There are two contemporary topics affecting businesses today; Diversity and developing the next generation of talents. Workplace bias is a challenge in the recruitment and development of employees from underrepresented groups. Companies that have effectively created diversity have a competitive edge over those with poor implementation. When diversity climate reflects a positive view on trust in team communication (Hofhuis et al., 2016). The work environment is undergoing a notable metamorphosis forcing companies to be prudent in workforce management. According to Sharma (2016), cultural diversity has become a competitive feature for companies globally, influencing how customers view brands.
Talent management increases employees feel engaged, skilled, and motivated, helping an organization achieve its objectives. Without manpower, organizations cannot produce goods and services (Martin, 2015). It is costly to hire top talents at the given market rates compared to recruiting internally. As a result, those with a mechanism to allow internal recruitment are more likely to enjoy a sustainable workforce. Opportunities to learn and grow are among the factors millennials consider when applying for jobs today and can come from formal leadership training or coaching in specific skills. It is forcing organizations to take a more hands-on approach to talent management and future planning.
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Understanding these topics can help design a better recruitment strategy and retain employees. For instance, hiring from different cultures and backgrounds can improve employees’ satisfaction and increase their loyalty to the organization. Similarly, developing employees to prepare them for future positions can cut expenses associated with the “buying” option to fill positions. It ensures a bench strength that is ready and knowledgeable as the organization grows.
Hofhuis, J., Van der Rijt, P. G., & Vlug, M. (2016). Diversity climate enhances work outcomes through trust and openness in workgroup communication. SpringerPlus, 5(1). https://doi.org/10.1186/s40064-016-2499-4
Sharma, A. (2016). Managing diversity and equality in the workplace. Cogent Business & Management, 3(1), 1212682. https://doi.org/10.1080/23311975.2016.1212682