The tech sector continues to develop a broad spectrum of talent-related innovations that impact numerous industries. As I discussed in the first post in this series, this has involved the design of new platforms to efficiently identify and recruit potential employees. In addition, new data-driven tools are also transforming our ability to facilitate talent management and development. These innovations are leading to higher levels of productivity and skill enhancement, as well as more collaborative and creative work environments.
Here is a quick overview of a few key employee productivity innovations that are driving transformation within the HR function:
1) Enhancing Productivity Through Incentives
A range of traditional business functions can benefit from an integrated employee rewards and recognition strategy. These creative incentive models help companies increase sales, improve the quality of customer service, and improve employee engagement.
One example of a company that is making significant headway in this space is Achievers (formerly I Love Rewards). This company utilizes a points-based system that rewards employees for positive behaviors, efforts, and outcomes. These points can be collected and then redeemed for a wide range of products and services aligned to the employees’ liking.
2) Offering Timely and Relevant Learning Opportunities
Integrated learning platforms that harness big data allow companies to make more targeted decisions when it comes to an employee’s learning and development needs. For example, employees can take online courses related to upcoming projects through course recommendation engines that are built into their work management systems. Since the learning is put into practice immediately, these timely opportunities enable companies to reduce their annual learning and development expenditures whilst reaping higher ROIs.
3) Increasing Workplace Efficiency
As a result of businesses using technology more efficiently, organizations will gain better use of existing assets, as well as more targeted investments in talent management and development. The challenge, as always, will be to ensure that these efficiency gains do not compromise the organization’s culture or overlook the importance of the human element.
Have you or your company begun to utilize some of the talent management technologies outlined above? If so, how do you think they have fared compared to traditional talent management programs or practices?
Read Part 3 in the series: How Technology is Transforming HR: Cultivating Collaborative Work Environments