Future developments of resourcing and talent management
The world of work is quickly changing as we dawn into a new error with new development (Pettinger, 2023). Many companies are adopting agile work practises in response to employees’ requests for more flexibility and as a means of encouraging a healthier work-life balance (Collings et al., 2021). If a company uses agile methods, it may be able to offer remote work opportunities to its entire staff, or at least some of its employees.
Resourcing and career planning are evolving to keep up with the quick-changing business environment of today. The global market for HR technology is forecast to grow from $24.04 billion in 2021 to $35.68 billion in 2028 as businesses increasingly prioritise investing in AI to improve business operations and cut expenses (Vrontis et al., 2022). Technology is fast taking over the field of HR management as numerous software are being developed and applied in different roles of HRM (Berlin. 2021).. For instance during talent acquisition, to seek job prospects, evaluate candidates prior to interviews, and track candidates throughout the hiring cycle, HR technology companies are continuing to develop a variety of applications and SaaS platforms (Kim-Schmid, and Raveendhran, 2022). Talent management software suites shall include interoperable modules for things like onboarding and training, performance evaluation, salary and bonus planning, and even retirement and exit interviews.
With its ability to power insight-driven predictions, AI is about to bring a new twist to HRM. HR teams can use AI to efficiently collect and analyse data about job openings and new team requirements from across departments, which greatly aids in prioritising hiring needs (Harmon, 2023). In addition, it can facilitate the sourcing of potential applicants by generating personalised adverts that assist target the proper candidate pools on social media platforms. Its ability for process large amount of data will see AI help support Evidence-based HR practices that will see the upsurge of organizational performance and employee satisfaction (Harmon, 2023).
Conclusion
Providing compelling employee value propositions is critical for organizations to recruit and retain talent in today’s tight labor markets. According to the Higgs model (Barsoum & Abdalla, 2022), a company can become a “employer of choice” by providing its workers with higher wages and more favorable working conditions. Organizations can improve their chances of success by paying attention to three interrelated factors: Organisational values, internal procedures, and external perceptions. As Ronda et al (2018) notes, BAHL may be able to achieve these goals if it works to strengthen its brand and reputation as an employer of choice. For instance, through strategies like sustainable Banking by introducing innovative technology aimed at lowering expenses and carbon footprint, BAHL may attract new staff with the capacity and competencies to lead it toward greater sustainability. Retention of current employees may also be possible through the provision of financial and non-financial rewards. The improved employer brand and public perception will help the company keep its current staff and recruit new members with the skills necessary to implement the envisioned transition.
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