HIDDEN MONEY |
“Hidden money is about to free up cash in your organization, by understanding and inspiring employees during each phase of the Talent Life Cycle”
In my last article I wrote about ‘free’ cash for sustainability. Of course, there is no such thing as ‘free’ cash, but there is a lot you can do to free up cash in your organization.
Many organizations struggle to align their Talent to their Business Strategy or find it difficult to inspire their workforce effectively. This results in low morale and productivity, disengagement, absence and turnover.
The disconnect is often resulting from the absence of or how we practice Human Resources Management. Traditionally, HR strategies are centered around 4 HR areas Recruitment & Succession, Learning & Development, Talent Management and Rewards & Benefits for which areas different programmes are developed by HR. Even though at the highest level these programmes contribute somehow to the business Strategy, they fail to address the needs of talent or we fail to present it to our talent in a cohesive and recognizable way.
Basically, there is a gap between the execution of the HR Cycle and the perception and needs of employees throughout the Talent Life Cycle.
Understanding the needs of employees during each phase of the Talent Life Cycle and explicitly linking these to Mission & Vision, Business Strategy, Culture & Values and Leadership via the HR strategy and HR programmes closes this gap.
With effective HR tools and programmes which truly help managers to inspire their people whilst addressing their needs at every stage in their career, organizations are able to show their talent that they fit in nicely with your Vision & Mission and Culture & Values, how they perform and what their contribution is to delivering the Business Strategy. This in turn leads to higher engagement, productivity and retention, and creation of shareholder value. So, where do you find your money?
Gerco Coumou is Associate at RIVIONT. With a vast background in building high performing organizations and HR departments for industry leaders like Unilever, JohnsonDiversey, PaperlinX, British American Tobacco, CEVA Logistics and Scholle IPN. He currently works with Leadership Teams on Leadership Development, Organizational Development, People Strategy and HR Strategies. He holds a Master of Science Degree in Human Resources from Tilburg University.