HRM ASSIGNMENT

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INTRODUCTION:
Human Resource Management is the pillar of every organisation and its profitability. Below are the different views and strategies managers used to manage organisational resources successfully. Every heading has its own introduction.

Question 1
Provide a detailed summary of the innovative practices which organisations need to implement to attract and retain scarce skills within their companies. Introduction:
Companies are competing for scarce skills all-over the world, this encourages a lot of organisation to be innovative in their approaches to attract and retain these scarce skills. The first and far most important approach to attract scarce skills is recruitment, according to Swanepoel, Erasmus and Schenk (2008:257): “Recruitment can be described as those HRM activities that are undertaken in order to solicit job applications from people who have the necessary potential, knowledge, skills and abilities (competencies), to fill positions as employees who will assist the organisation in achieving its objectives.” A recruitment policy needs to be in place in order to attract the “right” individual for the position, according to Swanepoel, Erasmus and Schenk (2008:258) “the recruitment policy stipulates broad guidelines on how an organisation intends to deal with recruitment”. Various recruitment methods can be used, these include:

Advertising (internally as well as externally): “advertising has one basic underlying principle and that is communication. The purpose of an advert is to gain the right person’s interest and attention, which must then lead to action” Swanepoel et al. (2008:265). Factors such as a competitive salary, scarce skill allowance and other employee benefits can be included in an advert to attract candidates with scarce skills. Special event recruiting: this method may be used to attract scarce skills from specific groups of students on campuses of schools and universities Swanepoel et al. (2008:267). Companies can give scholarships to promising learners and students studying towards a scarce skill and in return employ them for a duration equivalent to the number of years sponsored. Vacation work and work-integrated learning schemes: “many university students seek work during their vacations and this provides a potential source of external candidates” Swanepoel et al. (2008:267), this might help the organisation to identify and potentially recruit skilled individuals for future employees. Technology driven recruitment: Swanepoel et al. (2008:268) reports that “the rapidly growing use of the internet for recruiting purpose makes this method a very popular way to reach potentially interested people as part of an external source.” Applicants can upload their details online and thus allowing the organisation to select from a vast of skilled individuals on a global scale. Social networks: Noe, Hollenbeck, Gerhart and Wright (2012:51) state that: “Social networks such as Facebook and Twitter help people satisfy their need to be connected to their friends. Recognizing the importance of “connectedness” companies of all sizes and in various industries are using social networks to enhance many different HR practices including recruiting, training and development.” Attracting scarce skills is only the first step, but retaining quality employees is the major challenge for most organisations provided that a lot of companies are competing for scarce skills. Some of the innovative practices to retain scarce skills are mentioned below: Compensation of employees:

“Compensation refers to all forms of financial returns and tangible services and benefits employees receive as part of an employment relationship. It is one of the most important factors that motivate an individual to seek employment with a specific company. The other is nature of the work. If an employee is dissatisfied with his or her compensation, there is a good chance that the employee...
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