The 2008 market crash
cast doubt in many leaders’ minds in regards to the future of their
organizations and the possibility of sustained growth. It led to a retrenching
of companies and their capital, both human and financial. Fortunately the
economy is now undergoing a consistent recovery and businesses must shift from survival to evolution mode in order to ensure that they
profit from current opportunities.
A host of
factors make today’s business
environment unique and, as has
been the case in every era, those who understand the spirit of the age and
capitalize on its possibilities possess
an undeniable edge over competitors and are ensured maximal success. The
distinctive trait of business today is the rapidly changing nature of the
workforce: baby boomers are reaching retirement age and are steadily exiting
the market, while Millennials are entering the market and bringing about new notions
of what human capital is and what one expects from a career. Just like
capitalizing on the “nuclear family” model fueled the post-World War II
economic boom, the ability to effectively employ this new type of human capital while maintaining a
balance with the existing talent will enable visionary leaders to super-charge
the current economic upturn.
Millennials have
particular expectations and skills which must be harnessed to serve an
organization’s strategic goals, while their talent must be thoroughly managed
to ensure that individual attributes don’t translate into organizational flaws.
Moreover, this new type of talent is as mobile as it is global, creating an
ever-evolving paradigm of competency and specialization patterns. For example,
The Intelligence Group Study[1] found that 74% of Millennials prefer flexible work
schedules and it is common knowledge that they possess outstanding skills and
sensibilities regarding social media.
These characteristics could either be strengths or weaknesses, depending on how
they are aligned to strategic
values.
For any
organization, the key to successfully balancing human capital needs and
business objectives is to have internal alignment between the people that make the
organization work, and the stated objectives the organization has given to the
internal and external stakeholders. Powerful tools can be utilized to match
your talent with the strategies they best serve, and
monitor performance in order to ensure alignment and enrichment of both the
workforce and the organization’s bottom line.
Nakisa can help you
streamline goal alignment and the performance appraisal process so that you can
focus on developing your top talent and calibrating their efforts to support
your company’s most important objectives. With Nakisa® Goals & Performance™ you can:
•
Cascade
strategic goals across the organization using Nakisa ‘s configurable structures
•
Respond
quickly and accordingly to changing market conditions by leveraging the
on-going performance management model
•
Provide
visualization and reporting tools for easy identification of where your
organization is going and how it will get there using the flexible charts and robust analytics
•
Make
performance appraisals a joint and transparent activity with the employee by using
Nakisa’s collaboration tools such as
discussions, feedback and ratings
To learn more
about Nakisa® Goals & Performance™, don’t miss the upcoming Nakisa webinar on September 3, 2014 at 10:00am ET.
[1] Source: http://www.forbes.com/sites/robasghar/2014/01/13/what-millennials-want-in-the-workplace-and-why-you-should-start-giving-it-to-them/
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