How can you effectively identify and address your talent and skills gap?
In an evolving world of work, the only constant is the change that comes with it. The role of talent has been revolutionised by the use of data but still, we hear about talent functions not truly understanding their current business situation before trying to make the next steps.
Where does your current focus lie within your talent journey? Is there more focus on recruitment than retention? Do you have an understanding of your current talent infrastructure? Across Germany, 45% of employees are currently considering or have already left their job. (Talent Index Data from Germany)
The BTN was recently delighted to partner with Beamery, the leading Talent Lifecycle Management organisation, for an exclusive roundtable with some of the leading people champions across Germany. The open and interactive session was hosted by Kartik Krishnan (New Markets Expansion Lead - EMEA and APAC at Beamery) and John Thompson (Account Executive - EMEA at Beamery), which brought about the following takeaways:
Internal mobility strategies are key in helping existing employees move between roles
With a multigenerational workforce in full swing and the job market more diverse than ever before, candidates are on the hunt for organisations that provide equal opportunities and support employees from diverse backgrounds. Hiring diversely is proven to attract a higher-quality workforce, which has obvious knock-on effects on the ability to enhance an organisation's innovation and long-term productivity. However, many companies are not diversifying their recruiting efforts, which creates many challenges and risks.
Organisations may also find there are some challenges when it comes to internal mobility and identifying which policies should be put in place. Having an internal mobility strategy can help existing employees move between roles both vertically and laterally. So the question is, what programmes have existing companies put in place to overcome some of these challenges? One of the attendees spoke openly about the development of an internal talent attraction program. This allowed their employees to see themselves acting in the job that they were placed in. This can become extremely beneficial for organisations as it can help them gain new talent in areas
The conversation opened up to speak about the role of HR technology and external support. Leveraging an industry-first AI-powered Talent Graph, Beamery’s Talent Lifecycle Management platform helps organisations realise their business potential. They can identify and prioritise candidates that are likely to thrive at their organisation, reach diversity targets, unlock career ambition opportunities for existing employees, and understand the skills and capabilities they need to build their workforce of the future.
An international assignment is necessary in creating diversity
Transferring an employee to an overseas host country can be extremely risky, time-consuming and costly, however, international assignments are vital for talent attraction and retention. Relocation schemes are an excellent way to nurture employee engagement, attract new talent, increase diversity & inclusion and share knowledge across organisations.
The point was raised around a talent program within one of the organisations where these employees are vetted by the teams in which they find what the employee is interested in, this then helps with the onboarding process. So why are international assignments beneficial? The benefits of talent attraction are obvious as professionals can gain international work experience, enhancing their career prospects in the long term. Once talent goes International, you create openness and enable the company to look at specific challenges from different perspectives. It was stated that “You can’t move up if you don’t have international experience".
Motivation in employee retention is essential to keeping your employees productive
Retention of a positive and motivated employee is vital for an organisation's success. So how can retention be met? Implementation of an employee retention program is an effective way of making sure that the pivotal workers remain employed while balancing and maintaining job performance and productivity. Some firms aim to implement career plans and KPI metrics to track and monitor employee retention. Implementing this can change the motivation of individuals in teams resulting in a higher employee retention rate whilst also becoming higher performers.
To summarise, in an evolving world of work where change is constantly happening, it is important that companies are able to implement internal mobility strategies when helping employees move between roles, implement internal assignments in order to create diversity, and motivate their employees in order to maintain employee productivity.
Beamery’s Talent Lifecycle Management platform allows enterprises to create more human experiences for all talent, and unlock the skills and potential of their global workforce. We help organizations identify and acquire top talent, move the needle on DE&I, close key skill gaps and retain top performers. We’re on a mission to create equal access to work.
Leveraging an industry-first AI-powered Talent Graph, Beamery’s Talent Lifecycle Management platform helps organisations realise their business potential. They can identify and prioritise candidates that are likely to thrive at their organisation, reach diversity targets, unlock career ambition opportunities for existing employees, and understand the skills and capabilities they need to build their workforce of the future.
Beamery is one of the fastest-growing companies in the world and we’re excited to have recently raised a $138m Series C.