Disadvantages of Job Rotation
Job rotation is a process which enables individuals to know and work beyond their domain and also gain from other team members’ expertise and knowledge. A multiskilled employee delivers more as compared to someone who works only for salary and hates to accept challenges in life. Like every other process, job rotation has also got […]
Purpose of Job Analysis
As discussed already, job analysis involves collecting and recording job-related data such as knowledge and skills required to perform a job, duties and responsibilities involved, education qualifications and experience required and physical and emotional characteristics required to perform a job in a desired manner. The main purposes of conducting a job analysis process is to […]
How Consultants can Handle Conflict of Interest in a Professional Manner
What is Conflict of Interest? Working professionals in any organization have to contend with the organizational policies on Conflict of Interest. The term Conflict of Interest refers to the divided loyalties of the individual where he or she is violating the policy whenever he or she undertakes a parallel activity that is detrimental to their […]
Types of Employees based on Level of Engagement
An organisation is a collection of individuals who come together and work towards the realisation of a common objective. Larger the number of people working together, larger is the size of the organisation and vice-versa. However, for an organisation to flourish it is important for the employees to operate at their full potential, which unfortunately […]
Entrepreneurs and Hot Money Flows and Investments
The Symbiotic Relationship between Financiers and Entrepreneurs Entrepreneurs need funding and venture capitalists and financiers need emerging businesses with great potential for investments. Therefore, there is a symbiotic relationship with entrepreneurs and the financiers wherein each need the other for mutual gain. While the entrepreneurs would use the capital invested by the financiers to grow […]
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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