Corporate Corruption and the HRM Function: Legal, Ethical, and Moral Perspectives
February 12, 2025
Managers commit mistakes while evaluating employees and their performance. Biases and judgment errors of various kinds may spoil the performance appraisal process. Bias here refers to inaccurate distortion of a measurement. These are: First Impression (primacy effect): Raters form an overall impression about the ratee on the basis of some particluar characteristics of the ratee […]
Different Aspects of Talent Management Not all of us are born geniuses or are child prodigies. Just as not all sportspersons are not Michael Schumacher or all entrepreneurs are Bill Gates or the Late Steve Jobs, many of us have some innate talents that need to be catalyzed by nurturing, enabling, and empowering thereby making […]
Changing Nature of Work and the Trends in Employment The world of work is changing. Part Time and Freelance employment has grown whereas stable and secure jobs that last an employee’s lifetime in one organization are scarce. If the Baby Boomers were expected to work all their lives in at most two or three jobs, […]
Employee development refers to initiatives taken by organizations to constantly enhance their employees’ skills and upgrade their existing knowledge with time. Employee development activities and trainings make an individual self dependent and prepare him/her for unforeseen circumstances. Employees as a result of trainings can deliver their level best and contribute more effectively towards the organization. […]
Everything in life comes with some positives and some negatives. Every coin has two sides and the same logic applies to employee multitasking as well. Employee multitasking has both pros as well as cons. Let us go through the shortcomings of employee multitasking: Employees who are responsible for many things at workplace are generally overburdened […]
The previous articles discussed how successful companies develop and nurture leaders and groom them for higher roles as their career progresses. The role of the HRM function is critical, as there needs to be excellence all around and not just in one area.
In other words, it is not enough if a company has a brand image in the market that attracts top quality talent but is not doing well once this talent starts working in the company.
Take for instance, the Indian IT behemoth, Infosys. Though working there is a dream come true for many graduates, in recent months, the company has been hit with astounding attrition, as the company is not doing well in terms of retaining and nurturing talent. On the other hand, companies like Microsoft, Google, and Apple not only attract the best talent in the market but also manage them well leading to their practices becoming a model for other companies to follow.
This article analyzes the best talent management practices of successful companies and the role of the HRM function in nurturing and grooming talent.
The first aspect for global companies is to not be parochial in their hiring practices and instead, welcome diversity by recruiting international talent, employees from different backgrounds, and in general diversify the employee base.
Next, is the identification and grooming of high potentials that would give the organization a pool of leaders from which they can draw upon when faced with a situation where leaders are needed. Though this is a practice that is followed in many companies, the successful companies also identify emerging leaders and not only those who have established themselves.
The point here is that successful talent management needs the HRM staff and the senior management to draw up a list of potential leaders at both ends of the talent development chain.
In other words, these companies start from the lower levels and go on till the middle and senior management levels.
The third aspect of successful talent management is the provision of both vertical and horizontal job opportunities for the existing employees. This means that the employees are provided with a menu of career options that would enable them to shift role and find fulfillment in the role of their choice. The reason why this aspect is very important is that often many companies stifle their employees by not providing change of job functions or roles leading to widespread dissatisfaction among the employees.
The fourth aspect of successful talent management is that these companies provide their employees with a change of work location where the reason for such a move is not to simply move talent to locations where there are shortfalls but also the need for the employee’s personal development is taken into consideration.
The point here is that successful talent management requires that employees feel privileged working for the company and their needs for self-actualization and fulfillment be taken care of by the company.
Indeed, successful companies often have people first policies where the focus is on creating a stimulated and fast-paced environment that encourages and fosters individual growth and the work environment is much more engaging than a workplace that is solely concerned with profits.
Finally, successful companies often have lower attrition rates even if their compensation practices match the industry standard but are not higher than other companies.
In other words, as mentioned in the introductory paragraph, successful talent management requires all around excellence in the realms of leadership development, talent management, and performance management. While the first two topics have been covered, the performance management in successful companies would be covered in the next article.
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