Talent and the company have a long standing on and off relationship which in social media terms could be only called “Complicated”. People are the heart of an organization and it is important to hire the “right” talent and keep them in sync with the firm’s business goals. So how do HR be the successful matchmaker between the right talent and the organization?
With the power of Talent Management
Talent Management is all about identifying, developing and retaining talent. Talent refers to employees who are highly productive, highly engaged and make relatively a higher value-add compared to others in the organization. Effective and efficient talent management processes are very much necessary as they have a direct impact on the revenue of the organization. Here are 10 ways to achieve talent management excellence in an organization.
- Good Employer Branding techniques
Before managing talent, it is important to attract talent. The company needs to brand itself well to job aspirants. The organization should be conducting road shows in universities, job fairs and through various media and position itself as a future-ready firm. The vacant positions in the organization should be advertised through a well-designed career website that is tablet and mobile compatible. Branding through social media is also very important to attract the right talent.
- Effective hiring methodologies
The hiring methodologies used by the recruitment team should be effective enough to filter and get the right kind of talent for the organization. Good assessment tools should be employed & benchmarking should be done while assessing job aspirants. It is important to get talent who fits perfectly into their roles as well as the culture of the organization.
- Effective Performance Management Process
With the advent of millennials, performance appraisal we know is evolving at a rapid pace. The generation next demands a process which is objective and a continuous one. The performance appraisal process should not only help us in evaluating the employees against appraisal objectives but also in assessing their potential. The performance appraisal process should help recognize the candidates who needs training to improve their skills, mentoring, and job rotation as well as reposition their job profile if required.
- Differentiated workforce strategy
Differentiated workforce strategy is about managing the employees in the organization like an investment portfolio. In an investment portfolio, people make different amounts of investments in different areas depending on the likely returns that the investments would give after assessing the risk associated with the same. In a similar manner, organization needs to spend relatively higher amount of resources (money, time, etc.) on employees who could contribute a relatively higher amount of value to the organization. Other factors also need to be considered while applying differentiated workforce strategy like the flight risk of the employee and the availability of employees with similar skills in the job market.
Mentoring is a very good talent management technique. It helps in employees garnering higher skills and move to the next level in the organization. Employees also feel a very good sense of belonging to the organization when they have experts and senior employees mentoring them and this would in turn help in employee retention
- Job Rotation, Enrichment and Enlargement
Monotony at the workplace is a malaise that is the bane of many organizations. Monotony leads to attrition of the talent and potential talent in the organization. The below techniques could help in talent management through skill development, breaking the monotony at the workplace and also retention of talent in the organization.
- Job Rotation: This method would help in addressing monotony as employees could take on different roles over a period of time. This technique would help employees in getting multi-skilled and also helps in skills not being restricted to certain silos in the organization.
- Job enrichment: This method is about letting employees take up roles and tasks of a higher complexity level. This helps in breaking the monotony at the workplace, makes work more challenging for employees. Job enrichment satisfies Maslow’s high level needs and also helps in preparing employees for the next higher role.
- Job enlargement: This method is about allocating tasks of a higher complexity level comparable to the current tasks. This gives the employee a sense of having more responsibility and growth. This technique helps in employees improve their time management and project management skills better. A combination of Job enrichment and Job enlargement is also a good talent management and employee development techniques
Training plays an important part in Talent Management as it helps in developing employee’s skills further. Training methodologies have undergone a lot of changes with many new methodologies having got introduced. Organizations are moving away from the traditional classroom based training to methods like job shadowing, mobile based learning, on the job learning, discussion forums, etc. Such kind of training methods save a lot of time, money and are much more effective in talent management than the earlier methods.
- Organizational connectedness
Most of the employees are disconnected from their company strategy and could not clearly state their role in the organization. Having high organizational connectedness is very important for effective talent management. The ways through which this could be achieved is by having objective goals which are linked to the overall strategy, vision and mission of the organization, transparent senior management and creating a sense of organizational pride by talking about how employee’s work is adding value to the customers and other stakeholders in the external world.
- Review of talent management processes
It is important to review whether the talent management processes are on track and are functioning in the desired manner to ensure their effectiveness. Proper performance assessment, skill assessment and monitoring the attrition in the organization would help in reviewing the talent management processes in the organization are on track.
- Embracing technology
Technology can play a major role in attracting & retaining the right talent. Your talent right now cannot be found when posting a job in a newspaper. Finding the right candidate means posting a job online, social media, blogging and getting referrals from engaged employees. Your next candidate could be anywhere, anytime and can be found with the vast resources of the Internet. Employers are replacing the traditional employee survey with real-time, ongoing pulse tools, feedback apps etc. People analytics is another major area that is taking off with technology providing employers with real-time data insights to make a better organization culture and business strategy.
Catering to the present & future talent management needs, Ramco HCM helps you plan your talent requirements, build a strong brand image to attract the very best, ensure that new hires are integrated quickly to maximize productivity, retain high performing talent, and facilitate continuous movement of talent to where they have the maximum impact within the organization.
We at Ramco ensure to provide the latest HR Technology such as Bots, AI, Employee Sentiment Analysis & more. Ramco Global Payroll covers 35+ countries on a single platform - Hong Kong, Philippines, Thailand, Indonesia, Singapore, Malaysia, Vietnam, India among others in APAC; all of GCC and Egypt, Nigeria, Ghana, Sudan, Republic of S. Africa, in Middle East-Africa; Australia, New Zealand. Interested to know more, write to us.