Business research conducted has thrown some predictions on the way freelancing as a way of working will continue in the year 2016. There has been much debate on regulations surrounding freelancing and there is need to change existing norms. Numerous functions within the broad gamut of HRM such as Human Capital Management and Vendor Management Systems need to be consolidated as part of a common HRMIS. Greater number of people will now freelance leveraging the capabilities of their smartphones. Marketplaces with kiosks for availing certain products or amenities will see a decline due to rise of the on-demand economy. Even large organizations will eventually realize the benefits of building on a freelance network and will embrace this concept. 

There are some reasons for why talent management is no longer as effective as it used to be. This is firstly because people have tribal natures and tend to hang out or even work in silos. Genuine meritocracies rarely exist. Most organizations and people working with large firms reward conformity rather than innovations. In this culture it is very difficult to identify the true leaders who stand out. A lot of the companies which do have a good record of recruitment and development, have so because the recruits tend to thrive within that particular system. People on the other hand do not appreciate the context and randomly choose organizations such as Goldman Sachs, GE or Exxon just because of this perceived good reputation.

Source: https://hbr.org/2016/07/3-reasons-why-talent-management-isnt-working-anymore

How to use pre-hire Assessments

The Myers-Briggs Personality Type Indicator was developed during the Second World War to determine personality types and the kind of jobs suitable to them. Now seven decades on, several sophisticated assessment tests are conducted industry wide to determine best fit for respective organizations. A formal hiring process I used by around three-fifths of firms as per business intelligence firm Aberdeen Group. In fact, market research conducted by Deloitte clearly states that this assessment industry has grown by nearly forty percent over the past five years. More than just skills and behaviour, likely consumer assessments are scored by Baltimore based Pegged Software that caters to the health care industry. Using this, top performers can be modeled. Also roles can be clearly defined based on organizational requirements.

talent management publication. Expectations must be clarified right at the beginning. Senior managers must provide timely information to the rookies. Managers must also make sure that newcomers feel part of the industry by giving them insider information which only hardened industry professionals can provide. Management training must be included from the first day itself in some form or the other. The newcomers must also be provided with mentors whom they can address their issues and can learn from directly. Finally these recruits must be familiarized early on with coworkers as well as team members along with their respective roles.   

Employer branding is quite often key to effective talent recruitment drives. A proper recruitment content strategy needs to be developed for the same that involves several steps. Planning for current and future needs is the first stage involved. The next phase involves evaluating the existing talent pool within the firm. Then external demographics need to be assessed such as the country, region, city as well as factors such as sector and the general economic trends. The existing sourcing trends need to be analyzed and overhauled if deemed necessary. Then a calendar needs to be put in place to put in writing the exact corporate strategy for recruitment purposes. The available resources need to be allocated accordingly to ensure this target is achieved. The use of data analytics must be made for this purpose as these days social media platforms such as LinkedIn and Facebook can yield great results in this aspect.

Leading MBA institute the London Business School has found out that by the year 2020, around half the workforce will be engaged in working remotely. Yet in a market research conducted by FlexJobs recently, it emerged that very few firms have gone ahead with the process of quantifying the ROI for working remotely. It is a trend that is spreading fast, yet organizations are not working to best leverage the same. Firms are reluctant because they feel that certain work processes can’t be done from home. Also part time schedules confound a lot of regular workers. The commitment sometimes goes missing from the freelance workers. This needs to change if we are to experience the paradigm shift by 2020. 

Google is frequently cited across surveys as being amongst the best employers possible. It brings us to a conundrum. Is Google’s positive work culture responsible for its business success, or the other way round their vast revenues enable them to possess such an upbeat work culture. As per market research conducted by MBAinstitute Duke’s Fuqua Business School, work culture is the most important aspect in any firm according to nearly 80% of those surveyed. Google’s company culture was like its present state back in 1999 when they barely had 8 employees and has maintained that level ever since. It fosters a sense of ownership and employees are encouraged to be hands-on at work. Google has the agility of a startup when it comes to collaboration and decision making. Technology oriented companies such as Twitter, Facebook, Apple and Adobe also have favourable rankings.