Article: Talent Management 3.0: Nurturing People Potential through Technology

Technology

Talent Management 3.0: Nurturing People Potential through Technology

In order to achieve operational excellence today, leveraging technology for businesses transformation has become imperative for an organisation
Talent Management 3.0: Nurturing People Potential through Technology
 

A way to empower managers and executives, the induction of technology in HR processes, has encouraged employees to monitor HR related information

 

In order to achieve operational excellence today, leveraging technology for businesses transformation has become imperative for an organisation

In Talent Management 3.0, the agenda of HR managers is to not only master traditional HR skills and knowledge, but also have the ability to apply that knowledge via technology. Embracing technology has proved to be a win-win in a lot of ways for the HR function. Also, research shows that organisations that combine effective HR management processes with effective HR technology are likely to be more productive and more profitable than those that do not.

Streamlining HR processes by reducing administrative burdens and compliance costs, competing effectively for global talent and improving service and access to data for employees and managers are only some achievements. “With a dispersed workforce, integrating technology with your talent strategy to manage the business cycle has been the mainstay of the virtual workplace of today,” says Emmanuel David, Executive Vice President & Chief Human Resources Officer at Voltas.

It’s going to be about using technology to harness information

In an environment of increased competition and rapid technological advances, forward-thinking organizations are now turning to Web-apps that are easily maintainable and to cost-effective HR management systems that help HR from a scalability perspective. As a way to empower managers and executives, the induction of technology in HR processes, has encouraged employees to monitor their own HR-related information.

Further, early adopters of workforce planning are graduating from first generation analytics to predictive analytics. The metrics have transitioned from being static to dynamic. The obvious areas where HR can make an impact through such analytics are recruitment and turnover. These two areas are big money spinners too. Another area is leadership. The way people lead their teams can mean the difference between being productive and destructive. It can also have a big impact on whether people walk out the door or bring talented people in.

Technology can help organisations develop a predictive model based on historical employee data, derive insights based on attrition predictions, predict flight risk probabilities and arrive at focused retention efforts.

“A major scope still lies in building analytics in the HR domain and that should be our focus areas as HR leaders,” mentions Anil Fotedar, Senior Vice President – Human Resources at Idea Cellular. Also, looking at the future of HR technology, industry leaders highlight adoption of cloud-based systems as one of the most upcoming trends since it is driven by the ‘pay-as-you-use’ model, scalability and agility.

This amalgam of HR with technology has its share of pitfalls too

While most companies have been able to create excellent portals that help in managing performance and time allocation for the employees, there are some core employee engagement areas that have not been leveraged extensively through technology. The reason noted for this is that employees are unable to see what’s in it for them in such platforms.

Gautam Chainani, Chief People Officer at Aditya Birla Financial Services explains, “Employees often consider these platforms as company mandates. Hence, areas like career conversations with the employees, e-learning frameworks and technologies to measure people readiness against business readiness are not leveraged as much.” These can definitely be seen as areas of opportunity in the HR technology space.

In conclusion, with the advent of myriad technology solutions, HR service delivery models and processes have undergone a significant makeover. Choosing the right technology is a pivotal decision that HR needs to take in tandem with the understanding from partners in the IT function. Going forward though, what becomes crucial is the ability to have different technology platforms speak the same language so as to determine consistent solutions for business results.

(As captured from a People Matters – Cornerstone OnDemand roundtable discussion on Talent Management 3.0: Building a strategy for the future, today)

Topics: Technology, Employee Engagement

Did you find this story helpful?

Author

QUICK POLL

Is India Inc ready to support the gig economy?

On News Stands Now
q_auto,f_auto/v1575666839/mag-december-2019.png

Subscribe now to the All New People Matters in both Print and Digital for 3 years.

.

Subscribe
And Save 59%

Subscribe now

How likely are you to recommend our content to a friend or colleague?

01
10
Selected Score :