Don’t Abolish HR Yet!

Data driven HR

In an article written in Harvard Business Review, Dave Ulrich, a Professor at the Ross School of Business, University of Michigan, and co-founder of the RBL Group, addressed a raging debate – ’Should we do away with HR? He goes on to say,

“The debate arises out of serious and widespread doubts about HR’s contribution to organizational performance. It is often ineffective, incompetent, and costly; in a phrase, it is value sapping. Indeed, if HR were to remain configured as it is today in many companies, I would have to answer the question above with a resounding “Yes—abolish the thing!”

In the light of the economic crises in the corporate world in the last few years and the changes that have also been precipitated by emerging start-ups, HR has to become future forward to stay relevant. HR professionals can help turn aspirations into actions by focusing on three things:  talent, culture and leadership.

HR professionals should then be the architects of talent, culture, and leadership as they help line managers deliver what they promise.

In the course of NxtSpark’s work on Talent Development, I work closely with organizations on challenges faced by them with their people – ranging from change management, competency development, leadership building, mentoring, etc.  Most of the times, our clients approach us not with the problem per se but with the manifestation of the problem. During our conversations, on how the interventions designed and deployed by us is going to help them, I have realized that their focus is usually on the episodes where the business manager has faced the challenges with his people in executing and implementing and they want overnight solutions. As is the case with any behavioral change, it takes time, a process and an environment that sustains the change.

Basis experience of working with the clients, I have sifted the crucial observations and parameters of making HR interventions work. Here are the top pointers on how to get the best out of such HR interventions:

Solve the problem, not the manifestation: Getting to the root of the problem is important. Most of the times the attempt is to address the manifestation rather than the problem itself. One of our clients had a challenge around their managers not being able to do ‘Next Level Thinking’. The workshop was then designed on what’s causing this challenge, providing conceptual frameworks for the participants to get equipped on the skills to overcome this challenge and simulating case situations to enable them overcome that problem in the workshop.

Align the intervention outcomes with the business objectives: This is perhaps the most important criteria to ensure success of any HR intervention. Without linking the outcomes with the business objectives the training becomes an ‘offsite’ to relax, network with other colleagues in the organizations and only to go back to their work with no clarity on what has been learnt and how to use in the workplace. E.g. if a communication skill improvement has been planned through a workshop, it should be linked to in what sphere the communication needs to improve – whether it is with the customers or internally with other colleagues of the team or another department. Having clarity around this ensure that the workshop has enough activities and modules to simulate the real situations in which those skills will be tested.

Don’t look for quick fixes: Business managers want overnight solutions to problems that have persisted for ages. When dealing with HR interventions, one has to realize that people base their world views based on their background and that has been built over years of experience. Once the change has been set into motion in a workshop, it takes a little bit of time and constant encouragement to reinforce and continue the process of change in the individual.

Ensure follow-through happens: After the training or the workshop, it’s imperative that the business manager provides necessary projects and assignments to the people who have gone through the workshop. These projects allow the people to implement the concepts that they have learnt and receive feedback on how they can improve.

Identify and track post intervention metrics: Metrics for measuring the success of workshops need to be identified in advance and then tracked at regular intervals. Feedback from peers, managers and customers can be taken to track the progress on the identified metrics. These metrics can then be processed further through Analytics tools to give insights on what can be done to improve performance, achieve business objectives, have sharply-focused training programs, design better compensation structures etc.

Creating Shared Journeys In The Workplace

mentoring coaching onboarding

In Homer’s “The Odyssey,” before leaving for the Trojan War Odysseus had left a wise and trusted fellow named Mentor to be the guardian and teacher of his son, Telemachus, during his absence. While this provides a root metaphor to Mentoring, the book entitled Seasons of a Man’s Life by Levinson, et al aroused the interest in modern day study of Mentoring and Developmental Relationships. Kathy E Kram’s seminal Mentoring at Work: Developmental Relationships in Organizational Life has provided the core concepts of Mentoring.

Modern day employees need mentors as much as Telemachus, especially in these times of corporate upheaval.

Shared Journeys Are Vital For All

Sachin is a graduate of the Harvard Business School and is a Senior Vice President for Sales at a Leading Pharmaceuticals Company. He has more than 20 years of experience behind him. At work, he is mentoring two people who have around 8 years of experience. They are neither in the same department as Sachin nor are in the same function. They are in operations department of the organization. He meets them atleast once in a month and shares his insights into the pharmaceuticals industry, the company and its hierarchy, its values and norms, the people in the company they should know, etc. The sessions are either initiated by Sachin or by the other two people. Sachin believes that this is not a one way road and he has himself learnt a lot in this ‘give-and-take’ relationship with his mentees.

Sankalp is one of the members of the core team at a thriving Start-up in India. He often realizes that people in the organization, while talented and driven, needs skills to manage their ever increasing teams in a dynamically changing start-up environment. He is currently mentoring 3 people, who don’t report to him, on important leadership facets. Sankalp had to build his leadership competencies all by himself and often struggled with a lot of dilemmas with no one to reach out to when the startup was a fledgling one. Sankalp believes that people in his organization should not have the same situation and has taken to mentoring with all the sincerity and commitment to groom leadership talent in the organization. In the process, Sankalp gets important insights into what drives younger, junior people, what are their challenges and what are their aspirations.

This has helped shape Sankalp into a better leader and has also helped the organization hold on to talented yet restless younger people.

Organizations Need To Adopt Mentoring As “Team Science”

Mentoring has been often referred to as “team science” that delivers the goods to all the stakeholders – the mentors, the mentees and the organization.  By adopting Mentoring, organizations have been able to develop emerging leaders, engage them productively and retain them for a longer term. It’s time organizations take to creating meaningful shared journeys a mantra for success in the workplace.

Setting Goals is Not Enough for Success of Mentoring Program

Mentoring Coaching Onboarding Software

What are SMART Goals?

The concept of SMART Goal appeared first in 1981 in Management Review and is now widely used for setting career, business, financial and health goals. SMART Goal helps in setting goals that are relevant and realistic.

While SMART method is a great way of setting a Goal, it per se doesn’t guarantee achievement of the Goal. What is required is a Process to achieving that goal.

Process for achieving SMART Goals

Scott Adams, the famous creator of Dilbert, in his book ‘How to Almost Fail At Everything and Still Win Big’ describes that the Process is more important than the Goal when it comes to achieving success.

The Process has all the steps built in that ensure incremental progress towards the goal. When the process is followed, one can work towards the seemingly  far goal and achieve it ultimately. Without the Process, one may just lose track especially when encountered with obstacles or distractions.

While setting Career Goals, a similar scenario may crop up. With so many distractions at work and demands on one’s time, it is possible to lose sight of the goal one is working towards. The Process ensures one can pick up the chips and start from where one left.

Further, with disruption happening all the time and all around us, the Process helps in ensuring goal achievement through a step-by-step approach of revisiting some of the inbuilt steps and modify them if necessary.

Process of Breaking down SMART Goals

The Process breaks down Goals into two sub-levels – the first level is near term which could be achieved over 3-6 months e.g. a certification required for achieving the Goal – and the second level is what could be done on a daily or a regular basis at workplace to achieve the first level objectives.

This Process ensures visibility of progress and enabling one to do course correction or bringing one upto speed on Goal achievement.

NxtSpark’s online Mentoring software is based on the underlying Process of Goals and breaking them down to two sub-levels to ensure maximum Goal achievement by mentees, because the primary purpose of the Mentoring Program of an organization is to achieve Goal achievement as many mentees as possible. The Mentoring software also has a way to record and indicate progress at each of the three levels.

NxtSpark’s intuitive, online Mentoring software is a combined effort of understanding Mentoring as a science and using latest technology, to bring the benefits to organizations and its workforce when conducting Mentoring, Coaching and New-hire Onboarding Programs. NxtSpark’s Mentoring software has been appreciated by industry leaders at CXO level and Mentoring Experts like Prof. Kathy Kram of Boston University.

Battling The Talent Crisis

Mentoring Software

In the new organizational era, it appears we have a new buzz term: “talent crisis.” On September 19, 2008, BusinessWeek reported in an article called “The Global Talent Crisis” that, “Companies and countries will need more than 4 billion people by 2020 to fill knowledge worker positions. Projections indicate that there will be shortages between 32 million and 39 million people to fill these positions. The U.S. will have the biggest shortfall—needing as many as an additional 14 million people.”

To add to the bleak picture, consider this: A 2008 study by Deloitte Research found that one in three new hires leave a company within the first year of employment. The first-year turnover rate grew to 31.7 percent in 2007. In addition, according to Business Performance Management (BPM) Forum and Success Factors, which conducted a survey of over 700 human resource professionals (in cooperation with the Human Capital Institute), 98% of respondents said competition for talent is increasing in their industry, and 65% said it’s increasing to a “high” or “very high” degree.

As you can see, attracting, developing, and retaining top talent is likely to remain a challenge. What companies need is a proactive and viable solution to this challenge. Luckily, that solution exists: mentoring programs. Mentoring programs involve matching talented, experienced employees (mentors) with promising, less experienced employees (mentees). Over time, working one-on-one, the mentor and mentoree—and the organization—reap real rewards.

A successful mentoring program benefits your organization by:

  • Enhancing strategic business initiatives
  • Encouraging retention
  • Improving productivity
  • Engender collaboration across departments
  • Linking employees with valuable knowledge and information to other employees in need of such information
  • Using your own employees, instead of outside consultants, as internal experts for professional development

In this article, I would like to share how Mentoring can benefit your organization:

Attract the Best & Brightest

Your organization’s reputation is a huge incentive for eager and skilled prospects to join your organization. However, with ‘talent crisis’ this scenario changes. Think of it like this: if a prospective employee is deciding between a company with an outstanding reputation but a notoriously brutal work environment and an organization with an outstanding reputation and a proven mentoring program that grows and nurtures its top talent, which company will the person likely choose? A planned approach to a person’s career development, such as a mentoring program, has become a “must-have” for organizations that want to attract top talent. When marketing to prospective employees, advertising that your company has a professional and effective mentoring program can be a significant differentiator between you and your competitors.

Develop Your Employees into Tomorrow’s Leaders

Developing your company’s junior employees can be a daunting challenge. Where does a new employee go if he or she wishes to gain from the experience and wisdom of a more seasoned manager? Yes, new employees can always turn to their immediate supervisors and HR directors, but there is an inherent hesitation to do this because the new employee doesn’t want to appear “incompetent” or “weak.” Mentoring can provide not only the experiential wisdom, but also a supportive environment whereby the newer employee can share the real issues affecting success. During the mentoring relationship, mentees and mentors will discuss important issues, such as how to interact and work effectively with your top clients; how to get along and communicate with peers and upper management; how to understand and fit in better with your organization’s “corporate culture”; and how to deal with increased scrutiny; plus so much more. While baptism by fire often remains a popular strategy for getting new employees up to speed, it still makes sense to provide a safe haven—the mentoring relationship—where the associate can relax and let down his or her guard.

Retain Top Talent & See High ROI

According to the Deloitte Research study, “Research suggests that a company’s ‘HiPos’ are the first to be poached and are less likely to stay. Also, a study of investment banks found that when imported from elsewhere, stars rarely sustain their performance in the new organization.” The last thing you want to see is your HiPos walk across the street to one of your competitors. Talent retention affects the bottom line not only by reducing costs, but also by building an effective workforce. Companies often invest hundreds of thousands of dollars in recruiting talent but then stop there and miss the opportunity to get the best return on their hiring investment. Mentoring is a strategic tool that has multiple outcomes for your organization:

  • Demonstrate to new employees the company’s investment in their future with the organization
  • Create a more effective contributor to the company’s overall goals
  • Engender a sense of loyalty in employees

Succeed in Succession Planning

Mentoring is an ideal strategy for enriching your succession-planning program. In succession planning, you’re targeting individual talent to take on increasingly more responsible positions and eventually assume a major position within your organization. This requires solid experience and solid advice from seasoned employees. Adding mentoring as a method of pairing such individuals with your talent pool ensures that the right expertise will complement your succession-planning goals. Mentoring also ensures that your senior managers’ expertise will not be lost once they retire or leave the company. Rather, the expertise will be retained by having been shared with those who are poised to take their place.

It’s evident by now that mentoring programs can achieve many positive results when implemented in the most effective way. Also, read How DHL & Sun Nailed IT With Mentoring to know how you can implement a successful Mentoring Program.

Correct Mentor Mentee Matching Holds The Key

In order to make Mentoring Programs successful, an organization needs to make a significant investment of time and effort. However, investments made by the mentor and the mentee are even greater in terms of time and commitment.

It’s crucial then to make this investment worthwhile.  According to a research report by Catalyst, a leading nonprofit working for over 50 years towards building inclusive workplaces, Mentor-Mentee matching is the most important criteria for a Mentoring Program to be successful.

Successful Mentoring Software

How do you then do that? Here are three useful pointers for successful matching criteria:

Goals should be clear and objectively defined

Without having clarity around goals, it’s difficult to assess what kind of mentoring support is required. The mentee can approach this in multiple ways – self reflection, talk to peers and managers and take a self assessment for goal identification.

Clear Goals lead to Identifying support required

Once the goals are clear, the mentee would know what kind of skills are needed to reach the goals. The mentee can then reach out to the right mentors who have those skills or have overlapping interests and can help.

Matching Should Be Comprehensive

In order to ensure the match is compatible to the mentor mentee relationship, one needs to ensure that matching should be done not only at skills level but also at the interest level, personality type, etc. as they become crucial to the success of the relationship.

Matching with so many parameters can be complex and a manually daunting task. NxtSpark’s intuitive algorithm takes all the matching criteria into consideration and throws up the most optimal matches between a mentee and several mentors out of which either the Mentoring Program administrator or the Mentee can make a choice.

Have Startups Got Their People Strategy Right?

Digital-startups

In the last few weeks there has been an interminable spate of news around Indian startups and their people. Amongst the high-profile exits were Punit Soni the Chief Product Officer of Flipkart left who left after a year at the Indian ecommerce giant, Anand Radhakrishnan CPO of Snapdeal, Manish Dugar, CFO and Samuel John Director, Operations for North America who left InMobi.

In another string of events around people, Flipkart, Stayzilla, Babajobs, Nearbuy and a few other startups delayed joining dates at premier B-school and engineering campus thereby inciting nationwide uproar against these brands and inviting the ire of the management of these prestigious schools.

A sea of opinions from industry experts and HR gurus started floating around on the mainstream and social media about why they shouldn’t have reneged on their offers or not postponed the joining dates. Like many others I also enjoyed reading these opinions and posts.

However, at this juncture, I want to take a step back and reflect on something deeper. Isn’t it time for us to take a pause and ponder what’s going wrong? Will it not be far more constructive to figure out what could be done to set it right rather than pass judgment on their decisions as wrong or right?

Here are a few thoughts and suggestions that I think startups should consider tackling some of these issues:

People Are The Biggest Brand Ambassadors of A Company

And I mean to include those who have worked in the past and those who didn’t get selected in the interview round. Every potential hire does a lot of research about the company before joining as career is one of the most important decisions of life. They find out about the company from their friends who are working in these companies. Also, as work is a significant part of our lives, employees (and former employees) talk often about the company with their friends and family.

So what do you do to meaningfully engage them? It has been observed that money and perks beyond a point are not sufficient motivators.

In 2010, Timothy Judge and others carried out a meta-analysis of research literature that covered over 15,000 individuals and found that the overlap between pay and job satisfaction is less than 2%!

A startup has a lot of business challenges and every employee goes through the same. Startups need to engage their workforce as they try to navigate through these challenges. Do employees have a sounding board in another employee who can help them with some clues? Do they have the ear of an industry veteran inside the company who can help them acquire the required skills to navigate? If the answers to these questions are in affirmative, then employees and alumni of startups will become the biggest PR machinery for your startup.

Talent Engagement Needs to Happen At All Levels

Even senior people need to feel engaged and they can do so by giving away from the veritable storehouse of knowledge and skills that they have because of their varied experiences and years of work across multiple companies and geographies. Established companies like Intel, Sun Microsystems and IBM have understood this very well and have designed Mentoring Programs to not only engage the junior and middle level employees but also gainfully engage their leadership cadres. Across all these levels, these have been able to grow people faster and have been able to retain them longer.

People Strategy Is A Part of Business Strategy

People Strategy is the cornerstone for a startup’s success.

Designing and implementing a sound People Strategy should not be interpreted as having stylish workspaces with candy colored work-pods, cutting-edge fitness equipment and coffee machines brewing beans sourced from Kenya, Sumatra and Brazil.

It’s also not definitely about astronomical salaries that are doled out as a trade off to the employee for the risk he’s taken of joining a startup. All of these are good to have provided there is a well thought out People Strategy to nurture and grow them.

A solid People Strategy should have a well meaning Mentoring Program which has the buy-in of the leadership team can address a lot of people issues and create effective engagement.

Startups should have a strong engagement process during On-boarding too, apart from the orientation. By mentoring the employees during On-boarding period, they get completely aligned with the culture and are able to find a sure footing, thus contributing to the organization sooner than expected.

Startups usually suffer from a deficit in leadership pipeline and a Mentoring Program can develop that by leveraging internal talent available in senior employees to groom high potential people for future leadership roles. This creates a huge engagement point for the senior employees as well as they contribute to the growth of the company and tend to stay around longer.

People Strategy should be a part of the Business Strategy of the startups and should have the leadership of the company completely involved in its drafting and implementation, without which Indian startups are bound to go through difficult times with their people.

Outcomes Of Mentoring in the Workplace

 

Mentoring

According to a recent study by US-based HR Consulting firm Manpower Group, employers need to check with millennials regularly about their career path and development. Rather than annual reviews, focus on near-term objectives. Frequent conversations will enhance their career prospects and long-term employability.

The importance of Mentoring couldn’t be stressed more, especially with an increasing number of organizations doing away with their Annual Performance Appraisals as now it calls for regular connects and conversations around career progress and development.

Mentoring has several positive outcomes for the employee as well as the organizations and can be classified into the following:

1.   Behavioral

a.    Increase in Performance e.g. business success, sales performance

b.    Decrease in Withdrawal behavior e.g. organizational turnover, absence from work

c.    Decrease in Withdrawal intentions e.g. intent to leave organization

d.   An increased tendency to help fellow employees e.g., mentoring others

2.   Attitudinal

a.    An increase in situational satisfaction & attachment e.g., job satisfaction, organizational commitment

b.    An improvement in career attitudes e.g., career satisfaction, career expectations, career expectations, perceived employment opportunity

3.   Health-related

a. Reduced psychological stress & strain e.g. anxiety, pessimistic world view, work stress, role conflict

b. Improvement in self-perceptions e.g., self-esteem, self-efficacy

4. Relational

a. Improvement in interpersonal relations e.g., positive peer relations, peer intimacy, satisfaction with coworkers, peer support, supervisor support, relationship quality

5. Motivational

a. Increase in motivation and a higher involvement in work e.g., hours worked, career planning, job involvement, motivation, aspiration, career commitment

6. Career

a. Improvement in career recognition & success parameters e.g. pay, promotion rate, prestige of job

b. Competence development e.g. communication skills, problem-solving skills, work knowledge, goal setting ability

To know more about how your organization could benefit from Mentoring Solutions, write to us at soumen@nxtspark.com or info@nxtspark.com

How DHL & Sun Microsystems Nailed It With Mentoring

mentoring1Based on a survey it has been found that corporate mentorship is on the rise, with 71% of Fortune 500 companies offering Mentorship Programs. While initiating a mentorship program at the workplace may seem like a daunting task, the rewards the mentors, mentees and company reap are well worth the time and effort.

A 2013 a study examined responses from more than 830 mentees and some 670 mentors participating in Sun Microsystem’s program. Employee retention rates climbed 69 % for the mentors and 72 % for the mentees over the seven-year period of the study. The increased retention resulted in a savings of $6.7 million in avoided staff turnover and replacement costs.

Since 2011, DHL Express has run an advanced mentoring program so employees can learn new skills, understand the company culture on a larger scale and develop a career path. Through this, 60 % of the mentees advanced their careers at the company over the course of a year.

The important takeaway is that Mentoring can deliver outstanding results when executed using the right processes.

Almost every progressive organization has tried Mentoring at the workplace but a lot of them have failed to get the best out of it, unlike DHL and Sun Microsystems. In this post, I want to highlight four critical success factors for a Mentoring Program:

Drive it from the top: Mentoring needs to be driven by the leadership and needs to be accorded its due importance. It can’t be just another HR intervention left to run on its own and die its own death after a while. It has to be driven with strategic intent to retain and engage its top talent and spearhead the organization’s business objectives.

Have a clear purpose: Any Mentoring program needs to have clearly defined objectives right at the onset. It’s equally imperative that the objectives are aligned with the business goals of the organization else the Mentoring Program soon loses its relevance and disappears in thin air.

Provide budgetary resources: An allocated budget is required so that the Mentoring program can run with sufficient resources. Mentoring often requires some amount of promotion for visibility inside the organization in order to sustain the interest of the mentees and the mentors. The program may also entail mentees or mentors traveling once in a while for in-person mentoring sessions. Finally, a reward and recognition program to highlight the best mentors may also be needed.

Execute Mentoring using a scalable technology platform: Most Mentoring Programs fall through the cracks when there is not enough information around how the program is running. A robust Mentoring program needs extensive communication and coordination between Mentor and Mentee, the HR and the management team. The HR and the Management team want to look at the program health through dashboards that give neat analysis of the Mentoring Program. Cloud based SaaS solutions offer easy, scalable solutions that offer a quick ROI on the investment.

Equip your Mentors: Mentors need to know how to manage the expectations of the Mentees and how to follow all the Mentoring processes well. A training program at regular intervals for the Mentors is an absolute must, where they can clarify their doubts and can strengthen their Mentoring skills.

NxtSpark offers Talent Development technology solutions around large-scale Mentoring in the workplace alongwith assistance of training Mentors by a panel of industry experts. Write to soumen@nxtspark.com or info@nxtspark.com for more information.

Why Indian Businesses Need To Invest in Talent Development System NOW?

India continues to be fastest growing country in the world. Riding on this growth, Indian businesses have grown rapidly in the last 15-20 years and now compete with some of the best names in their industry across the world. Indian businesses are no more local, and have gone global both in terms of capturing overseas market and acquiring global companies and brands. Indian businesses have grown sometimes at a pace so high that there has been no time to lay down critical processes and systems that support this growth and scale.

People remain the key differentiator in driving business value. It’s people, talent and their skills that are driving innovation, creativity and pushing the boundaries of business. It then goes without saying that talent is the biggest ‘asset’ for any business which supports all the strategic initiatives of the organization.  Businesses realize this amply well this but the investments commensurate with the significance of Talent Development have not been made.

In the course of my interactions with clients, I have found many organizations are using old enterprise HR solutions which don’t address the needs of modern day Talent Development. Some companies have in-house developed software or even excel sheet based solutions which are fall short of catering to the needs of Talent Development in today’s organizations.

 

Benefits of a Talent Development Solution

For Indian businesses to compete globally, they need to have superior tools for Talent Development. A modern workforce needs a modern Talent Development Solution which can create real engagement with the employees, drive learning initiatives and give measurable results.

A Talent Development Solution with advanced analytics can even point out possible career paths for HiPos (high potential employees) inside the organization. From the perspective of attrition management, analytics can predict ‘at risk’ employees and give time to the organization to plan and retain top talent resources.

A comprehensive Talent Development Solution can help an organization:

  1. Retain top talent as organizations go on an exponential growth path
  2. Boost engagement & productivity to drive the strategic interests of the organization
  3. Increase training effectiveness of both internal and external programs
  4. Acquire new business projects based on organization’s talent repository

 

Implementation of Talent Development Solution

The implementation of a Talent Development Solution is easy and can run simultaneously with existing legacy HR systems, if there be a need for the legacy systems to continue in the transition phase. The breakeven of investing in Talent Development Solution can happen in a few months when the implementation happens in the right spirit.

Businesses must understand this imperative and strategically invest in Talent Development Solution to remain competitive, globally!

Employees Don’t Leave Because of Bosses Alone

In today’s competitive scenario, retention of high quality talent is the key to business success and growth. Organizations amply well understand this, as a recent survey of across organizations demonstrates.

A number of studies show that Milennials are not leaving organizations because of their Bosses or Managers alone. They look at the culture of the organization, growth opportunities, job satisfaction and freedom to use their creativity at work. One of the most important factors of attrition, often overlooked, is when the employee can’t see a future for himself.  A career development plan that gives a sense to the employee that the organization cares for her and that there is a future in the organization becomes the cornerstone for the employee to have a long and successful career in the organization.

Talent Development Solution (TDS) holds the key to build and sustain a career development plan for the employees. The capabilities of a TDS are myriad but sadly not many organizations have implemented a TDS or have a half-baked one at best as the below info-graphic depicts.

A comprehensive TDS can enable the organization to:

  • co-create short-term, medium term and long term goals for its employees thus creating a sense of ownership and engagement amongst employees
  • build milestones and periodically review them with mentors / managers
  • have advanced features using analytics can suggest career paths within the organization; recommend training and certifications and schedule assessments
  • create dashboards that the business leaders could use to craft strategies based on the talent pool available
  • feed exhaustive real time inputs into the performance appraisal process
  • guide the HR using the dashboards to track talent progression and check the cost efficacy of training programs

A comprehensive TDS builds on existing HR data making it easy to implement. Considering that the cost of replacement can be anywhere from 40% for junior level employees to as high as 400% for employees in senior level or in specialist roles, the ROI for TDS can be achieved within a very short time.

The case for a well-crafted and implemented TDS is a strong one and it’s time every organization built it in their organizational strategy to stay competitive, stay relevant.