What makes some organizations more successful than others? In today’s world, where everyone has easy access to the newest technologies and high-speed communication, what is the one thing that gives your company the key competitive advantage? The answer is people. Human resources embody your organization’s potential to acquire, share and apply knowledge that drives efficient corporate performance.
New innovations and processes are easily replicated by competitors and hence to clinch the winning edge over others, efficient talent management practices are absolutely vital. Simply put, your approach towards managing talent can make or break the company’s strategic goals for success.
Talent strategy, a necessity.
The digital revolution has led to fast-paced, forever changing ways of working and has directly affected traditional employee relationships, from how you hire and manage, to how you engage and communicate with employees. The talent pool is getting bigger everyday and based on the Glassdoor reports in 2018, 76% of hiring decision makers say finding quality candidates is their biggest challenge. To overcome this, employers must translate business needs into talent strategies and inculcate a strong people culture that reinforces the organization’s employee value propositions.
Talent management is not purely about developing employees and creating succession plans, it exists to fundamentally support the organization’s overall objectives. Simply put, your approach towards managing talent can make or break the company’s strategic goals to success.
Employers must translate business needs into talent strategies and inculcate a strong people culture that reinforces the organization’s employee value propositions. It is key to use talent analytics to make strategic decisions, identifying areas where employees need most support and find preferred means of development based on data.
The UAE knowledge economy
The UAE is currently undergoing a massive transformation into a knowledge-based economy. As part of the UAE Vision 2021, the nation is heavily investing in its labor market, targeting a 40% increase in knowledge workers.
The Middle East has a workforce that is young, tech-savvy and ambitious. 40% of the local population is under the age of 25, and strikingly, most of it remains untapped. When it comes to optimizing the human capital through education and skills development, it is approximated that countries like UAE and Qatar capture up to 68% of human potential in expanding their learning architectures to support professional development needs, which means the scope for further talent development measures is massive.
A recent survey revealed that almost 86% of employees in the UAE expressed an intention to move their jobs in the near future. In spite of flourishing businesses and enhanced quality of life that comes with it, retaining talent remains a major opportunity, and at the same time, a major challenge for companies.
Against this backdrop, now might be the right time for companies to rethink their employee retention strategies.
Optimizing human resource management
HR professionals today are shifting towards solutions that assist them in managing tasks from recruitment to talent management much easily. According to global HR industry trends and insights in 2018 by PWC, at least 40% of companies (out of 300 surveyed) have their core HR applications in the cloud.
Levtech’s Performance and Talent Management suite, built on Microsoft Dynamics 365, has a fully integrated HR module that helps identify top talent and engage and align them around a compelling set of objectives. Dynamics 365 streamlines the various HR tasks and automates processes relating to staffing such as training, employee retention, benefits administration and performance management.
The Dynamics 365 suite helps in efficiently managing talent across various stages of employee experience.
Over the last few years, there have been massive changes in the professional landscape. Starting from how people look for jobs, to employee expectations, to how companies engage their workforce, everything has changed. With the very culture of work undergoing a huge transformation, employers and hiring managers will be forced to open doors to new ways of recruiting, new ways of engaging employees and new ways of maximizing performance. Many HR tasks and traditional approaches to managing people will gradually become obsolete, and the move toward cloud-based IT solutions will push for agile talent practices in organizations.
To understand how Microsoft Dynamics 365 can help your business operate to its optimum potential, please reach out to us at email@example.com.