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The first article on the way by the club.
The major challenges and solutions of the organization and management.
1. Attracting and retaining enough employees at all levels to meet the needs of organic and inorganic growth. Companies are facing a talent crunch. Essar, for example, has grown from 20 thousand employees to a staggering 60 thousand in the past 3 years. Fifty-five percent of their employees have less than two years of tenure.
Solution
By providing good working Conditions, Pay scale, Growth for the employees at all levels, Job satisfaction, Promotions, Delegation of authority, Socialization.
2. Creating a value proposition that appeals to multiple generations. With four generations in today’s workplace, most companies are struggling to create an employee experience that appeals to individuals with diverse needs, preferences and assumptions. The Gap, for example, has 153,000 people in its workforce. The stores have a high percentage of Gen Y employees, while corporate roles and leadership ranks are primarily made up of Gen X’ers and Boomers. How does one create a compelling employee value proposition for the organization?
Solution
Recruitment at all levels of hierarchy, creating a brand image of the organization.
3. Developing a robust leadership pipeline: - One of the biggest potential threats to many corporations is a lack of a robust talent pool from which to select future leaders. This is in part a numbers issue—the Gen X cohort is small and therefore, as I like to say, precious. But it’s also an interest issue—many members of Gen X are simply not particularly excited about being considered for these roles. There was wide agreement among the panelists that a lack of individuals ready to move into senior client manager and leadership roles is a critical challenge.
Solution
Giving the first priority to the employees of the organization, No biased decisions, Performance based leader.
4. Rounding out the capabilities of hires who lack the breadth of necessary for global leadership. It’s relatively straightforward to identify and assess experts in specific functional or technical arenas, but much more difficult to determine whether those individuals have the people skills, leadership capabilities, business breadth, and global diversity sensibilities required for the nature of leadership today. Increasingly, the challenge of developing these broader skill sets falls to the corporations.
Solution
Forming the academy specifically to develop and groom its own leaders, Executive Coaching, Cross-cultural Competency
5. Transferring key knowledge and relationships. The looming retirement of a significant portion of the workforce challenges all companies, but particularly those who are dependent on the strength of tacit knowledge, such as that embedded in customer relationships, a key to Mercer’s business success.
Solution
Create the future of knowledge-based relationships, including distributed value creation and virtualized organisations, Demonstrate the value of knowledge management by linking it to value creation and core strategy, Develop effective personal networks based on trust and knowledge sharing.
6. Redesigning talent management: – The challenge of calibrating talent management practices and programs to attract and engage our young entrants is critically important to all firms and particularly so for firms that depend on a strong flow of top talent, such professional service firms like Mercer.
Solution
Strategy development, operational planning, individual goal setting, budgeting, reporting, measurement – to encourage the values, mind-sets and behaviors you have defined in your target culture.
7. Creating a workplace that is open to Boomers in their “second careers.” Age prejudice still exists, but smart companies are looking for ways to incorporate the talents of Boomers and even older workers in the workforce. In many cases, this requires rethinking roles and work relationships.
Solution
A Transition to a Future State, Two Key Needs: Forward-Looking Leaders, Plus Experienced Guides.
8. Overcoming a “norm” of short tenure and frequent movement. Some industries, such as specialty retail, are known for having a very disposable view of talent. Company’s intent on changing that norm, such as The Gap, must address both external influences in the marketplace and an internal mindset. The Gap believes retaining employees in roles for 3+ years will be a key to their future earnings growth.
Solution
Attracting and recruiting qualified candidates with Competitive backgrounds, Managing and defining competitive salaries, Training and development opportunities, Performance management processes, Retention programs, Promotion and transitioning
9. Enlisting executives who don’t appreciate the challenge. Many talent executives complain that business leaders still believe that people are lined up outside the door because of the power of the company’s brand. The challenge of enlisting the support of all executives for the transition from a talent culture that has traditionally operated with a “buy” strategy to one that places more emphasis on “build” is widely shared.
Solution We believe in the reality of a spiritual world that exists now in parallel with the physical universe, we believe that it is good for us to care for our environment.