Reinvent HR Practices for Better Talent Management

Ankur Tandon is a marketeer by Skill, Passion & Profession. Leads the team on content marketing & works like a lead catalyst in Marketing function. #GrowthHacking

Organizations are thriving today for better Human Resource practices to navigate smoothly on “new world of work”. A better talent management scenario demands a dramatic change in strategies for talent, leadership, and human resources.

Reinvent HR Practices for Better Talent Management
                               CareerBuilder-Reinvent HR Practices for Better Talent Management

Now a million dollar question is “what these new approaches are and how organizations should embrace them effectively?” The traditional postulations about talent management turned upside down with the advent of “new era of work”.

In a modern business scenario, the gap between HR skills and growing business requirements is becoming evidently wide. Hence, several organizations struggle to keep up. It makes essential for companies and recruitment leaders to identify the demands of modern business trends initially. Areas that needs the attention most to fill this trend management gap include –

  1. Learning and development
  2. Talent analytics
  3. Human Resource and business innovation
  4. Expansion needed on HR and data strategies
  5. Simplifying work environment
  6. Hire candidates with required skill sets only
  7. Performance management

In a broad spectrum, companies need to be innovative, engaging, reinventing and reimagining to overcome the challenges of talent management.

In the past, we have had strategies to focus on better talent acquisition and management. Now, times have changed; people and businesses focused more on smart and quality work. Therefore, HR policies also need a major upgrade to deal with this technology-driven environment.

HR perspective on Top Global Trends

  1. Leadership
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Recently published trend analysis reports indicate, Indian organizations experiencing a worrisome capability& skills gap. It is analyzed, companies in India fails to develop leaders at all levels. However, keeps on investing in accelerated new leadership models without reviewing its long-term benefits and current HR issues. When enquired, most CHROs admit not pursuing an active succession plan for all top positions.

  1. Learning and development

The area of learning and development is another challenge experience by HR leaders in Indian organizations. Instead focusing on snowballing skill gaps, organizations tends to explore new learning and development approaches.

  1. Performance management

The strategies formulated to achieve better performance management must be scrutinized periodically. Gradually but definitively, the traditional strategies must be replaced by innovative performance solutions.

  1. Culture and engagement

Today, organizations face looming crises in employee retention and engagement. Progressively, organizations identified the need to emphasis on work culture and improve employee engagement.

  1. Human Resource

Overall, HR policies related to talent acquisition and management, work environment, leadership and employee retention need a foremost reinvention. These periodic HR upgrades assist the organizations to deliver greater business impact.

Trends analysis – past and present

Every year organizations are embracing new technologies just to be one step ahead of their competitors and to deliver better product and services to their customers. However, in this progressive scenario recruitment leaders loose their focus on desired skill sets to fill the capability gap between technology and employee learning and development.

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In the past, there were enough handful HR practices to have had better talent acquisition, management, employee engagement and retention. This happens due to the fact, people in those time had limited career options that made them committed to one organization. Hence, HR managers do not see the significance of innovating their HR policies in those times.

Nowadays, organizations moving forward with technology advancements but unable to match their progressive thinking with required skill sets, i.e. inability to hire the right person for right job. Henceforth, a capability gap has widened at different HR levels.

Conclusion – A substantial progression observed in the area of learning and development and performance management in last few years. Now is the right time, when HR managers and recruitment leaders start focusing on gap analysis at different organizational levels. And then, start formulating innovative HR strategies to overcome these challenges in a better way.

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