Question: QUESTION THREE [ 2 0 ] [ 2 0 ] Read the text below and answer the question / s that follow: Case Study: Streamlining
QUESTION THREE Read the text below and answer the questions that follow: Case Study: Streamlining Talent Acquisition and Performance Management at TechNova Inc. TechNova Inc., a rapidly growing technology firm, is renowned for its innovative solutions in the software development industry. With its expansion into new markets, the company is now focusing on strengthening its Human Resources HR practices. To maintain its competitive edge, TechNova Inc. has committed to optimizing its talent acquisition and performance management processes to meet key HR management goals: Provision, Retention, Development, and Maintenance. Background: TechNova Inc. has historically centered its recruitment efforts on sourcing top talent from prestigious universities and tech hubs. Although this has previously yielded positive results, their traditional hiring processes struggled to scale effectively with the companys accelerated growth. This issue became particularly pronounced as the firm expanded its operations across multiple continents. Challenges: The HR team at TechNova Inc. identified several core challenges: Provision: Difficulty in consistently sourcing highcaliber candidates promptly, leading to staffing shortages in critical projects. Retention: High turnover rates, particularly among midlevel staff, which impacts ongoing projects and morale. Development: Ensuring that employees' skills evolve in line with technological advancements. Maintenance: Balancing workload and providing adequate support to prevent burnout and maintain employee satisfaction. Scenario: To address these challenges, TechNova Inc. revamped its talent acquisition and performance management strategies. This involved a multifaceted approach leveraging advanced technology, data analytics, and inclusive policies. As part of the new strategy, TechNova Inc. implemented an AIpowered recruitment platform designed to streamline sourcing and initial candidate assessment. This platform helped identify candidates who not only possessed the required technical skills but also aligned with the company's cultural values. Additionally, the HR team introduced a comprehensive onboarding and mentoring program to foster a sense of community and support from the outset. To enhance retention, TechNova Inc. rolled out an employee recognition program and a transparent career progression framework. Simultaneously, the company introduced flexible working arrangements and mental health resources to cultivate a supportive work environment. TechNova Inc. also invested heavily in continuous professional development, offering employees access to the latest online courses and certifications in emerging technologies. Regular performance evaluations focused not only on immediate productivity but also on longterm career growth and personal development goals. Finally, to maintain a motivated and productive workforce, TechNova Inc. developed a holistic wellness program that included regular health checkups, teambuilding activities, and policies promoting a healthy worklife balance. This strategic overhaul aimed to create a cohesive approach to talent acquisition and performance management, aligning with and supporting the companys overarching HR management goals. Based on the case study of TechNova Inc., identify and analyze the key HR management goals Provision Retention, Development, Maintenance that the company aims to achieve through its revamped talent acquisition and performance management strategies. Discuss how these strategies address the specific challenges faced by TechNova Inc. Evaluate the effectiveness of TechNova Inc.s new HR strategies in achieving their HR management goals. Consider potential risks and benefits, and propose additional measures that could further enhance their talent acquisition and performance management processes.
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