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 : 34 | Comments : 0
Importance of CLO for Organizations
Posted on : 11/01/2017 12:07:28
Steve Kerr, VP of Leadership Development at GE, in 1990, on being promoted approached Jack Welch and joked I’m going to be CEO just like you. Welch responded with a laugh There’s only one of those at GE! You can be Chief Learning Officer. And here was how the World got its first (CLO) Chief Learning Officer. Fast-forward to 2017, and the Corporate is already starting to realize how important it is to have one. Gone are the days when one could have downplayed the need of any such position. Today if enterprises have weighed and most importantly understood the significance of a Learning Officer, it is for their own good.
The way businesses need to educate and train employees to empower them along their career paths continuously changes. To survive and progress in such an ever-changing environment, businesses need to continually manage and upgrade their learning modules and practices. A (CLO) Chief Learning Officer could be thought of as the person in charge of the corporate learning program for a company. CLO’s help to create strategies related to training, learning and development, all within the ambit of creating and sustaining the overall corporate culture. Their responsibilities often include: Developing an organization’s educational process, promoting knowledge management, Overseeing the latest technology, promoting the importance of learning etc and to provide a global learning environment and therefore identify and engage requirements of professionals so that they deliver and sustain effectively, tasks comparable to Chief Operating Officer jobs.
The reason why businesses seem to benefit from such a role is because there is always a need to educate and train employees in order to remain valid, growth-oriented and ‘set apart’ from other companies. Having a person in charge of making sure that a business is always in touch with what is going on in the world, and how to upgrade the business culture and talent pool skills successfully, makes it easier for the organization to adapt to the ‘outside’ growth. Having someone whose specific tasks include making sure that employees are constantly learning new ideas in the process of working is the only way one can strive to build and maintain a successful business.
The Industries that seem to have a Chief Learning Officer include those from Human Resources training, and information technology. Recent studies done to identify the various verticals of businesses that have learning officer jobs gave some results that were not surprising as most of them came from education, learning and HR services. But an 8.5% coming from the healthcare industry surely raised some eyebrows as one would not associate hospitals with a need of a learning officer. It is evident that nearly every Fortune 50 company has a chief learning officer- even if that’s not the current title being used. But more and more, the official job title is becoming mainstream. One could imagine CLO’s tasks as important as Chief Operating Officer jobs.
Therefore, It is about time that businesses and organizations take note of the ever-emerging market trends and assign that all-important task to a learning officer who in turn would make sure the enterprise stays on the right track!
Tags : chief learning officer learning officer clo chief learning officer chief learning officer magazine top clo Posted under : Human resources
| Hits : 17 | Comments : 0
Credentialing- What Is It & How It Can Help You
Posted on : 17/12/2016 11:15:18
Often this question is raised, what is that a credentialing company does? What is their work profile, or how do they operate? There are many explanations given, some justified, some not up to the mark. So, here are some simple answers explaining how this operates or works.
Credentialing is simply the procedure of evaluating the qualification of a professional. As time has progressed, the importance of credentialing has become refined & significant.
To make it easier to understand, credentialing is more like a verification of the experience & expertise that you’ve gathered on any chosen field. Now a days, it has become very common in almost all the fields for instance, healthcare, insurance, marketing, sales, research, and management to get certified. Various new industries are emerging in this digital age, which has created a demand for a whole new standard & certification.
When you step out of your house and hop in a cab, don’t you worry if the driver has a license or not. That License is basically a credential of his driving capabilities and certifies him to be eligible to drive on the road. Being certified has become the need of the hour, and credentialing companies are playing a major role in doing so. From helping in building a strong Resume to giving an edge to your profile, credentialing has become paperless over the years. Online certifications work the best these days and being ‘certified’ works in full favor of the professional. The industry has seen the rise of many credentialing companies, but lucky few have sustained and have occupied a prominent space in the market.
A credentialing company provides a certification or attestation to an individual or third parties competency to do a particular task/job. This industry has achieved a global status, thanks to the pro quo benefits they provide.
But what are the co-laterals that these credential companies work on?
Well, they provide certifications to everything possible, to professional working in MNC’s, government employee, students, or as a matter of fact to corporate bodies as well.
The skill gap between education & workforce is one of the reasons which has raised the importance of credentialing & further training. To meet the needs of the employers & industry, there are companies which have established their business in and around credentialing & additional certification. The use of credentials will eventually increase more skilled, competent & intellectual professionals entering the workforce.
The Importance of Credentialing:
For any company, it is very important to set up occupational standards which eventually helps in maintaining the company’s mission. Credentialing helps in various ways for instance –
• Helps in raising the standard of practice & level of professionalism of credentialed professionals.
• Improves the overall reputation & perception of the profession.
• Through globally recognized credentials the worker mobility is empowered.
• Offers consumers with certain assurance about the employees’ knowledge and skill.
• Enhances the good business practices which set the benchmark for the organization
To encourage and promote growth and have an impactful influence, credentialing is important for organizations & industry. Along with it, credentialing leads in significant & sustainable growth through its innovative & unique approaches. Now a days, even a small error can cost a lot to the organization. Now, here Credentialing can actually help you in such unfortunate situation.
The concept of credentialing has been here for a while but surely has gained momentum in the past few years. The need to be certified and approved of your competency has given a big leap to credentialing companies. It has become nearly impossible to find people who don’t have a certification to prove their mantle.
In short, a credentialing company has helped many to prove their professionalism in particular domains. And, this trend is going to spread like a wildfire soon.
Tags : Global certification industry certification standards standards development accreditation business certification professional certification organizational standards credentialing certification Posted under : Human resources
| Hits : 75 | Comments : 0
Why Will ‘Only Degree Holders’ Eat their Humble Pie?
Posted on : 15/12/2016 11:47:51
Professional credentials and certifications are—most probably—nowhere as important to professional growth and development as they are now in the Human Resources and Talent Management space. However, there are some valid reasons behind it. Reports of the Bureau of Labor Statistics project that the job prospect for HR managers will see an almost 9 percent growth over the period between 2014 and 2024—faster than the usual growth rate of other occupations. Adding to it is the growing war for talent, fast-paced globalization, and the emergence of HR leaders as business partners are slowly but surely bringing a shift to the corporate paradigm. These factors are ultimately compelling companies worldwide to scramble up and strengthen their HR/talent team. Against this backdrop, it seems that a simple college or university degree/diploma falls short of providing HR professionals the ‘much-needed wind’ beneath their wings. Here the edge now stems out only (and only) from good HR certification courses alone!
As opined by veteran HR and talent management professionals, HR certifications can provide this much-needed professional credibility and expertise than any college or university degree/diploma. Further, they help broaden up various advancement opportunities for talent management professionals. In terms of employers’ perspective, most of blue-chip companies prefer recruiting certified HR candidates, while some positions specifically demand HR certification.
For professionals—especially for newbies—having an HR certification is no longer an option. It’s a must! Because certifications enhance the probability of professionals success and testify to a professional’s broader scope of knowledge in this field.
In her article, ‘When a Degree Is Just the Beginning,’ Goldie Blumenstyk predicts a “downright quaint” in the age-old idea related to students earning only a diploma—one single credential—while graduating from college. She strongly advocates that nowadays employers demand something more. She also points out that several universities—even community colleges—are persuading students to get certifications simultaneously while completing their respective courses.
Jamie P. Merisotis, President at Lumina Foundation, also sheds light on the importance of various non-degree credentials and postsecondary certificates—several of which anre being provided by third-party companies, employers, and other bodies these days. According to Merisotis, they have much-needed value not only to students and employers, but also to the society at large.
Indeed, the potential for certified HR and talent management professionals are immense…now and in the times to come as well! If some leading reports revolving around trends in the HR and talent management space are to be believed, the large-scale use of various skill-based HR certifications and credentials are very much likely to change the game in the qualifications and criteria required by talent professionals. They have the potential to close the prevailing skills gap in organizations’ talent department. And most importantly, they are good enough to provide students with a better return on their study.
CSW—Corporation for a Skilled Workforce—in its report titled “Making a Market for Competency-Based Credentials”—has mentioned that earlier, employees, students, and employers used their respective academic diplomas and degrees like a “proxy” for various knowledge and skills required to perform their jobs. However, time has come to complement this practice, thanks to the mounting interest in various competency-centric credentials. It is no less true that top-notch skill-based credentialing in the HR and talent management space can offer more insights into a professional’s proficiencies.
So, long live HR certifications…long live forward-looking HR and talent management professionals. The coming time will see certified HR professionals thriving ahead, while “only degree holders” will have no alternative but to eat their humble pie. Decide now which category you would like to fall in.
Tags : talent management professionals HR certification HR certifications HR leaders Posted under : Human resources
| Hits : 73 | Comments : 0