Human capital is broadly accredited as a key facilitator of growth in an organisation. There is immense competition in the talent marketplace with innovative strategies aimed at attracting and retaining the ‘best in class’ talent. As per the data released by naukri.com, the hiring movement in November 2014 registered a 13 percent increase as compared to November 2013, as all key sectors witnessed a growth in hiring.
In line with an increased level of hiring, social media has emerged as one of the key tools in HR engagement and Talent acquisition strategies for organisations across sectors. Today’s workforce is highly connected, technology-savvy and demanding. This emergence of boundless communication has resulted in the advent of a new dawn of profitability and success. In the recent past, much emphasis has been laid upon hiring the candidates using social network like Facebook, LinkedIn and over the last couple of years, HR professionals have resorted to competency based interviews to identify and hire the right talent.
In the current era of hyper-competition and non-stop disruption, the only way to remain ahead of others is to stand for continuous learning and its application. With a firm belief in continuous learning, we at IndiaMART spend a significant amount in developing our leaders at all the levels by partnering with the best in class institutes like ISB-Hyderabad, INSEAD, FOSTIIMA, Franklin Covey, Kan Blanchard to offer a plethora of programs.
When a company prioritises its employees’ interests, it creates more value for its customers. Retaining the talent is definitely one of the key focusses for our organisation and much more desirable than developing new talent pool. Last year, we witnessed a transition and accelerated growth for organisations; however, a majority of them are still finding it a challenge to secure enough highly skilled workers. HR departments are initiating innovative ideas and strategies, besides the conventional ones to retain the best talent. They are focussing on a broader mix of rewards such as career development and growth, broader responsibilities, work autonomy, work- life balance, appraisals, recreational and voluntary benefits. When employees feel like owners, they are more likely to focus on creating more value. Like our customers, employees have a robust ticketing system that helps them express their requests, concerns, grievances to the right person. Organising boot camps, festival celebrations and other events can further help in successful and consistent engagement of employees with the organization. With an increased demand for high performance, it has become imperative for the organisations to have a robust & transparent rewards and recognition system.
Unfortunately, in an organisation, a certain amount of attrition is unavoidable and essentially unpredictable because you may never be able to get all the data that went into each decision. However, usually there are some clear patterns in attrition. This goes beyond some known causes and subjective perspectives employees offer in exit interviews. In order to arrest the early life attrition, the business HR partner should touch base with new joinees at various intervals to ensure adaptability to the new systems and processes. Organisational culture stands out as one of the components that is important for sustaining performance, competitive advantage, and the stepping stone to becoming a great company. Hence, it should remain on the priority list for both HR and company leaders, particularly for organisations contending for top or scarce talent. Our Leadership promotes an ethical culture that breeds organisational growth, effective services demanded by the society and the ability to address problems before they become unmanageable.
In present day work environments,nearly all firms are providinguniversal access to HR services through technology and web-based applications, dramatically changing the practice of human resource management. These changes often result from the need to cut costs and expand or improve services. Right from an applicant applying for a job opening, to an employee accessing their benefits enrollment, a manager looking at learning hours of an employee looking at the time and attendance data, everything is transforming the Human Resource Information System. With better economic conditions prevailing, HR activities are also witnessing rapid upliftment. The role of an HR in organisations is increasingly turning crucial as the workforce moves towards becoming more global, diverse and multi-facetted.