According to a Forbes study, 28% of companies are planning to invest in their processes, tools, structure and staff. In response to this trend, Human Resources now plays a key role in reaching corporate goals: HR is the source of the talent companies need, and without an appropriate attraction and retention strategy, all investments in other areas and in technology are meaningless.
In order for an organization to function and achieve its corporate objectives, all of the departments that make up a company must work cohesively and strive to achieve common goals. In this sense, the Human Resources area can contribute a lot more to the business than what managers or executives think: HR is the foundation to achieve success, as it provides the company with the talent it needs to stand out from the competition.
In an age in which instant gratification is the premise that rules society, companies need to optimize their processes. Digital transformation is one of the keys behind this concept, a fact organizations are well aware of:
- 27% of executives think it’s a matter of survival. *
- 85% of corporate decision makers believe they have two years to integrate digital initiatives before being left behind by the competition. *
- 55% of companies believe they only have one year left before the previous statement becomes a reality. *
Human Resources as a central theme of corporate strategies
Over the past few years, companies have begun to realize just how important qualified human capital is within the corporate world. In fact, 73% of employers say there is a talent shortage in their industries, and 92% claims this is harming their business.
In light of this situation, Human Resources departments are critical, for their job is to attract and retain the best talent on the market. In order to achieve this, they have to focus on three fundamental traits:
- Growth. Development opportunities and ongoing learning are the foundation needed to make valuable workers want to stay in an organization.
- Empowerment. Training workers to make sure they perform their duties with autonomy and precision builds organizations that are swifter, more productive and more efficient.
- Collaboration. Building strong teams and relationships enables fully integrated operations within companies.
The speed and dynamic nature of today’s business has led companies to strengthen their screening process when it comes to talent: nowadays, there’s no time to drag around unmotivated workers; therefore, a good selection and retention strategy is key. With this scenario in mind, a Forbes magazine article reveals a few best practices to strengthen talent within organizations:
1. Lean on the data
Thanks to big data, you can now obtain highly valuable information for making strategic decisions. This way, you can identify workers with the best performance, areas or processes that need support and trends that enable companies to hone their human capital.
It’s important to be selective: not all data can be used for specific actions. Screening and categorizing data is critical when assessing information.
This point is about bringing workers closer to the data to make sure they understand what is right, what needs improvement and where weaknesses or flaws are being reported. Leadership work is fundamental: it’s not about giving orders; it’s about leading a team to success.
Knowing workers’ opinions is the starting point for sustained growth, because they are the ones executing your processes. Keeping that in mind, their opinions are highly valuable for the development of strategies and the implementation of improvements in workflows.
With all that said, how can you improve talent attraction and retention? In order to achieve this goal, having a tool like Microsoft Dynamics 365 for Talent is critical. Thanks to this solution, you can optimize Human Resources strategies, identifying ideal candidates, assessing performance and simply getting everything you need to have the best professionals your company requires.
Are you ready to deploy the best selection and retention strategy? Contact us and schedule your demo.