Insights for a Strategic Workforce
Obviously, hiring the right people is crucial to the success of any business. However, merely having a talented workforce isn't enough. Instead, it's crucial to make sure that your team members are engaged at all times, continually learning new skills, and always challenging themselves. If not, many of them are likely to get bored, and some will entertain job offers from your competitors.
A key to stimulating and motivating employees is to regularly promote people who deserve it. Indeed, a Wharton School study found that promoted staff members tend to perform more effectively. Fortunately, talent mobility software can help you with this important assignment.
Shifting Employees: A Vital Part of Human Capital Management HCM
In a joint study, the Human Capital Institute and Lee Hecht Harrison looked at companies that have good talent mobility strategies and companies that don't. In the first category, 81 percent met or exceeded their goals for revenue growth. In the second category, only 68 percent did so.
In addition, LinkedIn discovered that 38 out of 100 employees who'd been moved around at work would've left their companies had they not been.
The Complex Art of Talent Mobility
A high-quality talent mobility system will provide you with many benefits. For instance, it should:
- Lower your business expenses as your recruiting, compliance management training, and onboarding costs will go down.
- Increase innovation.
- Avoid the disruption that comes with bringing in outsiders.
At the same time, shifting employees to new posts, whether vertically or horizontally, can be an especially tricky aspect of human capital management (HCM). When you move individuals to positions that they're not ready for, your company's productivity will suffer.
However, talent mobility programs make those decisions much simpler and more accurate. As a result, you'll be able to take maximum advantage of everyone's talents.
Creating Leaders with Workforce Data
One recent statistic is troubling. Global Human Capital Trends 2015 reports that a mere 6 percent of companies have established programs that can nurture young workers into business leaders.
Talent mobility software can help you to develop such a leadership program. It collects and aggregates a wide variety of workforce data points so that you can easily analyze people's performances, educational and training histories, and levels of expertise. It's also adept at using predictive workforce analytics to pinpoint those who'd make excellent leaders.
HR Metrics to the Rescue
If you really want to mobilize your talent properly, it's crucial to collaborate with your human resources (HR) department and give its members state-of-the-art tools. At one time, many companies neglected or underappreciated their HR divisions. Today, though, HR professionals are becoming the superstars of many industries; they're the people who often recruit gifted employees and grow their abilities even further.
Finally, when you have a talent mobility program like Cornerstone Insights, one that supplies dependable HR metrics and HR analytics, you can eliminate skill shortages. That's because, whenever you find that you have a need for a certain skill in some part of your organization, you can immediately deploy an in-house talent to fill it. Consequently, your prospects for long-term success will be much improved.