The fight to get the best of talent recruitment is heating up with each passing year. In addition to recruiting the best, retention has become another challenge. A survey conducted revealed that nearly two-thirds of those employed and three quarter of those in the same survey below the age of 34, believe that periodic job-hopping will further their career prospects. Contrary however to all this evidence, it actually pays off to encourage one’s best employees to actually consider external job offers. This is because all kinds of employees but especially the millennial age group wants constant training and development. This kind of management training can best be achieved by pursuing a variety of assignments in similarly varied companies. It is well-known that employees do consider leaving. So, it is better that leave decisions are openly discussed as it helps build transparency. When the best of employees depart on good terms, it actually enhances the position of the company as others realize that the employers do not come in between career aspirations, while also treating the departed ones with respect. When departures are managed smoothly, it is extremely likely that those leaving may come back.

Source:https://hbr.org/2018/09/why-i-encourage-my-best-employees-to-consider-outside-job-offers?utm_campaign=hbr&utm_medium=social&utm_source=twitter

Uploaded Date:16 August 2019

Getting the best out of mavericks has long been a pressing concern among thinkers on talent management. Mavericks are those individualist geniuses whothink out of the box, and do not want to be dictated by silos. Such talents are of much value to the world now, as algorithms and AI have conformed the vast majority of professionals to think alike. The sport of soccer has long grappled with this mystery, and some of the best coaches have managed to get the best out of such lonely geniuses. Much on this has been discussed in the book Edge: Leadership Secrets from Football’s Top Thinkers, written by Ben Lyttleton. Diego Maradona remains one of the greatest of all time, and a perfect example to this trend. For a start, these mavericks need the team to buy- in to their philosophy. They also need to nurture their own personal brand. The relationship between the team coach and the players too needs to be smooth to execute this brand of play.

Source:https://www.strategy-business.com/blog/How-to-manage-mavericks?gko=a829f

Uploaded Date:16 August 2019

Audit and business consulting giant PwC, in a recent report titled Preparing for Tomorrow’s Workforce, today, has mentioned the utility of hiring flexible talent to ace innovation. Several companies have taken the cue from this report, and thus implemented talent recruitment systems that leverage the ranks of independent contractors, freelancers and gig workers. However, PwC also cites the fact that a staggering ninety- two percent of these recruiters are not managing the contingent workers as they must. Companies need to have proper policies to get the bets out of external talent as today such contingent workers make up more than a third of the full US workforce, and half of the millennial population. A number of reasons may be cited for the immense popularity now for freelancers, one being the record low unemployment in the USA. Another is the shortages in talent, plus the emerging business models, separate from traditional ones. The legal environment too needs to be sorted out, to make it easier to hire such workers. Barriers must be removed by companies as well, to ensure ease in operations, and also for the talent to thrive.

Source:https://www.strategy-business.com/blog/Getting-full-value-from-external-talent?gko=308b1

Uploaded Date:16 August 2019

In the ongoing move towards a gig economy, companies have modified their talent recruitment norms. They are now hiring a mix of temporary workers, to ensure increased flexibility. This trend though comes with its set of complications. A study found out that increasing the pool of freelancers from zero to the optimal level, increases productivity, but declines soon afterwards. This is because of the corporate training costs associated with the constant turnover of part- time employees. Companies that are seeking to develop human capital, are incurring a hidden cost in their drive to push hiring flexibility. Different combos of staff contracts also have a profound impact on the final performance. Work patterns also get affected by a constantly revolving door.

Source:https://www.strategy-business.com/blog/The-hidden-perils-of-temp-turnover?gko=25d78

Uploaded Date:14 August 2019

A lot of firms these days, especially fleet- footed digital start- ups pride themselves on their relaxed personnel management procedures. However, a study anchored by the MIT’s Initiative on the Digital Economy, has shown how organizations with a more structure management system, do much better in terms of talent recruitment, people retention and even the hard task of firing under- performers. This pattern was highlighted in the recent paper titled Building a Productive Workforce: The Role of Structured Management. This was a long study, with data spanning a data being included in it, as contributed by the RAIS and the WMS (World Management Survey). Productivity of such firms is also significantly higher.

Source:https://mitsloan.mit.edu/ideas-made-to-matter/structured-management-practices-lead-to-better-hr-outcomes

Uploaded Date:14 August 2019

Building a strong professional rapport goes a long way in establishing oneself in the organization. Some typical traits have been uncovered, following which, such cohesive work relationships can be developed. For a start, the employee needs to have a clear purpose on what is to be achieved. One also needs to clearly understand what kind of relationships will best serve the purpose in the said organization. Shared goals, a mutual respect and shared knowledge are always useful in such endeavors. One thing possibly most important is to ensure that one will pursue the same relationship, even if times get tough. Those adept at the art of talent management, will be able to identify five relationships, most fruitful to his/ her professional development, and sort them out the first.

Source:https://hbr.org/2019/08/3-traits-of-a-strong-professional-relationship

Uploaded Date:14 August 2019

The gig economy is here to stay and thrive. Instead of fearing this phenomenon, companies must embrace this change. Employees working remotely is actually good for the company due to the cost reductions. It also helps the employees settle at places far- off from the main cities, thus reducing their costs, while easing pressure on the major habitations. Initially this gig working was primarily geared towards blue collar jobs, but now increasingly skilled jobs are getting precedence in this market. The US Patent and Trademark Office (USPTO) for instance has developed this ecosystem by which remote workers could thrive. The USPTO’s flexible working norms helped boost productivity as it happened likewise at NASA, Git Hub and at Akamai. This remote working though may not suit everyone. Even for those it does, a significant period of bedding- in at the office premises may help prepare. The company’s talent management system needs to be such that the transition to this mechanism is gradual. Technology can pave the way for much collaboration over distance, through minimal supervision. Thousands of tons of emissions will also be reduced as a result of increasing this concept of remote working.

Source:https://hbswk.hbs.edu/item/how-companies-benefit-when-employees-work-remotely?cid=spmailing-28284211-WK%20Newsletter%2007-31-2019%20(1)-July%2031,%202019

Uploaded Date:13 August 2019