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Performance and Talent Management Solutions- Key Drivers to Revenue Growth

Posted on : 11/01/2017 18:07:00


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%.



There are primarily three ways in which talent management solutions can ensure the enterprise’s business performance and ultimately a higher revenue growth-:

•    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.

•    Alignment of workforce with the core business strategy-: An improved execution of corporate strategy within the enterprise certainly holds the key to a higher business performance. Motivating a workforce to achieve excellence is to align your talent management policies with company strategy, define consistent leadership and identify specific competencies to achieve continued growth. Also, by communicating goals clearly throughout the organization one creates an environment of transparency. Everyone works towards the same well-defined goals to give out better end results.

•    Creating highly-skilled internal talent pools-: The success of every organization is based on the performance levels and caliber of the employees. Hence it is of utmost importance to identify and manage the talent base from the recruitment pool.  The ones that do, know, that creating the right talent pool and accurate performance management is essential for precise execution of the business goals.

Therefore, it has become quite evident that the companies with proper talent management strategies and processes have better financial performance than those that do not employ them. The focus on creating efficient talent and performance management practices are critical to driving the revenue growth of any enterprise. Effective talent management practices have far-reaching consequences for the growth and advancement of an organization. One could, therefore, conclude that enterprises which maintain a focus on effective talent management will find their organizations better prepared for today’s business challenges and better placed to, therefore, achieve revenue gains.



Tags : talent management strategy   Talent Management   World of Talent Management    Posted under : Human resources | Hits : 32 | Comments : 0


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Niti Sharma


Member Since : 15 December 2016

My Blog has been visited 114 times
I have written 4 posts in all :)


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