HRM599 SESSION LONG PROJECT 1

Select one of the employers listed in the list of least admired companies for 2011, in Farfan’s article.

Farfan, B. (2011, June 12) Fortune 2011 least admired companies list—U.S. retail industry companies. About.com. Retrieved November 30, 2012, fromhttp://retailindustry.about.com/od/awardwinningretailchains/a/least-admired-us-retail-companies-2011-fortune-magazine-rankins-worst.htm

You are the newly hired top HR professional in the organization. (You will continue through all your SLP papers with this same organization.)

It is a Friday afternoon at this SLP organization’s workplace, and you have just joined your co-workers for a party honoring one of your colleagues who is going to retire at the end of the month. In the midst of a conversation, you overhear your CEO jokingly stating that there seems to be an ongoing number of retirement parties in this company.

As the head of HR, you feel you need to address this comment, as lighthearted as it may seem. You approach your CEO and learn that this observation is at the heart of a number of concerns, namely the perceived number of potential retirements in the next several years, given the demographics of your organization’s workforce. The CEO is concerned that the company is not in a position to deal with the number of people exiting the workplace and the resulting exodus of institutional knowledge. You point out that the number of voluntary quits seems to be skyrocketing. You mention that a succession plan might be the best way to address these issues. Your CEO is very interested in this idea and asks to meet with you on Monday morning to talk further about implementing a succession plan, which she wants to roll out within the next year. She wants to know what an employer who is rated “Best Employer to work for” by Fortune Magazine(http://money.cnn.com/magazines/fortune/bestcompanies/2011/full_list/ ;). is doing in knowledge transfer and succession planning and which of these ideas would work for your company.

In this first SLP, provide a summary of your SLP organization (number of employees, locations, history of the organization, description of its business).

What is knowledge transfer and also succession planning and how might attention to these processes benefit your SLP organization?

What “best” employer practices will you choose to present to her? Be sure to include the name of the employer(s). Why? did you select those particular ones?

How will you show your CEO the return on investment (ROI) of a Succession Plan? Provide an example, inserting numbers (fictitious but realistic) to make your example meaningful.

Bring in at least 2 library sources to help strengthen your discussion.

Please upload your paper by the Module due date. Paper length: ;3-4 pages, not counting the cover and reference pages.

Required Materials

Calo, T. (2008). Talent management in the era of the aging workforce: the critical role of knowledge transfer. Public Personnel Management, 37(4), 403-416. Retrieved November 30, 2012, from ABI/INFORM Global. (Document ID: 1631659851).

Farfan, B. (2011, June 12) Fortune 2011 least admired companies list—U.S. retail industry companies. About.com. Retrieved November 30, 2012, fromhttp://retailindustry.about.com/od/awardwinningretailchains/a/least-admired-us-retail-companies-2011-fortune-magazine-rankins-worst.htm

Feldman, D. C. (2001). Career coaching: what HR professionals and managers need to know. HR. Human Resource Planning, 24(2), 26-35. Retrieved November 30, 2012, from ABI/INFORM Global. (Document ID: 75508280).

Garavan, T. N. (1997). Training, development, education and learning: different or the same? Journal of European Industrial Training, 21(2), 39-50. Retrieved November 30, 2012, from ABI/INFORM Global. (Document ID: 117541996).

Moore, T., & Vandermey, A.. (2011, February). 100 best companies to work for. Fortune, 163(2), 91. Retrieved November 30, 2012, from ABI/INFORM Global. (Document ID: 2267662191).http://money.cnn.com/magazines/fortune/bestcompanies/2011/full_list/

Popescu, L., Popescu, V., & Iancu, A. (2010). The economic impact of employer investment in training. Economics, Management and Financial Markets, 5(1), 170-175. Retrieved November 30, 2012, from ProQuest. ( Document ID: 2084371351).

Sambrook, S. ( 2005) Exploring succession planning in small, growing firms. Journal of Small Business and Enterprise Development. 12 (4), 579-595. Retrieved November 30, 2012, from ProQuest.

Sharma, R. & Bhatnagar, J. (2009). Talent management – competency development: key to global leadership. Industrial and Commercial Training, 41(3), 118-132. Retrieved November 30, 2012, from ABI/INFORM Global. (Document ID: 1858564321).