Talent acquisition is considered to be a significant problem, and hiring costs are soaring higher than ever before. The cost of HR turnover is also a matter of concern for employers. Thus, talent retention and nurturing is the key to address the contemporary situation. When a business implements employee nurturing programs, the closed-loop feedback is essential to check the effectiveness of training imparted by the concerned employee. On-the-job training has emerged as one of the best alternatives for professional development and is being implemented in a manner resembling vocational training. We will have a look at utilizing a Performance Management System for directing, monitoring, and managing the employee training while aligning their working methods with the company’s vision. Also, the benefits of using PMS solutions for greater efficiency and continuous process evaluation is explained. If your company is using a PMS software or eyeing to purchase one, dive in deeper to learn more about the subject.

Cross-disciplinary Training And Budding Projects:

The staff can be trained in profile areas other than the existing ones by providing them cross-disciplinary sessions with other departments. This is to be done to serve organizational interests such as training the sales employees in finance. This will help in faster quotation generation. On the other hand, liasoning is equally crucial for the HR staff. The multi-disciplinary talent nurturing will help the businesses in establishing harmony within the organization. The specialist culture isn’t sustainable in the long run, and thus, having generalist staff with specialization in particular aspects of work will become tremendously. For this purpose, running a buddying project and including the training as a part of the KRA of the concerned employee. When the daily progress is recorded by the PMS, the practice can be appropriately analyzed. When the reporting authorities have access to the budding project information, they can make judgments in better opportunity allocation within the organization before making a new hire.

Senior Profile Exposure With Hands-on Experience:

When the staff is to be trained to handle complex problems arising in the company simultaneously, it has to be exposed to senior decision-makers. This will help them in understanding the managerial aspects of their work and how a particular decision affects the organization in totality. With the use of PMS, one can interweave individual management decisions with the work profile of employees which serve as a basis for senior authorities’ work. They can also be provided with an opportunity to assist the higher officials on a rotational basis personally. On the other hand, this helps the management in having a personal touch with the entire staff cadre. When the service reports are analyzed, one can see if there are dis-functional policies hampering the operations and bypass the systematic risks associated with the work profile and sector. With the help of PMS reports, the strategic outlook becomes more apparent as both top and bottom level staff members work in close coordination with minimum loss to their individual profiles. 

Subject Matter Expert Training And Procedure Change Implementation:

The use of the external training agencies for the up-gradation of the entire workforce cannot be done merely as an HR activity. The cost of the Subject Matter Expert (SME) training should deeply resonate with the company’s expected output from the staff. Allocating a customized training session becomes possible by using the PMS data. The portions of the profile which challenge the employees or soak in the productivity of the staff are identified, and the relevant pieces of training are imparted department wise. When a change in infrastructure is to be made, the employee’s productivity can be measured by the company. 

Using a dedicated performance management software, you can keep an eye on the talent nurturing process in the entire company irrespective of the organization size. There is no alternative to using an automated tool when working in an interactive environment because the number of transactions is pretty high, and assessing them manually will consume more resources than the productive output it will ever deliver.  

As far as talent nurturing is concerned, one cannot oversee the PMS solutions' contribution as their strategic use will empower the businesses in churning more productivity from the existing workforce and develop a better work culture for the employees.

Source: https://factohr.com/performance-management-software/