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The Rising Need to Focus and Invest in Talent Management Practices

By SJ Raj, Senior VP HR, Newgen Software Technologies

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SJ Raj, Senior VP HR, Newgen Software Technologies

Newgen Software is a provider of Business Process Management (BPM), Enterprise Content Management (ECM), Customer Communication Management (CCM), Document Management System (DMS), Workflow and Process Automation software. A pioneer in the Digital Transformation space, the company has a global footprint in over 60 countries.

Employees are often termed as valuable resources and almost every established organization owes a maximum share of its success to its hardworking and talented workforce. Beginning with hiring brilliant minds to work for them, companies consistently keep on grooming and training the employees to refurbish their talent in accordance with changing times and technological advancements. One of the most important strategies of corporate administration, talent management plays a crucial role in renovating the talent pool of an organization driving towards overall business objectives.

• How has space for talent management developed throughout the years? Give understanding into the sort of advancements that the area has grasped throughout the years.

Well, the talent management space has moved eons in a few decades, starting from managing blue collared employees as industrial relations managers to managing millennials, who have changed the workforce completely. From being focused on managing union and trade relations to building HR processes for the management and development of people, along with the automation of the processes, we have come a long way.

• With the world seeing fast innovative headways how has innovation aided talent management? What present-day age advances in the area anticipating?

Without innovation, we could not have moved to current talent management practices. It’s because of constant innovation only that we have moved through digital communication, to social media-based management practices to Artificial Intelligence (AI) and robotics-based practices. The area is witnessing major advancements in terms of leveraging new-age technologies, including Robotic Process Automation (RPA), Artificial Intelligence/ Machine Learning (AI/ML), social sensing, mobility, and analytics for talent management.

•As the talent management industry is prospering at a wild pace, what future possibilities do you think the section is standing by?

The way in which the onset of the internet revolutionized how we do things; a similar wave has erupted in this industry. The capabilities of AI/ML, RPA, Internet of Things (IoT), and Blockchain, have made it imperative for talent management professionals to ensure that they have a new breed of technology experts for effective adoption and sustenance of these new-age technologies.

• How is this market helping in building a progressively intelligent and firm working environment? Additionally, what are the open doors winning in the space right now?

The market, which is now 90 percent millennial, and Gen Z just about to enter, has a compelling reason to change the way it operates. The talent management practices have evolved with the requirements of the market, making the practices in line with their requirements, leading to firm environments. A lot, however, still needs to be done to make the work environment smoother for the large demands of the current workforce.

• What job does talent management play in the achievement of an association? How would you figure it can help an organization to drive towards greatness?

Without well-managed talent, the assets of an organization indeed would have difficulties in driving business growth. And, there is no two-way about the role of talent management in the achievement of organizational goals.

• What procedure should an organization embrace so as to support a worker's presentation while holding the top talent of the organization?

It's not the procedures that lead to loyalty and eventual retention of talent. It is trust, faith, transparency and genuine concern about the employees that leads them, which not just only raises them professionally but also encourages them to stay loyal and ensure the organization’s growth.

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