The new breed of talent management tools will include features for regular check-ins, transparent sharing of goals and agile team management

While Cloud-based systems and talent analytics will be the need of the hour, HR will invest only in those technologies, which are mobile, agile and fast moving

Technology has proven to be a unifier for most HR functions, be it recruitment, learning & development or performance management. The infusion of technology in HR has not only made HR more transparent and efficient, but it has also helped and enabled companies to make strategic business decisions.

In this story, we look at the evolution of the top talent management technology in the last decade

RecruitmentIn the last decade, the recruitment function has been the biggest benefactor of the technology intervention. Technology has completely altered the face of recruitment, right from identifying andselecting the right talent to on-boarding them into the company.

Learning & DevelopmentWhile L&D technology is showing great signs of growth, it is largely believed to be an under invested market and hence one can expects an upswing in the near future.

Other FunctionsUnder the talent management banner, performance management is looking at the next biggest sharein investment after recruitment and L&D, followed by succession planning. The talent review itself islooking at a change. HR is turning to datafication of its processes to be able to measure the ROI andthe get the results it needs.

KEY HIGHLIGHTS

The stakes for developing effective talent are rising quickly. However, simply recruiting to find the right talent is not a sustainable solution. To achieve long-term success and sustainable competitive advantage, an organization must build an evergreen source of talent by developing people from within the organization, building on their strengths, and providing them with opportunities to innovate and advance their careers. Consider the top business challenges HR leaders are facing today: Workplace demographics are changing and while there are plenty of people who are willing to work, skills with high demand are in short supply.

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According to a report by Deloitte University Press, learning anddevelopment is the third most important trend in ‘Global Human Capital Trends 2015: Leading in the New World of Work’. As per the report, “Companies are actively exploring new approaches to learning and development as they confront increasing skill gaps.” Couple this monster challenge with the dinosaur of attrition and one can comprehend the constant struggle the HR function goes through on a day-to-day basis. Management consultants Mark Stein and Lilith Christiansen, in their book ‘Successful Onboarding’, point out that nearly one-third of people employed in their current job for less than six months are already searching for another job.

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When companies do hiring, there are three things that they should focus on: Character, Commitment and Competence. While the business managers can measure commitment and competence, it is the job of the HR to identify the character. The first step towards doing that is cross-checking the resumes and details provided by the prospective candidate. Providing fraudulent information is a deal-breaker for any company and background verification is a crucial checkpoint for all recruiters. It averts the risky marriage of a non-compatible candidate with an unsuspecting company.

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Enterprises are no longer the only head hunters. Well-funded start-ups have now entered the fray of attracting top talent and social recruitment is a fast mover, with the use of social professional networks growing in popularity for key positions. About 44per cent of talent acquisition leaders in India say that social professional networks are responsible for fulfilling key positions as opposed to 38 per cent from their global counterparts. This plays a major role in recruiting passive candidates as well. For regular and bulk hiring, internet job boards continue to dominate the landscape in India withTA leaders attributing 56 per cent to job boards and 47 per cent to internet resume databases. This is in stark contrast to the overall global consensus of 26 per cent.

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India is home to software developers. The software export market is approximately $100 billion market. Does that mean we have achieved automation maturity? The truth is Indian software companies have always invested their time and skill on international clients and in servicing their execution requirements. In this process, they earned easy money, but lost the art and science of creating intelligent automation solutions. There is a dire need of automation experts who can create solutions to fit the complex Indian scenarios while achieving best global practices.

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HR Technology Supplement August 2015

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