Focus on leadership and talent - how to identify them, foster them, and reward them
Demographic change, technological disruption, and the changing working landscape have enormous implications for talent and are constantly altering organisations’ skill requirements. What will be needed in even the near future is almost impossible to predict. This all adds up to a major talent recruitment and management challenge for organisations.
Make more use of HR analytics at all stages of the HR cycle
From recruitment, to profiling National staff intakes, to developing performance KPIs, to analysing engagement surveys.
Predictive Human Capital data analytics can provide valuable insight while simultaneously taking the guesswork out of decision making. Examples of insights include: predictions on which people will leave or stay; employee preferences for rewards and working styles; ROI on training and what development activities are most impactful; forecasts of future labour costs; the level of engagement for top-performing employees.
Tailor your HR practices to what your business needs
There is no single solution that will fix every talent or HR challenge. It’s important to focus on what your particular mix of employee needs, bearing in mind your sector and their skills. The structures organisations use to harness talent have become as important as talent itself. Typically, organisations are using a suite of options to maximise their access to increasingly hard to find talent, from ‘gig economy’ workers to full time employees. Getting these structures and relationships right is a complicated issue and one that organisations need to address rapidly.
Invest in the future
By understanding what it means to be an ‘employer of choice’ for Millennials and ambitious women, and adapting your working culture, working policies, and learning and development programmes to address their needs.
Create a culture where innovation thrives
This takes courage, and the confidence to break down old-fashioned command and control structures which hamper creative thinking. New incentives, initiatives and work environments should be put in place to foster and reward innovative thinking and the trying of new things without risk of failure. Certain KPIs could even be put in place at a leadership level to drive a culture of innovation.