Developing and retaining talent is becoming a major challenge for the employers all around the globe. While many organizations are learning to adjust to changing demographics and diversified employee preferences, they need to enhance their capabilities as HR and Talent Managers.
While these managers concentrate mainly on hiring and sustaining outstanding talent, their focus should be engaging the top performers to accomplish the most favorable outcome of a business, its goal.
A business can only grow if it has a talented workforce. But these days it is hard to find, build and retain ideal employees. However, with the right tools and powerful methodologies, getting the best people for your organization is very much achievable. In fact, by managing the current workforce and giving them, the required training can also help in improving the performance of the existing Human Capital.
Talent Management requires strategic Human Resource to elevate the growth of a business and achieve the set business objectives by enhancing its culture, values. Whether it is giving rewards or developing the workforce, recruiting or conserving, everything that is done to improve the standards of business is a part of strategic workforce planning and talent management.
Talent Management strategy should be relevant to business and should align the business with all the processes. The recruitment process is the most crucial stage of Talent Management, after which the recruitment performance is carefully evaluated. Then innovative business strategies are designed to enhance the performance of the workforce, and the necessary pieces of training are given to promote their talent. Succession planning plays a vital role to fill the critical positions. It is paramount to recognize the skill gaps through gap analysis to provide necessary guidance for preparation to reach that level.
Talent management has a great significance as a management practice. Earlier HR was limited to recruitment, but now it covers vast areas. When a company invests in hiring people and building talent, it is considered to be a long-term association ensuring that the talent stays even if top management has to face issues and challenges keeping up.
Facing Challenges and Adapting the Futuristic Approach
HR plays a strategic role in promoting the growth of any business or company. It offers orientation to the workforce, set goals, makes business strategies and aligns all of them in one direction.
From time to time HR needs to fulfill the talent demand of an organization. And not only to cater for the current demand, it needs to be prepared for the future strategies also to capture more skills in its skill inventory. With the advancement in the technology, many organizations have included robots, cloud, IOT, Big Data in their processes. Because of these, the business scenarios are also changing. The skill sets that were enough for any job, nowadays one-third of these skills are not even considered competent in the present scenario. That is why HR needs to be more agile, innovative and futuristic.
It is now crucial for the management to adopt mandatory agenda to recognize the new skills keeping future in mind and run the re-skilling program. The development of resources through these dedicated learning programs should be able to connect them to their key responsibility areas (KRAs), individual goals and organizational goals. Selection of candidates for re-skilling can be based on employee aspirations, appraisals, and feedbacks. It is essential that the re-skilling is associated with rewards and career development to make sure that the selected candidates are eager to acquire these new skills.
Another approach to re-skilling is job enhancement and job rotation practices employed by many organizations these days. Job rotation ensures that the right employee is shifted to the suitable job as per his skill sets and other pre-defined criteria. It is a precise movement and is given a lot of thoughts. And after proper planning and procedures; the employee is moved to the right job in the same organization.
Job enhancement, on the other side, includes additional responsibilities and tasks that are given to the employee at the same level. This practice provides an opportunity to the employees to enhance their skills in order to boost their motivation.
Systematic and Holistic Approach to Strategic Talent Management
Talent management needs a holistic and systematic approach. It is vital to keep your talent pool updated because if any of the top talent or leader leaves the organization at a crucial time, and there is no substitute to fill the position, then it might create a gap that will break the equilibrium.
Succession planning basically includes the development of employees of an organization to strengthen it for achieving the success. While the development of its talent is critical, it cannot be accomplished solely. Here comes the role of holistic talent management strategy.
With Business Talent Management Cloud, you can
- Fascinate, maintain and motivate the best talent by utilizing workflow-driven and adaptable talent management
- Set individual objectives and align them with corporate goals. Also, define the ways in which an employee can contribute towards the growth of the organization.
- Propel comprehensive talent management strategy with a system that integrates all talent-related processes and activities.
- Include social media to widen the reach for employment and help in generating referrals, and high-quality talent.
- Boost employee engagements.
Strategic Talent Management And Role of HR
It is the key responsibility of the HR professionals to hire the right talent for the significant roles at the right time. However, if done skillfully and strategically, talent management module may lead to better results for the organization’s growth in a long run.
Effective Recruitment Process
Recruitment cloud allows the employers to assess, source and hire the right kind of talent for their organization. With the help of Talent Acquisition Cloud, the recruitment process can be streamlined and automated. This enables the HR to handle the most complex and demanding environments in even larger organizations, and they can efficiently deliver successful recruitments by strategizing, boosting the talent acquisition effectively and efficiently.
While with the recent increase in the unemployment rates, there are many job seekers in the market. But because of the talent scarcity, recruiters are facing numerous challenges. Recruiting cloud helps them design smart strategies to pull the top performers through multi-tiered assessments and screening. This process ascertains that the entirely suitable applications of the candidates reach the recruiter’s desk. That is the reason HR needs to be proactive as well as reactive to cope with the talent management needs and ever-changing industry.
Hiring managers and recruiters now streamline their processes with the help of tools like interview management, applicant tracking and requisition management. At the same time, high profile candidates are also given the positive impression of your organization as a most wanted employer through many career sites and social media ads etc.
Sourcing through Social Networking
Talent Management Cloud utilizes social sourcing that helps HR to widen their reach and get higher referrals. While posting for a job offer on FaceBook and LinkedIn has become a common practice, it is not sufficient since the competitor may also use these sources to get to best performers.
However, through social sourcing service, you can reach the network of your employees that can turn out to be the best recruiters through referral tool. You can manage your targeted campaigns through simple connections of employee networking. This way the employees provide you with the top profiles to contribute to the organization and in turn get credit for that.
Goal management module allows the corporate to set, manage and track the individual as well as organizational goals. It helps align these objectives with the entire talent management process. Talent management cloud provides the opportunities to create a culture where employee’s development is given importance. The high-level initiatives by the top management lead to collaboration between the workforce and the managers to set the objectives in the right direction.
Tangible task setting such as associating goals to competencies or designing goal-related duties also allow the career development and monitor the individual growth of each employee. This does not only support employees to achieve their personal goals but also to foster their career growth. Work collaboration tools like wiki or forum enable the workforce to share goals as well as accomplish the shared objective, the success of the organization.
Performance management cloud is designed to track the employee development and evaluate their work performance by the top management and immediate managers. This tool offers a template-driven and flexible system that allows the configuration of the performance process to match the corporate practices. The in-built analytics and user-friendly interface are advantageous for both leaders and workforce.
Performance management tool offers supervision and decision support to accomplish the evaluation process effectively. The performance report consists of the analytical information along with worker rating. This enables HR administrators and support managers to track the entire performance management process.
Building and Developing Talent
While acquiring the best talent has become a war for most companies, their HR managers are searching for the best sources to recruit the top talent. They can also nurture the talent and retain them within the organization by engaging them. This seems difficult but can be accomplished by using the capabilities of the Talent Management Cloud in the following ways:
- By developing an intelligent recruitment process to search, engage and handpick the best applicants and retain them via user-centric processes.
- By utilizing rich employee networks through Social media networking tools for referrals along with internal social networks through improved information sharing and employee engagements.
- By developing role-centric employee experience to increase the accessibility, productivity and collaboration within the organization for all levels
- By employing the holistic approach to goal and performance management that provides flexibility
- By providing extensive solutions for the learning curve that deploys easy opportunities to get the necessary training and development plans fabricated to employees needs.
- By integrating embedded analytics into the system to promote the informed data-driven process of decision making
- By offering integration support in conjunction with E-business suite, PeopleSoft and other core HR systems
- By providing diversified deployment with SaaS (Software as a Service)
Hiring the top talent and nurturing them to achieve corporate success can be attained with the help of Talent Management Cloud. Fostered talent is then moved up in the hierarchy. It improves their skill sets to deliver the quality work, but at the same time, you need to increase in the remunerations for handling additional roles and responsibilities.
Therefore, it is crucial to address the career development requirements of the talented professionals. Along with this, a well-strategized communication system should be implemented to cover the gap between leaders and high performers to avoid the personal as well as professional issues. It enables the HR professionals to understand the needs of the talented employees and create policies to support them.
Talent Management Cloud helps you to focus on workforce planning and strategic insights to develop talent and stay ahead of the competition. 6etech.com provides you with with the successful implementation of Talent Management Cloud.
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