• Wednesday, 4 January 2017

    Talent Retention is a rapidly evolving function in the corporate World

    Talent Retention is a rapidly evolving function in the corporate world today, even as every organization strives to move ahead of others in their quest for organizational excellence. And with new technologies and systems dealing with employee management and strategic people management, it has become all the more important for HR managers and executives to be updates about the latest news and trends in the world of talent management.

    Here’s a look at some of the new and emerging practices in the world of talent management that are being increasingly and rapidly adopted by leading innovative companies across the world:
    b: Almost every tech savvy individual in today’s world is connected to the Internet, and to each other either from their laptops or from their smartphones. This is more so in the case of technological hiring, where the talent management of the modern tech startup is increasingly tapping into online communities and interest groups to source future leaders and individual experts in different technology platforms. The world of talent management brings such new dimensions and perspectives on many different aspects of talent acquisition in the modern age.

    People Analytics: People Analytics are a very important component in the world of talent management in the current decade. With more than 60% of large corporations relying on some or the other form of technology to manage internal human resources, the analysis of the data thus gathered is a rich source of information for improvement of different metrics and areas where Talent Management can make a difference, like time to hire, cost of retention, employee sentiment and even employee flight risk. As people analytics becomes more and more integrated into the overall Talent Management functions of an organization, it is increasingly becoming evident that Talent Management will bring into effect a revolution in the world of traditional HR methods and practices, with employee retention, of course, being one of their vital components. 

    Cloud Based HCM: Gone are the days of punching in at work with a time card. Organizations today are looking at offering workplace flexibility like never before. This is only the beginning, if experts in the world of Talent Management are to be believed. Cloud based HCM systems, or human resources management modules of ERPs, are now mobile enables, allowing employees to check in at work using their smartphones, business owners paying their employees digitally or even the project managers of large corporations managing entire teams remotely. This is going to be adapted faster and at a higher rate in the near future as well, with many of these technologies becoming cheaper and more accessible by companies of all sizes. Yet another factor that will help in talent retention in an organization.

    Personalized Learning and Development- Personalized learning and development is a direct result of big data analytics technologies. With technological innovations, performance of employees is being measured with a far higher degree of precision than before. This has also directly led to remedial measured being customized to an employee’s needs to enhance their performance in the organization. 

    These are just some of the newest and most innovative ways in which talent management is redefining traditional HR. There are lots more to come, for sure.

    1 comment:

    1. Great explanation! thank you for the information! I quite rarely see blogs and forums since most of options are a big time waste. Although this post is completely opposite. Carry on the great job.