MANAGEMENT OF HUMAN RESOURCES.

DBH3202.

MEMBERS NAME AND REGISTRATION NUMBER

SHIRLYNE ABURIRI- D33/3204/2022

TIMOTHY OGARO-D33/3105/2022

TIMOTHY SANI-D33/3068/2022

MARY NJERI-D33/3168/2022

BRIAN HAJISON-D33/3108/2022

EVELYN NGUGI-D33/3009/2022

SHALOM NDANU-D33/3169/2022

FAITH NDUNGE-D33/2902/2022

TREVOR ABASHORA-D33/3153/2022

KOSKE CHEPCHIRCHIR-D33/3010/2022

DENNIS KARANI-D33/3097/2022
INTRODUCTION.

Attracting and keeping top personnel is essential for any organization's success and
growth in today's cutthroat labor market. Let's dissect the essential elements and tactics of this
procedure.

Defining competition

In the labor market, competition is defined as an organization's competition to draw in

and hold on to the best talent. The shortage of skilled labor and the growing need for their
knowledge across a range of industries give birth to this competition. Globalization,
demographic upheavals, technical developments, and adjustments in customer preferences are
some of the factors that fuel competitiveness.

Defining Top Talent

Top talent encompasses individuals who possess exceptional skills, experience, and
potential to drive innovation, productivity, and growth within an organization. These individuals
often demonstrate a strong work ethic, leadership qualities, creativity, and a willingness to
continuously learn and adapt. Identifying and attracting top talent is essential for companies
seeking to gain a competitive edge and achieve long-term success.
 Defining the Labor Market

The labor market refers to the supply and demand for labor within an economy. It
includes both employers seeking to fill vacant positions and individuals seeking employment
opportunities. Various factors influence the dynamics of the labor market, such as unemployment
rates, job availability, wage levels, and industry trends. Understanding the intricacies of the labor
market is essential for organizations to develop effective recruitment and retention strategies.

Ways of attracting top talent in a labor market;

In a competitive labor market, attracting top talent becomes paramount for organizations
seeking to maintain a competitive edge and foster growth. To achieve this, companies deploy
various strategies aimed at enticing skilled professionals to join their ranks. Below are several
key strategies commonly utilized in attracting top talent:

1. Employer Branding: Building a strong employer brand is essential for attracting top
talent. This involves showcasing the company's culture, values, and mission through various
channels such as social media, career websites, and employee testimonials. A positive employer
brand can significantly enhance the organization's appeal to potential candidates.

2. Competitive Compensation Packages: Offering competitive salaries and benefits is

crucial for attracting top talent. In a competitive labor market, candidates often have multiple job
offers, so organizations need to offer attractive compensation packages to stand out. This may
include not only base salary but also bonuses, stock options, healthcare benefits, and other perks.

3. Professional Development Opportunities: Top talent is often eager to grow and

develop professionally. Companies can attract such individuals by offering opportunities for
advancement, mentorship programs, training sessions, and tuition reimbursement. Providing a
clear path for career progression can make the organization more appealing to ambitious
candidates.

4. Flexible Work Arrangements: Flexibility in work arrangements, such as remote work

options, flexible hours, or compressed work weeks, has become increasingly important for many
professionals. Offering such flexibility can help companies attract top talent who value work-life
balance and autonomy.

5. Emphasis on Company Culture: A positive company culture can be a significant draw

for top talent. Organizations that prioritize employee well-being, diversity and inclusion,
teamwork, and innovation are likely to attract candidates who align with these values.
Highlighting the company's culture during the recruitment process can help candidates assess
their fitness within the organization.

6. Effective Recruitment Marketing: Employing targeted recruitment marketing strategies

can help organizations reach top talent more effectively. This may involve leveraging social
media platforms, attending industry events, partnering with recruitment agencies, and optimizing
job postings to attract qualified candidates.

7. Employee Referral Programs: Employee referral programs can be an effective way to

attract top talent through existing employees' networks. Offering incentives for referrals
encourages employees to recommend qualified candidates, who are often a good cultural fit and
may already have a connection to the organization.

8. Transparent Communication: Open and transparent communication throughout the

recruitment process is essential for building trust with candidates. Providing clear information
about the role, expectations, company culture, and career growth opportunities helps candidates
make informed decisions and ensures a positive candidate experience.

9. Showcasing Success Stories: Highlighting success stories of current employees can

demonstrate the organization's commitment to employee development and career advancement.
Sharing testimonials or case studies of employees who have achieved success within the
company can inspire potential candidates and showcase the organization as a desirable place to
work.

10. Continuous Feedback and Recognition: Top talent often seeks recognition for their
contributions. Providing regular feedback, acknowledging achievements, and offering
opportunities for recognition can help organizations attract and retain top performers.

Ways of retaining top talent in a competitive labor market;

Retaining top talent in a competitive labor market is essential for organizations to

maintain their competitive edge and ensure long-term success. Losing key employees can be
costly in terms of recruitment expenses, productivity, and institutional knowledge. To retain top
talent, companies deploy various strategies aimed at creating a positive work environment,
fostering employee engagement, and offering opportunities for growth and development. Below
are several keyways' organizations can retain their top talent:
 1. Competitive Compensation and Benefits: Offering competitive salaries and benefits
packages is crucial for retaining top talent. Employees are more likely to stay with an
organization that compensates them fairly and provides perks such as healthcare benefits,
retirement plans, stock options, and bonuses. Regularly reviewing and adjusting compensation to
reflect market trends can help retain employees who might otherwise be enticed by higher-
paying opportunities elsewhere.

2. Career Development Opportunities: Top talent is often ambitious and seeks

opportunities for growth and advancement. Providing clear paths for career progression, offering
training and development programs, and supporting employees in pursuing further education or
certifications can help retain employees by demonstrating a commitment to their long-term
career growth.

3. Mentorship and Coaching Programs: Pairing top performers with experienced mentors
or coaches can provide valuable guidance, support, and feedback. Mentorship programs can help
employees navigate challenges, develop new skills, and expand their professional networks,
fostering loyalty and engagement.

4. Recognition and Rewards: Recognizing and rewarding top performers for their
contributions is essential for employee morale and retention. This can take the form of verbal
praise, public acknowledgment, performance-based bonuses, or opportunities for advancement.
Regularly celebrating achievements and milestones helps employees feel valued and motivated
to continue delivering exceptional results.

5. Work-Life Balance: Maintaining a healthy work-life balance is important for employee

satisfaction and retention. Offering flexible work arrangements, such as remote work options,
flexible hours, or compressed workweeks, can help employees better manage their personal and
professional responsibilities, reducing burnout and turnover.

6. Supportive Leadership and Management: Strong leadership and supportive

management play a significant role in retaining top talent. Managers who provide regular
feedback, listen to employee concerns, and actively support their team members' professional
growth and development are more likely to retain top performers.

WORK STUDY CASE

SAFARICOM.

Leading Kenyan telecom provider Safaricom offers an intriguing framework for examining the
relationship between elite talent, competition, and the labor market. The company is looking for
individuals with exceptional backgrounds in marketing, finance, telecommunications,
technology, customer service, and other areas that are essential to its day-to-day operations.
These skills are essential to creating and executing innovative services and solutions that enable
Safaricom to stay one step ahead of its rivals. This is how Safaricom connects to this idea;

1. Competitive Salary and Benefit Packages: To draw and keep top personnel in a highly
competitive labor market, Safaricom provides competitive pay, bonuses, and perks such
as retirement benefits.

2. Career Development Opportunities: To foster talent and offer avenues for career
advancement inside the organization, Safaricom invests in training and development
initiatives.
3. Creative Work Culture: Safaricom's workplace culture places a strong emphasis on
innovation, creativity, and inclusion, which attracts professionals looking for fast-paced,
forward-thinking settings.

4. Initiatives for Employee Well-Being: To attract talent looking for a healthy work-life
balance, Safaricom priorities employee well-being by providing flexible work schedules,
health benefits, and support services.

5. Employer Branding and Reputation: Safaricom's appeal as a top employer in the Kenyan
market is bolstered by its excellent brand reputation and dedication to corporate social
responsibility.

6. Corporate Social Responsibility (CSR): Engaging in meaningful CSR initiatives that

resonate with employees and contribute to the community. Involving employees in
volunteer programs and charitable activities, fostering a sense of purpose and pride in
their work.

7. Recognition and Rewards: Implementing recognition programs to celebrate and reward

employee achievements and contributions. Providing opportunities for public
acknowledgment and career advancement based on merit and performance.
8. Employee Feedback and Communication: Establishing open channels of communication
for employees to provide feedback, share ideas, and address concerns. Actively listening
to employee feedback and implementing changes based on suggestions to improve the
workplace environment.

9. Strong Leadership and Vision: Providing clear leadership and a compelling vision for the
company's future, inspiring employees to align with the organization's goals and values.
Empowering managers to lead by example, mentor their teams, and foster a culture of
collaboration and excellence.

10. Continuous Improvement and Adaptation: Continuously evaluating and evolving talent
management strategies to remain competitive in the labor market. Staying agile and
responsive to changing market dynamics, employee needs, and industry trends to attract
and retain top talent effectively.

CONCLUSION.

In conclusion, prioritizing employee retention requires a multifaceted approach that

addresses various aspects of the employee experience. Safaricom has embraced this
approach in the telecommunications sector. Such an approach has contributed to the
company's success, demonstrating the importance of attracting and retaining top talent.

The company prioritizes competitive compensation, ample career development,

mentorship programs, a creative work culture, employee well-being, and strong employer
branding. It also focuses on technological innovation and initiatives like M-Pesa. This
approach aligns with market demands and employee aspirations, solidifying its position
as a leading employer in Kenya's dynamic labor market. Safaricom's success
demonstrates the importance of holistic talent strategies in driving organizational
excellence.