10 Predictions to Effectively Steer Your Talent Strategy
2015 is expected to be a turbulent year full of changes for the field of corporate talent strategy.
A recent report published by Bersin- entitled, “Predictions For 2015 : Redesigning the Organization for a Rapidly Changing World” – provides readers with crucial developments and insights into talent strategies.
This is a particularly useful report to help guide your human resources team through the changing economic scenarios of 2015.
Some of the important points that this report makes are as follows:
1. Culture, retention, commitment, and inclusion are now considered issues of utmost importance
A significant risk today’s businesses face is the low levels of interest and engagement of its employees. This year will allow managers access to new tools that will help them better gauge employee satisfaction and engagement.
Another important tip to companies is to understand their work culture and ethic well so that they can hire employees who fit into their culture easily.
2. Performance Management will undergo significant transformation
Over the years, greater responsibilities have been placed on managers and younger workers have started entering companies, putting larger emphasis on the importance of efficient performance management.
The report suggests that a good talent strategy involves monthly meetings, giving positive feedback instead of rankings and grades, providing employees with achievable goals, and making the process of performance management less tedious than it usually is.
3. Simplify the Workplace So your Employees are Not Overwhelmed
A few simple suggestions to keep your employees from stressing too much includes having smaller teams, creating open offices, ensuring flexible work spaces and hour, providing regular breaks and unlimited food.
4. Corporate Learning has Become Even More Important
With the increasing specialization of workforce skills, the importance of corporate learning has risen.
The report suggests creating a talent strategy, which focuses on a complete learning experience that includes culture, digital and technological learning, and introducing employees to peers and leaders.
5. Talent Acquisition Has to Undergo Significant Transformation
Hiring the right people is one of the most important concerns for an employer. Hiring managers require training that will help them identify potential employees.
Networking, marketing the company well, and exploring various professional groups and programs has become increasingly important.
In 2015, companies are advised to market themselves well and redesign their hiring process so that they can attract the right employees.
6. Companies Have to Prioritize Talent Mobility and Career Management
More and more employees are looking for an experience rather than simply a job or a career. In order to emphasize on talent mobility, employees and managers should be encouraged to apply for internal positions.
The report also suggests promoting employees based on their experience rather than expertise, and providing formal career coaching programs.
7. Create and Encourage a Global Leadership Pipeline
As the economy recovers, companies are advised to focus keenly on leadership at all levels. Managers should develop a sustainable leadership framework and ensure that leaders at all levels are responsible for employee satisfaction.
8. Invest in Talent Analytics and Workforce Planning
A large amount of money is spent on the workforce. It then only makes sense for companies to ensure that this money is spent effectively, with a good talent strategy in place.
The report encourages companies to build and bring together teams that focus on employee satisfaction, learning and leadership and create a holistic approach in evaluating the workforce.
9. Change Up Your HR Technology Plan, Cut Down on Core Vendors and Encourage Higher Value
As HR technology becomes more accessible, organizations should upgrade their HR systems in order to create one that focuses on employee and manager engagement.
A sound advice for 2015 is for companies to reduce their core vendors, but ensure that they have vendors that provide them with most of the core products, especially mobile apps and mobile HR applications.
10. Redesign the HR Team and Invest in HR Professional Development
The report indicates that the highest performing HR teams have several unique and effective strategies that drive them.
This includes reducing HR generalists, increasing HR business partners, create a well distributed network of expertise, investing in HR research, investing in HR technology and ensuring that the HR team is more business-oriented.
Global economic, demographic and technological changes are going to completely transform the nature of work. 2015, therefore, is going to be a turbulent year full of changes that will invariably impact the field of talent strategy.
While earlier we would talk about the ‘new world of work’, today we are forced to think about ‘the new world of life’. No more is our professional and personal life two separate entities.
The best talent strategies are therefore those that acknowledge the fact that an employee’s professional and personal life are firmly interconnected.