Armin Sommerhuber, Head of Business Unit Talent Management at Lumesse, provides answers to these questions about talent management and the role talent management systems have on workforce engagement in his article titled, “Empowering Employees to Reach Business Goals,” available here.
1. What is the one key tool HR needs for effective talent management?
“From my point of view, there isn’t one ultimate concept or tool for effective talent management. It varies from organization to organization and depends on the strategy of the company, and how goals are defined.
However, it’s extremely important for companies to make sure that employees understand and agree with the business goals. Good performance management and appraisals are some of the most effective ways to set SMART goals for employees that are aligned with the company’s goals and strategy, and measurable through KPI’s (key performance indicators).”
Sommerhuber explains SMART as: specific, measurable, achievable, relevant, and time-bound.
“Furthermore, the individual goals of the employees should be considered as well. To measure the effectiveness of performance management, HR has to adopt the most advanced platform which allows the translation of employee behavior into metrics. With a visual analysis, it’s more feasible to achieve effective talent management,” adds Sommerhuber.
2. What role can talent management systems play in engaging the workforce?
“Lumesse’s vision is based on the idea that an effective talent management system is not a luxury or an overhead, but is a fundamental element that is required to make enterprises successful long-term. Supporting employees to understand and align with the company’s priorities, developing their skills, and helping them to achieve goals is a must. A winning talent management system plays a key role in helping executives to capitalize on business opportunities outside their core competencies and to engage and retain employees within a highly mobile workforce. More importantly, the system empowers organizations to evolve to a people-centric approach.”
3. How can companies leverage digitalization and talent management systems to manage and retain talent?
“As the world becomes increasingly digital, so does HR. This means more than just replacing your current HR systems. It means employing innovative HR tools and technology, and professionals in your organization and furnishing your workforce with an integrated, easy-to-use platform of services.”
4. Do different generations in the workplace require different talent management strategies? If so, how can companies deal with this?
“Definitely. Millennials already make up most of the workforce in many companies, especially in fast growing industries. As digital natives, these employees are already empowered as customers, using social networks to research and inform others of their purchasing decisions. This is compelling companies to implement a digital tool in order to manage them.
Two other important factors to consider are to be social and mobile. Only this way can you speak to the heart of Millennials and be one step ahead of your competitors. Lumesse’s ETWeb empower is state-of-the-art, compatible to all mobile devices and offers a platform to be connected within the company and with social networks.”
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Looking for more? Download our talent management buyers guide and check out the top-24 products available in the market with full page vendor profiles, key capabilities and questions to ask yourself and the vendor before purchasing a talent management solution. For those just starting the talent management software search process, this is truly the best resource to help get you going.
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