The demand for talented employees became a global business concern in the early 1990s. Firms were forced to adjust to knowledge-based forms of operations that prioritize the company's talent as compared to other assets. The change also demanded the firms to seek innovative and efficient approaches to attracting and retaining employees. The resulting problem is the inability to control the advancement of talents located in subsidiaries as well as the promotion of the talents of the already employed individuals. Following the recent changes in the human resource department, it is now easy to solve this problem. Firms can now take advantage of a variety of human resource policies and practices that are related to employee management.
Companies should demand workers with competencies and motivation. Today, more workers are willing to do their jobs under new and changing conditions (Collings, 2014, p.308). Demanding for advanced skill levels means that a company can easily attract knowledge-workers. These are individuals who can work together in a firm irrespective of cultural and geographic barriers. Human resource managers should also ensure that their employees are motivated. The changed can be enhanced through training and development of existing work teams (Virtanen & Stenvall, 2018, p.128). Retaining talents is one of the most effective management skills. Motivated employees tend to be more productive.
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Managers can also use performance assessment techniques to counter the problem. The strategy helps in grading the employees based on the business results. Some of the skills to look out for include creativity, innovation, and leadership capabilities. Employees should participate in self-assessments and career discussion forums as a way of improving their skills (Bamberger, Meshoulam, & Biron, 2014, p.23). Lastly, managers can use compensation rates as a pay-for-performance metric. Recognizing employee's abilities and achievement with positive feedback or monetary incentives is a method of motivating the workers. Human capital is a primary business asset.
References
Bamberger, P.A., Meshoulam, I. & Biron, M., 2014. Human resource strategy: Formulation, implementation, and impact . Routledge.
Collings, D.G., 2014. Toward mature talent management: Beyond shareholder value. Human Resource Development Quarterly , 25 (3), pp.301-319.
Virtanen, P. & Stenvall, J., 2018. Leadership and Human Resource Management. In Intelligent Health Policy (pp. 117-134). Springer, Cham.
