Managing the Knowledge Workers
Description This article examines the shifts in the HR field with the emergence of the service sector where the employees use knowledge instead of physical labor to get the work done. The key points made in this article are that the HR field has to adapt and adjust to the changing trends and ensure that […]
The HRM Function and Its Role in Recessionary Times
The Case for the Importance of the HRM Function even in Recessionary Times In these recessionary times, it is tempting for the companies to cut the budgets of the HRM function and focus on cost control and trimming as a means of profitability. Further, with the squeeze on hiring by many companies, one of the […]
Increasing use of Contract Staff and Temp Workers in the Corporate World
Hiring Temps and Contract Staff Of late, a trend that has been noticeable in the corporate world pertains to the increasing use of contract staff and temporary workers or temps as part of the organization’s operations. The trend that started a couple of decades earlier has now accelerated into a phenomenon where nearly 25 to […]
Qualities in a Professional for Better Relationship with Co Workers
An individual must share a warm relationship with his fellow workers to remain happy and satisfied at work. Don’t fight with your colleagues and spoil the decorum of the office. You need people around to talk to, discuss several issues, evaluate the pros and cons of your ideas and finally come to a solution which […]
Objectives of Participative Management
Participative management acts as a force to motivate employees to meet specific organizational goals. The main idea behind this style of management is not only using physical capital but also making optimum utilization of intellectual and emotional human capital. This is the process of involving people in decision making process to ensure that everyone’s psychological […]
Talent management, beyond an iota of confusion, is critical to organizational success. It’s equally important for innovation, customer satisfaction, profitability and new product development of the organization. All go hand in hand. People are at the center of any organization. They are outside it as well as inside the same.
Unfortunately for talent management, not many organizations have realized the importance of it till date. They still consider it as an overhead, much of which may be attributed to the fact that it does not directly reflect in the balance sheet of the company. When we dwell into the reasons we find that somewhere those are the helm of affairs in HR fail to implement talent management in their organizations effectively. In addition many HR personnel either are themselves not convinced with the practice or lack the relevant skills to implement the same.
In such a scenario outsourcing is one way to look at solving the problem. The idea is that those who are best in the business will take care of the same. Talent management consulting organizations have people who are specialists in the department. After all it is very important to have a talent management strategy in place that is consistent, systematic and strategically focused. But there are pros and cons to outsourcing talent management. Let us analyze each of them.
Primarily organizations outsource their talent management because of underlying assumptions like - the management will be effective, efficient and result oriented, HR people will be spared of unnecessary engagement, employees can be focused in their respective domains and the like.
The following are some of the benefits or positive aspects of talent management
The negative views are based on the fact that since it’s the employee data and the employees themselves that the talent management consulting deals with, there is a potential risk of the information getting leaked. However the negative aspects of talent management consulting are summarized as follows:
Organizations world over have begun to realize the importance of talent management especially after the economic downturn. Outsourced or otherwise, it is crucial for any organization that wants not only to survive but also excel in their respective sphere. The decision is theirs!
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