talent management uk essay

Winning with your talent-management strategy

The allocation of financial capital has long been recognized as a critical driver of an organization’s performance. The value of managing and allocating human capital, however, is less widely known. But the results from a new McKinsey Global Survey confirm the positive effects of talent management  on business outcomes. 1 The online survey was in the field from November 14, 2017, to November 28, 2017, and garnered responses from 1,820 participants representing the full range of regions, industries, company sizes, functional specialties, and tenures. To adjust for differences in response rates, the data are weighted by the contribution of each respondent’s nation to global GDP. According to respondents, organizations with effective talent-management programs 2 We define an effective talent-management program as one that, according to respondents, has “effectively” or “very effectively” improved the organization’s overall performance. have a better chance than other companies of outperforming competitors and, among publicly owned companies, are likelier to outpace their peers’ returns to shareholders.

The survey also sought to uncover the specific practices that are most predictive of successful talent-management strategy. While there is no one-size-fits-all approach to the effective management of human capital, the survey results reveal three common practices that have an outsize impact on the overall effectiveness of talent management as well as organizational performance: rapid allocation of talent, the HR function’s involvement in fostering a positive employee experience, and a strategically minded HR team. The survey results also point to underlying actions that organizations of all stripes can take to cultivate these practices and thereby improve their talent-management strategy and organizational performance.

Why effective talent management matters

According to the survey responses, there is a significant relationship between talent management—when done well—and organizational performance. Only 5 percent of respondents say their organizations’ talent management has been very effective at improving company performance. But those that do are much more likely to say they outperform their competitors: 99 percent of respondents reporting very effective talent management say so, compared with 56 percent of all other respondents. 3 Figures were calculated after removing the 3 percent of respondents who answered “don’t know” when asked how their organizations’ performance over the past three years compared with competitors’ performance.

What is more, the effects of successful talent management seem to be cumulative. Like an overall effective talent-management program, the abilities to attract and retain talent appear to support outperformance (Exhibit 1). Among public companies, we see a similar effect on total returns to shareholders (TRS). At companies with very effective talent management, respondents are six times more likely than those with very ineffective talent management to report higher TRS than competitors.

Three drivers of successful talent-management strategy

To support these outcomes, the results suggest three practices that most closely link with effective talent management: rapid allocation of talent, 4 We define rapid allocation of talent as the fast or very fast movement of talent among strategic projects as priorities arise and dissolve. HR’s involvement in employee experience, and a strategically minded HR team (Exhibit 2).

Respondents who say all three practices are in place—just 17 percent—are significantly more likely than their peers to rate their organizations’ overall performance, as well as TRS, as better than competitors’ (Exhibit 3). They are also 2.5 times more likely than others to rate their organizations’ overall talent-management efforts as effective.

Rapid allocation of talent

Only 39 percent of respondents say their organizations are fast or very fast at reallocating talent as strategic priorities arise and dissolve —a practice that leads to a 1.4-times-greater likelihood of outperformance. And while it is well established that companies with rapid capital allocation are likely to see higher TRS , our findings show that the same holds true for talent allocation. At public companies that quickly allocate talent, respondents are 1.5 times more likely than the slower allocators to report better TRS than competitors. 5 Respondents who say their organizations have rapid talent reallocation are 2.2 times more likely than those who say their organizations have slow or very slow talent reallocation to report better TRS than competitors, as noted in Mike Barriere, Miriam Owens, and Sarah Pobereskin, “ Linking talent to value ,” McKinsey Quarterly , April 2018. The link between rapid allocation and effective talent management is also strong: nearly two-thirds of the fast allocators say their talent-management efforts have improved overall performance, compared with just 29 percent of their slower-moving peers.

Would you like to learn more about our Talent Match Solution ?

To allocate talent more quickly, the survey results point to three specific actions that meaningfully correlate with the practice (Exhibit 4). The first of these is the effective deployment of talent based on the skills needed , which has a direct impact on the speed of allocation. Respondents are 7.4 times more likely to report rapid talent allocation when their organizations effectively assign talent to a given role based on the skills needed.

Second is executive-team involvement in talent management. Respondents who say their leaders are involved in talent management are 3.4 times more likely to report rapid talent allocation at their organizations. The frequency of leaders’ involvement also makes a difference. At organizations that quickly reallocate talent, executive teams usually review talent allocation at least once per quarter (Exhibit 5). Finally, the results suggest that organizations where employees work in small, cross-functional teams are more likely than others to allocate talent quickly.

HR’s involvement in employee experience

A second driver of effective talent management relates to employee experience—specifically, the HR function’s role in ensuring a positive experience across the employee life cycle. Only 37 percent of respondents say that their organizations’ HR functions facilitate a positive employee experience. But those who do are 1.3 times more likely than other respondents to report organizational outperformance and 2.7 times more likely to report effective talent management, though our experience suggests that the HR function’s role is just one of the critical factors that support great employee experience .

Read our latest thinking on talent management strategy

A couple of key actions underlie the HR function’s ability to ensure better employee experiences. One is quickly assembling teams of HR experts from various parts of the function to address business priorities. Just 24 percent of respondents say their organizations employ this characteristic of an agile HR operating model , and they are three times likelier than other respondents to report a positive employee experience. Second is deploying talent and skills in a way that supports the organization’s overall strategy. One-third of all respondents say their organizations’ HR business partners are effective at linking talent with strategy in this way, and those who do are over three times more likely than other respondents to say the HR team facilitates positive employee experiences.

Strategic HR teams

The third practice of effective talent management is an HR team with a comprehensive understanding of the organization’s strategy and business priorities. When respondents say their organizations have a strategy-minded HR team, they are 1.4 times more likely to report outperforming competitors and 2.5 times more likely to report the effective management of talent.

The factor that most supports this practice, according to the results, is cross-functional experience. When HR leaders have experience in other functions—including experience as line managers—they are 1.8 times more likely to have a comprehensive understanding of strategy and business priorities. Also important is close collaboration among the organization’s chief HR officer, CEO, and CFO . 6 Dominic Barton, Dennis Carey, and Ram Charan, “People before strategy: A new role for the CHRO,” Harvard Business Review , July–August 2015, pp. 62–71, hbr.org. Fewer than half of all respondents say those executives work together very closely at their organizations, 7 The question “How closely, if at all, does your organization’s chief HR officer work with your CEO and CFO?” was asked only of respondents in vice president and C-level roles. but those who do are 1.7 times likelier to report a strategy-minded HR function. The findings also point to the importance of transparency with all employees about strategy and business objectives. Respondents who say their organizations’ employees understand the overall strategy are twice as likely to say their HR team has a comprehensive understanding of the strategy.

In summary, effective talent management—and the practices that best support it—contributes to a company’s financial performance. No one approach works for every company, but the survey results confirm that rapid allocation of talent, the HR function’s involvement in fostering positive employee experience, and a strategic HR function have the greatest impact on a talent-management program’s effectiveness.

The contributors to the development and analysis of this survey include Svetlana Andrianova, a specialist in McKinsey’s Charlotte office; Dana Maor , a senior partner in the Tel Aviv office; and Bill Schaninger, a senior partner in the Philadelphia office.

They wish to thank Laura Lee, David Mendelsohn, and Trevor Young for their contributions to this work.

Explore a career with us

Related articles.

An agenda for the talent-first CEO

The CEO’s guide to competing through HR

Linking talent to value

ESSAY SAUCE

FOR STUDENTS : ALL THE INGREDIENTS OF A GOOD ESSAY

Essay: Talent management

Essay details and download:.

• Subject area(s): Management essays
• Reading time: 20 minutes
• Price: Free download
• Published: 3 November 2016*
• File format: Text
• Words: 5,756 (approx)
• Number of pages: 24 (approx)
• Tags: Human resource management essays

Text preview of this essay:

This page of the essay has 5,756 words. Download the full version above.

1.1 INTRODUCTION AND BACKGROUND Talent is defined by the dictionary.com as the special ability that enables someone to perform the job very well. Talent Management is the term used to define sound and integrated human resource with the aim of attracting the correct people, with the right skills and expertise for the right positions at the right time. It can also be explained as the process of ensuring that the company attracts, retains, motivates and develops the talented people with the aptitude and abilities it requires in order to meet the current and future organizational needs. Companies are run by people therefore the talent of these people will highly determine the success of the company. World class organisations succeed in today’s world because they know how to SCORE, because they employ people with the right skills. The modern workplace is changing rapidly with advances in technology changing the nature of the world’s economy from being predominantly product based towards a new knowledge paradigm. We live in a challenging competitive global business environment which is becoming intensive and organisations have increasing pressure to perform better than before. Formation and safeguarding of knowledge has become a key tool in accelerating competitiveness and enhancing organizational capabilities to respond to market charges (Bryan, 2004), wherein employees skills and personalities are appropriately deployed to optimize performance, is critical and difficult task. In addition identification and developing executives who have leadership abilities is a very demanding process that is equal parts of Arts and Science (Klein and Miles, 2003). For any organization in order for it to carry out its mission successfully they need to develop as well as ensure that they deploy the right and talented employees and the right positions in order to articulate the passion and the vision of their organization. Therefore in order for the business strategy to make sense, the talent management needs to be linked to it. Erongo RED is an abbreviation for Erongo Regional Electricity Distributor Company (PTY) LTD a company that is responsible for the supply and distribution of electricity in the Erongo Region in the Republic of Namibia. The company made its vision as its driving strategy. Erongo RED is having a staff compliment of 300 employees of which 108 are Female and 192 Male. The core business units are Network Operations and Network Engineering. These divisions employs the majority of employees which Electricians and Engineers. Erongo RED also has support divisions which are Supply Business unit responsible for Customer care, Billing and Metering, Finance and Corporate Services which is responsible for the financial administration of the company, Human Capital responsible for all human resources activities which includes talent management, Supply Business unit and last but not least the Office of the CEO which is responsible for Business strategy, Marketing and Public Relations and Auditing as well as for the overall management of the company. Talent management at Erongo RED has a place at executive table and talent management is a key performance indicator for Erongo RED business strategy. Therefore talent management in Erongo RED is well aligned with the company’s strategy.

2.Literature Review 2.1 Definition of Talent Most researchers defined talent from different perspectives. According to CIPD 2007, definition the way the specific company defines talent it depends on the strategy that is being used by the business as well as the nature of the organisation. Therefore there is no one single definition for the word talent, it basically depends on the language that is being shared in the specific company (Tansely 2011). Talent is unique to organization as is particularly affected by factors like industry, its nature, individuals, implications and so on (CIPD 20 07). CIPD 2007 defined talented people as people who can make the potential difference in the company. According to Ready & Conger 2007 they defined talent as a group of employees with an average knowhow and skills and are prepared to be promoted to executive positions thus are regarded as best employees in the organization.

2.2 Definition of Talent Management Different definitions are available for talent management however it remains unclear on what exactly what it really means (Lewis & Heckman 2006). Different researchers however put more emphasis on having the right number of people at the right place at the right time that have the necessary skills sets required and level of motivation are vital fundamental to talent management (Stephenson & Pandit 2008). Similarly others equally believes that talent management embraces all activities within the organization ranging from employee attraction, employee development, selection as well as retaining them in the suitable positions ( Stahl Et al, 2007). According to Iles et al (2010) & Capelli (2008), there is a relationship between talent management and human resource management which presents a different analysis. As illustrated in the following points of view definitions of talent management: 1) Talent management is not essentially different from Human Resource Management (HRM). It includes HRM activities and hence can be said that talent management is a rebranding term of HRM, which has transformed from the traditional term of human resource management to the new concept of talent management. Therefore this new brand of HRM has focused on how to manage talents strategically. 2) Talent management includes human resources management and organizational development, but talent management highlights on talented people, accordingly, the focal point is talent pool, both internal and external of the organization.

3) Talent management focuses on proficiency development through managing the development of talents within the corporation. Their focus is on talents is on talent movements instead of talent pool. The theory has originated from operational and logical theories. Talent management programs are shaped to provide pools for providing certain job categories and focus on development of specific individuals who are qualified to make succession in the organization.

2.3 The Concept of Talent Management and its importance The concept of talent management originated during World War II (Cappeli, 2008). Talent Management has become the most important component of corporate strategies in most of the organisations (Bano, Khan, Rehman & Humayoum, 2010). Talent Management is the additional management processes and opportunities that are made available to people who are considered to be talent (Blass, 2008). Talent management is directly linked to concept that includes human resource planning, strategic human resource management and employability (Brown and Hesketh, 2006). The basic purpose behind talent management is mainly to improve the process of recruitment, selection, retention and employee development in order to meet current challenges faced by organisations as well as improving organizational performance by fulfilling organizational needs (Bhatnagar, 2007). Successful talent certifies the organisations to attract and retains essential talents and employee’s engagement who believes that talent management is fundamental to talent and is associated with a number of typical human resources management practices or functions like recruitment, training and development (Heinen 2004). Managers should develop their strategy for talent engagement, motivation as well as retention as per talent’s external and internal factors. Most organisations has started to capitalize in long term strategies to employ as well as develop management skills, in additions to employing integrated talent management development strategies, henceforth a well-developed strategy can benefit in overcoming organisations difficulties as well as enhancing business success Rowland (2011). Literatures by researchers like Ulrich (1989, 1996, 2005), Pucick (1996, 2005) and Capelli (2008) indicates the importance of talent management as well as its benefits. The worldwide war for talent is becoming a serious driving force in corporate competitive and performance, the idea of talent management has become increasingly popular (Axelrod et al 2002). 2.4 Talent Management Practices Talent Management approaches are meant at improving employee benefits, employee engagement, competence compensation, learning and development and Instrument for measuring the outcome of talent management are absenteeism, turnover and productivity (Mudoli, 2009). Talent Management deals with the implementation of program and strategies to attach the unique talent of individual employees and translate their talent potential into optimum organizational performance. (UK Commission for Employment & skills, 2012) point out the various approaches for the management practices such as The “Inclusive approach, The Executive Talent pool approach, The Future Leaders approach, The Succession Planning approach, The Blended approach. 2.5 The need for talent management Human resources (HR) work in order to obtain as well as retain manpower therefore talent management is on HR professional minds in today’s world. In order for talent management to be successful it is vital to employ people who are best suitable in the organization. According to Shravathi and Sumant, 2008 most employees also identify themselves with specific companies mostly in the light of forecasted labour shortage. Companies that officially decide to accomplish their talent commence a strategic analysis of their current human resources process (Shravathi and Sumant, 2008). This is done with the aim of ensuring that a coordinated performance oriented approach is adopted. The need for talent management also resulted from the characteristics of the existing employees which are currently in the process of transformation and are capable and liable for significant changes. According to Sojka, 2010, changes are as follows: o Changes in the workforce trends Global organisations have notices the alarming reality that significant demographic, economic, social-political and technological changes dramatically transform the workforce too. Changes in the birthrate, in the age of retirement and the workers requirements reduce the volume of the workforce and cause significant skill shortage, while on the other hand removal of the business barrier, progress in communication and the latest economic findings highly prioritize the global and virtual workforce. o Workforce smaller in numbers and insufficiently skillful o Global dimensions of the workforce o Vitality of the workforce o Diversity of the workforce o Autonomy and self-containment

2.6 Approaches to Talent management 2.6.1Talent Attraction Talent attraction includes recruitment and selection, employer branding, employee value proposition and employer of choice (Armstrong, 2006). Recruitment and selection entails that companies utilize different methods and techniques of selecting the correct talent that reflects the culture as well as the value on the particular company (Armstrong, 2006). The first thing in talent management task strategy is the creation of the recruitment pool, which can either be an internal pool or an external pool. According to David et at 2007 the best way create a talent pool is an internal pool since the employees are already familiar with the business process and can be incorporated directly into the positions thus uplifts the morale of the workforce. Employer branding includes development of the organisation’s image good enough such that it attract employees. In order to attract the best, organisations branding is a very useful strategy, therefore for a company to attract the best it need to have a good image (Tanuja 2007). 2.6.2 Talent Retention Employee turnover can have a direct impact in any organization. Not only does it cost your company in terms of recruitment, on-boarding and training, it also affects your ability to continuously offer high-quality service to your client (Zikmund, 2000). Talent Management programs offers companies proven and practical way to meaningfully improve satisfaction and retention in order to reduce turnover and its associated costs (vol5). It also stated that the happier and productive employees deliver high level of customer service and help to deliver strong overall business results that will contribute to the overall productivity of the company. In order to attract as well as to retain talent for compatibility, there should be the fit between the employer and employee, Lockwood (n.d). This includes introduction of the different activities that will help in employee retention such as performance incentives, succession planning as well as performance management system. 2.6.2 Learning and Development According to the CIPD (2006) leaning and development survey, the two main objectives of talent management are: developing individuals as well as growing future senior managers. This survey also reveals that about 94% of the respondents well-designed talent activities can have a positive impact on an organisation’s bottom line. According to Byhan et al (2002), if a company fails to have a well-defined profile of what it clearly needs from its future senior leadership then it will not be able to develop people for future management positions as well as clearly assess the readiness of high-potential individuals for leadership roles. In the same vein Byhan et al (2002) also states that the characteristics of the leaders who will carry it into the future should also be stated. In order to ensure readiness employees need to be constantly developed as well as ensure that there is a succession plan in place. All these have to be linked to the company’s strategy.

2.6.3 Career Management According to Allen 2005, there are several element of career management, which includes career development and planning which focuses on planning of employee growth and progression, career path that involves creating established career paths and families of jobs inside a given area allowing employees have a vision of progression as well as goals and expectations, employees development consisting of programs and initiatives, learning and development initiatives, management coaching, competitive reward systems, career center, succession planning, performance management/ feedback and cross-functional development programs. Career management has both formal and informal activities which include employee’s workshops, job rotations, job enrichment and career progression ladders for example organizationally planned programs or developmental stage theories (vol5). Companies also contribute to career identity by providing ample opportunities for self-development, opportunities for progression and mentors (Dagharm, 2013). According to Sturgeset al (2002), career management increases employee’s commitment and henceforth organisation’s performance. Van Dam (2004) has established that people who experience more support have high higher employability orientation. 2.6.4 Succession Planning Management Succession planning and leadership development are very important business strategies to develop and retain people under talent management umbrella (Lockwood, n.d). The responsibility for executing successful planning differs, starting with Human capital, then senior management, CEO, Chief Operating Officer, (Lockwood, n.d). According to Miller-Merrel 2014 the benefit of succession plan includes: o Ensuring continuity in case a particular employee resigns retires or gets dismissed. o It creates a foundation of qualified and capable individuals in the company o It helps in maintaining the strategic plan o It is a commitment from the company to develop a career path for individual employees o It creates an external reputation that the company develops the employee o It portrays the message that employees are important to the company.

2.7 Main factors affecting talent management According to authors Hatum, 2010, Schuler, Jackson & Tarique 2011, the main factors affecting talent management are as follows o Globalisation- this provides companies as well employees with new prospects and at the same time it makes more diverse and integrate, competition is more strong, complex and extremely widespread. o The knowledge economy- knowledge is used as the greatest significant source of the company’s competitive advantage, it is against this background that knowledgeable workers are becoming strategically important for organization. o Changing the world of work- this is described by creating new forms of work as well as new jobs, also by the imbalance between the required and available skills, by the scarcity of high-skilled worker, by the increase in the global and simulated workforce. In today work life is characterized by difficulty, randomness and uncertainty. o Demographic changes- are accumulating in the age profile of the workforce (ageing staffs generation Y and younger generations) and in the structure of the staff (increasing diversity, different skill sets, varied expectation). o Technology- makes the world faster and more connected and it has a significant effect on offices and the staff.

3. Findings 3.1 Inclusive vs Exclusive approach Inclusive approach is an approach whereby everyone is regarded as a talented employee, this simply means that all employees have the right combinations of inborn abilities which are complemented by the knowledge, skills, experience and competencies that is required to give the sterling performance in a specific situation. Exclusive approach is an approach whereby a talented employee represents an extra ordinary efficient employee with a high potential who can make a significant contribution to the organization. Erongo RED is using both approaches inclusive and exclusive approaches of talent management. In terms of exclusive the company is making use performance management system as a practice whereby only employees from job grading C1 and above are introduced to performance management program which is aimed at assessing and evaluating employee’s performance in order to meet their targets. While on the other hand the company also applies inclusivity whereby it accords all its employees irregardless of job grading, skills, educational background etc. equal chances of training and development, study aids, mentoring and coaching. The following table is a sample used by Erongo RED to assess employee performance. Item Description Key performance Area (KPA’S) Key functions that one need to perform Measures/Performance Indicators Indicators that will show that the task is done Baseline Baseline should also be indicated Target Percentage that is being targeted Actual achieved Actual percentage achieved Weighting The weight allocated to the specific task Rating Rating given by the person doing the assessment Score Final score Source: Erongo RED

3.2 Benefits of inclusive approach Inclusive approach benefits Erongo RED in the following manner: 1) It gives an opportunity to employees show their potential through performance 2) Everyone is deeming to have talent of some sort and should therefore have access to programme that develops their talent. 3) Erongo RED targets a small group, focus on them and expose them to training in order to develop them.

3.3 Benefits of exclusive approach Erongo RED decided to adopt exclusive approach due to the following benefits: 1) It gives the company the ability to focus on the succession plan for the company as well as ensuring that there are available future leaders for the company. 2) It helps the company to target resources and also be able to effectively monitor return on investment. 3) It helps the company promote as well development of the employees within the talent pools

3.4 Potential Barrier to exclusive approach Potential barrier to inclusive approach that Erongo RED is currently facing especially to young generation is the fact in many instances people tent to leave the company the after they are trained.

3.5 Talent Management practices being applied by Erongo RED

Source: Erongo RED Talent management Policy Document

3.6 Effective the application of talent management practices in Erongo RED Despite talent management being a new concept, the application and practice is becoming very effective in Erongo RED. Erongo RED has managed to develop talent for its employees in various ways and is still continuing. Initiatives by the company includes: Organisational Development initiatives when it comes to training, Performance management, Graduate programme, Levels upgrade for Electricians, the recent investment in renewable energy, Management Development Program for the middle management, succession planning etc. 3.7 Diversity consideration for talent management practices at Erongo RED Erongo RED talent pool is diverse in terms of the following: o Age o Gender o Education background o Skills and expertise o Culture Erongo RED concentrates on age as well as gender in order to give them boost as well as exposure. In terms of gender Erongo RED employs a number of women in technical and electrical positions for example, 3 female electricians, 2 female Meter Readers and 2 female Control center technician’s positions which are traditionally known for male employees. The company has also developed quite a number of females and are now 6 female employees occupying senior management positions. In terms of age Erongo RED has managed to secure the employment of a young, visionary and ambitious 44 year old Chief Executive Officer with qualification in Electrical Engineering as well as Master of Business Leadership. The executive team is also diverse with different skills which are not only technical but those that relate to diversity, ethnicity as well as cultural diversity.

3.8 Drivers of Talent Management in Erongo RED Talent Management in Erongo RED is driven by Executive management and the Board of Directors. 3.9 Stakeholders in the talent management practice and effectiness of their roles. 3.9.1 Executive management The executive management (EXCO) of Erongo RED is the main driver of the talent management strategy. They ensure that talent management is aligned with the corporate strategy. They also approve strategies in terms of talent management e.g policies, provides finance as well as ensuring that there is correct technology sufficient to drive the initiatives. 3.9.2 Human Resource management Human resource plays a very crucial role in talent management process ranging from talent seeking i.e. advertising, short listing, interviews, recruitments, promotions, Training and development etc. They facilitate most of talent management processes as well as policy formulation. 3.9.3 Line managers Line managers in Erongo RED identify the need within their respective divisions as well as the skills and capabilities required from people in order to perform their duties. Line managers also motivate as well as give employee support. 3.9.4 Employees Employees are the ones that are required to perform, they are key players. Employees are positioned into positions according to their level of experiences, education as level expertise. Employees take ownership and are responsible for their actions, seek out clear and frank interaction with other employees, show confidence through their performances, they learn how to be leaders and develop leadership capabilities for themselves.

3.10 Metrics being applied by Erongo RED

3.11 Erongo RED strategic approach toward talent management. Is talent management aligned with the business strategy? Erongo RED follows a strategic approach toward talent management as illustrated in the table below:

Alignment of talent management with Business strategy at Erongo RED Objectives KPI Measurement Critical task/ Strategic initiative Target date P1 Transform the organizational culture % Achievement on annual Cultural value Survey % Staff Achieving performance Targets P1.1 Facilitate Annual Culture and implement improvement strategy P1.2 Implemented and roll-out employee wellness plan P1.2.1 Review and update IDP’s as per new targets P1.2.2 Implementation 80% June 2016

P2 Implement Empowerment and Retention strategies for staff (5%) % Staff turnover Implementation of HRDP/IDP P2.2 Attraction/Succession and Retention Policy P2.2.1 Implement Annual competency Based Training & Development strategy P2.2.2 IDP’s (Training & Development interventions aligned June 2016

June 2016 Source: Erongo RED 4. Discussion 4.1 Inclusive and Exclusive approach In terms in terms of inclusivity, the company values the contribution of all the employees in such a way that they all contribute to the objective of the overall objective of the organization. Erongo RED gives equal opportunities to all employees in terms of developing employee’s skills through various trainings. The company is also assisting those who do not perform by offering training as well as motivation. Erongo RED has different targeted programs from as low as cleaners and clerks. Erongo RED has also recently trained all its middle management, by sent them for Management Development programme (MDP), therefore this group of about 20 employees was exposed to MDP training for about six month in order to develop their management talent, therefore they did not select specific managers but included the whole group of middle management. This is in line with the literature by Ready & Conger 2007 who defined talent as a group of employees with an average knowhow and skills and are prepared to be promoted to executive positions thus are regarded as best employees in the organization. All the middle management is regarded as potential employees that why they were all given equal chance. In terms of exclusivity approach Erongo RED has demonstrated this by only implementing performance management system to the staff from C1 and above. Employees performance is being monitored, measured, they are given targets that they are supposed to meet and given responsibilities. Erongo RED is also practicing exclusivity or elitist approach whereby it reserves the talent for high-value and high performing staff. Erongo RED is interested more in developing the talent of the staff the individuals of which it sees potential for growth as well as potential for better contribution to the effectiveness of the growth of the company. These are the people that are regarded as future leaders or employees with potential that can take the company to the next level. Therefore, they identify these people and expose them to various trainings and so as to give them potential for growth. All this is done through performance appraisals. The company applies exclusivity approach mostly to the staff in its core business units which is Network Operations as well as Network Engineering. The aim of this is to ensure that it has enough qualified Engineers as well as Electricians. Erongo RED also uses this to create leadership roles, succession planning as well as a mean of retaining high performing staff. They expose lower staff level to key Management meetings and initiatives for example acting in high capacity when incumbents are on leave. Erongo RED also does mentoring for graduate trainees. 4.2 Benefits of Inclusive and exclusive approach Inclusive gives employees equal chances to show their potential, but only those who are exceed the threshold will be included in a talent programme. Erongo RED gives equal opportunity to all employees by according them with job opportunity, on the job training, necessary equipment needed and all the support needed to perform their job to the best of their ability. When this approach is being used this means that every employee will then be for example partake in performance management. This will benefit the organization in the fact that all employees as low as the cleaner will start to take responsibility for their action as they know that their performance is being monitored and evaluated at the end of the day. Any development initiative targeted by the company will then be benefiting all employees as well as remuneration strategy. The objective exclusive approach is mainly to enable the company to attract high caliber candidates and to retain high flyers and employees in roles which are regarded as specific or skills shortage areas. Without these roles the company would be unable to proficiently meet its company objectives. Erongo performs workforce projections data and demographic analysis in order to establish risk area, whereby risk analysis is performed in order to compare current and future vacancies in order to determine critical position in the company. 4.3 Potential Barrier to Inclusive and exclusive approach Potential barrier to inclusive and exclusive approach that Erongo RED is currently facing especially to young generation is the fact in many instances people tent to leave the company the after they are trained. One of the biggest problem to constraint Erongo RED to two approaches is the fact that most employees especially the generation Y people born between 1980 and 2000 are changing employment constantly therefore they tend to leave employment as soon as they are trained therefore this constraints Erongo RED to inclusive approach as it is investing a lot without necessarily getting any return on investment. 4.4 Talent Management practices at Erongo RED 4.4.1 Strategy There is an alignment between the human capital division of Erongo RED and the Business strategy which recognizes the importance of talented employees which highly contributes to the achievements of long term objectives of the company. There are activities which involves culture transformation that ensures facilitation of annual cultural survey, implementation of employee wellness plan, review of Individual Development Plan as well as updating of employees profiles. The alignment of the talent management to the business strategy also includes the Implementation of Empowerment and Retention strategies. This ensures talent attraction, succession plan and Retention policies are in place. 4.4.2 Talent seeking When it comes to talent seeking Erongo RED first put strategy in place in order to identify competencies and key critical roles and skills that are required. It also performs annual workforce planning reviews, offer bursaries as well as job attachments for interns. 4.4.3 Recruitment and Promotion Recruiting a best talent is very critical for any company. Research shows that it is estimated that high performer are 10 to 100 times equal to the person’s compensation. Therefore recruiting a best talent on a single person per year has a great potential to increase the company’s revenue from 1 million to 10 million per year. This is Erongo RED’s philosophy. 4.4.4 Performance Management Erongo RED have a performance management system in place whereby all employees from C1 and above have all signed performance contracts indicating their Key Performance Areas as well as targets that they are expected to achieve in those area. Performance is then assessed every 6 month in order to determine if they are reaching the targets that they have indicated. This is very effective because it gives people that sense of ownership, when you sign for something then you know that it becomes your responsibility and when it is not completed on time and you know very well it is you to be blamed. This also enable alignment of strategy to basic operational needs and requirements. 4.4.5 Talent Development In terms of talent development Erongo RED is investing a lot in training and development for its employees. Erongo RED is offering financial assistance to its employees who would like to further their studies in order to obtain formal qualifications as well as those who would like to purse in-service training as well as pre service training. Apart from that the company is develop the talent of its employees whereby for instance if there is an open position and a certain employees identified to have potential qualities and capabilities to fill that position, even if that specific employee does not have the required experience but have the minimum qualification or vice versa this employee can be given a chance then the company will help this employee to fill in the gap so as to develop the required skills. For example: If a manager is hired due to the exposure in the specific division this manager can be sent for Management training program just to prepare for management skills. Other initiatives includes: sending employees to seminars, skills upgrades for Electricians at Namibia Institute of Mining Technology, offering bursaries to students in the field of Electrical Engineering and Information Technology and study aids. The main objective of talent management as mentioned in the literature is to developing individuals as well as growing future senior managers, therefore Erongo RED does this in order to ensure that it prepare its employees for future leadership positions.

4.4.6 Critical skills gap analysis Erongo RED does critical skill gap analysis this help the management in compiling the skill record of critical and uncommon skills that have the potential of affecting the current as well as future business performance capability. They also recognize the skills development needs of talents pools in the company thus make it easy for management to develop as well as implementing an effective Human Resource Development strategy. 4.4.7 Connection of team goals to corporate goals Strategic goals in Erongo RED are cascaded to all business units and each business unit has strategic objectives that are linked to overall company objectives so that employees and business units are not working in silos. 4.4.8 Talent Retention It is the responsibility of every supervisor in Erongo RED to take ownership and retain the talent for the people under s/he supervision. Superiors at Erongo RED are advised to maintain that the company does not lose the talented employees. Supervisors can either provide these talented employees with other opportunities so that their talents are not lost. Erongo RED is one of few companies that have best remuneration and benefit structures which the company provides far beyond the market. Included in the benefits is the 100% subsided medical aid for member plus five dependants. These are some of many retention strategies that the company has employed. Erongo RED has thus managed to retain for quite a long time the skill of its many employees especially those in critical positions for example Engineers and Electricians. Various training development opportunities are also part of the company’s retention strategy. In the literature we read that in order to attract as well as to retain talent for compatibility, there should be the fit between the employer and employee, Lockwood (n.d), therefore this imply that Erongo RED is trying by all means to ensure that there is a fit between Erongo RED its employees.

4.4.9 Workforce productivity Erongo RED continuously tries to improve as well as become efficient and effective and try to identify and track the leading indicators of workforce productivity. The company measures the amount of quality or work that employees have performed within a specific period. This is labour productivity and performance is monitored through the process of performance management. At the end of the day overall productivity should reflect in the income statement of the company. 4.4.10 Succession Planning Succession planning is one of the key tools that the company has if it wants to develop leadership capability of high-potential employees. Erongo RED have registered two of its Executive management into the Executive Management Development Programme (EMDP), this is a way to prepare the top members of the executive management for the top position in the company. Exposing lower level staff to strategic meetings or give them opportunities to act in high capacity are also efforts for succession planning. All these are agrees with Miller-Merrel 2014, who mentioned that ensuring continuity in case a particular employee resigns, retires or get dismissed as one of the benefits of succession planning. Organisations should have future leaders who are capable of driving their business plans forward. Therefore approach to talent management should start with the strategy and concludes with purified individuals and leadership plan. 4.4.11 Organisational Culture Erongo RED is having a culture team committee which handles all organizational cultural aspects. A recent cultural survey which was conducted shows a drop in ENTROPY level of Erongo RED from 35 to 15 at the moment. In order to ensure change in organizational culture the following changes has been done at Erongo RED: Readiness for change Articulate a strong business case for change, engagement session with stakeholders (union, board, EXCO and staff members), culture change: embark on culture change journey to enable new strategy and vision. Leadership changes: The company has got new CEO & Board of directors, reshuffling of senior management, realignment of managers through a process of dialogue and coaching. Engaged staff to discuss results Discussion sessions in order to explain results, unpack issues, brainstorm solutions & interventions to get buy-in for change ahead as well as identifying quick wins too get buy-in and build trust and reduce resistance. 4.4.12 Finance Measures In Erongo RED employees are regarded as valuable assets as well as greatest investment. In any organization it is a big challenge to attract as well as retaining high performing employees. When employee leaves the organization a valuable part of the company investment is lost. Therefore Erongo RED uses the following information in order to determine the Employee Turnover rate (the cost of losing the valuable talent) in order to see how can they strengthen their retention strategy. o Number of employees who currently in those positions o Annual percentage of turnover in that same position o Annual compensation in that position o Average tax and benefit cost calculated as percentage of salary o Average number of candidates interviewed since the inception o Average number of candidates assessed since inception

...(download the rest of the essay above)

Discover more:

• Human resource management essays

Recommended for you

• How can ARM attract talent to effectively compete in the Microchip design industry?
• How Human Resource Management Shapes the Success of Organizations
• Human resource management: policies and procedures

About this essay:

If you use part of this page in your own work, you need to provide a citation, as follows:

Essay Sauce, Talent management . Available from:<https://www.essaysauce.com/management-essays/talent-management/> [Accessed 12-05-24].

These Management essays have been submitted to us by students in order to help you with your studies.

* This essay may have been previously published on Essay.uk.com at an earlier date.

Essay Categories:

• Accounting essays
• Architecture essays
• Business essays
• Computer science essays
• Criminology essays
• Economics essays
• Education essays
• Engineering essays
• English language essays
• Environmental studies essays
• Essay examples
• Finance essays
• Geography essays
• Health essays
• History essays
• Hospitality and tourism essays
• Human rights essays
• Information technology essays
• International relations
• Leadership essays
• Linguistics essays
• Literature essays
• Management essays
• Marketing essays
• Mathematics essays
• Media essays
• Medicine essays
• Military essays
• Miscellaneous essays
• Music Essays
• Nursing essays
• Philosophy essays
• Photography and arts essays
• Politics essays
• Project management essays
• Psychology essays
• Religious studies and theology essays
• Sample essays
• Science essays
• Social work essays
• Sociology essays
• Sports essays
• Types of essay
• Zoology essays

Youth Unemployment in UK and Talent Management Challenges Essay

The economic recession that began in 2007 continues to affect a great number of U.K. businesses and one of its effects is the decrease in the number of jobs available to young people. The situation becomes particularly challenging for them since many employers value the experience of candidates (UK Commission for Employment and Skills 2012, p. 4).

Furthermore, one should note that the economic downturn and competition force many companies to reduce their labor costs. Therefore, it may be difficult for some of the candidates to retain their jobs. These are the main aspects of economic climate.

There are several trends of youth unemployment that one can identify. First of all, it should be noted that young people are traditionally occupied in sales or elementary jobs (UK Commission for Employment and Skills 2012, p. 4). Yet, the number of such jobs has significantly decreased within the last decade. The second trend is the growing number of small businesses.

To some extent, it is a positive tendency because it leads to job creation. Nevertheless, these organizations usually focus on the experience of a professional. Furthermore, one should note that young people often need informal relations with in order to secure employment (UK Commission for Employment and Skills 2012, p. 4).

Additionally, young people, who continue their education, are less likely to be employed because companies usually require full commitment of their workers (UK Commission for Employment and Skills 2007, p. 12). These are the main tendencies that are important for explaining youth unemployment.

It is important to discuss the education of young people and the expectations of employers. First of all, schools and colleges can give a person a set of skills that are necessary for a certain profession. Furthermore, good education ensures that a graduate can acquire new skills in the course of his/her career.

Overall, the majority of companies are satisfied with way in which educational institutions prepare young people for work (HM Government 2012, p. 7). Nevertheless, companies expect new hires to integrate into the organization as quickly as possible. An employee can do it provided that he/she has previous working experience. Furthermore, they expect full commitment and motivation of every worker.

It should be noted that some of the companies attempt to increase the percentage of young employees. These organizations normally work in such sectors as manufacturing, public administration, education and healthcare (The Chartered Institute of Personnel and Development 2011, p. 1).

Certainly, these organizations also value experience of potential candidates, but they also value the ability of an employee to bring innovations. This is why they hire young candidates.

Companies adopt several strategies in order to recruit the most talented candidates among young people. First of all, one can speak about graduate programs that are supposed to identify potential candidates even before they start searching for a job (The Chartered Institute of Personnel and Development 2012, p. 16).

Furthermore, many organizations prefer to hire interns who have not yet graduated (The Chartered Institute of Personnel and Development 2012, p. 16). These strategies increase the opportunities that young people have.

However, one should note that such practices are adopted by large organizations that have the resources to implement such programs. For instance, one can mention IT companies, hospitals, or public agencies. Yet, one cannot say the same thing about small businesses.

HM Government 2012, Supporting youth employment , HM Government, London.

The Chartered Institute of Personnel and Development 2011, Labor Market Outlook: Young People. The Chartered Institute of Personnel and Development, London.

The Chartered Institute of Personnel and Development 2012, Annual Survey Report, Resourcing and Talent Planning, The Chartered Institute of Personnel and Development, London.

UK Commission for Employment and Skills 2007, Youth Inquiry Evidence Base, UK Commission for Employment and Skills, London.

UK Commission for Employment and Skills 2012, The Youth Employment Challenge. Web.

• Chicago (A-D)
• Chicago (N-B)

IvyPanda. (2023, December 26). Youth Unemployment in UK and Talent Management Challenges. https://ivypanda.com/essays/youth-unemployment-in-uk-and-talent-management-challenges/

"Youth Unemployment in UK and Talent Management Challenges." IvyPanda , 26 Dec. 2023, ivypanda.com/essays/youth-unemployment-in-uk-and-talent-management-challenges/.

IvyPanda . (2023) 'Youth Unemployment in UK and Talent Management Challenges'. 26 December.

IvyPanda . 2023. "Youth Unemployment in UK and Talent Management Challenges." December 26, 2023. https://ivypanda.com/essays/youth-unemployment-in-uk-and-talent-management-challenges/.

1. IvyPanda . "Youth Unemployment in UK and Talent Management Challenges." December 26, 2023. https://ivypanda.com/essays/youth-unemployment-in-uk-and-talent-management-challenges/.

Bibliography

IvyPanda . "Youth Unemployment in UK and Talent Management Challenges." December 26, 2023. https://ivypanda.com/essays/youth-unemployment-in-uk-and-talent-management-challenges/.

• People resourcing and talent management
• Google Inc.'s Measuring and Retaining Talent
• Youth Unemployment as a Social Issue
• The Individual and Leadership
• HRM Practices and Key Points
• Leadership in the United Arab Emirates
• Employee Training Programs
• Human Resource Training Efficacy

Topic: Employee Experience

Appreciating the Talent You Already Have

How employee recognition can complement upskilling and reskilling programs.

Updated on 

April 4, 2024

‍ Whether it’s due to a Great Resignation or recession, when companies are unable to find and acquire new talent, reskilling and upskilling current employees may be the best talent acquisition strategy.

Reskilling (helping employees build a different set of skills to perform a new or changed role) and upskilling (helping employees improve skills to do their existing jobs) are both useful ways to meet the skills gaps that come with the evolving workplace.

Disruptions like new technology, industry innovations, an evolving workplace environment, and new client demands call for an updated set of skills in order for companies to be successful. And, in the midst of talent shortages or hiring freezes, reskilling and upskilling employees can help retain top talent and build the skills required to meet these new challenges and demands. They also help to prevent the loss of invaluable company knowledge and lead to a more resilient workforce overall.

World Economic Forum says within the next 5 years, up to 50% of employees will need some type of reskilling to perform effectively. 87% of executives are already experiencing skills gaps in their workplace (or expect them within the next few years), and 73% of employers said reskilling was a main priority for them. 77% of respondents to Deloitte’s Global Human Capital Trends survey are leaning towards training existing employees instead of accessing new talent .

The most successful reskilling and upskilling initiatives require a combined effort from employers and their employees. Companies that work with their people to help them learn and develop have employees who feel a higher sense of growth, opportunity, and mastery. 94% of employees would stay at a company if it helped them develop, yet only about half of employees feel their organisation provides opportunities for career advancement, learning, or growth. And while mastery is a basic psychological need that all employees have (along with autonomy and connection), only 51% say their need for mastery is satisfied at work. When companies work with employees to reskill and upskill, it demonstrates they value and care for their people.

“Our learning philosophy is to build a culture that enables each employee to unleash talent, experiment and contribute productively and collectively to organisation success… Reskilling of employees in the area of creativity, customer centricity, and other relevant skills will become crucial.” –ANANT GOENKA, MANAGING DIRECTOR, CEAT                                    

See how CEAT uses employee recognition in partnership with their career development efforts.

Recognition plays an important role in employee development

As companies are reskilling and upskilling their people, they should leverage recognition to reinforce employee growth and development. Recognition goes hand-in-hand with career development in a company’s overall talent management strategy as a way to show employees are valued at the organisation.

Recognition acknowledges employee contributions. It highlights employee achievements and calls out their unique and individual skills, talents, and experiences. It connects employees to the company’s purpose, their teams, and their leaders. Recognition communicates employees are seen, valued, and making a difference at their organizations.

When companies pair employee recognition efforts with their development programs, it communicates to employees that the company values them and their work—and wants to invest in their growth, development, and success.

Employee recognition increases the likelihood an employee’s psychological need for mastery is satisfied by 201%.                       –2022 Global Culture Report, O.C. Tanner Institute                                        

3 ways to use recognition to complement reskilling and career development

1. encourage learning new skills along the way..

Employees should be encouraged for their efforts to learn new skills while they are learning them, not just upon completion. When organizations support learning efforts along the way and work with employees to grow together, employees no longer feel they are doing it all on their own. They feel the company is invested in their development and wants them to succeed. Recognizing their progress along the way by encouraging their learning efforts motivates them to keep going.

Both formal and informal recognition through your company’s recognition program, like Culture Cloud , can be an effective way to encourage employees. Give recognition when employees complete micro steps in their training rather than waiting until they complete the entire program. Tie the recognition to specific training to reinforce those educational goals along with your company’s purpose. Embed recognition tools into your learning and development tools to easily recognise in a timely manner as employees complete training milestones and add to their skillsets.  

Recognition is also important for those who are helping employees learn and develop—such as mentors in mentorship programs or peers who are helping with reskilling or cross training. When companies provide formal mentorship opportunities, employees are 56% more likely to say they learn new and valuable things in their role. recognise mentors and peers for their work in developing employees and give mentees the tools and empowerment to recognise and thank the mentors and peers who helped them.

Modern leaders also act as mentors and advocate for employee development outside of a formal mentorship program. They connect employees to meaningful growth opportunities, purpose, and others in the organisation. When companies provide opportunities at work to build relationships and connect, employees are 106% more likely to feel a sense of opportunity at work. Ensure those leaders who are practicing modern leadership and helping employees grow and develop also get recognized for their efforts.

2. recognise WHEN EMPLOYEES LEARN A NEW SKILL OR PARTICIPATE IN A SPECIAL PROJECT.

In addition to formal training and development, special projects are an effective way for employees to learn, develop, and utilize their new skills. Being chosen to participate in a special project communicates that employees are valued and skilled enough to contribute meaningfully. It not only provides opportunities to learn (and practice) new knowledge and skills, but it also gives them visibility to other leaders and peers in the company they may not normally work with, helping to boost networking and strengthen the overall sense of opportunity at work.

Special projects do double duty to develop employees and also connect them with the broader organisation and provide a greater sense of purpose and belonging. Employees can see how their work impacts other areas of the company. Special projects can also be an underutilized tool in reskilling workers. Only 49% of employees have worked on a special project at their organisation, and only 30% feel empowered to. Yet when employees participate in a special project they:

• are 50% more likely to believe they learn new and valuable things in their current role
• have a 26% increased sense of opportunity
• are 31% more likely to stay at the organisation
• are 38% more likely to be willing to put in a great deal of effort at work

Recognition is crucial when an employee completes a special project, a formal training, or learns a new skill. Recognizing when an employee completes a reskilling or upskilling milestone demonstrates that the company and leaders find their development to be important. Without noticing or acknowledging that an employee has completed a special project or training, companies miss an opportunity to demonstrate the value of the employee and their new skills. Unfortunately, only 48% of employees received any recognition for the contributions they make to special projects. Recognition tools like Culture Cloud can help leaders easily and immediately give recognition to employees after they complete a specific certification or training, when they finish a special project, or when they’ve expanded their skills.

3. SEND SPECIAL RECOGNITION TO WELCOME EMPLOYEES INTO THEIR NEW OR EXPANDED ROLES.

Onboarding isn’t just for new hires. When employees upskill or reskill and move into new roles or departments, it’s equally important to recognise the work they’ve contributed in their previous roles, celebrate their new skills growth, and welcome them to their new teams.

Just as we celebrate various types of milestones in our personal lives, companies should celebrate life events at work. This includes promotions and service anniversaries but can also include expanding their skills, earning certifications and degrees, and changing roles, departments, or locations.

“Success is better when it’s shared.”  –HOWARD SHULTZ, CHAIRMAN AND CEO, STARBUCKS                                    

Send employees special recognition when they’ve expanded their skills, completed a substantial training, or moved into a new role or department. Recognition that builds connection to the organisation, purpose, and team is best. Some companies give a symbolic award and formal recognition, while others take employees out to lunch or host a team celebration. Swag boxes filled with fun and meaningful symbolic company gifts are a great way to celebrate employees and also strengthen connection to the company and one another. When done well, they reflect your company culture, convey appreciation, build belonging, surprise and delight employees after their hard work of building skills, and are a memorable way to celebrate employees as they grow.

Lifelong learning can give employees purpose and meaning in their lives, both at work and outside of work. Reskilling and upskilling are important ways to provide growth and development for your people. As they advance, appreciating and recognizing determined employees for their growth helps cement and reinforce the importance of the employee, their skills, and their contributions to the company.

Celebrate learning milestones, career advancements, daily achievements. See how Culture Cloud can help.

Thriving Together: Cultivating a Supportive Work Environment for Mental Health and Wellbeing

Get expert insights to help you create a workplace environment where employees feel valued and supported in their journey towards holistic wellness.

Employee Experience

Achieving Equitable Flexibility: The 5 Elements at the Core of Successful Workplace Flexibility

Learn about flexibility in the workplace, including the ways employees define it and the impact it can have on key business outcomes.

Why You Should Invest in Employee Experience Now

Why should you invest in your employee experience? A better workplace culture, more innovation, higher productivity, and greater success.

• Login To RMS System
• About JETIR URP
• About All Approval and Licence
• Conference/Special Issue Proposal
• Book and Dissertation/Thesis Publication
• How start New Journal & Software
• Best Papers Award
• Mission and Vision
• Reviewer Board
• Join JETIR URP
• Call For Paper
• Research Areas
• Publication Guidelines
• Sample Paper Format
• Submit Paper Online
• Processing Charges
• Hard Copy and DOI Charges
• Check Your Paper Status
• Current Issue
• Past Issues
• Special Issues
• Conference Proposal
• Recent Conference
• Published Thesis

Contact Us Click Here

Whatsapp contact click here, published in:.

Volume 11 Issue 5 May-2024 eISSN: 2349-5162

UGC and ISSN approved 7.95 impact factor UGC Approved Journal no 63975

Unique identifier.

Published Paper ID: JETIRTHE2113

Registration ID: 539632

Page Number

Post-publication.

• Downlaod eCertificate, Confirmation Letter
• editor board member
• JETIR front page
• Journal Back Page
• UGC Approval 14 June W.e.f of CARE List UGC Approved Journal no 63975

Share This Article

Important links:.

• Call for Paper
• Submit Manuscript online

• ADITYA BAWA
• SHAMBHAV SUMAN
• AKSHITA ROHILLA

Cite This Article

2349-5162 | Impact Factor 7.95 Calculate by Google Scholar An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 7.95 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Publication Details

Download paper / preview article.

Download Paper

Preview this article, download pdf, print this page.

Impact Factor:

Impact factor calculation click here current call for paper, call for paper cilck here for more info important links:.

• Follow Us on

• Developed by JETIR

• Click to view our Accessibility Policy
• Skip to content

Oracle Introduces New AI-Powered Skills Solution to Help Organizations Drive Employee and Business Growth

New solution within Oracle Cloud HCM helps leadership teams maximize talent potential and align upskilling with business priorities

Oracle today announced a new AI-powered upskilling solution within Oracle Grow , part of the Oracle ME employee experience platform within Oracle Fusion Cloud Human Capital Management (HCM) . Oracle Grow for Business Leaders supports employee development and strengthens organizational agility by helping business leaders quickly develop, upskill, and empower their teams to better achieve business outcomes.

“Today’s fast-paced market has created a continuously moving target around business outcomes and the skills needed to achieve them. To maximize talent potential and business success in this environment, business leaders need the tools to upskill their teams quickly and efficiently,” said Chris Leone, executive vice president, applications development, Oracle. “Oracle Grow for Business Leaders addresses this need and gives business leaders the ability to find the right people and successfully align skills and business strategy.”

Oracle Grow for Business Leaders connects all talent information from across the enterprise to provide leaders with a unified solution to effectively support skills development, maximize employee growth, and improve business success. The new AI-powered upskilling solution includes:

• Leadership-Driven Role Guides: Helps business leaders ensure critical needs are met with the right talent and skills by creating prescriptive guides that give employees clear guidance to align themselves with strategic outcomes. The new guides leverage AI-powered skills recommendations and generative AI capabilities to help leaders quickly detail the purpose and goals of the strategic roles and identify the necessary resources to help employees achieve success in each role, such as training, required reading, or mentors.
• Centralized Leader Dashboard: Improves business leader agility with real-time visibility into development progress against role guides, specific skills and qualifications, and the overall skills of their business. The new dashboard leverages AI-powered insights from across the suite to help leaders proactively track skills progression by department, business unit, position, or person; identify emerging gaps; and monitor the organization’s progress in meeting business outcomes.
• Enhanced Workforce Transparency for Strategic Roles: Enables business leaders to better help employees grow and develop their careers by incorporating role guides directly within an individual’s personalized Oracle Grow feed. This gives employees full transparency into the expectations from their leadership and delivers AI-powered recommendations on specific tasks, skills, and training needed to meet key business needs.
• Innovative Internal Mobility: Enables business leaders to maximize internal mobility and discover the right talent faster by incorporating role guides into Opportunity Marketplace , an internal talent marketplace within Oracle Cloud HCM. The new addition leverages AI-powered recommendations to go beyond standard internal job or project postings and helps employees discover new career path opportunities while giving business leaders the visibility they need to find the right talent and skills within their team or the broader organization.
• Skills Aggregation Platform: Accelerates an organization’s adoption of skills-based talent practices through the Oracle Dynamic Skills Platform , a robust skills aggregation platform that enables a single skills infrastructure fully unified with people and work data wherever it exists. Directly embedded in Oracle Grow, Oracle Dynamic Skills Platform provides an extensive library of seeded skills, consolidates an organization’s existing or third-party skills data, and delivers AI-driven recommendations to power talent intelligence, experiences, and practices.

“With the demand for new skills evolving at such a rapid pace, organizations need to reevaluate their upskilling strategies in order to meet key business goals,” said Trish Steed, CEO and principal analyst, H3 HR Advisors. “Oracle has proven investments in the skills marketplace, and with the introduction of Oracle Grow for Business Leaders, they are now delivering a truly complete upskilling solution for employees, business leaders, and HR professionals. Powered by AI and machine learning capabilities, this new solution is making talent management more simple, efficient, and effective.”

Oracle Grow dynamically connects learning, skills growth, and career mobility in one hyper-personalized development experience. The addition of Oracle Grow for Business Leaders further drives employee and business growth by empowering employees to maximize their potential and helping leaders align upskilling with business outcomes. It also empowers HR with unparalleled insights into the supply and demand of skills and development resources across the enterprise, to strengthen people initiatives, optimize workforce investments, and improve business outcomes.

Built for the cloud, Oracle Cloud HCM is a complete solution connecting every human resource process from hire to retire across an organization with a native employee experience platform. By connecting all employee data on a single platform, HR teams have access to a single source of truth to help inform their people strategy. In addition, built-in AI acts as an advisor to help analyze workforce data, generate content, and surface recommendations and critical insights to help improve business operations.

To learn more about Oracle Cloud HCM, please visit: oracle.com/human-capital-management

Contact Info

Shasta dentone.

• [email protected]
• +1.503.560.0756

About Oracle

Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com .

Oracle, Java, MySQL and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.

Latest Newsfeed

• Oracle Increases Research and Development Investments in Morocco May 9, 2024
• Oracle Introduces New AI-Powered Skills Solution to Help Organizations Drive Employee and Business Growth May 8, 2024
• Oracle Code Assist Can Help Developers Build Applications Faster with AI May 7, 2024
• Oracle Named a Leader in 2024 Gartner® Magic Quadrant™ for Supply Chain Planning Solutions May 7, 2024
• Oracle Primavera P6 and Unifier Achieve UK Cyber Essentials Accreditation May 7, 2024

Quick Links: Tools and Resources

• Media Contacts
• Oracle Corporate Facts
• Upcoming Events
• Investor Relations
• Analyst Reports