workflow
Management
Inadequate workflow
management is a significant
challenge for HR managers in
talent management. It refers to
processes and systems that are
insufficient for managing the
workflow. It can cause delays in
the recruitment process,
problems in identifying talent
gaps and difficulties in managing
workload distribution.
Lack of automation as
well as insufficient and
ineffective
communication.
Inadequate workflow results
in delayed project
submission due to reduced
employee engagement in the
work.
4 3 12
Medi
um
Implement process automation,
streamline communication and provide
adequate training to improve workflow
management efficiency.
Will be
Started soon
May occur
9. Modified Risk Log (Cont’d..)
RI-4 Limited Work
Status
upgrades for
limited
opportunity
Every employee seeks growth
in an organisation and when
the company fails to give the
proper opportunities regarding
their future growth then it
results in employee
disengagement as well as
increasing the employee
turnover rate of an
organisation.
Lack of sufficient
resources as well as flat
organisational structure
which does not have
many hierarchical levels
limiting opportunities
for upward mobility and
career growth.
Limited growth
opportunities in an
organisation decrease
employee engagement as
well as decrease employee
morale and further increase
the employee turnover rate
in an organisation.
2 2 4 Low
Provide career development
opportunities and pathways for
future growth.
Will be
started
May occur
RI-5 Lack of
professional
training and
development
Employers need to provide
opportunities for employees to
upskill themselves by
providing training and
development programmes.
Otherwise, it can increase the
risk of employee turnover.
Inadequate planning and
a limited budget can
prevent an organisation
from providing training
and development
opportunities for their
employees.
Lack of professional
training and development
opportunities can decrease
the job satisfaction of the
employees as well as
increases the employee
turnover rate of an
organisation.
2 2 4 Low
Offer regular training programs and
opportunities for professional
development.
Will be
started
May occur
RI-6 Decreased
Employee
Engagement
HR managers need to create a
positive work environment that
fosters employee engagement
and motivation. This involves
developing strategies for
recognizing and rewarding
employees, providing
opportunities for employee
input and feedback, and
promoting a culture of open
communication and
collaboration.
Lack of communication,
toxic work environment,
poor management
etcetera.
It causes reduced
employee productivity and
further increases the
employee turnover rate of
the company.
2 1 2 Low
Improve communication, recognition
and opportunities for employee
feedback for increased employee
engagement and motivation.
Started
already
May occur
frequently
12. Cashflow
Item Description 2 Months 3 Month 2 Months 5 Months 6 Months 3 Months 2 Months 10 Months 2 Months 1 Month
1 Conduct a needs analysis £65,000 £0 £0 £0 £0 £0 £0 £0 £0 £0
Actual £80,000
2 Define KPIs £0 £15,000 £0 £0 £0 £0 £0 £0 £0 £0
Actual £19,000
3 Develop a strategy £0 £0 £70,000 £0 £0 £0 £0 £0 £0 £0
Actual £200,000
4 Design the system £0 £0 £0 £78,000 £0 £0 £0 £0 £0 £0
Actual £80,000
5
Identify roles and
responsibilities
£0 £0 £0 £0 £23,000 £0 £0 £0 £0 £0
Actual £25,000
6
Establish performance
metrics
£0 £0 £0 £0 £0 £300,000 £0 £0 £0 £0
Actual £100,000
7
Define development
opportunities
£0 £0 £0 £0 £0 £0 £140,000 £0 £0 £0
Actual £23,000
8
Create a communication
plan
£0 £0 £0 £0 £0 £0 £0 £180,000 £0 £0
Actual £71,000
9
Train managers and
employees
£0 £0 £0 £0 £0 £0 £0 £0 £90,000 £0
Actual £45,000
10
Launch and monitor the
system
£0 £0 £0 £0 £0 £0 £0 £0 £0 £35,000
Actual £10,000
Planned balance £65,000 £80,000 £150,000 £228,000 £251,000 £851,000 £991,000
£1,171,00
0
£1,261,00
0
£996,000
ACTUAL balance £70,000.00 £70,000.00
£170,000.0
0
£250,000.0
0
£275,000.0
0
£975,000.0
0
£1,098,000.0
0
£1,369,000.
00
£1,414,000.
00
£934,000.0
0
13. Modified Cashflow
Item Description 2 Months 3 Month 2 Months 5 Months 6 Months 3 Months 2 Months 10 Months 2 Months 1 Month
1 Conduct a needs analysis £65,000 £0 £0 £0 £0 £0 £0 £0 £0 £0
Actual £70,000
2 Define KPIs £0 £15,000 £0 £0 £0 £0 £0 £0 £0 £0
Actual £19,000
3 Develop a strategy £0 £0 £70,000 £0 £0 £0 £0 £0 £0 £0
Actual £100,000
4 Design the system £0 £0 £0 £78,000 £0 £0 £0 £0 £0 £0
Actual £80,000
5
Identify roles and
responsibilities
£0 £0 £0 £0 £23,000 £0 £0 £0 £0 £0
Actual £25,000
6
Establish performance
metrics
£0 £0 £0 £0 £0 £100,000 £0 £0 £0 £0
Actual £100,000
7
Define development
opportunities
£0 £0 £0 £0 £0 £0 £140,000 £0 £0 £0
Actual £23,000
8
Create a communication
plan
£0 £0 £0 £0 £0 £0 £0 £180,000 £0 £0
Actual £71,000
9
Train managers and
employees
£0 £0 £0 £0 £0 £0 £0 £0 £90,000 £0
Actual £45,000
10
Launch and monitor the
system
£0 £0 £0 £0 £0 £0 £0 £0 £0 £35,000
Actual £10,000
Planned balance £65,000 £80,000 £150,000 £228,000 £251,000 £851,000 £991,000
£1,171,00
0
£1,261,00
0
£796,000
ACTUAL balance £70,000.00 £70,000.00
£170,000.0
0
£250,000.0
0
£275,000.0
0
£975,000.0
0
£1,098,000.0
0
£1,369,000.
00
£1,414,000.
00
£824,000.0
0
14. 2. Consequences of Project not going ahead
• The “TMS” in a company can be a
crucial stage (Roscoe et al. 2019)
• In terms of performance,
absenteeism, workflow, job status
upgrades (Ikram et al. 2019)
• Establishing clear expectations for
attendance and communicating
(Mousa and Othman, 2020)
15. 2. Consequences of Project not
going ahead (Cont’d…)
• Professional growth and
development to all employees
(Collings et al. 2019)
• The opportunities of the inhouse
training sessions, attending
workshops, conferences and
taking online (Claus, 2019)
• The encouragement in taking
ownership by achieving
professional development, getting
support and resources
16. 2. Consequences of Project not
going ahead (Cont’d…)
• Lack of visibility into Employee
Performance
• track progress and take proactive
action (Audenaert et al. 2019)
• Without the project establishing a
positive and encouraging work
atmosphere (Whysall et al. 2019)
17. 3. Benefits of addressing the problem
• Addressing the problem faced by
the HR managers
• An employee will create high-
quality work (Gallardo-Gallardoet
al. 2020)
• Improving customer happiness
and corporate results (Hooi, 2021)
• Offering opportunities for
professional development and
progress might help to boost
employee motivation and
engagement.
18. 3. Benefits of addressing the problem
(Cont’d…)
• Giving employees the chance to
grow professionally can also help
them
• Positive effects on job
performance, customer
happiness, and company (Harsch
and Festing, 2020)
• Engaged workers are more likely
to remain with the company
19. Conclusion
• Boosting employee confidence,
generating competitive and fast
paced performance.
• The “human resource
management system” used by the
organization.
• Understand and map the project
better.
20. Reflective Learning Notes
• This report has helped me in learning the
“Talent management system” that exists
in the market.
• I had theoretical knowledge of the Gannt
chart which I have put into practical use
through the preparation of this report.
• I have learned that project management
concepts are very important and it is
important while making the use of project
aspects
• I have learned an enormous range of
aspects like project baseline is important.
• I have learned costing is important in
project.
21. References
• Audenaert, M., Decramer, A., George, B., Verschuere, B. and Van Waeyenberg, T., 2019. When employee performance
management affects individual innovation in public organizations: The role of consistency and LMX. The International
Journal of Human Resource Management, 30(5), pp.815-834.
• Claus, L., 2019. HR disruption—Time already to reinvent talent management. BRQ Business Research Quarterly, 22(3),
pp.207-215.
• Collings, D.G., Mellahi, K. and Cascio, W.F., 2019. Global talent management and performance in multinational
enterprises: A multilevel perspective. Journal of management, 45(2), pp.540-566.
• Gallardo-Gallardo, E., Thunnissen, M. and Scullion, H., 2020. Talent management: context matters. The International
Journal of Human Resource Management, 31(4), pp.457-473.
• Harsch, K. and Festing, M., 2020. Dynamic talent management capabilities and organizational agility—A qualitative
exploration. Human Resource Management, 59(1), pp.43-61.
• Hooi, L.W., 2021. SME performance: does organizational learning capability really matter?. International Journal of
Organizational Analysis, 29(5), pp.1093-1116.
• Ikram, M., Zhou, P., Shah, S.A.A. and Liu, G.Q., 2019. Do environmental management systems help improve corporate
sustainable development? Evidence from manufacturing companies in Pakistan. Journal of Cleaner Production, 226,
pp.628-641.
• Mousa, S.K. and Othman, M., 2020. The impact of green human resource management practices on sustainable
performance in healthcare organisations: A conceptual framework. Journal of Cleaner Production, 243, p.118595.
• Roscoe, S., Subramanian, N., Jabbour, C.J. and Chong, T., 2019. Green human resource management and the enablers
of green organisational culture: Enhancing a firm's environmental performance for sustainable development.
Business Strategy and the Environment, 28(5), pp.737-749.
• Whysall, Z., Owtram, M. and Brittain, S., 2019. The new talent management challenges of Industry 4.0. Journal of
management development.
Editor's Notes
A “Talent management system (TMS)” is an all-inclusive strategy for overseeing and advancing personnel inside a business. Undoubtedly, it has become more complicated for HR managers to supervise and track the development of their employees as a result of the expansion of remote work. Real-time insights regarding employee performance, absenteeism, workflow, and job status upgrades, among other crucial factors, can be given to HR managers through this system. The problems with attributing to employee management have been identified in the assignment. The problem faced by the Human resource management in the context of talent handling projects has been illustrated with the help of the Gantt chart, cash flow, and Risk Log. The consequences of not adapting to this system as well as the advantages of addressing these challenges and taking sound steps in resolving them have been explained in the assignment.
Employers need to give opportunities to the employees regarding their future development and opportunities to upskill themselves by providing training and development and that will help the company to retain top talents in the organization.
From the risk register it can be seen that most of the risk factors are resulting in decreased employee engagement and that is the main cause of employee turnover (Jaharuddin and Zainol, 2019).
From the risk register it can be seen that most of the risk factors are resulting in decreased employee engagement and that is the main cause of employee turnover (Jaharuddin and Zainol, 2019).
In the cash flow partoculars, cash inflows are Cash generated from effective HRM which costs 14000 and Increase in capital with efficient Human resources which costs 2300. On the other hand, cash outflows are Implementing effective Human resources, Analysing issues, and Salary of HR employees for which Total cash outflows become 3600. Moreover, the calculated cash flow becomes 12700 in amount.
Gantt Chart
A Gantt chart is a graphical representation of a project schedule that shows the start and finish dates of the different tasks or activities within the project. Gantt charts are generally used in project management in order to help project managers and team members plan, track, and manage project schedules. They provide a clear visual representation of the project timeline, making it easy to identify dependencies, track progress, and manage resources effectively.
In this Gantt chart, the project starts with analysing the case study followed by its illustration and description. The initiation part lasts 3 days starting from 1st January in the current year. After analysing the case study, the initiation part of the project has been started which takes 2 days. Thereafter, project planning has been accomplished which takes 4 days and in this part, the entire project execution demographics have been done. After planning the project tasks, the key patriot has been done which is risk analysis. In this part, a Risk Register has been created in which six risks are identified. Following the Risk analysis, a cash flow process has been accomplished to assess the financial activities of the project. Finally, a reflective analysis has been accomplished to illustrate the entire project's outcomes and implications.
In the cash flow partoculars, cash inflows are Cash generated from effective HRM which costs 14000 and Increase in capital with efficient Human resources which costs 2300. On the other hand, cash outflows are Implementing effective Human resources, Analysing issues, and Salary of HR employees for which Total cash outflows become 3600. Moreover, the calculated cash flow becomes 12700 in amount.
Gantt Chart
A Gantt chart is a graphical representation of a project schedule that shows the start and finish dates of the different tasks or activities within the project. Gantt charts are generally used in project management in order to help project managers and team members plan, track, and manage project schedules. They provide a clear visual representation of the project timeline, making it easy to identify dependencies, track progress, and manage resources effectively.
In this Gantt chart, the project starts with analysing the case study followed by its illustration and description. The initiation part lasts 3 days starting from 1st January in the current year. After analysing the case study, the initiation part of the project has been started which takes 2 days. Thereafter, project planning has been accomplished which takes 4 days and in this part, the entire project execution demographics have been done. After planning the project tasks, the key patriot has been done which is risk analysis. In this part, a Risk Register has been created in which six risks are identified. Following the Risk analysis, a cash flow process has been accomplished to assess the financial activities of the project. Finally, a reflective analysis has been accomplished to illustrate the entire project's outcomes and implications.
In the cash flow partoculars, cash inflows are Cash generated from effective HRM which costs 14000 and Increase in capital with efficient Human resources which costs 2300. On the other hand, cash outflows are Implementing effective Human resources, Analysing issues, and Salary of HR employees for which Total cash outflows become 3600. Moreover, the calculated cash flow becomes 12700 in amount.
Gantt Chart
A Gantt chart is a graphical representation of a project schedule that shows the start and finish dates of the different tasks or activities within the project. Gantt charts are generally used in project management in order to help project managers and team members plan, track, and manage project schedules. They provide a clear visual representation of the project timeline, making it easy to identify dependencies, track progress, and manage resources effectively.
In this Gantt chart, the project starts with analysing the case study followed by its illustration and description. The initiation part lasts 3 days starting from 1st January in the current year. After analysing the case study, the initiation part of the project has been started which takes 2 days. Thereafter, project planning has been accomplished which takes 4 days and in this part, the entire project execution demographics have been done. After planning the project tasks, the key patriot has been done which is risk analysis. In this part, a Risk Register has been created in which six risks are identified. Following the Risk analysis, a cash flow process has been accomplished to assess the financial activities of the project. Finally, a reflective analysis has been accomplished to illustrate the entire project's outcomes and implications.
In the cash flow partoculars, cash inflows are Cash generated from effective HRM which costs 14000 and Increase in capital with efficient Human resources which costs 2300. On the other hand, cash outflows are Implementing effective Human resources, Analysing issues, and Salary of HR employees for which Total cash outflows become 3600. Moreover, the calculated cash flow becomes 12700 in amount.
Gantt Chart
A Gantt chart is a graphical representation of a project schedule that shows the start and finish dates of the different tasks or activities within the project. Gantt charts are generally used in project management in order to help project managers and team members plan, track, and manage project schedules. They provide a clear visual representation of the project timeline, making it easy to identify dependencies, track progress, and manage resources effectively.
In this Gantt chart, the project starts with analysing the case study followed by its illustration and description. The initiation part lasts 3 days starting from 1st January in the current year. After analysing the case study, the initiation part of the project has been started which takes 2 days. Thereafter, project planning has been accomplished which takes 4 days and in this part, the entire project execution demographics have been done. After planning the project tasks, the key patriot has been done which is risk analysis. In this part, a Risk Register has been created in which six risks are identified. Following the Risk analysis, a cash flow process has been accomplished to assess the financial activities of the project. Finally, a reflective analysis has been accomplished to illustrate the entire project's outcomes and implications.
The project of incorporating the “TMS” in a company can be a crucial stage in managing the workforce, enhancing engagement and performance of employees and thus ensuring organizational success. On the other hand, not taking the project can have a significant impact on the overall success and sustainability of the company. Managing talent can be a particularly difficult problem in the post-Covid-19 era and the consequences can be alarming.
Monitoring Remote Workers May Be Challenging Without a “TMS”: In terms of performance, absenteeism, workflow, job status upgrades, etc., monitoring remote employees can be challenging. Poor performance and a lack of accountability can result from this contrary to the planned project.
Absenteeism: Establishing clear expectations for attendance and communicating the goals to the employees can be challenging without having an effective and relevant management system. Monitoring the attendance and holding staff members responsible for upholding organizations standards requires a lot of effort. The project could have helped in tracking the activity of the employees and recognize any underlying causes of inactivity or absence, such as job stress or burnout, and take necessary action to treat them.
“Poor Work-flow Management”: In order to solve this problem, it may be useful to examine the organizations present Work-flow and locate any bottlenecks or inefficiencies.However to simplify procedures and enhance teamwork, it requires thinking about putting workflow management tools or software in place. Once again to make sure that everyone is on the same page and that the job is being done in a timely and effective manner, regular check-ins and team meetings can also be helpful which is impossible with a sound and efficient “talent management system”.
“Limited Work Status Upgrades for Limited Opportunity”: Regardless of position or length of service with the organization, it's crucial to offer possibilities for professional growth and development to all employees. Consideration of putting in place a system of performance-based promotions that honors workers for their accomplishments and contributions are highly needed in an organization. These upgradations could not be carried out in the existing lacking system of the organization.
“Lack of professional training and development”: Issues with faces by the employees of the organization is what helps in developing transiting and development initiatives that are comprehensive and takes in account the needs of the organization. The absence of an aligned personnel management system as faced by the organization and with the continuation or termination of the project might result in not understanding these requirements. Employees may not receive the required training or development without the suggested development project, which could result in subpar performance and reduced productivity. The opportunities of the inhouse training sessions, attending workshops, conferences and taking online courses can be missed by the employees of the organization. The encouragement in taking ownership by achieving professional development, getting support and resources in achieving personal goals can not be attained in the absence of this crucial project. Morale can decline and create a toxic work atmosphere when people feel unsupported and underappreciated.
“Lack of visibility into Employee Performance”: HR managers could not access real-time data on Employee Performance without a “TMS”, making it challenging to track progress and take proactive action when required. Lack of good talent management may cause employees to feel isolated and unsupported, which can lower employee engagement and productivity.
Employee Engagement: A good performance management approach depends on engaged employees. Consider holding regular focus groups or employee surveys to get feedback on management methods, workplace culture, and employee needs in order to increase engagement. Personnel management could ensure to fix any problems or difficulties that are found, and inform staff members of any updates or improvements. As a result of not investing in the saturated development project staff members could lose the chance to offer comments, exchange ideas, and participate in decision-making. Without the project establishing a positive and encouraging work atmosphere, promoting teamwork, collaboration, and open communication can be challenging.
Reduced Productivity: Productive goals of the organization might not get effectively conveyed to the employed which can result in lack of productive work being done as well. HR managers could not access real-time data on Employee Performance without a “talent management system”, making it challenging to track progress and take proactive action when required.
High Turnover Rates: Without proper talent management, workers can lose interest in their jobs and become unsatisfied, which might result in high turnover rates.
Performance management may be inconsistent or ineffective without developing the existing “TMS” of the organization and cost it a lack of accountability and underperformance.
Lack of good personnel management without going through the development project can cause firms to lose their competitive edge and become unable to recruit and keep the best employees or efficiently train and deploy their staff.
Inefficient talent management techniques in dealing with the changing work culture can lead to legal and regulatory problems, such as discrimination or a failure to adhere to labor rules.
Addressing the problem faced by the HR managers of the organizations during and after the pandemic and working in its solutions through the development of talent management projects can be highly beneficial.
Absenteeism and ineffective work: Organizations can boost their general performance and productivity levels by tackling absenteeism and ineffective work. The likelihood that an employee will create high-quality work, fulfill deadlines, and contribute to the success of the company is higher when they are present and engaged . Addressing these problems can also aid in lowering employee stress and burnout, which will boost job satisfaction and staff retention.
Insufficient Workflow Management: Good workflow management can increase effectiveness, speed up turnaround times, and enhance teamwork. By doing so, errors and delays may be decreased, improving customer happiness and corporate results. Also, since they are better able to manage their workloads and cooperate with their coworkers, employees who have good workflow management experience less stress and burnout.
Upgrades to Limited Work Status due to Limited Opportunity: Offering opportunities for professional development and progress might help to boost employee motivation and engagement. Workers are more likely to be productive, creative, and committed to their work when they feel valued and supported. Also, giving employees the chance to enhance their careers can aid in their recruitment and retention, resulting in more skilled and diverse staff.
Lack of professional training and development: Good training and development programs can help employees learn more, which will improve their effectiveness at work and the bottom line. Giving employees the chance to grow professionally can also help them feel supported and invested in by the company, which can enhance employee engagement and job happiness.
Employee Engagement: Positive effects on job performance, customer happiness, and company results can result from high levels of employee engagement. Employee engagement increases motivation, productivity, and commitment to the job, which fosters a more positive work environment. Also, engaged workers are more likely to remain with the company over the long term, which lowers turnover rates and lowers the expense of hiring and onboarding new staff.
“Talent management system” has been concluded to be a great tool in enhancing knowledge, boosting employee confidence, generating competitive and fast paced performance in constantly changing business climates. Challenges that the majority of the organization faces in this day and age after the increasing trend of remote working environments in managing employee attributes has been outlined in this assignment. The lacking element in the “human resource management system” used by the organization has been identified to be a “TMS '' that is modern and equipped with integrated tracking and organizing features. Cash Flow, Gantt Chart, Risk log has been determined to be the useful tracking and organizing tools through these assignments and has been used to understand and map the project better. Lastly the advantages that the addressing of these issues could bring to the management and the organization has been discussed in the assignment.
I have got the chance to learn about the risk log and how it can help in addressing and managing risks.
