For those managers who are eager to highlight the achievements of their questionable management, it is a commonplace to affirm that people are the main asset of an organization whose crisis is enhanced by the continuous and prolonged deterioration of the motivation and commitment of its people. Allen Woo, a specialist in creating ideal work environments, discusses how business dynamics and talent management can have an important link.
All of the above are symptoms that feed the gradual emotional disengagement of talented individuals, who one day decided to offer their professional services to a company whose value proposition they believed in. Then, they had vain hopes of turning dreams into realities and illusory intentions of crowning precious life projects.
Unfortunately, many of them will resign themselves to believe that it will no longer be possible to access a meaningful and rewarding future, when they are no more than cold and gray accounting assets, at the service of a pragmatic and results-oriented company. Insensitive, by corporate tradition, to the emotions of people and heartless to recognize that the blood and oxygen of business success are the employees motivated to achieve and committed to their organization.
“For the successful management of the company, Human Resources is a key function,” assures Woo. “It assumes among others, the responsibility to train and develop the talent of people, to improve their skills and competencies; and to facilitate their productive incorporation in a dynamic work environment, conditioned by a volatile, uncertain and complex business environment.”
In its most conventional expression, the science and art of managing people focuses the bulk of its ambitions on the development of processes for attracting, connecting and retaining talents. These are specific to what the company needs to achieve operational goals and business objectives that add value and generate well-being in its target market.
Relevant to this function is the design and implementation of optimized processes, consistent policies and best practices. These will ensure that people management effectively supports the operation of the company and leverages the execution of the business strategy.
“It is often stated, without disguising a certain pejorative tone, that Human Resources is a support function for other functional areas of the company. Although this is true in the strict sense of the term, this consideration denotes the possible subordination of this function to the area of Administration and Finance. It is not surprising, then, that Human Resources deploys its scarce strategic and business vision, when from a purely transactional and administrative perspective, it supports, supports and serves other functional areas of the company,” explains Woo.
If, in the Knowledge Economy, sustainable and profitable innovation is the main vector of competitive differentiation and business success, it is obvious to infer that a new HR function is required. The idea is that it transcends the transactional and administrative processes inherent to an HR department, and contributes to the effective addition of market value by deploying its competencies as a strategic business partner and key agent of business transformation.
Companies with the best people management practices invest, on average, 15% more, and dedicate a greater number of specialists to apply talent management approaches to the processes of attracting, connecting, developing and retaining people. These practices emphasize strategic talent planning and leadership development.