Current Trends in Talent Management
February 12, 2025
Who are the Millennials and What are their Characteristics? The Millennials or those born between 1985 and 2000 are entering the workforce in large numbers. This generation is perhaps the most unique in the history of modern world since they are the first to have come of age during the Digital Age. Having grown up […]
Job evaluation as evident from the word itself aims at evaluating the job and not the person. It is a process of evaluating and determining the value of the job for an organisation. The evaluation is always in relative and not absolute terms. The idea is evaluate a certain job against other jobs in the […]
Typically a career involves a growth path which takes an individual to a higher position in the organizational hierarchy over a certain period of time. It is called the career ladder or the career path. Most of the organisations map out various steps in the lifetime of an organisation in advance. This is done to […]
Getting a job in these recessionary times is difficult. More so, getting the dream job of yours in a coveted company is even more difficult. Hence, you need to not only hold the job once you get it but also ensure that your performance exceeds expectations of your manager and the organization. First, fresh graduates […]
Designing and Building a Total Rewards Management System The previous articles in this module discussed how rewards systems are developed in organizations and the various aspects that go into making the rewards system viable. The discussion so far was on the components and factors affecting the rewards system. It is now the turn to discuss […]
Without doubt talent management is a very useful concept for organizations but unfortunately many of them look upon the former as an overhead rather than a value creating process. This can be attributed to some flaws in the implementation and some myths among HR practitioners regarding the same.
In this write up we try to unravel some of those myths and solutions of the same.
Reality: Paying higher than rival firms may help to a certain extent in retaining your employees. It may also help you poach certain employees from your rivals but in the long run, money fails to motivate people. Money is a hygiene factor; its absence may be a de-motivating factor but presence surely cannot be motivating for long.
Solution: It is the day to day work, organizational culture and career progression that motivates people more on a daily basis. Analyze each employee on what motivates whom and try to align their career interests with their growth in the organization.
Reality: It is the attributes and the culture of the organization that is most likely to motivate people to work better and be happy with their jobs. Leadership and job empowerment are other factors that contribute to that happiness of employees.
Solution: Work on making the organization a better place in terms of enriching the culture, improving senior junior relationships and of course laying due emphasis on how the employees are being compensated.
Reality: There is no direct connection between levels of attrition and employee engagement. In fact employees who are engaged well are more productive and take ownership of their work. Since organizations about people, well engagement not only improves employee performance but also organizational or corporate performance. According to one recent research engaged employees perform 22 percent better, have lesser rates of absenteeism, and produce greater customer satisfactions.
Solution: Customize engagement strategy for each employee and show the connection between employees work commitment and organizational success. Improvise key drivers such as manager’s expertise and future career opportunities and development.
Reality: In absence of employee engagement the organizations stands at the risk of losing projects in hand. Continued absence of employee engagement may in fact de-motivate an employee to contribute his best.
Solution: Employee engagement is critically required to retain and polish talent that is essential for future growth and opportunities.
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