As heavily regulated industries become more mature in a world where knowledge spreads rapidly and technological advances are imitated by competitors, there is little that separates their cost bases. One area of competitive advantage is workforce attitudes and behaviors. The topics of personnel selection, talent management and loyalty strategies will then be addressed. These three issues are intertwined and it will be argued that if successfully implemented with the organisation's strategic objectives in mind, they will ensure business success. Fernández-Aráoz et al (2009, p. 4) detailed seven steps to successful senior management recruitment. The first is to anticipate the need to replace staff. They recommend modeling what the organizational structure will be three years from now and assessing the leadership needs for that structure. This is good advice as avoiding staff attrition is not possible, so if it can be predicted and planned for, the risk of business disruption can be mitigated and recruitment costs reduced. This can be achieved through programs such as internal talent identification and development and an increasingly popular employee referral recruitment strategy. Rosenberg (2008, p. 2) agrees with these methods and the need to review recruiting needs often. Secondly, it has detailed the job requirements into job-based, team-based and company-based skills. This is supported by Carless (2005, p. 12) who argues that it is more accurate to assess job seekers who are suitable not only for the organization but also for the job to predict a positive outcome in the recruitment process. This presumption is made on the basis that the applicant is likely to collectively evaluate their knowledge... halfway through the document... Group context, work attitudes and organizational misbehavior: the case for withholding work effort', Journal of Business Ethics, vol 86, no. 1, pp.15-28. Krajewski H, Goffin R, McCarthy J, Rothstein M, Johnston N 2006, 'Comparing the validity of structured interviews for management-level employees: should we look to the past or focus on the future?' , Journal of Work and Organizational Psychology, vol 79, no. 3, pp 411-432. Lane C 2008, 'Promoting productivity, commitment and innovation by building trust', Human Resources Magazine, vol 13, no. 5, pp 24-26.Riche, B 2007, 'The effect of international staffing practices on subsidiary staff retention in multinational corporations, International Journal of Human Resource Management, vol 18, no. 4, pp. 523-536.Rosenberg J 2008, 'Recruiting Talent', Journal of Property Management, vol 73, no. 1, pages 34-37.
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