This sample will let you know about:
- What is Talent Management & Importance?
- Discuss about the Role of Leader of management.
- Discuss about the Internal and External Factors of talent management.
Leadership and management are most important elements of the business. A leader and a manager play great role in each type of industry. There are effective leadership and effective management are too much-needed in the service industry. With the support of systematic management and effective leadership a business is easily able to achieve its goals in the market. Many of the companies in service industries always try to improve their leadership and management aspects to gain high competitive advantage. This report discusses the role of a leader and a manager in the FCTG (Flight Centre Travel Group). There are various management theories also mentioned below which very helpful to the company. Many internal and external factors are included in this report which highly influence management styles within the company in the travel industry. This report discusses various management and leadership skills all which are too much-needed in the job role of a manager and a leader. Specially in the service industries these skills are highly needed to gain effective customer attention in the market. There are comparison and contrast of FCGT and TUI on the basis of talent management also included in this report.
Talent management is one of the major tasks to the management of FCTG, because with the proper talent management it able to achieve effective and skilled workforce in their operations (Car and Atun, 2017). Talent management is not a complicated task to the management, in which it only needs to identify strength of their employees. With the effective talent management the company able to improve its all over performance also in the market. The human resource management is always responsible to manage the talent of people within the organization. Talent management is a process also where a company select some extra ordinary employees within workforce. The FCTG is able to increase their employees performance at workplace with the support of systematic talent management.
Importance of Talent Management
Talent management is too important in the FCTG, because with proper talent management the company is able to gain skilled workforce in their operations. There are some major importance of talent management mentioned below;
- Increase Performance: Currently the company is taking great advantages from talent management. For example; with the help of talent management it is able to increase its all over performance (Harris and Jones, 2017). The main reason behind statement is, talent management is helpful in improve performance of all employees, I which once employees improved their performance then the company's over all performance will automatically improve. So, the human resource management of FCTG is always responsible to systematically manage talent of people within operations.
- Promote Innovation: With the support of talent management the company is able to gain skilled workforce. In this case, once it gained skilled employees then its innovation aspect within operations will automatically improve, because skilled employees always try innovate something new things. Innovation is too necessary in the service industry to lead in the market by providing innovative services to the customers (Lumby, 2019). So, this is also a major importance of talent management within the company.
- Increase Customer Satisfaction: Talent management is very helpful in increase customer satisfaction, because skilled and effective employees always provide company's services to the customers in proper manner. Communication skills of employees are highly attracts customers in the service industry. So, with the support of talent management the company is able to improve communication skills as well. Customer satisfaction is the biggest key to the company for achieving large customer base in the market. So, here is talent management is too important in the company.
- Attract Top Talent: Currently there are various employees working in the company together for achieving same goals. In this case, here is not all employees has equal strength and workability (Fitch and Van Brunt, 2016). Some employees are high performer and some not, in which talent management help to the company to identify such employees who have high performance at the workplace. So, the company is able to attract top talent within its business environment. Employees who have less talent are also able to improve their talent through the talent management. Want to get Assignment help? Talk Our Expert Now!
These all are major importance of the talent management within FCTG company. Currently the company has great brand value in the international market, in which the talent management plays great role in maintaining good brand value of the company. With the support of proper talent management the company gaining huge competitive advantage also in the many market segments.
There are various theories of management are discusses below, like; Weber, Taylor and Fayol. These theories are very helpful in the effective talent management within FCTG.
Max weber was developed the Bureaucracy Management Theory. He was German political economist and sociologist. This management theory is not much effective to the organizations such as FCTG, because this theory was specially developed to manage government organization (Aung and Shahnon, 2019). Nowadays many of public and private companies started using this theory in their business environment, in which bureaucracy management theory will help to this company as well. Currently the management of company is able to take many advantages from this theory. This theory offers six important management principles to the businesses which helping them in their management activities.
With 'administrative class' feature of bureaucracy theory the company is able to increase their employees performance at workplace. According to the administrative class the feature, the top-level management need to motivate their employees by giving them some rewards, appreciation etc. With step of the management, employees feel valued within company's operations. Then they more improve their current talent at the workplace. So, this theory of management is very helpful to the company for managing talent of workforce. This theory says self-motivation is too necessary in employees for their improve talent, but here is the company also responsible to motivate their employees in many stages. The management able to motive their employees through give them effective salary, incentives, guidance (Gold, Thorpe and Mumford, 2016). In this case once employees motivated then their talent and workability will automatically improve. Bureaucracy management theory providing many effective way to the company for identifying talent within workforce. According to this theory, the management of a company need to give work responsibilities to employees on the basis of their work efficiency. Otherwise, employees not able to improve their talent in the company's daily operations. So, The FCTG is able to effectively manage talent of their workforce by following the concept of Weber's bureaucracy management theory.
Scientific Management Theory of Frederick Taylor is specially focuses on improving efficiency of economy, but it is too helpful in the talent management as well. Many of the successful brands in the world currently employed this scientific management theory in their daily operations. In this case the FCTG also able to take advantages by employing this theory in its business environment. On the basis of scientific management theory Taylor wants to say, management of any organization is an art. A manager is able to take the best work from their people or employees through effective managerial skills (Megheirkouni, 2018). There are Control on product cost, Reduce wastage of time, create safe work culture, increase performance of employees, etc. some major objectives of scientific management theory.
There are Taylor's management theory is very helpful to the company, because it offers various ways to the manager to make existing management more effective. The company is able to manage employees talent within operations through this theory. It is very helpful theory which improve the work efficiency of employees. The top-level management is able to analyse the current talent of their employees through this theory. In this case, once the management analysed their employees talent, then it'll able to take specific steps to systematically manage it. Scientific management theory is very helpful in the making of healthy work culture as well, in which this type of work cultures highly improve the skills and talent of employees. That's why Taylor's scientific management theory is helpful in the talent management within FCTG.
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Management theory of Henry Fayol's is a very productive model to the businesses, because this theory offers 14 effective management principles. Many of the companies gained many benefits through this theory. Henry Fayol specially discussed the talent management under his management theory (Iles, 2016). He says each business need to use some management principles in its operations for perfectly manage all things. So, here is the FCTG is able to achieve high success in the service industry by implementing management theory of Henry Fayol in their business environment.
This theory included various functions of management called; Planning, Organizing, Coordinating, Controlling and Commanding. These all functions are very important in the talent management of company. For example; a manager need to prepare a specific plan for manage talent of their employees within business operations. Then it needs to organize their all employees for selecting some highly talented and skilled employees. The management need to implement coordination between employees for improve current performance. In the final stage, it is responsible to control and command their employees talent. So, the Henry Fayol's management theory is very helpful to the company for managing talent.
Role of Leader
A leader plays great role in the FCTG's daily operations. Without support of a leader the company can't achieve its target in decided time period. Currently the company expanded its business in many countries (Gumus and et.al., 2018). So, it needs many employees for handling all operations, but here is the leader is a person who direct, guide and manage these all employees within operations. There are some major roles of a leader discusses below;
Motivation: This is one of the major roles of leader, because leader always work for motivating their employees or team members. Employees always needed high motivation to improve their current skills, talent and workability, in which a leader takes all necessary steps to motivate their employees within team work.
Direction: A leader is always responsible for directing those employees who come under their command. In the operations of FCTG, a leader clarify all things about tasks to their employees. For example; what to do, when to do, and how to do etc. It provides some guidelines also to their employees for systematically complete any task.
Makes an Effective Team: Leader always put their all efforts to build an effective teamwork within the company. It takes various steps for avoiding such elements within teamwork which make teamwork ineffective.
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There are leadership styles are generally such ways which a leader choose for systematically managing all things within teamwork. Some major leadership styles are mentioned below;
It is an important leadership style which was developed by Paul Hersey and Kenneth Blanchard (Cherry, 2019). Situational leadership says, a leader always need to change their behaviour according to situations within teamwork. It offers four useful leadership styles;
- Telling: In this style a leader tells their employees or team members about 'what to do', 'when to do' and 'how to do' etc.
- Selling: According to this style, a leader sells their ideas, decisions, orders for buying into the process.
- Participating: A leader participate in the whole teamwork with their employees. Leader gives less direction to employees in this style.
- Delegating: In this style a leader give full authority to their employees for take important decisions within teamwork.
It is a leadership style where a leader stop to take decisions and completely allow to their employees for take important decisions. Laissez-Fair leadership style is also called delegative leadership. In case when a leader want to analyse decision-making skills of their employees, then it employs this leadership style within team work. In this style, team members are authorized to take various decisions at their workplace. With the help of this style a leader is able to improve talent and skills of their team members.
Management styles are basically such fundamental ways which uses by a manager for getting effective results from their daily activities. There are some major management styles discusses below;
- Democratic Style: In this style, a manager invloves their employees to take some specific decisions within business operations (Purcell, 2019). Employees feel valued by management under this style. The final decision is always taken by the manager in this style.
- Transformational Style: This style develop innovation aspect in the manager. In this style the manager always find different way for the growth of FCTG. The manager motivates their employees for improve the company's performance in the service industry. This style of management mostly fouces on increase all over performance of the business.
- Coaching: In coaching style, a manager always act like a coach within business environment. It priovides specific direction, knowledge, traning, and guidance to their employees, in which employees are able to improve their talent and skills through this style of management.
Internal and External Factors
There are many internal and external factors exiting in the business environment of FCTG which influence management and leadership styles in both terms; positively and negatively.
- Employees Unions: A manager and a leader is responsible change their styles according to the demands of employees unions. These unions are generally well-wisher of each employee (Robson and Bassett, 2017). So, both need to change their behaviour on the basis of unions' conditions. Employees feel safe and improve their skills through these unions, it is the strength of this factor. In other side, many times union leaders become dictators. So, it the weakness of this factor.
- Performance: Many times manager and leader change their styles for improve performance of their employees. With the help of this factor the company is able to improve its all over performance, it is the main strength of this factor. The weakness is, improve employees performance is very complicated task to a manager and a leader.
- Employment Laws: These laws influence manager and leader to change their styles, because both need to completely follow all these laws. This factor promotes ethical environment within company, it is strength of this factor. In other side, follow all employment laws is tough challenge to the company, it is the weakness.
- Market Trends: All companies wants to hire talented employees, in which this factor is also influence to a manager and leader to change their style. Both need to create happy work culture to all employees where talented employees will never drop their jobs. The strength is, it promotes talent within employees. The weakness is, it increases shortage of talented and skilled employees.
Name- HR manager
Date- 12 February
Subject- Talent Management
Background-Previous human resources working in company were not efficient in their performance levels due to which FCTG profit margins were effected. There should be proper evaluation of hard and soft skills for effective talent management of staff in management roles. The branch manager, production manager and marketing manager selected by HR managers should posses strong professional experience of more than 2 years in multinational company. As they are the most crucial managerial role in a company, hiring talented and skilled people with strong leadership qualities is of utmost importance for company.
Significant aspects- Talent management in today's competitive business environment has influenced the skill requirements of managers to large extent in present scenario and for high growth in the future. Human resources are extensively important for achieving high productivity levels and high profit margins in company. Branch managers and the top-level managers including production and marketing manager are highly important for FCTG company. There should be proper assessment of skills, qualifications and experience of candidates by HR managers while selecting them in company (Cerna and Chou, 2019).High talented staff fosters growth and quality performance levels enhances company's production levels and enable to reach profit margins with cost efficiency. Change has influenced management and leadership styles in FCTG and TUI companies regarding management of talent effectively to great extent, there is extensive requirement of high skilled employees.
Branch managers- There is significant role of Branch Manager in company regarding maintaining proper organizational structure and supervising the functions properly.
- Hard skills- Knowledge of accountancy, business management principles for effective completion of assigned duties. Technical skills regarding computers and to use innovative machinery at work for efficient performance.
- Soft skills-Ethical code of conduct with strong communication skills and high leadership
Abilities to supervise the organizational structure through change. Capabilities to enhance coordination and cooperation within team members, encourage dynamic work culture in company along with potentialities to work in adaptive work environment.
Production manager- There is significant role of production manager in FCTG which includes analysing the inventory requirements, encouraging the use of innovative techniques by subordinates. An efficient production manager will help company to reach high profit margin targets with cost efficiency (Collings, Mellahi and Cascio, 2019).
- Hard skills- Knowledge of high tech inventory and advanced equipments will enable FCTG to gain competitive advancement in industry by offering new higher quality products.
- Soft skills- Capabilities to enhance coordination and cooperation within team members, motivate employees for adopting new technology in production .
Marketing Manager- There is significant role of marketing manager in FCTG which includes marketing and promoting about company operations in high consumer market. In volatile business environment marketing leaders should have knowledge about how to bring innovative marketing strategies in company.
- Hard skills-Knowledge of volatile market with the capability to construct business operations by analysing the statistics, using innovative marketing techniques for higher performance levels.
- Soft skills-Dynamic learning and the potentialities to work in adaptive work environment. Marketing manager should posses strong soft skills regarding their personal traits to evolve in dynamic work culture and contribute their strengths.
FCTG is the largest retail travel agency in Australia,it has implemented change management systems and leadership in relation to effective talent management by rigorously using innovative recruitment options. Hiring technical skilled officials in company who have potentialities to work in dynamic business environment. As FCTG is retail travel agency company which is highly competitive and volatile industry, leaders have an important role in effective implementation of change. Change management systems in FTCG encourage employees to build strong working skills by training and counselling them to harness strong adaptability in their working methods.
TUI is German multinational travel company which offers leisure and travel services to all its customers worldwide and owns travel agencies, airlines and retail stores (Friday, and Sunday, M., 2019).As TUI is retail travel agency company which is highly competitive industry, company aims for hiring technical skilled officials in company who have the potentialities to work in dynamic business environment. Change management systems in company encourages leaders and employees to build strong hard skills and soft skills in them for higher performance levels and enhance the profit margins.
Critical evaluation of how change has influenced management and leadership styles in TUI and FCTG
BASIS OF COMPARISON
Courses of actions which can be considered
FCTG human resource managers for hiring talented staff members in company can go for various options which are as followed-
Recruitment through Social media- Internet is a wide platform on which with the help of social media platforms recruitment of highly talented people can be done (Shet,2020). Twitter, Indeed are great options for companies to advertise about the job vacancies regarding the positions which will enable company to choose the best candidates with high potency levels.
- Advantages- Social media recruiting is quickest and innovative approach adopted by companies to choose high qualified, technical skilled people. It enables the company to advertise about the capabilities it is looking for in candidates on large platform to a wide audience.
- Disadvantages-It sometimes becomes difficult for companies to choose from large pool of candidates as social media advertisement reaches to large number of people.
Recruitment though advertising agencies- Advertising agencies help companies by advertising about job vacancies availability to potential candidates and on what parameters company will be selecting the candidates.
- Advantages- Recruitment through Advertising agencies help the top HR mangers to focus on other works effectively and it enables company to reach large level public(Sivathanu and Pillai, 2019).
- Disadvantages- It is not always a reliable source for company as advertisement agencies do not work effectively in meeting the criteria of workforce company is looking for.
Recommendations- Social media platform should be used to recruit and select high qualified and talented employees by HR managers in FCTG and TUI. Recruitment by social media with the help of internet will enable companies to promote about the capabilities they are looking in candidates effectively and on vast level. It will assist top management by handling the recruitment operations quickly by analysing graphics and statistics of apploicants on social media.
- FCTG and TUI accompanies if do not lay importance regarding talent management in their human resource which is highly necessary to adapt in the highly competitive business world, there might be loss in production targets. HR mangers should take proper caution in selecting the best candidates who can work in company with long term sustainability,and make company reach higher profit margins (Swailes, 2019).
- HR mangers should take care of the criteria of potential candidates who have strong hard skills and soft skills to work in dynamic business culture. Non competitive employees may hurt company goals with their under mark performance standards due to which company may face high losses in their revenues.
- Employees selected by HR managers hold have interpersonal skills to work effectively along teams with coordination and cooperation maintenance, for quick completion of works. They should posses strong communication skills to work effectively for establishing cooperation in team members.
- HR managers should focus on recruiting candidates while keeping the cost efficiency principle in mind, as employees should have the potentiality to retain in company for long term. It will help HR department to effectively implement their financial resources utilized in selection and recruitments (Mahajan,2019).
Contact- David Thomas (Member of talent management team)
It concluded that here is talent management is too important in the FCTG company. There are various management theories are included above which helpful to the company in talent management. A leader plays great role in the daily operations of the company. There are many leadership and management styles are also mentioned above, which helping to a leader and a manager to systematically handle different situations under business environment. There are various external and internal factors highly influencing management styles within the company. The manager need to use some modern strategies to perfectly handle impacts of these factors. Some useful management and leadership skills are also included in this report which very necessary in growth of the company. The top-level management of FCTG highly need to develop their current business strategies for gaining huge competitive advantage in the service industries.