ASSIGNMENT

OF
TALENT
ACQUISITION AND
PERFORMANCE
MANAGEMENT

BY ASHU TYAGI
MBA SECTION B
ROLL NO. 180123
1. ATTRACTING AND RETAINING THE
TOP TALENT
Hiring can be a challenge. In today’s global economy, employees
have more agency than ever in choosing where and for whom
they work. If you want to be a business that attracts and retains
top talent, it’s important to know how to create an environment
where people seek you out. People don’t leave a job. They leave
an employer. They leave a boss. They leave because they’re
confused by their role. Or they leave because of a lack of
purpose.

HOW TO ATTRACT AND RETAIN TALENT IN AN

ORGANIZATION

1. LEADERSHIP

New job candidates want to know who they are going to be

working for and aligning themselves with. The founders. Senior
executives. Managers. Anyone with authority. That means you
need great leadership that exhibits integrity and upholds the
values of the company on and off the battlefield.

2. GIVE PATS ON THE BACK

Your younger crop of employees want regular feedback, and
your older ones expect that you’ll at least acknowledge their hard
work every once in a while. Giving consistent feedback is always
a great way to show that you care about and are engaged in your
employees’ on-the-job development. It doesn’t have to cost much
—verbal or email acknowledgements are free,
3. LET GO OF THE 9-5 MENTALITY
Statistics suggest that companies with more flexible attitudes
toward work hours are more successful in both attracting good
talent and retaining it. In a recent Center for American Progress
survey, 75 percent of adult respondents said they’d like their
workplaces to offer more schedule flexibility, such as “flex time”
contracts, which would allow employees to work from the comfort
of their home for half the workweek.

4. RECOGNITION AND REWARD

Rewards and recognition must be both intrinsic and extrinsic.
Extrinsic motivation involves public recognition and external
rewards such as bonuses and praise. Intrinsic motivation is even
more important. This allows employees to feel connected, like
they are “in” on things.

5. TEAMWORK AND TEAMBUILDING

Teambuilding should be ingrained in the culture. In everything you
do. That means that a team-oriented culture has to be decisively
created and nurtured. It can come down to the smallest things like
where people sit, what types of meetings you have and how
you interact with your customers and partners. Top talent
is hard to attract and even harder to keep.
2. EFFECTIVENESS AND SCOPE OF
EMPLOYEE REFERRALS IN THE
PROCESS OF TALENT SOURCE

EMPLOYEE REFERRAL is an internal method for finding job

candidates. By definition, employee referral is a structured
program that companies and organizations use to find talented
people by asking their existing employees to recommend
candidates from their existing networks.

EMPLOYEE REFERRAL IS SO IMPORTANT:

Candidate quality will be better
Wider candidate pool
Hiring speed
Boosts morale
Cost
Counter negative reviews
Good candidate fit
Better retention rate
Appreciation for recruitment
EFFECTIVENESS AND SCOPE OF EMPLOYEE
REFERRALS

1. Employee referrals generate more profit:

Employees who were hired through referral programs produce

25% more profit for their companies than new hires hired via other
sources. (Source: FirstBird)

2. Employee referrals improve offer acceptance rate:

Referred candidates are more likely to accept your job offer by a
statistically significant 2.6–6.6 percent. (Source: Glassdoor)

3. Employee referrals bonus costs:

69% of companies offer cash bonuses that fall between $1,000 —
$5,000. (Source: Meritage Talent Solutions)

4. A referred candidate is faster to hire than a traditional

candidate
Intuitively, this makes perfect sense. Rather than having to craft a
job posting, receive resumes and screen through them all, all you
have to do is interview a referred candidate to hire them.
3. EMPLOYEE
ENGAGEMENT AND ITS IMPACT ON
ORGANIZATIONAL DEVELOPMENT

Employee engagement is a deep and broad connection that

employees have with a company that results in willingness to go
above and beyond what is expected of them to help their
company succeed.

Impact of employee engagement

1. Higher Employee Satisfaction

Employee satisfaction is key in any company, and when
employees are not satisfied with their job, they lack enthusiasm
about the day to day of their role and the growth of their
companies at large. Low job satisfaction becomes a drain on the
company’s time and money. When employees are engaged at
work and feel satisfied with their position, they feel a greater
connection to the company.

2. Higher Retention and Lower Turnover

The hiring process for new employees is very expensive and
time-consuming. Another benefit of investing in employee
engagement is that it will help you retain your top employees and
decrease your turnover rates by ensuring that your team is happy.

3. Higher Productivity
Engaged employees work faster, harder and stronger because
they like what they do. It’s a no-brainer; when you’re interested in
and connected to what you’re doing, you are more likely to do it
well.

4. Increased Profitability
Of course, when your employees feel good at work, they work
harder, and when they work harder they produce more quality
work which in the end points to a happy customer. Happy
customers keep coming back and they refer other people to your
company.

5. Less Absenteeism
Engaged employees show up to work and once there, they get
more work done. Highly engaged businesses in the USA have
realized 41% reduction in absenteeism the issue with disengaged
employees is that they don’t feel a sense of responsibility to the
company they work for, so they don’t have a problem not showing
up.

6. Increased Employee Loyalty

A huge benefit of having engaged employees is that they are loyal
to your company and therefore act as company ambassadors.