MANAGING in the

NEW WORLD

High performers in any organization are difficult to get and thus those who perform well but quit after a period are particularly regrettable losses for several organizations. It is extremely important to keep track of these people so that someday they may rejoin. Part of that process involves a detailed exit interview which will include a pointer on whether they would like to rejoin. Studies have indicated that several people go through period of profile shifts when they may leave. Also, a number of women leave their full-time jobs to focus on family during childbirth and care. As part of talent management, organizations must make sure these high performers are communicated that they will be welcome at future occasions.

While technology is playing an increasing role in the art of talent management, a feeling exists that perhaps there is too much of it. Certain signs exist which clearly prove this trend to be scarily true. In such cases, project managers exist for each system. New implementations are always round the corner and employees aren’t too pleased about them. Communications get lost. Most importantly mergers and acquisitions create the harassment of duplicate systems. In order to avoid all this, only high level activities and interactions must be technology aided. On the job capabilities for top talent must be activated to facilitate smooth integration of technology to work processes.

Global giant Deloitte has identified certain technology trends which in the year 2016 will disrupt human resources management. Technology is set to revolutionize employee engagement techniques. The smartphone has emerged as a platform to conduct HR operations. Talent management is now being conducted by ERP vendors. A number of HR processes are now being outsourced to firms which use Cloud based technology. In spite of this extensive use of Cloud computing, demand for technology services has not reduced. The concepts such as employee feedback and corporate culture have gained importance. The influx of real time data has facilitated the alignment of performance management with market feedback. Startups are innovating their corporate training programmes by integrating learning for their handful of employees from across disparate sources. 2016 will see further rise in the usage of predictive analytics. All these changes are set to expand employee engagement with the firm.

Staffing and talent management firm TEK-systems has conducted a study to understand the high rate of employee turnover in the IT industry. Fresh graduates have certain demands such as vacation time, work-life balance and continuing education. Some organizations enable employees to go for executive MBA in order to facilitate their learning. Some firms even have provision for employees to buy shares of the company, but limitations occur when seniors themselves aren’t aware of exact stipulations. Compensation is a major concern for many. At the end of the day though, it was understood by the researchers that whatever a firm does, some people will leave in any case.

A number of firms these days are grappling with best ways to keep their employees engaged and that is what IDEO has perfected. IDEO believes that keeping employees involved and happy is an integral part of talent management. The mission statement is eased out in such a way for all to comprehend. A culture of business innovation is wedded in where everyone needs to participate in the same. Also this creativity is more of a bottom-up approach enabling innovation to come from different verticals within the firm. Finally, a sense of social collaboration has been inculcated across the organization.

There are certain business practices which go particularly well with the generation of new recruits to most organizations now termed collectively as ‘millennials’. These practices will ensure the firm proves to be a success in the art of talent management. The products or services churned out by the firm must have an element of business innovation and be relevant to existing needs. A bit of controversy to spice things up is what attracts youngsters. However, they do value authenticity in the product and a genuine purpose to provide top service. Millennials pride themselves of being different from the crowd as well as dynamic in approach. Finally, what really motivates them is when they feel the final product has something they can associate with.

Nonprofits can’t keep ignoring Talent Development

While on the surface, non-profit organizations appear to be totally different, yet a number of challenges they face are similar to those of for-profit organizations. Talent management is clearly one of them as evidenced by the high turnover ratio. Business research conducted by the Bridgespan Group shows that less than a third of the C-Suite positions at such firms were filled by internal hires. Onboarding of new recruits requires on average, twice the amount of time as existing employees do. Low compensation and lack of professional development opportunities have commonly been cited as reasons for executives leaving these firms. Donors Choose is one such not-for-profit firm which has defied the odds, and ensured employee stability and this is something the industry has to ensure.  

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