DHRM403 – TALENT MANAGEMENT & EMPLOYEE RETENTION

Description

SESSION	JULY 2023
PROGRAM	MASTER of Business administration (MBA)
SEMESTER	IV
course CODE & NAME	DHRM403 – TALENT management& Employee retention
CREDITS	4
nUMBER OF ASSIGNMENTS & Marks	02 30 Marks each

 

 

Assignment Set – 1

 

1. Explain the five-stage approach for building a competency model.

Ans 6.

The five-stage approach for building a competency model is a systematic process used by organizations to identify, define, and develop the key competencies required for success in various roles within the organization. Competency models provide a clear framework for evaluating and improving performance, recruiting and selecting employees, and designing training and development programs. Here’s an explanation of each stage in the process:

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2. Discuss five elements that can be useful for firms to meet industry needs in the post-recession era.

Ans 2.

In the wake of a recession, businesses must adapt to the changing landscape and evolving industry needs to ensure their survival and success. The post-recession era requires firms to be nimble, innovative, and customer-centric. To effectively meet industry needs, companies should focus on five key elements: agility, digital transformation, customer-centricity, sustainability, and strategic partnerships.

Agility: The ability to quickly respond to changing market conditions is crucial in the post-

 

 

3. Elaborate on the stages in the execution of the Succession Management Program.

Ans 3.

The Succession Management Program is a comprehensive organizational strategy designed to identify and develop potential leaders within a company, ensuring a smooth transition of key roles when current leaders leave or move on. The execution of such a program involves several distinct stages, each crucial for its success. These stages collectively create a structured framework that facilitates the identification, grooming, and transition of talent.

 

Assignment Set – 2

4. What are the top strategies to improve employee retention?

Ans 4.

Employee retention is a critical aspect of organizational success, as it not only reduces recruitment and training costs but also maintains a stable workforce that contributes to long-term growth and productivity. To enhance employee retention, organizations must implement a combination of strategies that address various factors influencing employee satisfaction, engagement, and loyalty. Here are the top strategies to improve employee retention:

 

5. Enumerate the steps involved in the Recruitment process.

Ans 5.

The recruitment process is a systematic approach that organizations use to identify, attract, and hire suitable candidates for vacant positions within the company. It involves several stages designed to ensure that the best-fit individuals are selected to meet the organization’s goals and objectives. The recruitment process typically consists of the following steps:

Identifying the Need: The recruitment process begins with the identification of a need for a

6. Describe Talent Value Chain.

Ans 6.

The Talent Value Chain (TVC) is a strategic framework that organizations use to manage and optimize their talent acquisition, development, and retention processes. It emphasizes the holistic view of talent management, recognizing that attracting, nurturing, and retaining skilled employees is crucial for achieving long-term business success. The TVC framework outlines various stages through which talent flows within an organization and highlights the