Unlike other resources, people appreciate in value the longer they work for you. They get more skills and experience, and create essential networks for your business. And when you combine this with hiring the right people in the first place, you optimize your talent for business performance. This explains why a focus on hiring and retaining key talent in the form of talent management has become a critical part of most organisations’ HR strategies. The demands placed on the talent management function today are greater than ever before: 93% of CEOs say “they recognize the need to make a change, or are already changing, their strategy for attracting and retaining talent,” according to PwC’s 17th Annual Global CEO Survey.
Risk is an inevitable factor for every business. Risk comes in many shapes and sizes, and can come from many directions, both internally and externally. All organisations operate in an environment of economic uncertainty. Subjected to a wide range of internal and external influences, they are exposed to varying degrees of uncertainty and risk and this can directly affect their ability to achieve objectives. Hence it is important that all entities come into understanding that there is a critical need for organisations to identify, understand, prioritise and manage key risks with a pragmatic, integrated and coordinated approach.
What most organisations usually focus on is mainly the external risk uncertainties that arise due to unstable economic conditions. This is because there is a high tendency that such risks can tremendously affect the profit and growth of the company. Even though this point is extremely valid at any scenario, it is crucial that managers and decision makers understand the human impact towards risk.
With technology taking over most aspects of work and life in general, we often tend to value the technological benefits over that of human. Impressed with what technology can do to make life better or easier, we follow the constant waves of technological changes that happen almost every day. Within those waves we sometimes overlook the human and tech balance that is vital for an organisation’s functioning. One aspect of either human or technology lagging will make changes to the infrastructure, causing irreversible long term damage. Much like most companies procedures, this too is process that requires attention from time to time. Here are a few tips to get you started.