As the demand from the human capital function goes on increasing, here are the top resolutions that HR needs to make to make this a “can do” year. Business growth depends on effectively motivating and managing the workforce. As it turns out, many companies could be doing a better job: Oxford Economics’ recent global study reveals some widespread talent management shortcomings.
The good news: All these problems are solvable—especially if you start now. The research points to some points for the human capital function to consider.
The urgent need for stronger HR analytics skillsets and tools
The right mix of motivators to attract and reward Millennials
The troubling trend of lackluster leadership—and what to do about it
The tangible risks of neglecting learning and development
Make analytics actually work- This is the year for less talk and more analytics. The value of analytics is beyond the singular objective of improving sourcing, or making better L&D decisions. HR has to resolve to make true use of analytics across the entire employment lifecycle, from acquisition to exit. Analytics is the art of marrying intuition with data to arrive at compelling solutions.
Look at new ways of talent acquisition - To remain competitive in the talent market, HR has to look beyond databases and age-old techniques. With the advent of intelligent social and cloud solutions, talent acquisition has suddenly become an ingenious art. HR should resolve to make talent acquisition actually work. Finding alternative talent pipelines, improving candidate experience, engaging hiring process, and several other ways can help an organisation get there.
Develop leadership - Confidence on leadership in India and the rest of Asia are at an all-time low. It is about time, companies start showing some actual intent to provide accelerated leadership lessons and experiences for the next line.
Improve performance - Performance management is proven to improve business results. However, most performance programs never capture these rewards. Often too much time is spent on administration. Start rethinking and focus more on continuous dialogue and development with clearer goals, more performance ‘tune-ups’, and streamlined processes.