#Talent management

[music-matters20]

#TheWeeklyRoundUp - 02.09.23

A bulletin covering the latest news of the past week from the music industry

[hexawaretech]

Recent Trends in Talent Management

The last couple of years brought a massive overhaul in the ways businesses function as well as the way they approach workforce management. Empathy, collaboration, and agility became the buzzwords and the organizations that couldn’t board this ship of change saw massive attritions or worse- a premature closure. Talent management has now become a topmost priority for organizations the world over. From real-world to virtual to hybrid models now, organizations are undergoing rapid change, and organizations need to introspect quickly on the effectiveness of their talent management systems. Many organizations have successfully adapted to the emerging trends in this sphere and resultantly are doing much better than their respective industry standards. While the needs of each sector is dynamic and there’s no one solution to all problems, here are the most commonly followed talent management trends that have emerged as a silver bullet to many.

Dynamic HCM This has been one of the core focus areas for Hexaware and is something that we actively track to analyze and resolve employee concerns. Human Capital Management tools have existed for quite some time but it’s in the last few years that the majority of organizations have started utilizing them to their true potential. These tools are not just a database of employees but their pulse! A successful HCM tool can play a vital role in nurturing and even retaining talent. These tools are now being made to understand the voice of employees and are engaging them more effectively leading to enhanced employee interactions and high satisfaction levels. Dynamic HCM tools have become an increasingly popular method to improve talent experience and a proactive approach in this aspect will take you miles.

Upgradation of L&D Modules It’s about time organizations evolve from the monthly seminars and training sessions in the name of learning and development. These sessions add absolutely no value and do more harm than good. The recent pandemic was one of the glaring examples of the failure of many L&D systems. It was the first time a large number of our talent pool experienced remote work and many organizations quite visibly suffered because of a lack of training on this front. This ended up wasting some crucial business hours in many cases.

The organizations that successfully surfed the wave of change were the ones that were well trained and prepared in advance. Robust and interactive sessions with real-world applications are the way to go and Hexaware’s Maverick programme does exactly this by empowering the employees and fostering their growth. It is designed to keep the young talent on top of the game from day one. The training programmes provided through Hexavarsity run throughout the year and are not a one-time event. These sessions boost employee confidence and add value to their work. Similarly, even for the more seasoned employees, we have programmes that aim to widen their spectrum and give them deeper insight into critical business functions and their global applications. This plays a pivotal role in shaping them into future business leaders.

Empathetic Approach Businesses that have championed empathy in their approach have historically been more successful than the ones that were numbers-focused. This is primarily because employees value an organization and show more loyalty if it has ears for them. Affable top management and a crystal clear communication channel are the need of the hour. At Hexaware, employee welfare activities have been an integral part of our functioning for decades. It’s absolutely essential that employees are in the best state of mind and are bereft of any distress. Our initiatives like Amelio Assist Programme where we provide nanny care and home learning for employees with children between 6 months to 6 years is one such endeavour. In addition to this, our Pay it forward initiative, mental and physical well-being sessions and flexible working hours have done wonders in employee satisfaction growth leading to effective talent management.

Diversifying Talent Pool Conscious hiring decisions that revolve around bringing demographic and cultural variety to your talent pool are on the rise. A diverse talent pool brings a wider perspective to business along with fresh ideas that foster growth. The evolving global business landscape has made it pertinent to have a diverse talent pool that understands and connects to different contexts. This makes every employee feel valued and helps immensely in talent retention and management

Remote Management and Collaborations Remote work has become an integral part of our workspace. This implies a change in not just work locations but also in management style. Managers need to be more collaborative and inclusive in their approach to their teams. Organizations world over are investing heavily in infusing empathy and enhancing collaborative culture in their leadership teams. These attributes are playing a critical role in employee engagement and many business leaders are now warming up to this reality.

Workforce management trends will continue to evolve at a rapid pace in the coming days. This is why Hexaware has been making conscious decisions to adopt an agile approach that enhances employee satisfaction. And it’s time business leaders across the globe invest in a robust talent management system and ensure the employees are heard.

[thestrategyinstitute-blog]

Conflicting qualities can be a source of creativity and adroitness in business leaders. Are you a paradoxical leader?

[hrmhandbook]

Insightful Weekly Roundup: Spotlighting the Top HR Articles From Across the Web (001)

Insightful Weekly Roundup: Spotlighting the Top HR Articles From Across the Web (001) In this week’s roundup of the top HR articles from across the web, we delve into key issues and innovative ideas that are currently shaping the human resources landscape. The digital age has ushered in a variety of unique challenges for HR…

[priyankashares]

5 ways HR Using Metaverse for Talent Acquisition and Management in 2024

In 2024, Human Resources (HR) departments are leveraging the power of the Metaverse in innovative ways to enhance talent acquisition and management. By integrating Metaverse technologies into their processes, HR teams are transforming how they onboard new employees, acquire talent, engage with their workforce, develop human resources, and more. This digital evolution is reshaping the HR landscape, offering exciting opportunities for businesses to streamline operations, foster employee growth, and create immersive experiences that drive success.

What are the metaverse and HR opportunities in the organization?

In 2021, Microsoft revealed its intention to integrate its virtual and augmented reality (VR/AR) platform Mesh with Teams, hinting at the possibility of creating immersive environments within the messaging app in the future. Similarly, Meta introduced Horizon Workrooms, enabling users to conduct meetings using Oculus headsets, marking a significant advancement for HR in the metaverse.

A study conducted by PwC in 2022 revealed that employees trained in VR exhibited a fourfold increase in confidence, a 3.75 times higher retention rate, and completed training four times faster compared to traditional methods. This underscores the potential efficacy of immersive training in enhancing learning outcomes.

The metaverse concept within HR involves the integration of VR, AR, and immersive tech into HR operations, envisioning a digital realm where people can interact, work, and collaborate virtually.

There are indications that both employees and employers are open to embracing the metaverse.

According to a survey conducted by ExpressVPN, which included 1,500 employees and 1,500 employers in the US, nearly 3 out of 5 employees and 4 out of 5 employers express interest in immersive workforce experiences. Additionally, 66% of employers and 46% of employees share excitement about the metaverse.

Several major companies are actively investing in and exploring the potential of immersive HR experiences, provided by the metaverse. For instance, Accenture purchased 60,000 Oculus VR training headsets in 2021, Fidelity Investments hosted a metaverse event in 2022, and KPMG established an innovation center in virtual reality, allowing its partners to directly experience the metaverse.

Here are 5 key ways to revolutionize the HR landscape with the metaverse and unlock new possibilities for business growth and success:

1. Onboarding of Remote Workers

In the age of hybrid and remote work arrangements, the recruitment and onboarding journey for candidates and new hires often involve extensive email exchanges and video calls. This can sometimes result in a less intimate experience, leading candidates or new employees to feel disconnected from the company right from the start of their tenure.

As a solution, the Metaverse offers HR a means to enhance communication with potential and new hires, especially in remote setups. HR departments can establish virtual office environments to foster a more interactive and ‘in-person’ ambiance during recruitment and onboarding phases, thereby crafting a more personalized experience for individuals joining the organization.

2. Recruiting

HR in the metaverse stands poised to transform the recruitment process fundamentally, utilizing immersive technologies to elevate candidate experiences and enhance hiring outcomes. With virtual and augmented reality, candidates can engage in interactive job previews, gaining deeper insights into roles and assessing their suitability with enhanced clarity.

Virtual reality facilitates virtual interviews and assessments, fostering a more inclusive and thorough recruitment process that identifies top candidates effectively.

Through metaverse integration, organizations can create enduring and positive initial impressions, fostering connectivity and mitigating potential isolation among remote employees. These innovative strategies harmonize HR with the metaverse, revolutionizing talent attraction and selection paradigms.

3. Virtual Career Fairs

Organize virtual career expos in immersive settings that surpass geographical limits, providing a central hub for potential candidates to engage with your company, gaining key insights into your ethos and principles.

These virtual career expos draw a diverse pool of candidates globally, broadening your talent reservoir substantially. This scalability empowers you to choose the best-suited candidate for each position from a vast spectrum of educational and professional backgrounds.

4. Fun Activities Together

The immersive essence of the metaverse allows teams to engage in collective activities within your company’s virtual realm. This transforms experiences such as treasure hunts, follow-the-leader games, or similar activities into captivating and transporting adventures.

As teams immerse themselves in these shared activities, bonds are forged more swiftly and effortlessly. By embracing the metaverse for group engagements, participants experience a sense of shared presence and accomplishment. Moreover, this approach offers substantial cost savings compared to traditional travel or physical event hosting.

5. Virtual Training and Simulations

An effective strategy for HR to leverage the Metaverse is by integrating virtual training programs and simulations to enhance behavioral training. Utilizing the immersive capabilities of the Metaverse, HR can craft interactive scenarios that replicate real-world work situations, providing employees with hands-on training opportunities.

Virtual simulations within the Metaverse enable employees to practice essential skills such as communication, negotiation, critical thinking, and decision-making in a risk-free environment. Additionally, Metaverse-based classes allow for participation in lectures, discussions, and collaboration with trainers and peers regardless of geographical distances.

To enhance the learning experience, these sessions can incorporate 3D models, simulations, and gamification elements, making training more practical and engaging. This approach not only caters to tech-savvy generations but also revolutionizes skill development for employees, transforming traditional training methodologies.

A final word

The integration of Metaverse technologies into HR practices is revolutionizing talent acquisition and management in 2024. With platforms like ibentos’ Metaverse offering innovative solutions, HR teams can enhance onboarding experiences, foster employee engagement and development, and create immersive processes. If you want to leverage the power of the Metaverse for your HR needs, explore ibentos metaverse platform today and embark on a journey of digital transformation.

Source: https://ibentos.com/blogs/5-ways-hr-using-metaverse-for-talent-acquisition-and-management-in-2024/

[capstone-solutions]

Top HR Services and Outsourcing Companies in Dubai: Your Guide to Efficient Workforce Management

Explore the leading HR services and outsourcing companies in Dubai that can help streamline your business operations. This comprehensive guide provides insights into the top providers offering a range of services, from payroll management and employee benefits to recruitment and compliance. Learn how partnering with these experts can enhance your HR functions, improve efficiency, and reduce costs. Whether you are a startup or an established enterprise, find the right HR outsourcing solution to support your growth and operational excellence in Dubai’s dynamic business environment.

[rahul-shl]

Talent Management Today—What Organizations Are Doing Well and What Needs To Improve

nvesting in nurturing, developing, and optimizing internal talent pools offers significant benefits for both an organization and its workforce. It enables succession planning, identifies high-potential employees, and facilitates career mobility. We surveyed global organizations¹ about their Talent Management strategy to see what they are doing well and what needs to improve.

Talent Development is Increasing in Importance

On average 36% of HR budgets are allocated to talent management and this is increasing, indicating a collective commitment to talent development and management as a strategic priority. This deliberate investment can provide a rapid solution for bridging critical skills gaps. Simultaneously, it ensures the establishment of a robust succession plan for future leaders, safeguarding the organization’s success and prosperity.

However, with financial pressure being felt within all departments within organizations today, what are organizations doing well and what areas can they improve?

What Are Organizations Doing Well?

Assessments Are Widely Used to Manage Talent Over 80% of our respondents actively use assessments for talent management, highlighting the importance of applying accurate, objective data to make informed decisions.

Prioritizing Leaders and High-Potentials Organizations are prioritizing roles that have the most impact, with Leadership Development being the top priority for talent management, followed by High-Potential Identification and Career Development.

Investing in Talent Management Most organizations (83%) plan to invest in talent development, highlighting the strategic importance that this has in future success and in retaining key employees.

What Can Organizations Do Better?

Internal Mobility Opportunities Opportunities for internal mobility exist at various organizational levels, but most opportunities exist at the individual contributor level (27%) and at the first-line manager level (27%). It is critical that talent can see a pathway to senior positions if they are to remain engaged and motivated to stay within the business.

Talent Identification Lacks Objectivity Internal selection and promotion decisions heavily rely on subjective input (87%) and past performance (78%), indicating the opportunity to realize the value of more objective inputs, like assessments.

Identifying High-Potential Employees is Still a Challenge Despite the use of assessments to identify high-potential employees (55%), satisfaction levels with how they are defined and identified within organizations remain under 50%. Having effective high potential programs based on scientifically backed data can provide huge benefits.

Effective Use of Talent Data Still Has Many Barriers Organizations need to be aware of any barriers to data use and have a plan to overcome them—an integrated talent system can offer a big step in the right direction.

Managing talent is no easy task and these are just some of areas organizations must consider to develop an effective talent management strategy. By working strategically with their HR teams and the business as a whole, they can maximize employee potential and enabling them to thrive in their roles.

See more insights from our survey to over 1,600 HR Professionals across a range of topics including the use of talent assessment tools and talent analytics, how organizations approach DEI and neurodiversity, and the impact of Artificial Intelligence (AI).

[maharghaideovate]

Unveiling the Future of Talent Management: A Look at LPU's Innovative Program

The way we work is changing. Globalization, technological advancements, and shifting employee expectations are all reshaping the talent management landscape. To stay ahead of the curve, organizations need HR professionals equipped with the skills to attract, develop, and retain top talent. The LPU Online Talent Management program addresses these challenges by providing students with a…

[thalaronglobal]

Explore the realm of customized solutions with Thalaron Global!

As a leading GCC Advisory Services provider, whether you're expanding into India, fostering talent, refining operations, or driving innovation, we're here to support your business journey.

Explore our offerings below:

Company Incorporation and Legal Services: We have efficiently consulted and supported organizations on process and procedures for incorporation and reduce the time to market significantly with our Legal service expertise

GCC Growth Navigators: Need help setting up or expanding in India? We've got you covered with market entry strategies, talent acquisition, tech setup, and legal support.

Talent Fusion Forge: Let's build a skilled and diverse team together. We handle EOR, payroll management, recruitment, onboarding, skill development, and HR consulting to align talent with your goals.

Workspace Dynamics: Make your workspace work for you. We design, optimize, and manage work environments for productivity, safety, and employee engagement.

Operational Harmony: Streamline your operations for success. We improve processes, ensure compliance, and optimize costs to align with your goals.

Leadership Apex: Meet your virtual execs—vCFO, vCISO, vCTO, vCHRO. Get strategic guidance and operational excellence without the full-time commitment.

Innovation Frontier: Let's innovate together. We help build Centers of Excellence as hubs for innovation and operational excellence, driving success forward.

Ready to take your business to new heights? Connect with Thalaron Global today!

[inorg-global]

Operations-as-a-Service

Streamlining Success with Operations-as-a-Service

Operations-as-a-Service by InOrg offers a transformative approach to managing daily business processes, providing organizations with the efficiency and expertise needed to excel in today’s competitive market. By outsourcing operational tasks to InOrg, companies can focus on their core competencies while we handle the complexities of process management, from administrative duties to supply chain optimization. Our service ensures that your operations are run with precision and adaptability, leveraging advanced technologies and methodologies to enhance operational efficiency and reduce overhead costs.

With InOrg’s Operations-as-a-Service, your business gains the agility to respond to market changes rapidly and effectively. Our tailored solutions are designed to meet the unique needs of each client, incorporating best practices and innovative tools that drive productivity and operational excellence. We provide a comprehensive suite of services that covers all aspects of operations management, ensuring a seamless integration with your existing business model. This full-service approach not only simplifies your operational landscape but also empowers your team to pursue new opportunities with increased confidence and capability.

[workforcesolution]

SAS IS GAINING PROMINENCE IN HEALTHCARE -1

SAS is revolutionizing healthcare analytics, offering benefits from cost management to patient care. With SAS skills in high demand, it's a pivotal time to explore its potential in the healthcare sector. Read more to discover the impact of SAS in healthcare analytics. https://www.rangtech.com/blog/data-science/sas-is-gaining-prominence-in-healthcare-1

[hrmhandbook]

Exploring and Resolving Talent Management Issues in Today's Business Landscape

Exploring and Resolving Talent Management Issues in Today’s Business Landscape As we continue to navigate through the 21st century, it is increasingly clear that we operate in an evolving landscape of talent management, a landscape that is marked by rising complexity and the introduction of an array of new challenges. The…

[lauriejmccabe]

Top Takeaways from Workday’s 2024 Innovation Summit

Workday’s annual Innovation Summit promises to provide IT industry analysts with insights into the vendor’s achievements, current initiatives, and future directions. This year’s Summit, held again at one of my favorite spots—Cavallo Point in Sausalito—lived up to its billing. During a day and a half of sessions, Workday executives discussed why and how Workday is positioned to lead in the…

[leaderprogram]

Build Efficient Success Profiles For Talent Management 

Our leadership and talent management help your organisation develop a talent development initiative that will motivate and improve performance. Success Profiles for Talent Management is a blueprint for identifying high-achieving individuals in your organisation. For more information, browse the website and get in touch with us.