Lowering the Education Costs in America
The cost of education in America is skyrocketing. It is for this reason that more American policymakers are looking at various options to reduce the costs. They are looking at different models which are being followed in other countries in the world. It is important to note that America is not the first country in […]
HRM Strategies for the Post Covid Era and the New Normal of Virtual Workplaces
Why HRM Needs a Paradigm Shift to Deal with the Challenges of the New Normal Like other functions in corporates in the present times, the Human Resources or the HR function too faces challenges adjusting to the New Normal brought on due to the Covid Pandemic. Right from supervising employees working from home, to ensuring […]
Special Training Programs
Most of training is either technical or behavioural in nature, but there are still other trainings that are neither. These fall under the ambit of special training programs and are conducted with an agenda of smoothening the work process within the organisation. Workforce diversity can be both positive and negative for the organisation. Positive in […]
Principles of Talent Management
There are no hard and fast rules for succeeding in execution of management practices, if you ask me. What may work wonders for one organization may ruin another one! For convenience sake however there are certain principles of Talent Management that one should follow or keep in mind. Principle 1 – Avoid Mismatch Costs In […]
Handling Employees After Performance Appraisals
Performance appraisal refers to the elaborate process of reviewing one’s performance and output over a certain period of time and not only give correct feedbacks but also acknowledge and appreciate the hard work. Appraisal letters cause a lot of anxiety and sometimes disappointment among employees. Individuals never create problems when they get a good salary […]
Talent management can be a discipline as big as the HR function itself or a small bunch of initiatives aimed at people and organization development.
Different organizations utilize talent management for their benefits. This is as per the size of the organization and their belief in the practice.
It could just include a simple interview of all employees conducted yearly, discussing their strengths and developmental needs. This could be utilized for mapping people against the future initiatives of the company and for succession planning.
There are more benefits that are wide ranged than the ones discussed above. The benefits are:
The skill or competency mapping allows you to take stock of skill inventories lying with the organization. This is especially important both from the perspective of the organization as well as the employee because the right person is deployed in the right position and employee productivity is increased. Also since there is a better alignment between an individual’s interests and his job profile the job satisfaction is increased.
The focus is now on charting employee retention programs and strategies to recruit, develop, retain and engage quality people. Employee growth in a career has to be taken care of, while succession planning is being performed those who are on the radar need to be kept in loop so that they know their performance is being rewarded.
Apart from this having a strong talent management culture also determines how organization rate their organizations as work places. In addition if employees are positive about the talent management practices of the organization, they are more likely to have confidence in the future of their organization. The resultant is a workforce that is more committed and engaged determined to outperform their competitors and ensure a leadership position in the market for their organization.
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