While budget cuts and a broadening skills gap are making performance management a little more challenging, it’s not all bad news. Here are three opportunities you can take advantage of, to improve talent management and development in your organization.
We know there are hurdles that get in the way of talent development in your HR department – the lack of budget, the hesitation of execs to buy into new processes, managers who don’t understand how to have development conversations… But alongside those, there are also often-overlooked opportunities. Make sure you’re taking advantage of these three trends that can improve performance management and development.
Imagine how difficult performance management and development would be if you were trying to manage and develop a team of people who had no desire to grow, learn or lead? Luckily, this is not an issue HR is facing today. In general, the workforce is packed full of young employees who want to be developed. According to the Harvard Business Review, over 50% of millennials sited ‘Opportunity to learn and grow’ as ‘extremely important’ when considering taking on a role. This tops the list of deciding factors – over compensation and informal work environments.
And, while we know that the more conversations managers have with their employees, the more engaged their employees become, research by Gallup found that only 21% of millennials and 18% of non-millennials meet with their manager on a weekly basis. The pool is there and wants to learn – now you just have to encourage teams to jump in.
A few years ago, HR departments had to rely on a lot of manual monitoring and reporting, which often resulted in messy, disorganized HR systems that contained a mixture of manual and automated process – and the only person who knew how to manage it all was the one HR team member who put it together. Then she left, and it all fell apart. Today, HR technology and systems exist to make HR jobs, including development, a whole lot easier – for the department and employees. For one, the learning curve has significantly diminished; so instead sending employees on a training course to understand a system, well-designed technology requires no training. Plus, BYOD policies and low data costs have removed the barrier of access to these systems.
80% of HR professionals believe that data analytics skills are becoming more important. Today, we understand that data can help us support better, more predictive hiring; identify the hidden talent within a company; connect team members to the right training tools; improve employee engagement; and reduce turnover by as much as 50%. Don’t be afraid to incorporate data into HR, just as much as it’s being used in other areas of a business.
Find out how people data can help drive your talent objectives with TalentPrint.