New HR strategies will be key to talent management

Jan 14, 2022

The business world is changing and organizations are constantly developing new HR strategies. Technological advances, market globalization, customer needs, and strong competition have modified the companies’ operability. Consequently, both supply and demand for talent have evolved and employers are looking for new skills.

For successful organizations, some competencies that were required five years ago, even two years ago, are no longer necessary. Besides, they consider that digital, analytical and communication skills are fundamental in these times.

In this sense, many companies have completed transforming processes of their plans to adjust their business models, global strategies, and organizational approaches. They also understood that the new HR strategies must keep these four skill areas in mind:

Digital skills

Digital skills were inserted in the work culture, so organizations require employees to master the new technologies. Studies indicate that, in Europe at least 80% of managers need to manage basic digital skills. Some of the most important are: Data analysis, social media, expertise in mobile technology, knowledge of multiplatform strategies, and creative thinking.

Agile thinking

Companies are looking for employees with the ability to adjust to achieve the best results. Positive attitude, thirst for knowledge, teamwork, and pragmatism must be among their methods. For this reason, executives give great importance to innovative thinking to face multiple scenarios.

Interpersonal communication skills

In a business world that demands creativity, brainstorming, building relationships, and teamwork, interpersonal communication will be a timely requirement. Nowadays, companies are committed to networking; therefore, the ability to align objectives and encourage collaboration will be essential.

Global operational skills

Companies with a presence on several continents have given huge importance to global operational skills. For them, the worker must have the ability to operate in emerging markets. Aspects of that profile are cultural awareness, language management and communication, international business awareness and networking.

The new times demand new HR strategies

To achieve the success of organizations, it will be crucial to align new HHRR strategies to business management. Therefore, the challenge of executives is to understand how the work of HR and business processes combine to have an integrated approach to talent management.

The use of technology, analytics, and optimization must be present in the new HHRR strategies:

  • Use of analytics for decision making. Data is the basis of artificial intelligence technologies and predictive analysis. HR teams that use data efficiently can anticipate scenarios to make recommendations to organizations. Currently, many companies rely on logical analysis to decide on supply and demand for talent.
  • Segment talent to reduce gaps. It allows HR executives to know the generational differences, job challenges, and employee capabilities. In addition, it is essential to measure the contribution of workers. All this is to determine where the business transformation could affect the demand for talent. Also to know where to invest to reduce skill gaps.
  • Optimize talent. It will allow to decide where to invest and which less critical areas should be reduced. The new HR strategies aim to optimize the workforce taking into account business changes for the benefit of the company. The objective is to align people with the strategies of organizations.
  • Take risks. HHRR leaders must take risks in this changing business world. They must use the data to have all the information. Many companies work with data-based forecasts to identify future risks, and almost all of them use scenario planning.

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