What is Social Entrepreneurship and Why the World Needs More Social Entrepreneurs
The Dominance of Neoliberal Ideas about Capitalist Businesses and Their Responsibility By definition, businesses exist to make profits and incorporate any residual concerns about social good as part of their normal profit seeking behavior. In other words, it is the case that businesses and their owners worldwide are concerned about social good as just being […]
Pre-requisites of Participative Management
Participative management can best be described as a style of decision making that ensures that involvement of stakeholders at all levels. This operates at three levels, Problem analysis, strategy formulation and final implementation of the solution. There are certain prerequisites to be met before participative management can be put to work. Participative management first of […]
Tips for Pursuing a Career in Human Resource Management
Choose the B-School Wisely For those of you wanting to pursue a career in human resource management or HRM, this article is intended to give some guidance and tips on how to succeed in the field. First, if you want to become an HR professional, choose your institute wisely. This means that when you want […]
Employee Rewards and Recognition
Ask yourself the importance of a chocolate or a muffin to motivate your child to finish his homework or clean his room. Same way, the rewards and recognition can prove to be extremely beneficial to keep your employees motivated to perform extraordinary, achieve the targets and stick to the organization. The power of employee recognition […]
What is Employee Relations ?
An organization can’t perform only with the help of chairs, tables, fans or other non living entities. It needs human beings who work together and perform to achieve the goals and objectives of the organization. The human beings working together towards a common goal at a common place (organization) are called employees. Infact the employees […]
The current economic conditions demand a cut in the expenses. Unfortunately enough for talent management though organizations and leadership is all praise for it on papers, the same is neglected as seen as a cost center when it comes to implementation.
In wake of the economic recession human resource professionals are under huge pressure to cut costs. Logically this is best time to validate the importance of talent management.
Hiring and compensating the best talent in the industry optimally and ensuring performance at the same time. The question that remains is ‘what exactly is the relevance in the current economic conditions’? Before trying to answer lets ponder on certain key issues.
All this has opened up avenues for HR professionals for vindicating their stand on talent management and once organizations understand that they need an integrated approach to talent management, the involvement of a top executive is important for driving success.
The top executive who now heads the talent management function is responsible for activities like succession planning, leadership development, career development, performance management, learning and development, recruitment etc. Having said this we again arrive upon the question of relevance.
Developing Leadership Pool: Succession planning and leadership development are two issues that have felt a sense of urgency after the recent economic downturn. Organizations have been seeking leadership positions to rescue them out of crisis.
Performance Management: After succession planning and leadership development, performance management comes next on the list. Without a thorough and standard way to measure performance it is not possible to promote right people to right positions and motivate them to perform for organizational growth and development.
Recruitment assumes significance: Recruitment becomes strategic so to say. Recruitment practices determine organizational effectiveness. In a tight labor market it a daunting task to attract the brightest talent towards your organization and then getting them onboard.
Internet has become an important source of external recruiting. Systems and standards have been laid down for the same. Here building an employer brand is important. Those who do, get right people onboard.
Skill based Manpower Planning: Manpower planning is a strategic HR process these days. Instead of a mere headcount based hiring; manpower planning now extends to the locating critical skills, roles and responsibilities and then ascertaining current and future talent needs for those roles.
These are vital processes that optimize the performance of the human capital management. What is required is to ensure that they are consistent in order to ascertain they meet the business objectives.
Talent management is in its nascent stage, there are still more processes that will be added in due course of time as organizations opt for more initiatives in the direction.
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