The human workforce is considered one of the most important organizational assets in this era of technological advancements and the continued successful evolution of technologies. Although technology, along with automation, is replacing many labor-force-intensive activities, I believe human resources is not only the building block of progress but also responsible for technology and its implications in the business world.
In order to compete with technology today, there is a need for predefined leadership criteria for all functional areas of an organization. This helps to identify the explicit competencies (i.e., investigative, technological, learning and skill) that need to grow for the ongoing development of HR management and company operations.
What factors affect HR development?
One of the internal factors limiting HR development in businesses includes a low amount of return on investment cost upon the training and development of employees. In my experience as the president of an IT communications company, organizations usually receive returns on a training program’s investments in the form of increased productivity. But those returns are only realized after the installation or integration of innovative technology, providing proper training and orientation to the employees. Even then, you might only see a fraction of the return you were hoping for.
There are also certain external factors, such as economic changes, that can provide challenging circumstances for business management working to streamline operational capacities. In most organizational cases, there is the involvement of technology and innovation in a continuous pattern. Therefore, in order to facilitate the technological infrastructure with resources to succeed, the economy plays an important role in an organization’s growth and ability to attract and retain quality employees. In order to be successful, management will need to plan for long-term strategies and predict change.
The latest emerging trend in the infrastructure of technology and the associated economic changes are a particular target. Management needs to address this fluctuating situation in a flexible way so that the results can be effective and productive. The economic fluctuations with certain employment laws and various other concerned external issues ultimately affect the capability building in the organization. In order to deal with the economic fluctuation about the trends of technological advancements, flexibility needs to be in the strategic decision-making process.
Internally, despite all the involvement of technology, business managers cannot negate the significance of planned, well-trained and well-managed HR in the data center business infrastructure. On the other side, the contextual factors also involve both HR and the technology equally. After evaluating the external and internal factors that could be affecting your HRM strategy, I’ve outlined five recommendations that can play an important role in signifying the capability building blocks and maintaining a strong HR team while having a technology-based business:
1. Align business strategies with external and internal factors. For example, consider how your current strategy aligns with economic changes (i.e., external factors) and the expectation of a high return on investment in the case of training and development costs (i.e., internal factors).
2. Ensure your talent strategy also aligns with the company’s overall plan. The main and essential key to managing a provocative workforce is to streamline the strategies of the talent management process alongside the overall company strategy. Ultimately, the aptitude of training, developing and then retaining the employees depends upon the success of the business operations.
3. Get ahead of your competitors by being proactive. In my experience, leaders who use the best talent management practices find themselves more equipped and can make effective use of available opportunities to help operate their businesses. But this is only obtainable when management does more than just adopt new trends; they must quickly anticipate and adapt to new and emerging opportunities regarding talent management before the rest of the market. In this manner, executing a proactive approach, rather than a reactive approach, indicates the implications of the strategic talent management in the business processes to support the capability development in the organization.
4. Evaluate what training is essential, and execute it well. Evaluating key areas and the need for training is mandatory. It’s also helpful for saving on abundant training costs involved with the workforce. The execution of the training and development is a necessity because of its impact on the involvement of change management in the business processes.
5. Use various tools to assess the capabilities of your workforce. Annual appraisals and reviews can be highly effective tools to analyze the capacity and capabilities of the workforce if conducted consistently and correctly. Therefore, I recommend organizations adopt a pay-for-performance culture in their organizations to boost the productivity of employees. From my perspective, this might encourage employees to work harder and thus improve their capacity to adapt to changes and innovations.
All companies that surpass their rival industrial competition know that well-planned talent management practices are essential criteria for success. A well-planned HRM strategy plays an important role in managing the accurate workforce, which is necessary for successful technology implementation and integration. Make use of analytics and investigative tools to understand trends and identify extraordinary change, which is beyond the generalities or intuitive predictions. And finally, the aptitude of training, developing and then retaining the employees ultimately depends upon the success of the business operations.