Project #2 Essay Example | Topics and Well Written Essays - 500 words

Project #2 - Essay Example Dr. B identifies three main challenge areas that need to be addressed by the company: talent acquisition, compensation, and training and development. The most important problem in HR appears to be market changes that increase manpower costs. The result is that compensation is not well balanced with talent, which causes delays in the recruitment process. The company then suffers losses in terms of time schedules and workload issues. Furthermore, a lack of sufficient talent and manpower places more stress upon existing employees, with the result that performance suffers. The first strategy to handle this problem can be to implement training and development for staff as they are recruited. The compensation package can then include bonuses and rewards as staff becomes better trained. For existing staff, a bonus and reward system can also be implemented. Staff who volunteer for certain levels of training and completing these successfully can for example be rewarded by various means. This could include raises, bonuses, or other forms of reward such as holidays. In terms of talent acquisition, appropriate members of staff can be identified to help with this. Staff can for example be asked to identify potential talent in their social circles.