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Companies from across the spectrum, need better talent management and retention strategies for working parents. The reasons are obvious. To start off, this demographic is enormous, covering over fifty million people in the US alone. Their struggle now is more in meeting the household demands, that it was for the corresponding age group, in the previous decades. Working parenthood is no longer a women’s problem alone, as increasingly men are part of the parenting duties. So, they require greater flexibility and an improved work- life balance. For the junior or prospective employees, the treatment meted out to working parents, often acts as an indicator. So, the generation acts as a bellwether for future talent recruitment. The entire public dialogue is dominated by this talk. Not much is being done externally in the form of legislations to help working parents. Thus, companies will need to figure this out themselves. To ensure this happens, personal support ought to be extended to them. Solutions need to be devised leveraging all, and not merely the HR. Instead of merely the silver- bullet solutions, a comprehensive package ought to be created. The benefits to be poured out need to be communicated better, than what the competitors are doing.

Source:https://hbr.org/2019/02/your-company-needs-a-better-retention-plan-for-working-parents

Uploaded Date:20 February 2019

The right talent management strategy can go a long way in achieving organizational success. This is as per a study conducted by the McKinsey Global Survey. The returns to shareholders tend uniformly to be higher among such companies with the best of practices. Three practices have been identified that will set this right. To start off, the talent available within the firm needs to be allocated rapidly to their respective stations. This avoids any sense of confusion or ambiguity. The human resources department has to be actively involved in the overall employee experience, while at the firm. In this way, talent gets linked to value. And the last driver would be the assortment of strategic HR teams to oversee this development at different levels. The HR actively needs to be involved in the company strategy.

Source:https://www.mckinsey.com/business-functions/organization/our-insights/winning-with-your-talent-management-strategy

Uploaded Date:16 February 2019

A lot of team leaders tend to struggle at maintaining the balance between set high and low targets. While the former is good for setting the bar high, and further impress one’s superiors, the latter is seen as a talent management ploy, with employees seen happier. The thinking goes that with easier, more achievable targets, the team members feel welcome due to the lower levels of anxiety. However, the latter often does not work out. Research conducted using Amazon’s crowd sourced marketplace – Mechanical Turk- goes on to study that employees generally feel more motivated when the challenge to achieve is high. Improvement goals tend to bring out the better among employees, than ones merely to maintain the status quo.

Source:https://hbr.org/2018/11/why-you-should-stop-setting-easy-goals

Uploaded Date:16 February 2019

The lifespans of people across the world has increased substantially over the years. This is true for the most developed economies like the USA, the mid- tier ones like China or even the least- developed ones such as Rwanda in Africa. This has resulted in people having to work longer, to support the increased number of years post- retirement. Companies too will need to tweak their talent management policies to take advantage of this growing pool of people ready to work longer, but also requiring this assistance. For a lot of people in their 20s right now, they need to be prepared to work till quite late in their lives, plus maintain substantial savings.

Source:https://sloanreview.mit.edu/article/the-corporate-implications-of-longer-lives/

Uploaded Date:13 February 2019

One of the age- old incentives, companies offer their employees, while enticing them to work better, is of course cash benefits. However, several studies have confirmed, that there may be better ways to motive employees. One sure way is by benefits, which need to be communicated at the time of the talent recruitment process itself. Yes, cash can motivate employees more in certain kinds of work such as in manufacturing. Even while cash is doled out, a meaningful role ought to be attached to the same. Performance incentives must thus be reconsidered accordingly. The occasional thoughtful gifts would also bring much needed joy to the employees. Intangible perks such as the flexibility of time is always an advantage. Employees must further be encouraged to reward each other. The recognition to be given to employees must be made in public. At times, merely a thank you gesture would also suffice.

Source:https://hbswk.hbs.edu/item/forget-cash-here-are-better-ways-to-motivate-employees

Uploaded Date:06 February 2019

According to a study conducted by tech giant Oracle, professionals working in the human resources domain, are increasingly making use of analyticsfor their talent management and retention activities. They are also using the same for honing a pipeline of external as well as internal candidates. This is helping them get a pulse on which all employees could be likely to leave, when, and how to fill the void. A lot of surprising insights surface through this use of business analytics. The likes of AT&AT, UPS and Caesar’s Entertainmenthave already experienced the benefits. To make this endeavor successful however, companies need to make sure, that the same set of data is being used across all the functions within the firm.

Source:https://www.forbes.com/sites/oracle/2019/01/30/hr-pros-turn-to-analytics-to-attract-retain-top-talent/#272280b722f7

Uploaded Date:02 February 2019

Herb Kelleher, the Cofounder of Southwest Airlines passed away recently. He was an exemplary business leader, who guided his company to decades of success. Southwest Airlines miraculously did not go through a single year of loss, in an industry rife with cases of bankruptcy. One area he excelled in was talent management. He would constantly motivate his team by referring to their business as being for freedom. The company developed a high- energy culture during his tenure. His business innovations were also spot on. Long before the terms such as disruption or business transformation came in to vogue, he executed such transitions. The innovations were to do with the make of the plan, and methods to train the pilots likewise.

Source:https://hbr.org/2019/01/the-legacy-of-herb-kelleher-cofounder-of-southwest-airlines?utm_source=twitter&utm_medium=social&utm_campaign=hbr

Uploaded Date:22 January 2019

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