Revolutionizing HR Systems: Essential Tools to Drive Business Growth
Tags: HR, Hrtech, AI, Strategy

The human resource landscape in an increasingly corporate world is ever-evolving. The tools that worked a decade are becoming useless; they are no longer functional in boosting efficiency and streamlining HR work processes.

Why? It is because HR today is utterly different from what it has been traditionally. In the latest decade of the 21st century, HR is a strategic function that acts as a growth engine for both individuals and companies.

The problem, however, comes in the form of redundancy. HR systems in place today are in place to support the same old, decades’ old functions, and roles of the field. They are incapable of fostering growth in a changing HR world.

This article will dive deep into the ideas outlined above by first discussing the existing problems in HR systems and then taking a comprehensive look at the possible solution: An Internal Talent Marketplace.

Existing Problems in HR Systems

The problems in existing HR systems are, unfortunately, vast and far-fetched. In the following paragraphs, we will look at them in relation to each different tool.

Learning Platforms

The learning platforms in place for employees are built in a way that follows pre-set KPIs. These KPI’s include the following:

● Number of learning sessions completed

● Content consumption times

● Employee participation

Anyone with sound knowledge of the corporate industry would understand that this is not enough. Compliance with these KPIs, without a focus on other essential aspects, hinders growth. This model opts for an executive-centric approach, which essentially means that employees are neglected. The top to the bottom proposition renders methods within the system ineffective.

These systems are dictated from the outside and reflect age-old industry trends and the findings of-nothing of value. That’s the problem. These systems work does not focus on the skill gaps and vacancies the organization could be experiencing. So, the systems miss out on the most integral element: increasing organizational agility.

Talent Acquisition Platforms

The current talent acquisition platforms use for HR development are external. By design, these tools ignore internal candidates. This is a problematic practice that slows organizations down significantly in the competitive landscape that HR has now become.

Especially amidst the pandemic, HR is now characterized by a hiring freeze, sudden shifts in professional priorities, and a growing demand to utilize the present workforce to use the present workforce fully. However, current systems do not correspond to these needs; the focus on external talent acquisition while willfully neglecting internal mobility.

Job openings are externally dictated-meaning that they originate from a predefined recruiter’s list or an organizational diagram. This leaves a grey area that overlooks spontaneous openings and business reality within the company are overlooked, and the growth of the company hindered.

HR Management Systems

Sadly, HR platforms are not systems that are convenient for executives and employees to navigate on a daily basis. They are used very sparsely, which creates a disparity between the information available and the information used.

This is a disadvantage because when an HR-centric system (which is usually solely data-driven) is not in regular, routine use, the information they process and present is inaccurate and ineffective.

The role of HR today is not only limited to track attendance, vacation days, salaries, and personal data-it is more centered on ensuring that the employee lifecycle is as meaningful as possible to employees and companies alike. The overall potential of every individual actor in the work process needs power, but how can that be done if there is a lack between individuals and the core systems?

Career Pathing Tools

Career pathing tools are essentially meant to assist individuals in making their way through an organization. These tools chart potential paths employees can take within the organization to upskill and grow career-wise. However, the tools that are used currently have a short shelf-life of the paths they present! These paths stop being relevant as soon as they are generated.

Here’s the thing: there’s no concrete guarantee that a role that exists in a company right now will continue to exist tomorrow in the same nature. We cannot even correctly claim that the parts and experiences needed to reach a specific designation will stay static. As of now, HR is anything but static!

HR professionals may be spending a lot of time to provide employees with meaningful career paths, but that effort is meaningless. As long as the course is not static, it won’t have a real value in career development. Additionally, most of these tools also fail to capture employees’ changing ambitions in real-time.

Internal Job Boards

Internal job boards are also problematic. These tools’ orientation is apparently “employee-first,” but they are rarely the first or most comfortable place for employees looking for a feasible opportunity.

Regardless of how potent they are, internal job boards are not efficient enough to compete with job-seeking platforms like LinkedIn or internal AI-powered mobility platforms. These places offer a consumer-grade experience-an aspect that internal job boards lack. Impersonalized suggestions, poor customer experience, and the fear of being judged that is associated with these platforms leave a lot of space for improvement.

Solution — Internal Talent Marketplace

So, what’s the solution to all the issues laid out above? To positively enhance employees’ development, HR architects must incorporate learning, interactive HR, and talent acquisition in one combination, and that too in a live, perpetually-synced fashion. In short, what the HR landscape needs, for now, is an Internal Talent Marketplace.

What is the internal talent marketplace?

The talent marketplace is a two-sided platform where internal career opportunities are posted and discovered. The possibilities are published by the company’s workforce regularly, presenting the most crucial areas of professional demand within the organization. Logging into the talent marketplace looking for career advancement opportunities would mean gaining a comprehensive outlook of an individual’s ambitions, skill sets, and experiences!

This would allow for the immediate matching done in consideration of the particular opportunities available. When an employee is missing essential skills required to take on an internal project or a future career move in an internal talent marketplace, they are pointed in the right direction.

Particularly concerning the problems we discussed earlier, an internal talent marketplace would help in the following ways:

Contextualized Learning

The learning platform’s content becomes contextualized and meaningful, and its consumption results in actual business achievements. In turn, the employees are spared the trouble of blindly choosing what content to consume. As a whole, the learning experience is made a lot more engaging and productive than it would be otherwise.

Augmented Internal Talent Acquisition

The talent marketplace is ultimately an effort to prioritize the creation of internal connections! The talent marketplace’s end-user is the employee, which means the experience is fit to engage the employee with meaningful and lucrative internal opportunities.

Additionally, the opportunities talent marketplace can offer a diversified selection of prospects: from a full-time position to a gig or coaching; the talent marketplace would provide the best data source for talent acquisition.

Interactive HR Management

The talent marketplace is geared towards boosting interaction: employees are engaged with opportunities to enhance their career growth regularly, perhaps on a day-to-day basis. Essentially, it relies on heavy usage by design, from both employee and manager sides.

So, for the platform to be fully functional, all organization members, managers, and employees alike must interact with it frequently enough. Whether this comprises posting opportunities or browsing through them — the outcome is a positive one. This interactive nature of the marketplace leads to an abundance of data in real-time.

Altogether, the internal talent marketplace empowers business leaders to make better decisions and gain a deeper understanding and insight into their workforce.

Meaningful Career Paths

The talent marketplace has the required potency to generate career paths into more than recommendations! By design, it points employees to genuine opportunities in the organization — options that complement their career aspirations and swiftly move towards their objectives.

The AI-powered talent marketplace provides essential career path modules that can conveniently deliver immediate business value. With the internal talent marketplace, you are enhancing your HR functions and driving profits for your business.

Upholding Consumer-Grade Experience

The internal talent marketplace provides employees with an enriching user-experience. It drives adoption by delivering immediate value to employees in actual professional expertise.

Employees must be guided through the plethora of opportunities the platform offers. The marketplace tools will allow a convenient factoring in their unique preferences, skillset, experiences, and activity within the forum itself.

Moreover, an employees’ choices on platforms like the internal marketplace can enhance HR professionals’ knowledge about their workforce, possibly more than any external source of data.