To make the right and most informed decision about your people and your business, you need to have information on various functions of HR at the point it is needed. Painless integration of the tools used for these HR functions is the key to your business success.
Many decisions become smooth if you have up-to-date profiles of your workforce in place as you can incorporate this information with other relevant decision variables when needed. For example, If you are taking your business to an emerging market or a new location you may want to search for homegrown talent who have completed similar assignments successfully in the past , possess the required-desired skills for the job and open for the location change.
You take informed decisions on succession planning or organization change while you are using information obtained from your Talent Review exercise. Similarly you add value in Compensation allocation process, by associating factors like individual’s ability to meet or surpass predefined goals and agreed-upon performance objectives, with it.
Undoubtedly you need to have access to real-time analytic at the point of your decision and should be able to run what-if scenarios to foresee the likelihood and impact of various scenarios important to your business. For instance, you would like to pay people not only for their performance but also for their potential and other factors like probability of attrition. Similarly, you may want to explore more about you top talent to identify any positive or negative trend in their performance to predict future behavior and required corrective actions.
Needless to say that an effectively integrated talent management system connects various dots about your workforce at your workplace and helps you to attract, retain and motivate best talent.
Journey... 