Twitter
Advertisement

Finding and polishing a hidden gem

Most companies are adopting latest research in management and psychology to manage talent

Latest News
article-main
FacebookTwitterWhatsappLinkedin

Over the decade talent management has evolved in to a more strategic, and data-driven process of the HR field.

Talent Management refers to HR manager’s ability to identify and develop the complete potential of the employees, increase engagement and encourage productivity in order to reach the organisation’s goals. The initial movement of talent management hiring took place between 2005 – 2015 as companies begin this new vertical in HR.

Sukhdeep Aurora, chief people officer - ANAROCK Property Consultants, says “Talent management is a step above human resource management, in the sense that resources are hired and talent is groomed. Talent management includes identifying high-potential employees and helping them grow into their areas of expertise. Effective talent management is critical in terms of employee motivation, attracting the best talent, and ensuring that the most critical roles within the firm are occupied by the best people for the job. When a company conveys to its employees that it has a well-rounded talent management program in place, it can expect to see improved performance among more engaged employees, which ultimately leads to higher client satisfaction even as it helps retain the best people.”

In 2017, Pizza Hut created a new employee value proposition (EVP), it developed a bold, visually driven approach called “Life Unboxed” that reflects its culture and highlights its benefits to employees. Corporate launched its strategy not as a program but as a mindset. Franchise rallies and a “30 cities in 30 days” tour promoted the new EVP and showed Pizza Hut as a place where employees “become their best,” “make friends,” and “have fun.” Pizza Hut earned a Gold Award for Best EVP in the 2017 Brandon Hall Group HCM Excellence Awards.

A talent management strategy is the second most important strategy in an organisation after a business strategy. Research shows a clear connection between performance management processes and successful results for the organisation as most organisations have started adopting processes that incorporate the latest research in management and psychology. Google, Sysco and Best Buy have already understood exactly how to ensure the highest productivity, employee engagement, retention of top talent and then replicating the successes.

The model below helps explain talent management elaborately:

When Google was adding 100 employees a week, from 2005 to 2008, hiring the right people was its primary focus. When hiring slowed in 2008 and 2009, the company turned to gaining insights into employee attrition and effective management approaches.

“Acquiring, retaining and developing the right talent requires a clear understanding of the business objectives given the dynamic market. Today, young professionals are certain of their career plan in the organisation and this puts forward a challenge to the human resource team in devising strong employee growth plans. We believe that enhanced talent management strategy that includes employee engagement programs coupled with the advent of technology will help build a great talent pool in the organisation,” said Ashok Mohanty – head - HR and talent management, Tata Housing.

Retention is one of the most critical elements in talent management which in today’s dynamic business world, has become a major challenge. The HR manager needs to ensure that with the changing expectations of the employees, the processes are also changing at an equal pace. Hence, there is a need to consistently improve the current practices which makes the HR manager’s job difficult but interesting. Increasing the focus on flexible workplaces, dynamic roles, doing meaningful work etc. will help the HR manager in making the processes more dynamic and sustainable at the same time. In order to do that the tools that need to be a part of talent management are - open communication channels, flexibility, job mobility, and mentoring high potential employees.

TALENT HUNT

  • A talent management strategy is the second most important strategy in an organisation after a business strategy
     
  • Studies prove successful results and performance management processes are linked

The writer is manager - Human Resources, SILA

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement