Research Proposal Sample on Importance of Talent Retention/ Engagement in the Acquired Company of High-Tech Industry
Human resource or HR is always considered as one of the most important aspects of any company because it main focuses on the productivity of the specific business or organization that can affect their overall performance as well as their connection and relationship with other stakeholders. However, due to the different factors such as globalization and Information Technology or IT, particularly the Internet, the employment process is being affected and changing overtime, that is why it is important to focus on the different demand of the employment processes.
As of now, workforce is reflecting a change in the age mix, gender, ethnic and culture composition, immigrant status as well as the volume of workers with the disabilities. Furthermore, employers are also turning to the previously untapped resource like welfare recipients and the prison labor (Arthur 2001, p. 2).
Another important factor to consider is the satisfaction of the employees regarding their status in the company such as the benefits, different packages and the entire environment of the business that will be needed in order to attract as well as to retain the top performers, that will help to maintain productivity and efficiency of the company.
The process of employment is also being affected by IT or the Internet, this is due to the fact that there are more and more companies that are launching and doing their recruitment and hiring activities via the Internet, that will let them to have a wide source of candidates.
Above all, different companies have their different needs in terms of employment process that will vary from their culture, structure as well as industry type.
This paper will focus on the importance of employment process to any company. Furthermore, it will be important to show the importance of attracting and retaining the top performers as well as the good and sound relationship of the entire management to the employees, particularly in the high-tech industry.
Attracting as well as retaining quality talent are becoming extremely difficult and complicated for high-end industries, this is due to the fact that talent is scarce and more often than not, overcompensated (CyberMedia India Online 2007).
Hiring top talent is considered as a challenge, keeping it is another. The issue regarding the worker retention in the high-tech industries is considered as a serious problem that is getting worse (Willard 2002, p. 28). According to the study of American Management Association or A<A and Ernst & Young, during its annual Human Resources Conference 1999 , that uses data from the survey of 350 senior human resource managers on employee turnover. The result showed that: 46% of the respondents believe that skilled-worker retention was a very serious issue, while 28% said that it is a serious matter; 51% believe that the turnover was high among workers under the age of 30; and 37% of them reported problems regarding the retention of IT workers, which is considered as the highest percentage of any group of workers (Willard 2002, p. 28).
According to Willard (2002), the retention of IT workers can help to save different time and costs that can help the company to save in financial aspects of the company. In terms of time: the decide time; save attempt time; vacant time; new hire training time; department training time. In terms of cost: the costs that are associated with losing a good person; the costs of recruiting a new person; and the costs of training a new person to be as productive as the person who left (p. 29).
According to the study of Kanter, most of the high-tech firms are young and marked by the rapid growth a great need for continuous innovation for them to remain their position in the foreign markets. That is the reason why the processes of recruitment, motivation as well as retention of the technical talent are vital for the attainment of the organizational goals, thus lead to the changes in the bureaucratic structure of the company (Burris 1993, p. 84).
In order to come up with the answer regarding the research, a single case study. Case study refers to the collection as well as presentation of the detailed information regarding a given participant or small group, that includes the accounts of subjects themselves. It is a form of qualitative descriptive research that looks intensely at the individual for small participant pool, that can help to draw a conclusion only about the participant or group in that specific context (Colorado State University 2008).
The research will use the case of the Tyco Electronics in order to come up with the different data and observation that will help to answer and clarify the problem of the study.
The case study approach is more flexible compare to scientific research; this is due to the fact that the project focuses on emphasizing the exploration rather than the prescription or prediction. Furthermore, the researchers will be freer to discover and focus on the different issues as they arise in their experiments. Above all, the looser format of the case studies will allow researchers to being with the broad questions that will help to narrow the focus as the experiment progresses rather than attempting to predict each and every possible outcome before the experiment had been conducted (Colorado State University 2008).
It will also help the researcher to focus on the context, or by focusing on the case and situation of the Tyco Electronics, that can help to bridge the gap between the abstract research as well as the concrete practice that can be done by allowing the researchers to compare their firsthand observations with the quantitative results that are obtainable from other methods of research (Colorado State University 2008).
Furthermore, experience and familiarity about the tasks and the activities is also an important aspect. This is due to the fact that experienced and long-time employees are considered as an asset for the company, because they already have the enough talents and skills that are important in the process of research and development.
Due to the different aspects, particularly globalization, IT as well as education, the human resource process, particularly the process of attracting and retaining vital talents is becoming harder. That is why the process of valuing and retaining talents in a company, particularly in high-tech industry is important. In the situation of the high-tech industry, it is important to consider the retention of talents due to many reasons, first is that there is a scarcity in terms of skills and knowledge and the cost of compensation is also high.
Like any other industry, the process of retention can help the company to save money and effort in finding new candidates that will fit the position as well as will fit the structure and culture of the organization. This will save them from spending money in initial recruitment, selection and hiring process, thus it will help them to save effort in the process of gathering online data and interview processes. In addition to that, it will also help the company to maintain good relationship with their employees that can help the overall productivity and health of the organizational culture and environment.