Human resources professionals and business leaders have long known that investing in talent management drives growth and business results. Having a well-designed talent strategy not only drives growth in emerging markets, but also gives organizations a competitive-edge in attracting, hiring, retaining and nurturing skilled employees.
HARMAN understands the importance of creating an environment where people feel valued, contribute in a meaningful way, have a voice in the company regardless of their position, and are rewarded for excellent work. Our talent management strategy is designed to empower our employees and give them the tools they need to connect them toa stellar career within the company.
Here are a few effective strategies any company can leverage to fuel their talent pipeline and stay competitive.
Unearth Talent Competencies through Succession Planning
While organizations realize that succession planning is an important priority, few manage to orchestrate it well. Just last year, Deloitte found that 86 percent of leaders believe leadership succession planning is an “urgent” priority, yet only 14 percent think their companies do it well. So how can companies overcome the succession planning paradox? Numerous studies believe the solution lies in an approach that melds data-driven and people-centric elements.
"Gathering honest employee feedback allows leaders to discover potential areas for improvements and make employees feel valued and respected, which can improve employee productivity and organizational performance"
At HARMAN, our succession planning process combines the use of technology and individual feedback to anticipate talent’s key competencies. Looking at the people-centric side of the equation, the HR department gathers qualitative information like an individual’s career objectives, the programs and/or tools that employees think will be most beneficial to their future professional growth, and so on. From a diversity and inclusion standpoint, business leaders have the opportunity to identify ‘women worth watching’ within the organization. In our multiple diversity & inclusion global and local forums, we also encourage all colleagues to share their ideas for new female-focused and diversity learning programs that they’d like to see come to fruition.
Knowing that the identification process can become complicated and time-consuming, we leverage software platforms such as Success Factors to collect data and streamline the succession planning process.
By leveraging the combination of technology and our own employees’ insights, we’ve found that we can quickly identify the highest potential employees for key roles and move those promising candidates into the succession plan, thereby ensuring plenty of time for training and overall development. A company can dramatically improve the likelihood of a seamless succession plan for an individual, their team and the company as a whole by building competency models into the foundation of any succession plan.
Provide a Connected Network through Resource Groups
Gathering honest employee feedback allows leaders to discover potential areas for improvements and make employees feel valued and respected, which can improve employee productivity and organizational performance.
There are many different ways HR leaders can engage with their employees to hear their needs and suggestions. As a global technology company with more than 30,000 employees, we’ve personally found great success in incorporating feedback from the many stakeholders across the company through the HARMAN Women’s Network (HWN), a resource group open to all employees. With 28 chapters in 14 countries, the group has served as a valuable mechanism through which we introduce and execute on-site employee programs, activities and unique solutions to support profitable growth and productivity. Through the program, the HWN chapter leaders receive valuable feedback and insights from employees across different locations that help address local needs. The network has also serves as a sounding board for employees to make recommendations or raise issues that impact global practices across HARMAN.
EVP: The Magnet for Attracting Candidates and Retaining Talent
The way companies recruit has changed. Research from the MRI Network, one of the largest recruitment organizations in the world, proves that vast majority of the current job market is candidate-driven. Employers have to be creative in the way they differentiate their company against competitors to attract those perfect candidates.
HR leaders can help a company differentiate themselves by creating a compelling Employee Value Proposition (EVP) and coherent Employer Branding Strategy, which highlights your organization’s culture. While the concept isn’t new, it has gained renewed importance due to the cut throat war for talent. Employees have an equal opportunity to make their company’s EVP plan succeed. By sharing their positive work experiences and views on the company, employees feel valued for their contributions and new talent can read up on why the company is a great place to work.
This summer, HARMAN’s talent management team is thrilled to roll out our refreshed EVP and Employer Branding program, which will encourage our global employees to share authentic stories about their positive experiences working for HARMAN. We plan to share these inspiring employee stories on our public career site and social media channels to allow prospective new talent see HARMAN’s core values of integrity, inclusion, teamwork and respect and innovation, in action - as well as posting them onHARMAN’s intranet.
A well-implemented EVP plan can make all the difference by empowering people to act as brand ambassadors and become a strength to their organization. It is important that an organization consistently communicate their EVP plan through various channels, both internal and external, in today’s competitive job market.
As a global technology company, we have plenty of cutting-edge innovations, but we know that it’s the talented and brilliant minds behind our innovations that truly make HARMAN unique. If your company is looking to outperform competitors and win the war for talent – HR professionals and leadership should make building a game-changing talent management strategy a top priority.