Talent Management and Technology
As I started to read my HR Magazine (published by SHRM) for March 2014, I took a moment to read the monthly CEO’s message on page 10 written by Henry G. Jackson entitled “Becoming Employers of Choice”. The title intrigued me and the first few sentences definitely got me thinking. The prediction being examined was that of a shift from the one we have experienced for the last few years, focused on the corporate entity itself, over to one of leveraging the strength base of the top performing employees within the entity. The idea is that we have possibly reached the peak of the productivity, cost cutting cycle, and are now looking at the return of mobility in the workforce. So, it made me ask myself, “How will organizations identify their highest performing individuals, retain them, and then engage them in the upcoming growth cycle as companies deal with the details and the cost of turnover (exits and onboarding) at the same time?" I think the answer is that the companies that leverage HRIS and payroll technology will have a competitive advantage during a time like these being predicted for 2014 and beyond. Payroll and HRIS technology through their automation and workflows will aid in reducing the costs of turnover, and the data within the system will allow HR management to quantify and analyze their talent pool. Also, HRIS will facilitate targeted, accountable communication of events and other opportunities for individual and group training and development. A strong automated Payroll and HRIS system also provides the tools for multi-directional, flexible, attentive, reportable performance communications to keep managers and their employees engaged in the performance dialogue. So, if this trend develops as it appears it might, it’s a good time to make sure you have systems in place to handle the talent management that will keep your enterprise out front of the competition.