Feb 7, 2022 | 4 min read
3 challenges while managing employee performance and ways to fix them
Organizations know that they must have the best talent in order to succeed in the hyper-competitive and increasingly complex global economy. Managing an unwieldy mix of targets, people, resources, activities, and still creating a cohesive system, can be a challenging task for managers.
The below are some challenges leaders need to watch out for in managing their talents, backed by solutions.
1. Only 19% of 20,000 new hires are striving
Hiring the right talent is critical to the future of business. Although organization allocates a tremendous amount of resource on hiring, low quality of hire is more than common
Solution
Understand skills and talent demand when recruiting
2. 75% of managers surveyed were dissatisfied with companies' Leadership & Development function
Some also reported that they don't have mastery of the skills needed to do their jobs and only 12% of employees apply new skills learned in L&D programs to their jobs
Solution
Future-proof workforce with relevant skills and constantly measure training effectiveness by understanding time taken to be proficient, knowledge and skill retention, and whether employees can translate their learning to their jobs
3. 59% of recruiters surveyed suggested that retaining top talent is among the top three challenges of HR
Companies need to attract and retain enough employees at all levels to meet the needs of organic and inorganic growth. For example, HBR reported that Essar (an Indian conglomerate) has grown from 20 thousand employees to a staggering 60 thousand from 2005 to 2008. However, 55% of their employees have less than two years of tenure
Solution
Understand employees' aspiration and personalize their career development plan
Wrap Up
The job market changes as new generations of candidates enter the workforce and leads to shifting the needs of an organization in the face of new technology and HR will always face unique challenges. By being aware of some of the greatest challenges that HR faces today, you will be better equipped to deal with these issues both now and in the years to come.
What did we miss? What are your biggest challenges in managing talent?
The below are some challenges leaders need to watch out for in managing their talents, backed by solutions.
1. Only 19% of 20,000 new hires are striving
Hiring the right talent is critical to the future of business. Although organization allocates a tremendous amount of resource on hiring, low quality of hire is more than common
Solution
Understand skills and talent demand when recruiting
2. 75% of managers surveyed were dissatisfied with companies' Leadership & Development function
Some also reported that they don't have mastery of the skills needed to do their jobs and only 12% of employees apply new skills learned in L&D programs to their jobs
Solution
Future-proof workforce with relevant skills and constantly measure training effectiveness by understanding time taken to be proficient, knowledge and skill retention, and whether employees can translate their learning to their jobs
3. 59% of recruiters surveyed suggested that retaining top talent is among the top three challenges of HR
Companies need to attract and retain enough employees at all levels to meet the needs of organic and inorganic growth. For example, HBR reported that Essar (an Indian conglomerate) has grown from 20 thousand employees to a staggering 60 thousand from 2005 to 2008. However, 55% of their employees have less than two years of tenure
Solution
Understand employees' aspiration and personalize their career development plan
Wrap Up
The job market changes as new generations of candidates enter the workforce and leads to shifting the needs of an organization in the face of new technology and HR will always face unique challenges. By being aware of some of the greatest challenges that HR faces today, you will be better equipped to deal with these issues both now and in the years to come.
What did we miss? What are your biggest challenges in managing talent?
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entomo is a modern performance management software and talent management platform built for the ‘future of work.’ Powering 30mn+ users, entomo enables ‘enterprises of tomorrow’ to drive performance by aligning goals and nudging actionable insights to manage distributed & remote teams and build a tomorrow-ready workforce. Contact us to find out more |
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