The approach towards boosting business operations have been drastically influenced by the developments in technology, revamp in the organizational structure and varying employee demands. So has the talent management plan been modernized to meet the increasing industry demand? If not, then now is the time to embrace the changes to effectively implement new talent management strategies.
Have you ever taken the time to rethink your talent management strategies? Does the current strategy plan reflect the possibility to attract talent from the novel generation (Gen Z)?
Just take a moment to recall the transformation of your organization over the past decade. Has your company adapted to the new technologies including cloud computing, big data or smart applications? How has the staffing changed? Has there been any disruption in the managerial structure or hierarchy? Have the customer’s priorities and demands increased?
While you sit down to analyze the answers, just relate them to your present talent management solutions; the answers to all the questions lead you to the ultimate answer as to how effective your talent management system is.
As the demographical structure of an organization changes and new innovations are deployed, the need for suitable skills raises, resulting in a hyper-competitive job market where there are very few individuals who are equipped to engage in advanced technology. This puts HR in a spot where they face challenges with recruitment and training.
The transition from Gen Y to Gen Z is striking a massive revolution with respect to the demands and the needs employees put forward to an organization. The stage where remuneration and benefits could gratify employees has become passé (of course compensation packages still remains a major criterion). There are other aspects too that grab the attention of employees; they expect equal involvement from the HR team and the organization, like providing a better scope for personal development, a challenging work environment, flexibility to take up new roles and responsibilities etc.
The realm of employment is evolving quickly; what is in today is out tomorrow. The prerequisites for a job profile or support employee’s demand is rapidly transforming with respect to many external factors. With so many modifications going on, is your current talent management solution enough to face the growing industry demands?
If not, then now is the time to restructure and rethink your talent management strategies.
So how can you ensure your systems are up to date and how can you change your talent management practices to efficiently engage your employees?
Well, we have put together four differentiating factors that can surely contribute to improving your current practices. They are:
• Creating brand awareness
The first impression is always the best impression. The way you display your organization as a brand or the way you promote your service/ product must instantly grab the attention of your potential hire. Companies need to start interacting with the student groups through campus programs or symposiums. They need to establish their social presence through online blogs and discussion groups to exchange knowledge and emphasize their expertise in the domain.
• Prioritizing talent analytics
One such field where HR still needs to catch up is analytics. Many top companies nowadays are leveraging their capabilities and investing time and technology towards absorbing advanced analytics. Through HR analytics a higher percentage of process automation and employee self-service can be achieved. From monitoring performance, recording productivity metrics, viewing targets, comparing data records and devising appropriate development modules – analysis can improve the quality of the database and can enable standardized practices for talent management across the organization.
• Know your talent
Before you can venture out into the vast pool of candidates for your job requirement, evaluate your current talent and their capabilities. Finding the right talent is one part, but retaining them is important too. With the demand for internal placements and job mobility increasing, employers can save a lot of time and effort in recruitment by locating potential candidates within the various departments of their organization. This makes hiring easy and the worry for retention lower.
• Engaged learning
E-learning is something that has been highly talked about over the years. From multi-national corporates to start-ups; most of the companies today are looking at employee engagement through interactive courses and training sessions. Constant monitoring and motivation of employees reassure them of their trust towards the organization. Companies can also provide a platform for employees to stay up to date, ensuring personal and professional growth. This affirms the organization that employees are happy and can contribute significantly to the commercial value and productivity of the company.
Most solutions around innovative talent management incorporate the above and many other advanced strategy plans to improve the quality of employee experience. The objective behind any talent management strategy plan is to recruit, train, develop and retain key resources. At Zalaris, we bear this in mind and aim to maximize your ability to efficiently communicate, distribute and follow up on corporate goals. We identify potentials skills in talent and enhance employee management by developing short- and long-term strategic plans that monitor progress and cater to critical human capital issues.