Talent management is the assured business strategy that will ensure the attraction of top talent in competition with other employers.
'Talent Management’ is a concept of great significance in the Human Resource industry. This is the time wherein companies are aware of the HR functions and its vital role in business strategy and execution. The term 'talent management' is becoming popular as organisations that have adhered to this process have been recognised for their working pattern in the recent years. Today, organisations are no longer lagging behind in visualizing employee talent and knowledge, and, a significant intellectual asset can be obtained from every employee to enhance productivity. In short, talent management is the assured business strategy that will ensure the attraction of top talent in competition with other employers.
Fundamentally, the process utilises both integral perceptions and individual capabilities and information to help them adapt into a tool for gaining competitive advantage. It is vital to realize that organisations consist of people who add value through proven business processes, innovation, customer service, sales, and many other important activities. As an organisation endeavours to meet its business goals, it must make sure that there is a constant and a cohesive process in place to retain productive and engaging employees and focus on their key strengths. Talent management actually prevents such employees from being under-utilized who can otherwise be put to additional use whenever required.
While there is no dearth of professionals, there is an acute shortage of able professionals worldwide. Management professionals and graduates from various B-Schools are available in large numbers across the globe, but, it is noteworthy to see how many such professionals are genuinely employable. Hence, the shift from an ad hoc to a strategic talent management programme can greatly aid a company in achieving its business objectives.
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Continuous Learning For Growth
Of late, for organizations particularly in the service sector, people have become the strategy. And, if that is the case, the Learning and Development (L&D) department in organizations, and the industry in general, is likely to witness significant growth in 2017 and the years thereafter.
Creating Open Spaces And Minds
As the boundaries of life between work and home continue to blur, employers and employees are sitting up and are noticing the ways and means to offer and avail a worthwhile experience at the workplace.
Striking The Right Balance
In 2017, an employee in the HR Department of a leading global company received an excel sheet attachment in his official mail. While the content seemed harmless, it was in fact a well disguised Ransomware attack which had in fact placed several companies worldwide in the dock. Ransomware attacks targeting HR departments across the globe have since been in vogue since they possess valuable employee data which can be used to commit crimes such as tax frauds and the like.
The Multifaceted Advantages Of AI
AI can speed and automate data collection, make fundamental observations, systemize HR issues, and differentiate customer and employee profiles. But, corrective measures and final decisions can only be approved by people who can understand how to leverage AI tools to acquire accurate information sans the noise and interpret them the right way.
Engagement Surveys: A Means Or An End?
Surveys are not merely a way to check the pulse of the organisation; they should ideally be used as vehicles to improve the organisation culture, people practices and employee experiences which gradually translate into business success.
What Is And What Needs!
The idea of the best fit works only in a perfect universe. In reality, what talent specialists and hiring managers should focus on is getting the close fitment. They should work with an approach that bridges the gap between what is (available) and what needs to be (done).
A Matter Of Strategic Timing!
The term 'work-life balance' has become a popular chant for all working professionals today. A world of different opinions continue to pervade our lives, with one actually affirming that there truly is no direct relationship between the parallel worlds we live in.
Picture Out Of The Frame
A few months ago, Moon Jae-in, the President of South Korea, made an unusual announcement.
Analysis
It is paramount for a pharmaceutical company to meet the business requirement of regulatory compliance.
How Can They Fire Her?
It is a common phenomenon in the corporate landscape to misinterpret the inability to respond to a query by a Manager as a serious lapse which at times leads to termination of his/her services. As a fallout, not only do they risk losing out a person with superior managerial skills, they also dampen the spirit of the juniors in her department, leading to sinking morale and reduced engagement.
