The Rise of the Knowledge Worker
Who is a Knowledge Worker ? A knowledge worker is one who uses knowledge as the capital for work and who uses brain power rather than brawn power to get the job done. In other words, knowledge workers “think for a living”. A knowledge worker is also one who uses creative thinking, out of the […]
Entrpreneurial Ecosystem
What is an Entrepreneurial Ecosystem? All of us are endowed with skills, abilities, and capabilities. However, the reason why some of us are so successful whereas others languish is mainly due to the way in which these traits are nurtured, encouraged, and enabled. For instance, we need to go to the right schools, have supportive […]
Characteristics of Engaged Workforce
The level of employee engagement can be measured by the willingness and ability of employees to contribute to the success of their organisation. It is their discretionary effort which is an essential element for the good health and well being of a company. A highly engaged workforce shows the high level of engagement in their […]
Job Analysis Process
Where to place the employees in order to best utilize their skills and talent? How to determine the need of new employees in the organization? How to eliminate unneeded jobs? How to set realistic performance measurement standards? How to identify the jobs and prepare a plan to fill them? Well, all this can be effectively […]
Why is Everyone Talking About Artificial Intelligence Suddenly and How it Matters to All of Us?
Understanding the Sudden Interest in Artificial Intelligence by Explaining the Impact on Us Unless you were on another planet and just returned to Earth or you were in a cave, shut off from the world, you wouldn’t have missed the “sudden” explosion in interest around Artificial Intelligence. Right from serious editorials to comical takes on […]
The current economic conditions demand a cut in the expenses. Unfortunately enough for talent management though organizations and leadership is all praise for it on papers, the same is neglected as seen as a cost center when it comes to implementation.
In wake of the economic recession human resource professionals are under huge pressure to cut costs. Logically this is best time to validate the importance of talent management.
Hiring and compensating the best talent in the industry optimally and ensuring performance at the same time. The question that remains is ‘what exactly is the relevance in the current economic conditions’? Before trying to answer lets ponder on certain key issues.
All this has opened up avenues for HR professionals for vindicating their stand on talent management and once organizations understand that they need an integrated approach to talent management, the involvement of a top executive is important for driving success.
The top executive who now heads the talent management function is responsible for activities like succession planning, leadership development, career development, performance management, learning and development, recruitment etc. Having said this we again arrive upon the question of relevance.
Developing Leadership Pool: Succession planning and leadership development are two issues that have felt a sense of urgency after the recent economic downturn. Organizations have been seeking leadership positions to rescue them out of crisis.
Performance Management: After succession planning and leadership development, performance management comes next on the list. Without a thorough and standard way to measure performance it is not possible to promote right people to right positions and motivate them to perform for organizational growth and development.
Recruitment assumes significance: Recruitment becomes strategic so to say. Recruitment practices determine organizational effectiveness. In a tight labor market it a daunting task to attract the brightest talent towards your organization and then getting them onboard.
Internet has become an important source of external recruiting. Systems and standards have been laid down for the same. Here building an employer brand is important. Those who do, get right people onboard.
Skill based Manpower Planning: Manpower planning is a strategic HR process these days. Instead of a mere headcount based hiring; manpower planning now extends to the locating critical skills, roles and responsibilities and then ascertaining current and future talent needs for those roles.
These are vital processes that optimize the performance of the human capital management. What is required is to ensure that they are consistent in order to ascertain they meet the business objectives.
Talent management is in its nascent stage, there are still more processes that will be added in due course of time as organizations opt for more initiatives in the direction.
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