HRM The process of identifying and hiring the right talent is particularly difficult in Singapores competitive financial services sector. This is compounded by the countrys small population which limits the talent pool.

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Name: Shereen Bte Mustafar

Student No.: 3178965

Course: Business Management (BBMFT - 39th Intake)

Course no: Human Resource Management: BUSM 3201

Assessment: Individual Essay

Topic: Topic 1 (Talent attraction and retention)

Word Count: 2895 words (excluding quotations)

"Today's workforce has become more global, virtual and diverse than it has ever been, this makes acquiring the right talent an increasingly complex and challenging activity. Winning the war for talent requires more than just winning the recruiting battle" (Harriot et al. 2008). It involves a complicated and difficult undertaking - developing internal systems that attract and retain the right talent and organise the talent in ways that lead to continuous innovation and change. While the business landscape has changed dramatically, recruiting and retaining the right people is just as important as before. But the stakes are higher now that the margin between success and failure is razor thin, claims Lynch (2008).

Johnson (2002) states that in today's climate, human resources (HR) is expected to deliver business results on a much tighter budget, and according to Larkan (2007) this causes lower headcounts which means that each new