We know there are hurdles that get in the way of talent development in your HR department - the lack of budget, the hesitation of executives to buy into new processes, managers who do not know how to have development conversations. But alongside those, there are also often-overlooked opportunities.
Make sure you are taking advantage of these three trends that can improve performance management and development.
Opportunity 1: A pool of young talent, eager to be developed
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.
According to the Harvard Business Review, over 50% of millennials cite '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.
How to take advantage
Help your organisation focus on giving employees better-quality development conversations by providing managers with practical, easy-to-use development technology to guide that conversation. Market these HR solutions to potential employees like you are marketing a product to your customers - employees are customers who have choices too.
Opportunity 2: Technology that empowers HR analysis
A few years ago, HR departments had to rely on a lot of manual monitoring and reporting, which often resulted in messy, disorganised HR systems. Today, HR technology and systems exist to make HR jobs, including development, a whole lot easier - for the department and employees.
The learning curve has significantly diminished. Instead of 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.
How to take advantage
Make use of HR systems, provided they are user-centric and work for the employee or manager who will use it. Be inspired by consumer-driven applications and select technology that is easy to use and truly provides value to the person using it. Make sure users know the technology exists and give people the opportunity to access the information they need at any time, in any place, on any device.
Opportunity 3: Big data that makes a difference in HR
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%.
Do not be afraid to incorporate data into HR, just as much as it is being used in other areas of a business.
How to take advantage
Implement processes that make talent management analytics a priority. Ensure you make monitoring, analysing, reporting on, and adjusting part of your reviews. You will need to be prepared to run tests and experiments to find the right way forward. Continuously get feedback from employees on your processes, procedures, and technologies - and listen to the feedback critically.
TMaaS - Take Advantage of All Three Opportunities at Once
Peopletree Group's TMaaS solution combines the technology, analytics, and development conversation tools to help you take advantage of all three opportunities simultaneously - at a fraction of the cost of building it yourself.