Opportunity Canvas Analysis and Why it is Important to Entrepreneurs ?
The Opportunity Canvas Analysis is a Framework or a Model for Entrepreneurs created by the famous management expert and bestselling author, James Green. In his book by the same name, Green describes how entrepreneurs can anticipate market demand for a new product, determine the market conditions and the industry characteristics, and then motivate themselves to […]
Myths about Talent Management
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 […]
A Basic Understanding of Participative Management
Participative Management refers to as an open form of management where employees are actively involved in organization’s decision making process. The concept is applied by the managers who understand the importance to human intellect and seek a strong relationship with their employees. They understand that the employees are the facilitators who deal directly with the […]
Role of Communication in Increasing Work Efficiency
Communication plays an essential role in increasing efficiency of employees. Employees need to interact with each other more often to break the ice and feel comfortable at the workplace. Problems arise when information does not flow in its desired form. Effective communication facilitates free flow of information among employees and reduces misunderstandings and confusions. Effective […]
What is Human Resource Planning?
Human Resource Planning (HRP) is the process of forecasting the future human resource requirements of the organization and determining as to how the existing human resource capacity of the organization can be utilized to fulfill these requirements. It, thus, focuses on the basic economic concept of demand and supply in context to the human resource […]
Organizations nowadays are becoming employee centric. Employees are asked to or assigned projects that pertain to their skills and abilities and what they are best at. To put it other words, jobs are designed around people now and not vice versa.
They is an ever increasing emphasis on developing training and development strategies in organizations. When such a strategy is developed and put in place, it is then called a talent marketplace. The purpose is to align people skills and extensive knowledge with the task at hand.
American Express and IBM are two very good examples of organizations that implement a talent marketplace strategy. The most productive employees are allowed to choose projects and assignments that are most suitable to their area of expertise.
Not many companies like the ones above mentioned are able to harness people skills in an effective way. Organizations in the name of talent management pay far more attention to searching for and recruiting people from outside. Little emphasis is laid on locating talent within. Even the work experience for such people is not enriching that helps them to feed and develop their expertise. This is in fact how most organization loose talent to rival organizations.
In the current business scenario it’s your intangible assets like people skills, people perceptions or reputation and relationships that count more than your tangible assets like the plant the machinery. More than anything else talent mobilization helps you unleash the power of people you have onboard. Providing them more opportunities to grow themselves and find work and skills that help them realize their potential counts far more than simply engaging them in repetitive jobs.
Talent deployment is another factor that needs to be taken care of well. Organizations have to be flexible in talent deployment across the length and breadth of their structure. Value creating initiatives need to be developed on a war footing in any organization if it wants to survive in the long run and therefore the need to developing talent.
In talent marketplace it is the internal talent mobilization that is the keyword. By mobilizing talent internally, organizations are offering freedom to their managers to use talent from across the length and breadth of organization for success. This also acts to increase the ownership of employees towards their work and get work done more effectively.
Hindrances to Talent Marketplace: Typically most organizations are structured such that managers find it difficult to locate a single individual from among a company’s talented workers for a single job.
The reason - companies are not prepared or flexible enough to accommodate anything that is new and seeks time. Again most of the companies spend lots of resources improving the quality of line staff. They are better off spending resources developing people for moving up the line management ladder. Formal job-rotation and career development policies are given precedence and the same organization gets stuck when a situation demands a cross job rotation.
The ‘push resources’ strategy of the conventional models may not survive long enough considering the inefficiencies involved. ‘Pull talent and knowledge’ on the other hand is gaining more weight in an era where uncertainty in business looms large.
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