(BUT THEY MUST BE DOING. An important post on the implementation of trending financial planning and data analytics elements in an organizational context.)
The chaotic turbulence caused by increased democratization, technological breakthroughs, talent shortage, skill-gap, automation, transitions, and skill obsolescence- a phenomenon not adequately understood and addressed by modern global companies- is equivalent to looking at disruption at its best.
Talent management organizations, right now, have come to gain its rightful place in the world. What worked in silos is now considered an imperative in a world where people have come to recognize its importance. For organizations around the world, hiring talent is becoming of a war scene.
It’s common to hear about how individuals can be an effective people manager just by being certified with a talent development certification. Not everything that has been mentioned below can be inculcated into one’s being through a talent development certification. Nevertheless, this statement doesn’t negate the importance of the same.
A talent development certification exposes us to the best practices that can help one to become an evolved leader and build a high-performance culture.
There are various factors related to a high performing culture but we are dealing with two latest and trending alerts in the industry of human resources. One is financial planning for employees and the other is data analytics. Let’s get a hang of what do they mean for the world of talent management. Take a look:
Financial Planning for Employees: The state of affairs are being pushed aside by the possibilities of financial wellness programs which, surprisingly, are being offered by employers these days.
When savings are adequate, borrowings made from retirement savings are drastically reduced which helps participants achieve a financial stability and balance. Employers have a good time leveraging full attention and productivity of the staff. Nobody’s complaining.
The profundity of financial benefits and low absenteeism could be easily appreciated by companies when a worker’s compensation and disability costs are reduced drastically.
Companies around the world are leveraging peer-to-peer relationships and technologies for solutions on high-impact and low-cost suites.
A sound and sage advice coming from financial planners could be a great initiative.
Leveraging Data Analytics: The interesting thing about the new generation of jobs is their evolutionary pace, that we are finding it hard to ace them before they change shape again. Big data is one such professional enigma. But that doesn’t mean the speed of change has affected its demand and hotness quotient.
When data speaks you have to listen! Why should it be any different with the hiring of data analytics and data engineering tools to check on employee turnover, employee retention, and employee experience? If numbers don’t excite you, nothing can. Hire the services of consultants who mentor sophisticated companies on huge volumes of data and analytics.
With their help, check the results which carry potential and could be tested today but may require some further tests. Some organizational problems may require years to solve, but it’s nonetheless important to resolve.
Workforce futurists claim talent management need to break away from the traditional inertia to envision what’s in store on the HR horizons. Never ever was the best time, to leverage data and financial planning for human resources management, than now. Along with these elements, incorporate the best of other steps you have been taking till now, and there’s no way anything will stop your organization from growing.
Being stuck in the past won’t help with the development and optimization of the workforce, being focused on future will. Start preparing for future today. All the best!