How,can,talent,management,keep business, insurance How can talent management keep up with the evolving workforc
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Most of the organizations today are caught up somewhere in between delivering employee-centric talent management strategies (in contemporary terms addressed as people management) and traditional talent management systems (that just streamlines HR administration). This intermediate phase is where most HR teams struggle to transform and reckon best-fit talent management practices for its human capital and the organization.But on the contrary, the present-day workforce is nothing like what it was a decade ago. There has been no sign of any hindrance that could disrupt the process of evolution. Over the years, the innovation in technology, economic growth and cultural development has created a blend of different minded people who display quite distinct ethical and professional behavior.This transformation demands talent management teams to quickly follow through to keep up with the evolution. And to fulfil this need, talent management strategies must be focused towards,Prioritizing employee engagement:The workforce that exists today is very diverse in what they expect, be it in terms of their career or disposition. Given how strong-minded they are, engaging and absorbing them effectively will be a very challenging task for talent management teams. The workforce is a heterogeneous mix of baby boomers, millennials and Gen Z. Right from the way they perceive information to the way they execute assignments, each individual has his or her own style and uniqueness. Offering personalized employee experiences, in terms of learning and development, opportunities and mobility can help HR teams keep up with the demanding needs of the hybrid generations.Creating a sustainable cultural environment:Apart from the skill sets required for a technical job, employees and even managers consider cultural fit to be very important while hiring a new recruit. The “evolving workforce survey” conducted by Deloitte has analyzed that nearly half of the survey respondents considered cultural fit a major criterion while shortlisting a suitable job.A culture-driven company always puts its employees first. Likewise, talent acquisition teams must also consider candidate involvement and experience, apart from capability and skill, while shortlisting candidates. A culturally fit employee can be a front-runner in the leadership pipeline.Tackling retention and shortfall of talent:Employers must prioritizing retention over recruitment. Fetching the right candidate in a hyper-competitive job market is like fishing in the open sea. It becomes essential to retain and engage existing resources and convert them into valuable assets prior to looking outside the organization for suitable replacements.The novel generations seek more than just benefits and compensations, they are very much career focused and are hasty to switch jobs if not satisfied. keeping in mind the mobile nature of employees, shortfall in talent must be bridged by providing employees with the flexibility to transfer internally. This can be a mega saving for HR and talent management teams, and can provide better opportunities for employees to expand their capabilities and skills.Generating new opportunities:The fast-paced world that exists today has made almost everything in the realm of mankind easily accessibility. Mobile applications and the world wide web has reached even the most remote places. People use social media to interact and find new opportunities. Creating a visibility in this vast territory of the internet becomes a game changer when businesses want to generate better value for its workforce. Organizations must focus on increasing its brand identity across different platforms to effectively communicate its vision and mission statements.To stay ahead in the hyper-competitive market, attract top talent and create new opportunities for existing talent, a good reputation of the company must be established. This can be achieved through interacting with people, listening to their opinions and implementing effective marketing strategies to deliver customized and memorable user experiences. Talent management must drive strategies to engage and empower its employees. Progress in business processes is one part, but providing value to the workforce and delivering people-centric work ethos is key to motivate and retain the best talent.
How,can,talent,management,keep