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Talent Management Institute is the world's largest certification and credentialing body for HR, HCM and Learning Management Professionals, across 178 countries and 7000+ locations.
Performance and Talent Management Solutions- Key Drivers to Revenue Growth
Today, performance and talent management solutions are increasingly becoming one of the biggest new investments in the Human resources. More and more companies are coming forward with big spends in this area. The reason for this shift in approach is pretty clear- When compared to the general industry norms, performance and talent management solutions have proved to give higher financial returns. A number of recent studies have established a clear relationship between the human capital management and a superior revenue growth. Performance management and improved human resource efficiency have proved to bear a direct relationship with an improved business performance and revenues going up about 2-3%.
• Incentivizing top performers-: Reducing costs should not be the only goal of a business organization. Employees that have been performing well in their particular domains should be facilitated well and motivated to take on larger roles. Improved retention policies of companies, in the past, have not only reaped greater dividends but have also instilled a sense of confidence amongst the top performers which in turn leads to competitive sense in the less-effective lot. This pay-for-performance culture allows managers to reward individuals for improved performance and make decisions providing fair and proper compensation. Many companies Use employee skill testing processes to enable them to motivate employees to reach their maximum potential. This provides better results as addressing each individual’s needs in the organization creates a highly motivated workforce that will strive for the best as a whole.
Tags : talent management strategy Talent Management World of Talent Management Posted under : Human resources | Hits : 93 | Comments : 0
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