Sustained business success requires high performing organizations. Organizations that have talent management as one of its strategic priorities have a workforce that is more engaged, skilled and productive. The reason why organizations consider talent management as one the strategic priorities is because they view talent as critical to their business and talent strategies and commit themselves to create an ecosystem that enables people to perform and be successful. This is eminent from the difference one can feel just by walking in high-performing organizations.
Getting the talent management efforts right in the organization helps an organization worry less about the talent related issues and more on the business outcomes and opportunities. While almost majority of the organizations realize that organizational and people capabilities drive financial and operational performance but many of them do not know how to measure these capabilities and further improve them. Further, there is a significant difference in the talent management process of an evolved organization and the organization where the transformation or a change management process is ongoing.
Unified talent management processes and initiatives help the HR and the business managers understand the talent needs of the company, to develop and nurture the talent through organizational and individual career development perspectives. Talking about my organization Uflex, the company over these years has grown exponentially and is today a truly global Indian MNC with group revenue in excess of $1.5 bn. with state-of-the-art manufacturing facilities in 6 countries across globe and sales across 140 countries. We as an organization are on expansion spree. As the company is comfortably consolidating its position as a truly Indian MNC with multiple overseas production facilities spanning across countries like Mexico, Dubai, Egypt, Poland and USA, it has started looking at its employees career advancement by evolving its talent management strategies.
Developing, implementing and improving a global talent management strategy that caters to the needs of the diverse talent pool matched with the business expectations and reality is how HR at Uflex helps the business gain a competitive advantage and maintains our leadership in the domain of flexible packaging.
One of the important questions that trigger every CEO and HR head today is where we start from.For the talent management strategies to be effective and successful, it is important for the organizations to realize that talent management is not just HR’s job. Talent management is typically considered a responsibility of HR. Yet businesses that thrive and grow have leaders who understand that they are not only in charge of managing their budget and numbers, but the people that work for them as well. Successful talent management is not confined to recruitment, employee retention and development of a high-performing workforce.
Organizations also need to ensure that they align their talent management processes with theirculture, values and strategic goals. In order to create this alignment, it is important for the HR function to be capable enough to play the role of a partner. They need to move beyond the role of a subject matter expert and develop themselves into strategic thinkers. Further, workforce analytics provides HR with an important tool to gain a better understanding of the skill gaps and an opportunity to impact the business performance through talent management decisions.
Every company has unique talent challenges and business drivers which call for customized talent management solutions. It is truly said that failure might have their own set of causes but success has a set of definite rules. Therefore, for organizations to be effective and successful, talent management must be an integral part of the business strategy. Alignment and integration with the critical aspects of the organization is another important rule that sets the path for success for global talent management practices.
Finally, creativity is the key to consistent evolution. As our chairman Mr. Ashok Chaturvedi puts it “whatever you achieve has to be maintained” and it is very important. As we partner to deliver on the strategic business objectives, the graph of expectation goes up and maintaining consistency and scaling up the maturity model becomes a critical success factor. For any effort to be successful may it be personal or professional, there is a need for discipline, innovation, and sheer persistence to see lasting results. Innovative ideas in tandem with effective execution will translate into a strong talent base and an internally built pipeline of leaders that will prepare the organizations to face the challenge ahead.
Mr. Chandan Chattaraj
President – HR (India & Global)