Are you ready to up your game and ensure that you stay relevant to an organization by increasing your skill set and staying ahead of global HR policies? With businesses going overseas, it is but natural that Human Resource Management Process go undergo some imperative changes. And what sort of changes human resource department may have to undergo? Read here.
Two of the major challenges that HR leaders may face globally will include acquiring and retaining the right talent. As acquiring the right talent becomes more difficult, it will be all the more difficult to retain them. This is where HR leaders need to up their game and come up with strong human resource management process that includes making the entire employee experience rewarding right from the interview so that they are able to cut through the noise, reach the right candidate and acquire him or her for their organization.
Human Capital Management And Millennials
Before we go further into hiring and retaining millennials, it is quite important to learn about human capital management. So what is human capital management? Let’s understand it.
Human Capital Management or HCM as it is known in business parlance is nothing but broad set of practices that involves recruitment, management, development and optimization of an organization’s human resources.
Now how does it connect with millennials? Millennials are the new breed of workforce who want their freedom while working and give utmost importance to work-life balance. So where is the challenge here?
Human Resource Management And Challenges Millennials Offer
From attracting to finally acquiring the right talent to retaining them, human resource management faces numerous challenges. And one such challenge is hiring and retaining millennials in an organization. The foremost challenge any human resource professional faces is to cut the noise and make millennials hear about their organization. Industry insiders say that acquiring and retaining are the two biggest challenges that a human resource department faces today.
The reason is quite simple. They have more job opportunities and hence take their time in deciding which organization to join. So how does human resource management handle this challenge? What can HR personnel do in order to attract millennials to his or her organization?
- Improve the interview experience: Usually millennials make their decision at the time of interview and hence the interview experience has to be quiet pleasant for an employee. You can make interview session pleasant by keeping it conversational and allowing the candidate to speak rather than a question-answer session.
- Keep the recruitment process interactive: Keep the entire recruitment process interactive where a candidate may ask questions about the status of his or her application. Interactive recruitment process will keep the interest alive in an organization.
- Open door policy: Open door policy in an organization ensures that the managers are approachable and ready to listen to employees.
- Reward the performances: Occasional appreciation ensures that an employee is valued and appreciated in the team.