The Rise of the Knowledge Worker
Who is a Knowledge Worker ? A knowledge worker is one who uses knowledge as the capital for work and who uses brain power rather than brawn power to get the job done. In other words, knowledge workers “think for a living”. A knowledge worker is also one who uses creative thinking, out of the […]
Importance of Human Capital Management
Why is human capital management important in organizations ? Who do you think are the most valuable resource in an organization ? Employees. Individuals who spend maximum part of their day contributing towards the success of an organization are its most crucial resource. Employees can either make or break an organization, truly making them an […]
Knowledge Management in the Age of Information Overload
The Evolution of Knowledge Management Knowledge Management as a separate stream of business and as an organizational function and practice emerged with the advent of the Information Age with its reliance on knowledge as power. Indeed, while the Industrial Era did have some connection to accumulating, preserving, and share knowledge, it was only with the […]
Using Social Media for Employer Brand Promotion and Talent Attraction
Until a few years ago, most talent acquisition experts had declared social media as not-so useful for promoting their employer brand and attracting talent. They continued to deploy more traditional channels to create and widen the talent pool for their organizations. And they also kept whining about the increasing talent gap. While social media has […]
Time Management Tips at Workplace
Time management is one of the most essential skills contributing to the success of an employee as well as organization. An employee needs to manage his/her time well to complete assignments within the stipulated time frame and deliver results on time. Employees often complain of not being able to spend quality time with family members […]
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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