The importances for HR Analytics functions have been increasing over the years. A company or organizations are represented by its employees. Companies are starting to look for strategies and tools to improve the HR department to make sure the growth of the organization that includes inventory skills, gap analysis skills, HR analytics, and workforce analytics.
However, the HR departments deal with few deadly challenges that continuously turn out to be a hindrance in their growth path. Recruitment and retention of talented employees, corporate culture and leadership development are the three major challenges in it.
Recruitment and Retention:
It is the most challenging issue that HR department face today. Recruiting plays a vital role in every single function of the company. Professionals foresee that retaining employees with talents will be the greatest problem in 2022, according to a November 2012 poll by the Society for Human Resources Management. Around 59% seasoned HR believe in next few years retaining talented, skill full and well-performing candidates can be very difficult task.The rapid growth of market competitiveness add more risk to it.
Millennial corporate culture has become one of the deciding factors recently. Elevating market demand is pushing companies to grow, expand, and sustain within the volatile market scenarios. Research by HR professionals has proven that culture influences organizational performance, even if the performance is defined in the basis of customer satisfaction, attendance, safety, stock price, or productivity. Better workplace with better culture are more financially successful that the others.
Having better corporate culture also results in creating an environment to recruit top skilled candidates those fit their culture and needs. Employee sourcing, selection and retention is improved by good corporate culture. Corporate culture depends on the employees of the company, if the corporate culture doesn’t synch with the employees it could be difficult to change them.
A poll conducted by the pricewaterhouse coopers in 2010 has indicated that leadership development will be a major challenge to the HR development. About 52% of the respondents accepted this as a concern and there was an increase of about 29% over 2010. As companies grow and expand over the years, Leadership development has become an essential initiative. Today it is one of the most repeated reasons that employees put forward while quitting their jobs. Poor Leadership directly affects the process of retaining a skilled employee. The future is skills and managing skills effectively. Your HR leaders can definitely lead your company to the next orbit of growth, by focusing skills matrix and skills management of your organization. Check out high performing skills managing tools inventory skills, gap analysis skills, HR analytics, and workforce analytics and let us know the feedback.