BUS365e-Selected Topics in Management

During the Covid-19 pandemic, many employees have lost their jobs through retrenchment. These employees also do not have the competencies required by companies seeking to hire. They are also not willing to change industries because of the lack of knowledge of new industries and the job scope, thus resulting in a misalignment between the retrenched employees and the hiring companies. Thus, the question of “how can unemployed individuals adapt to the changing economic landscape while companies attempt to find the best fit for the job?” needs to be urgently addressed.

(a) Given the changing economic landscape in Singapore, companies need to train and develop their staff to prepare them for future jobs. One way is by managing talent. Identify and explain five (5) concepts of talent management that can be adopted by the high-tech companies. You also need to explain how managers can apply five (5) key steps of talent management, and discuss five (5) reasons on the need to manage talent. Provide relevant examples.

(b) Future jobs will largely be in the field of knowledge. Knowledge and information that once lay with the top people is now easily accessible to all members in organisations. Research has shown that as employees become more educated, they have higher expectations and it is more challenging for them to be told how to do their work. Evaluate any two (2) of the five challenges for companies to manage knowledge. Provide relevant examples.

(c) Noe (2017) in his book “Employee Training and Development” mentioned that one of the forces impacting learning is the high value placed on intangible assets. Appraise any two (2) of the four intangible assets that companies, especially in the social service sector, need to be aware of as they prepare their employees for future jobs. Provide relevant examples.