An unparalleled approach to personnel hiring, human capital management is essential for enhancing an organization’s health and wealth as it aligns the goals of the workforce with the overall business objectives.
HCM advocates the fact that humans are a company’s biggest asset and hence, deserve the steepest amount of importance. It is obvious that if the most valuable asset is not nurtured sufficiently, it shall manifest an underwhelming performance leading to a financial downfall. Therefore, guiding, developing and maintaining talent is a top need for sustaining a business and giving it a lucrative direction.
There are new trends that are disrupting the Human Capital Management field and its high time Talent Management Practitioners inspect them, embrace them and work for bringing positive alterations.
Talent Management Paradigms
From a global point of view, leadership development has been ranked as the uppermost challenge for talent management professionals while identifying, capturing, nurturing and retaining employees have already been pushing them to burn the midnight oil for quite some time now.
Several studies reveal that the job market is facing a deficit of talent. The supply of dexterous professionals is just not meeting its skyrocketing demand. The lack of skilled people is elevating the worries of employers who aspire to stay ahead of the competition by hiring top talent.
And, this issue is mainly relevant in the tech arena where new technology is born every second, but sadly, there are not enough professionals who upskill themselves to cope with the rapid changes leading to a wide skills gap. From software engineers to big data analysts, a multitude of positions in tech are vacant and the lack of the required competencies is giving a hard time to talent management practitioners in filling those positions to attract success for their firms.
The Topmost executives wishing to increase their workforce are now coming face to face with this challenge since nearly half of them are not able to find appropriate talent to handle their company’s processes. This demands talent management practitioner to rethink their recruitment procedures, the techniques that they apply for recycling professionals who play a strong part in the success of the company and also, to seek better ways to retain them apart from their remuneration.
Currently, without a doubt, it can be said that talent is highly scarce and organizations that require to identify and acquire talent have to compete in undiscovered territories to hunt desired professionals. The older ways of recruiting, acquiring as well as accessing talent do not have the same efficacy. New modes have to be introduced for tackling with the new scenario.
The ongoing global battle for talent is a factor which forces talent management professionals to search for new strongholds within areas that have not been explored before. Evidently, they can look for professional anywhere on the planet, so, it is time for mobility policies to be on the agenda the same way as teleworking.