The primary focus of HR managers today is to attract and retain the right talent in accordance with their organizational needs. However, in this bid of winning the war of attracting talent, HR professionals tend to overlook a very important aspect of employee retention, namely performance management. In fact, the top performance management consultants consider this single aspect to be one of the vital cornerstones of a successful and meaningful HR strategy. This is also what makes it an extremely challenging task, as ensuring the development and complete engagement of the employees possessing different skills, is no small feat, even for the most experienced HR professionals.
Understanding Performance Management As A Process For most people, performance management is just a fancy term used for defining the various ways in which managers perform performance appraisals of the employees. However, in addition to the various appraisal related activities, the process of performance management also comprises of other aspects related to the employees, which can influence organizational growth and profitability. These primarily include development of skills and abilities that the employees might be lacking and which are essential for effective performance of their roles and responsibilities. It also involves addressing the complaints and grudges that the employees might have against the organization or even against their peers and managers. Guidelines To Create A Successful Performance Management Strategy According to the experts from leading performance management consultant firms, it is important for organizations to shift their reliance on completely automated systems. Rather than considering it as a one-time event, it is essential to think of it as a continuous process which needs to be modified and updated as per the changing organizational needs. Discussed below are some useful guidelines that can help HR professionals to create a successful strategy for appropriate performance management.
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One of the key aspects of ensuring a secure future for the business is for the organizations to recruit good leaders to replace the existing ones at the right time. However, finding the right candidates with the appropriate leadership qualities is not quite easy. In fact, according to a research, there is a great shortage of candidates with good leadership traits. The task is further complicated by the various recruitment challenges that most organizations tend to struggle with. Discussed below are some of these major challenges that have deeply influenced leadership hiring across multiple business niches. Lack Of Intense Recruiting Competition : Over the past several years, a weak economy combined with easy availability of talent has made recruitment for various positions extremely simple. With the recruitment companies and HR managers having a wide choice of options to pick from, even for the leadership roles within the client organization, there has been a serious lack of intense competition. However, as the economy improves, the recruiters will have to put up a tough fight to attract and hire top leadership talent for their clients. As the focus shifts from the recruiters to the candidates, new hiring strategies will need to be developed and adapted to ensure the fulfillment of client needs in a satisfactory manner. A Significant Increase In Hiring Volume : With the expected increase in corporate growth, there is expected to be a significant rise in the hiring volume as well. The trend will further be fuelled by the leadership retention issues within the organization. As the job markets open up, the corporate turnover will also show a steep increase, with a large number of employees moving on to positions that are likely to offer them better job security. Since the leadership recruitment for the past several years has been operating on a low-volume mode, the high volume of open positions within the client organizations will present a major challenge to the recruiters. Low Employer Brand Image : During the phase of economic slowdown, even major business organizations were forced to take tough decisions that deeply impacted their employer brand. These included sudden layoffs, pay cuts and promotional freezes, which were easily accepted by the employees at the time. However, as the economy started improving, these organizations did not pay much attention towards rectifying the damaging consequences of these tough decisions on their employer brand image. According to the professionals from the top headhunting firms in India, this low employer brand image may actually prevent the potential leaders from applying or getting hired by the organizations even through external sources. An Outdated Recruitment Process : As mentioned before, the easy availability of talent has rendered the recruitment process extremely simple. In fact, a majority of recruiters have been using the same model of recruitment that they had developed years earlier. However, while this model might have proved successful during the era of economic recession, it needs to be updated to meet the challenges of an improving economy. New strategies need to be developed that focus on attracting innovators and candidates with strong leadership skills. Moreover these strategies need to focus on ensuring satisfaction of the candidate besides fulfilling organizational needs. Not Using The Right Recruitment Professionals : Finally, the biggest challenge faced by business organizations is that of using inefficient and un-resourceful recruitment professionals. This challenge can be overcome by hiring the renowned leadership and executive research firms that can offer the benefit of years of knowledge and expertise. These professionals can provide the recruiting organizations with reliable advice and guidance about overcoming the aforementioned challenges in the most effective manner. They also provide the advantage of access to a vast network of resource and a talent pool to easily attract the right candidates for the various job positions. |
AuthorCornerstone India is a leading player in CXO Search, Board Search for Independent Directors and Leadership Advisory services. Archives
July 2023
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