Essay: Retention of Talent

Sample Essay

In today’s economy, obtaining and retaining talent has become a primary goal for every organization. Because of this initiative, Human Resource Management has become one of the most important aspects of strategic business planning. However, most Human Resource basic functions, such as payroll, retirement plans, and health benefits, are being outsourced while in- house Human Resource departments are being directed to focus more on employee training initiatives and workplace morale.

In a 2006 survey conducted by the Society for Human Resource Management, 54% of the HR professionals reported the need to maintain face-to-face contact with their employees as the top reason for not outsourcing. This, according to the survey analysis, suggests that despite the popularity and advantages of outsourcing, some organizations still value the need to maintain the “human factor” in conducting their HR functions (Society for Human Resource Management, 2006). While many studies provide insights regarding the trend and practice of HR outsourcing, they do not explore HR outsourcing practices and its effects in depth. Such an absence of hard data makes it difficult for organization decision-makers to make an informed decision on whether to keep HR functions in-house or to outsource them.

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