Leveraging Technologies in Talent management
It has been found that organizations across the globe are struggling to employ and retain talent—the search and competition for finding talent is so fierce. The need for competitive talent management strategies have been felt on high levels. Adopting appropriate technology for the recruitment process and for maintaining a healthy workforce have become primary concerns for entrepreneurs.
Significance of Technologies in Talent Management
In the age of information, knowledge has no doubt become the epicenter upon which world economy is revolving around. Entrepreneurs have to keep in mind the fact that knowledge is the base upon which businesses have to be built and organizations have to thrive. Technology and Talent Management are the two components using which the new world economy has to be taken forward.
As the process of selecting, developing, managing, and retaining key employees in the current business scenario are dependent on social interactions, Social and Real Time Collaborative Technologies are considered critical components of talent management strategies in any organization.
Why it is Important to use Leveraging Technology?
In the dynamic business atmosphere today, businesses are expected to align their Human Resource Management with business requirements, and coordinate their processes and strategies with organizational objectives. This necessitates an integrated talent management system as well as technology for achieving the expected results and efficiency.
Entrepreneurs have to fine-tune their HR departments in such a way that they are able to bring about desired efficiency in talent-related decision making through integrated talent management approach.
Benefits of Leveraging Technology
Optimizing organizational and individual performance can best be achieved through adoption of leveraging technology. It involves using analytics for leveraging of data and linking compensation to the company’s talent management strategy. By adopting this method, the following advantages can be reaped:
- Ensuring maximum compensation spend—making sure that key talent is retained by rewarding top performers and yet maintaining the compensation needs of the whole organization
- Coordinating and optimizing the link between compensation and business goals
- Using state-of-the-art technology to assist in regular work activities
- Making use of web-based resources
Leveraging Technologies that Improve Talent Management
The following are a few of the technologies that entrepreneurs could employ in order to be able to improve the human factor in organizations:
- Social Learning
- Just in Time Training
- Gamification of Training
- Visual Communication
- Personalized Training
""It has to be borne in mind that during the times of rapid technological transformations, human factor will always be the winner—not the technology. It is sound business idea to employ these tools and technologies with a view to add value to the human factor and thus maintain a balanced talent management process!"