Talent Management Engaging and Retaining Employees

However, with appealing external talent beckoning Maersk, it needs to rethink its hiring strategy. Whatever direction the company takes; it will have to face a challenge with unifying the highly diversified population of employees it hosts worldwide. Again, it will do away with its strategy of not rehiring persons who have previously left working with it and sought positions elsewhere. For these reasons, this case makes several recommendations as to what direction Maersk should take. It is recommended that Maersk should consider a thorough research and development process on its employees in order to hire people who are more likely to stay and develop them according to their job allocations through the training and development function. Its training and development ought to be in line with the needs of the company and thus, in response to internal company processes, units and leadership positions.

Development without retention should be considered a waste of resources, thus, the two concepts go hand in hand, so that Maersk doesn’t have to be training and developing talents only to lose them in five years. in scenario analysis, the company needs to place employees where they can perform best just as the PSS program indicates, where their developed talent will be of maximum utility and support them in the family setting to embrace leadership. as such, it could come up with a formal employee lifecycle, both for recruited graduate trainees and the externally hired employees so that they know they will go through a mentoring and hands-on training to acquaint themselves with the company culture and processes, will be needed in the company upon training for a legally binding set of time and will rise the ladders in a structured predictable and transparent manner to avoid discontent among them.

Problem Statement According to this case study, in terms of employee engagement and retention, Maersk suffers the risk of training employees only to lose them when they are poached by better paying employers due to their experience. However, if costs are lower than the marginal benefits of the process, the function should be considered. The company will benefit by acquiring employees who are likely to stay with the firm for long, utilize their training and development to better firm’s output and thus, solve the challenge of employee turnover, talent management, cultural diversity and integration challenges (Petersen et al, S47-S62). Training and development Maersk should consider structured unit-based training in which units are trained as per their employment needs and duties, subject to their job description.

This means that employees in the oil drilling business units are trained together and in sub-units that spell out their specific career roles, job duties and technical skill requirements to avoid spillage of skills development efforts on persons who may never use them. Training and development is crucial to the optimal performance of an employee. Conclusion In conclusion, Maersk ought to consider a strategic approach to the hiring and retention of qualified, trained and developed employees. This is save the company the expenses it goes through in hiring and training new staff every time employee turnover deprives it of qualified staff. Also, it will help to pool together a formidable team of employees who are well acquainted with the operations and the culture of the firm and are willing to stay with the firm.