G131743 V2-EBSC7400 Talent Management

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Oxford High School, Oxford *

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Nov 24, 2024

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EBSC7400 Talent Management Student name: Student ID: Lecturer name: Reference style: Word count: 1

Table of Contents 1. Business report ............................................................................................................................. 2 Introduction ...................................................................................................................................... 2 Key talent management themes ....................................................................................................... 2 Conclusion ....................................................................................................................................... 5 2. Reflective Journal ..................................................................................................................... 5 References ........................................................................................................................................ 9 2

1. Business report Introduction For an organization to attract, identify, and develop talented people for organizational growth and success, a full range of activities and processes are included in talent management (Collins and Smith, 2006). This business report seeks to summarize the major talent management topics covered in the lecture series for the unit on Strategic HRM and Talent Management, with a focus on the difficulties the creative industries face in attracting, hiring, and retaining talent. Considering the (Industrial Strategy Creative Industries Sector Deal) module, The UK's Gross Value Added (GVA) is greatly influenced by the creative industries, which also play a significant role in the economy (Frontier Economics, 2016). These fields need to effectively manage their talent pools if they are to continue growing and succeeding. Key talent management themes Challenges in talent management for creative industries The recruitment, hiring, and retention of talented people present particular difficulties for the creative industries. The workforce in the creative industries frequently needs specialized skills and competencies, making talent management strategies essential to their success. Theme 1: Effective recruitment and selection HR professionals can learn from Frederick Taylor's Scientific theory as well as Elton Mayo and McGregor's X and Y theory in order to tackle the recruitment difficulties in the creative industries ( Wren, and Bedeian, 2020 ). For finding people with the right talents and skills, Frederick Taylor's scientific theory advises taking a methodical approach. In the case of the creative industries, this entails creating job roles that correspond with particular creative tasks in order to guarantee that the right people are hired for the right positions. Customized job descriptions and skill evaluations can result in more successful hiring processes. The X and Y 3

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theory by Elton Mayo and McGregor emphasizes how crucial it is to take each person's needs and motivations into account (Whatishumanresource.com, Wren, and Bedeian, 2020 )Talent in the creative industries is attracted in large part by personal satisfaction and self-worth. HR professionals can encourage an environment that fosters innovation and creativity by offering opportunities for autonomy and creative freedom. This approach might be appealing to creative people looking for rewarding employment opportunities. Recruitment and selection strategies must be successful in order for the creative industries to find and draw in individuals who possess the specific talents and skills required for a variety of creative roles. According to Frederick Taylor's scientific theory, companies should use a methodical approach to identify staff members who possess the required skills (Wren and Bedeian, 2020). HR professionals can put into practise tactics like flexible work hours and recognition programs to foster a positive workplace that draws talented individuals looking for fulfilling employment experiences. Theme 2: Talent development and retention Skills development is a key part of skills management in the creative industries. HR professionals can use the X and Y theory of Elton Mayo and McGregor as well as the bureaucratic theory of Max Weber and Henri Fayol to promote talent growth and retention (Wren and Bedeian, 2020). Developing and maintaining skills in creative fields is a major problem due to the high demand for skilled workers and the search for new scopes. The Bureaucratic theory put forth by Max Weber and Henri Fayol can be used by HR professionals to address these issues ( Wren, and Bedeian, 2020 ). This theory places a strong emphasis on clear job descriptions, hierarchies, and set procedures. While freedom is necessary for creativity, some structure is also required for talent development to be successful. For supporting creative individuals' advancement within the organization, HR professionals can put in place clear career paths, skill development programs, and performance reviews. The importance of fostering an environment that encourages creativity and innovation is also highlighted by Elton Mayo and McGregor's X and Y theory ( Wren, and Bedeian, 2020 ). Talented people look for autonomy and support in the creative industries to reach their full potential. Training programs, mentoring, and cross- functional projects are a few examples of the development opportunities that HR professionals can offer. This strategy improves talent development while also helping to increase retention 4

rates. In the creative industries, talent retention is essential because losing top talent can negatively affect innovation and productivity. The X and Y theory by Elton Mayo and McGregor can be used by HR professionals to develop a supportive and interesting work environment ( Wren, and Bedeian, 2020 ). This entails fostering a positive organizational culture, providing chances for advancement, and honoring workers' accomplishments. HR professionals can increase the retention rates of the creative workforce by fostering a culture that is friendly to creativity. Structured development programs and a supportive work environment should both be included in talent development and retention strategies in the creative industries. HR professionals can create clear paths for talent growth by using the bureaucratic theory, and by using the X and Y theory developed by Elton Mayo and McGregor, they can make sure that creative people are empowered, motivated, and allowed to flourish within the company ( Wren, and Bedeian, 2020 ). A thorough approach to talent management is necessary to guarantee a steady stream of creative talent and long-term success in the creative industries. Theme 3: Performance management and succession plan HR experts can learn from Frederick Taylor's Scientific theory and Elton Mayo and McGregor's X and Y theory when it comes to performance management and succession planning in the creative industries. A crucial component of talent management in the creative industries is performance management. To guarantee that the inventive workforce is contributing to the organization's vision, it is crucial to align individual goals with organizational objectives. HR professionals can use Frederick Taylor's Scientific theory to put in place performance review systems that offer ongoing feedback and assist creative employees in understanding their value to the success of the company ( Wren, and Bedeian, 2020 ). Employees can effectively contribute to the creative process by having regular performance discussions that help them better understand their strengths and areas for development. For the long-term success of the creative industries, succession planning is essential to keeping top talent and spotting future leaders. The X and Y theory by Elton Mayo and McGregor can be used by HR professionals to create an environment that encourages high-potential employees to advance within the company ( Wren, and Bedeian, 2020 ). HR professionals can ensure a constant talent pipeline and lower the risks of important positions becoming vacant by offering opportunities for growth and development. 5

The process of succession planning entails selecting and training candidates for future leadership positions. The X and Y theory by Elton Mayo and McGregor can be used by HR professionals to develop an organizational culture that supports employees' desire to assume leadership roles ( Wren, and Bedeian, 2020 ). For the creative industries to continue to innovate and experience steady growth, performance management and succession planning must be done effectively. HR professionals can make sure that the creative workforce is engaged, motivated, and has the skills necessary to move the organization forward by putting relevant talent management theories to use. A positive workplace culture that supports employee growth and acknowledges their contributions will also help retain top creative talent and promote the long-term success of the creative industries. Conclusion In conclusion, creative industries face particular talent management challenges that call for specialized solutions. HR professionals can address the challenges in hiring, developing talent, managing performance, and developing succession plans by utilizing talent management theories like Frederick Taylor's Scientific theory, Max Weber and Henri Fayol's Bureaucratic theory, and Elton Mayo and McGregor's X and Y theory. The key to attracting, nurturing, and retaining creative talent is to place a strong emphasis on systematic approaches, individual needs, and fostering a positive work environment. A thorough talent management plan will make it possible for creative industries to flourish, contribute to economic expansion, and keep their competitive edge through innovation. 2. Reflective Journal I'll discuss my observations and the knowledge I gained from the seminar's discussions of how to make a workplace enjoyable, how to understand the talent shortage, and how AI artists are emerging in this reflective journal. I'll use Gibbs' reflective model to analyze my feelings, thoughts, and deeds in relation to each subject to see how they affected my comprehension and future professional goals. 6

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Description  I actively participated in group discussions and shared personal experiences regarding work settings and employee satisfaction during the seminar on creating a happy workplace. We looked at a number of methods for fostering a healthy work-life balance, personal values alignment with organizational values, and the development of positive organizational cultures.  We delved into the difficulties businesses encounter when trying to find and keep skilled workers during the seminar on the talent crisis. We talked about actual instances, like Abbots Care's strategy for addressing employee welfare and support to boost retention.  As per The New York Times (2022), Mr Jason M Allen who was the winner of the Colorado State Art Fair's competition in the category of emerging digital artists claimed that Art is dead after watching the growth of Artificial intelligence in creating art. We had stimulating discussions about the potential effects of artificial intelligence on the creative industries in relation to the rise of AI artists, including worries about AI stealing intellectual property. Feelings  As per ( www.happy.co.uk ), the benefits of a happy workplace include a happy individual and a workplace with a better future that prioritizes work-life balance, ethical practices, and mental health. The benefits of happy workplaces are well documented. Every measure of performance improves when staff feels happy and engaged:  From week 2 module learning, I was inspired and motivated to learn how businesses can prioritize employee well-being and the benefits it has on output and job satisfaction during the seminar on creating a happy workplace. The accounts of effective transformations and the significance of ongoing self-improvement motivated me.  Concerned about the difficulties businesses have finding and keeping skilled workers, I attended the talent crisis seminar. I could relate to the difficulties businesses like Abbots Care were having and their attempts to come up with creative answers to their staffing problems.  I felt a range of emotions during the seminar on AI artists. I was initially concerned about how AI might affect the creative industries, especially since I am an artist myself. 7

Evaluation  The seminar series provided insightful information on issues like managing talent shortages, developing a happy workplace, and the moral ramifications of AI in the arts. I esteemed the assortment of perspectives that the facilitators and my peers advertised, which extended my comprehension of these subjects.  I got to be mindful of the esteem of human capital in an organization's victory as a result of the discussions around HR hones and representative welfare. I can get the significance of cultivating and supporting comprehensive work culture in arrange to improve worker engagement and maintenance.  The workshop on the ability emergency emphasized the significance of proactive ability administration and progression arranging. I found that tending to potential staffing issues requires imaginative arrangements, such as catering to workers' personal needs and giving openings for advancement.  The workshop made a difference for me to reevaluate my introductory concerns around AI craftsmen. I see counterfeit insights as a device that can improve human inventiveness and make unused roads for imaginative expression. Actions  I understood that cultivating a strong work culture, advancing well-being, and adjusting values are all vital components of making a upbeat working environment. It too fortified my feelings around the transformative control of continuous enhancement and the significance of instruction for individual development.  The examination of the ability emergency brought to light the significance of HR arrangements and homes in attracting and keeping talented ability. It emphasized the importance of adaptability and readiness to workforce challenges.  I have learned from the investigation that AI can be a instrument for motivation and investigation within the inventive handle with respect to AI craftsmen. Whereas there are issues with mental property, grasping innovation can open up exciting and cutting-edge openings within the arts. Conclusion 8

In conclusion, the seminar series that I attended provided valuable insights into three major areas, creating a happy workplace, management crisis in talent, and lastly AI into the arts. This encouraged me in various ways where I become able to reflect on my beliefs and feelings and can consider their potential applications in my future career as a human resource professional. 9

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References Collings and Smith (2006). Strategic Talent Management: A review and research agenda. Human Resource Management Review. 19. 304-313. 10.1016/j.hrmr.2009.04.001. Frontier Economics, Absorptive Capacity: Boosting productivity in the creative industries (2016) https://www.frontiereconomics.com/documents/2016/07/absorptive-capacity_frontier-report.pdf The New York Times (2022) An a.i.-generated picture won an art prize. artists aren’t happy. , The New York Times . Available at: https://www.nytimes.com/2022/09/02/technology/ai-artificial- intelligence-artists.html (Accessed: 25 July 2023). Whatishumanresource.com. McGregor’s theory-X and theory-Y , Whatishumanresource.com . Available at: https://www.whatishumanresource.com/mcgregors-theory-x-and-theory- y#:~:text=Theory%20X%20assumes%20that%20people,motivated%2C%20and%20thrive %20on%20responsibility. (Accessed: 25 July 2023). Wren, D.A. and Bedeian, A.G., 2020. The evolution of management thought . John Wiley & Sons. www.happy.co.uk . Create happy, empowered workplaces with happy ltd , Create Happy, Empowered Workplaces with Happy Ltd . Available at: https://www.happy.co.uk/ (Accessed: 25 July 2023). 10

G131743 V2-EBSC7400 Talent Management

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