Top Five Reasons why Entrepreneurs Fail
Introduction Entrepreneurship is a tricky thing and unless, entrepreneurs are on top of the game all the time, the chances for failure are very high. Research has shown that not more than 10% of all new ventures go past the second year of their existence and that entrepreneurs often end up on the wrong side […]
How to Increase Employee Productivity by Building Learning Organizations
The Link between Organizational Learning and Productivity Learning organizations are productive organizations. When employees acquire knowledge, they learn to actualize efficient and productive ways of working. When they share the knowledge acquired thus, they tend to ensure that other employees are productive as well. When the entire team collaborates and works together, they leverage the […]
Summer Internships in Business Schools: How to Choose Them
The typical business school course is structured in such a manner that students get the chance to intern in companies during the break between the first and the second years. These summer internships provide valuable on the job experience though the typical duration of a summer internship is two or three months. The point here […]
Tips for Successful Job Rotation
Job rotation enables individuals to try their skills in other departments as well and gain from the expertise of their fellow workers. Not every individual is open to the idea of job rotation and feel it is just another waste of time. They are happy doing the same type of work for years as long […]
Unique Skill Set Model of Human Capital Management
Human capital management refers to development of human capital through regular trainings, skill development activities and retaining talented employees. An individual who strives hard for the maximum part of the day to accomplish the goals and objectives of an organization are its real assets. Machinery, capital, innovative ideas and office furniture do play an essential […]
Talent management, beyond an iota of confusion, is critical to organizational success. It’s equally important for innovation, customer satisfaction, profitability and new product development of the organization. All go hand in hand. People are at the center of any organization. They are outside it as well as inside the same.
Unfortunately for talent management, not many organizations have realized the importance of it till date. They still consider it as an overhead, much of which may be attributed to the fact that it does not directly reflect in the balance sheet of the company. When we dwell into the reasons we find that somewhere those are the helm of affairs in HR fail to implement talent management in their organizations effectively. In addition many HR personnel either are themselves not convinced with the practice or lack the relevant skills to implement the same.
In such a scenario outsourcing is one way to look at solving the problem. The idea is that those who are best in the business will take care of the same. Talent management consulting organizations have people who are specialists in the department. After all it is very important to have a talent management strategy in place that is consistent, systematic and strategically focused. But there are pros and cons to outsourcing talent management. Let us analyze each of them.
Primarily organizations outsource their talent management because of underlying assumptions like - the management will be effective, efficient and result oriented, HR people will be spared of unnecessary engagement, employees can be focused in their respective domains and the like.
The following are some of the benefits or positive aspects of talent management
The negative views are based on the fact that since it’s the employee data and the employees themselves that the talent management consulting deals with, there is a potential risk of the information getting leaked. However the negative aspects of talent management consulting are summarized as follows:
Organizations world over have begun to realize the importance of talent management especially after the economic downturn. Outsourced or otherwise, it is crucial for any organization that wants not only to survive but also excel in their respective sphere. The decision is theirs!
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