diff_months: 16

7001EHR/EHR701: Principles of HRM and ER Assessment

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Added on: 2023-03-29 05:43:24
Order Code: 487940
Question Task Id: 0
  • Subject Code :

    7001EHR-EHR701

Scenario

You are the HR Manager of a large bank. You have some concerns that you are not preparedfor a large number of people that are between the ages of 55 and 65 and will be retiring in thenextdecade.YourCEOsaysthatyouneedtogetaheadofthisproblemandasksyoutopreparea policydocumentthatoutlinesthreepossible approachestoresolvingthis problem.

PARTAPOLICY OPTIONS

PolicyOption1Identifyhighperforming olderemployeesto retainor“rolechange”topreventknowledgelossand useexternalrecruitmenttoreplacebusinesscriticalroles.

Advantages:

  • Thereareanumberofolderemployeeswhodonotwanttoretireat65(Stoneetal2021).
  • Allowsforolderemployeesinjobsharingroles,part-timeroles,orotherflexibleworkingarrangements toretain
  • Useolderexperienced employeestotakeonmentoring,coaching,andtrainingrolestobuildknowledge withlessexperiencedemployees(Seymour2008)
  • Recruitmentcanbeusedto bringinspecialisedskillsandnewideas(Hills2009)

Disadvantages:

  • Youngeremployeesmay seelittleroomforpromotion,losepatienceand
  • Thereisariskthatemployeeswillbetrainedandmentoredinawaythatdoesnotalignwiththebank’s strategic
  • Knowledge may not be completely shared to protect the individual’s position in the
  • Externalrecruitmentcanbeexpensiveandsendsanegativemessagetoemployeesthatthebankisnotcommittedtotrainingandcareerdevelopment(FarndaleandNikandrouandPanayotopoulou2018).

Policy Option 2 – Identify younger potential top performers and build specific learningand development, performance management programs, so they can take roles as theybecome available.

Advantages:

  • Employees alreadyhave some of the requisite knowledge,skills,abilities,and othercharacteristics(KSAOs)toperformthe
  • Can assess gaps in knowledge and tailor specific training and development and embedthisintheirperformancemanagement
  • Usejobrotationthroughoutvariousdepartmentstoimproveknowledgeandworkingrelationshipswithsenior
  • Canbeusedtoaddressdiversityissuesatmanagementlevel(GreerandVirick2008).

Disadvantages:

  • Managersmaybereluctanttonominatetopperformersforfearofdisruptiontotheir
  • Candidatesarenominatedbecauseofpersonalrelationshipsratherthancompetency(Huang2001).
  • Nominating an unsuitable candidate may set that employee up to fail and adverselyaffecttheir
  • Requires high commitment from all levels of staff to ensure that the training anddevelopmentplansfitandworkwiththe performance management

Policy Option 3 – Identify future service needs, key positions and competencies at risk,developlearninganddevelopmentprogramstofillgapsanddevelopexistingperformance managementplansintotalentdevelopmentplans.

Advantages:

  • Learning and development is open to all employees, and previous hidden talent can bediscoveredanddevelopedtofilldeparting
  • Experienced employees can provide some training and coaching to ensure operationalknowledge is not
  • Learning and development can keep employees engaged in their career and improveperformance (GrumanandSaks 2011).
  • Aperformancemanagementplanthatfocusesonhowtodeveloptalentandfocuseslesson assessing talent can bring positive benefits to employees and the Bank (Stone andCoxandGavin2021).

Disadvantages:

  • Managers may lack the skills and training to implement the policies (Townsend andWilkinsonandBamberandAllan2012).
  • Employees may not want to participate in training outside of their current role withoutfinancial
  • Thetimeandmoneyspentupskillingstaffdoesnotguaranteethathighperformingstaffwillnottakeexternal
  • Requiresaculturalshift(withpotentialresistance)intheorganisationandcommitmentfromCEOdowntoentrylevelemployeesofparticipatinginanewstyleofperformance
  • Uploaded By : Katthy Wills
  • Posted on : March 29th, 2023
  • Downloads : 0
  • Views : 225

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