Knowledge CenterStrategic HR & Leadership Development
Strategic HR and Leadership Development
Strategic management of human resources represents a transformation that is relatively new in the field of human resource management. Strategic HR means thinking two steps ahead, while remembering the past and preserving the core. An important role of strategic human resource management is about focusing the management in employees as a tool to gain competitive advantage. The purpose of strategic human resource management is to improve business performance through people management. An enterprise manages their human resources effectively and efficiently in order to cascade goals and objectives. The achievement of goals and objectives translate in better performance. The organizations must manage its inputs to achieve their outputs. One of the vital inputs for the organization is human resource. Good management of human resources will make possible the achievement of objectives
Organizations rely on their employees to create memorable experiences that develop a loyal customer base and ultimately carry out the firm's strategic initiatives. The decision makers have challenges in terms of recognizing the value proposition of human capital and manging the associated investments. Talent management covers different features of human recourse as it includes growth of employees by different methods. Employee behaviors maybe difficult to predict, observe, and measure however investment in employees still needs to be strategically managed. The integration of HR strategy with the organization strategy will impact the required performance in the organization. Performance management strategy has to do with all the business and not just the managers.
Talent Management and Development
The field of talent management covers a range of HR functions focusing on attracting, retaining, managing, and developing high quality workforces. It includes performance management, staffing, compensation, learning management, employee development, career planning, and succession planning. The growing interest in talent management is primarily a result of increasing recognition of the impact talent management practices have on business growth and profitability. The twenty-one century is the era of technology and globalization, companies are no more working in isolation and large-scale technology sharing can easily observed. Hence, business leaders’ start promoting such resources as human capital which can give them competitive advantage against competitor. An organization’s performance and resulting productivity are directly proportional to the quantity and quality of its human resources. That is the reason that the concept of talent management has received a significant degree of professional and academic interest.
Retaining a competent workforce contributes to Organizational Performance In order to grow and progress in this competitive market, the main goal of every organization is to perform continuously and on a regular basis. Every organization needs talented employees to increase the productivity and maximize the overall organizational performance. It is possible for organizations to gain a sustainable competitive advantage over its competitors only when its human resources are innovative and creative. So, in order to do so, organizations must identify the talents, assess their potentials and develop their skills and abilities accordingly. There are some factors which are identified by the researchers which contribute towards the performance of the organizations through systematic leadership development. Talent development though LIVED Leadership Development, assessments and development plans leads to retention of superior employees. In some organizations, only top potential employees are included in the talent management system.
Yet, many organizations suffer from lack of confidence in their future leadership strategy. We enable organization to develop those specific strategies that provides qualitative and quantitative impact on the organizational results. There is a lot of focus on updated technology and analytics that will enable organizations to differentiate in terms of its rewards & recognition allowing organizations to look at data in a more granular fashion. It will also allow organizations to identify the leadership pipeline in expected numbers.
The complexity, pace and challenges facing organizations today necessitate the development of a competent, skilled and engaged leadership and management cadre. Investment in people developmental efforts that enables your organization to meet its business needs and priorities. leadership initiatives are usually worked around measures and hence identifying some standards of excellence enables benchmarks against which the participating organizations can be evaluated for best practice compliance.
Benefits: At TMTR we undertake the following frameworks for integrated talent management:
- 1. Define talent management strategy and integrate in it within all the employee related processes of the organization.
- 2. Develop talent management with differentiated employee strategy on total rewards and career/ succession planning framework, and employee value proposition (EVP)
- 3. Help organizations to identify essential skills and functional capability to design capability building framework (learning and Development)
- 4. Leadership potential assessment, LIVED leadership development and development planning
- 5. Develop leadership competency framework