Digital Age: A New Talent Management Strategy

COVID-19 has turned into a global crisis, evolving at unprecedented speed and scale. It is creating a universal imperative for organizations to take immediate action to protect their people.The impact of COVID-19 has triggered an acceleration of Digital HR, as new ways of working forced organizations to tap into their technologies and pushed creative ways of leveraging them. The current pandemic brings a new reality: a high demand for virtual working, with easy, intuitive and ‘waterproof’ systems, accessible at any time from any location. This is essential in maintaining the continuity of work, as almost every employee is being forced to switch to a different and/or remote way of working.

Rapid changes in demographics, technology and globalization have considerable global implications for work and the worker.HR is undergoing rapid and profound change, focusing on people, work, and platforms. Most of the organizations has been increased their investments in their HR Technology landscape and able to better position themselves to sustain their operations and respond quickly to the needs of the business. This has given HR the momentum to take the lead in accelerating to digital.

Digital transformation is playing an increasingly important role in organizations and has empowered HR to improve human resource processes. HR and talent management, are renewing and replacing their technological solutions with resources that work more efficiently and scale more rapidly. In today’s economy, traditional ways of employee recruitment, employee engagement, training & development, and performance management are old ways and do not effectively manage Millennials and hybrid work model.Digital technologies are increasingly used in the field of HR management.It is very clear and mandatory that HR and talent management activities should be linked to the digital transformation strategy, which means much more than just digitizing existing processes or automating HR.

The below figure illustrates the benefits of digitizing the HR and Talent management practices,

Being an OD student, I have designed the below holistic talent management model in aligning with systems thinking approach to match organization’s goals and data-rich insights that allow the organizations to be more strategic and actionable with planning for future needs.

E-Recruitment, E-selection and E-Onboarding: Organizations are rapidly adopting e-recruiting tools and industry 4.0 technologies such as AI, RPA etc in Talent Acquisition. A recent survey by Deloitte found that nearly 75 percent of organizations are using technology to support Talent Acquisition, and this number is expected to grow further.

E-Learning: The technology of e-learning provides today’s organizations with a variety of options such as gamification, Virtual Reality, Microlearning etc.

E-Performance management: Performance appraisal software’s are becoming common in the organisation. Digitalization makes it easy to manage the performance on a continuous process. Technologies such as AI, Data & Analytics are playing a vital role in PMS.

E-compensation: Today, virtually all organizations use technology to automate payroll processes. E-compensation software’s, RPA have been playing a major role in finance digitalization.

At the end, in this digital age, Industry 4.0 revolution technologies such as Artificial intelligence, Big Data, RPA etc are some of the tools that companies are using to explore innovative ways to recruit high potential talent, improve employee performance, give best development opportunities, engage and retain top talent. Thus, technological advances making HR functions and employees stronger, faster and smarter.

Reference:

Accelerating Digital HR during- and post COVID-19.(2020). Retrived from https://www2.deloitte.com/nl/nl/pages/human-capital/articles/accelerating-digital-hr-during-and-post-covid-19.html