Emerging markets have become
increasingly prominent and at times controversial within the developed and
developing world based on current political, economic, social, technological
and legal forces within this market. This poses a serious challenge for Human
Capital Management for large multinational companies in terms of managing staff
expectations, improving efficiency and productivity to drive profitability for
organisations.
The
world has embraced the concept of HR business partnering and traditional
functions like recruitment, payroll administration and personnel management
have been simplified due to a growing application of
technology. Payroll now runs at the push of a button and
recruitment processes can operate like clockwork. There is however a lot more
that needs to be done because the global business landscape is ever so
dynamic. The war for talent continues globally, especially in fast
growing business areas spurred by digitization. The paradox for Africa is
that there is high unemployment rate while companies complain about
difficulties in finding skills. This emphasizes the fact that skills and
talents, are what employers are interested in, not just headcount and
collectively, the continent has a dearth of marketable human capital. Given
this paradox, skills development and talent building remain major challenges
HCM should address. Leadership development and engagement are also areas that
require attention.
world has embraced the concept of HR business partnering and traditional
functions like recruitment, payroll administration and personnel management
have been simplified due to a growing application of
technology. Payroll now runs at the push of a button and
recruitment processes can operate like clockwork. There is however a lot more
that needs to be done because the global business landscape is ever so
dynamic. The war for talent continues globally, especially in fast
growing business areas spurred by digitization. The paradox for Africa is
that there is high unemployment rate while companies complain about
difficulties in finding skills. This emphasizes the fact that skills and
talents, are what employers are interested in, not just headcount and
collectively, the continent has a dearth of marketable human capital. Given
this paradox, skills development and talent building remain major challenges
HCM should address. Leadership development and engagement are also areas that
require attention.
In
addition, it is paramount to note that companies, governments and institutions
operate within an ecosystem. As such, whatever affects that ecosystem will
ultimately affect human capital development. The flow of foreign
investments, level of technological adoption, innovation, competition, economic
policies, market forces, labour and immigration laws are factors that will
continue to impact human capital development within the continent. The
more capital we have within the system, the greater the possibilities. In
a capital, starved environment, human development initiatives are typically the
first to be cut down. Training budget is one of the usual suspect in this
category.
addition, it is paramount to note that companies, governments and institutions
operate within an ecosystem. As such, whatever affects that ecosystem will
ultimately affect human capital development. The flow of foreign
investments, level of technological adoption, innovation, competition, economic
policies, market forces, labour and immigration laws are factors that will
continue to impact human capital development within the continent. The
more capital we have within the system, the greater the possibilities. In
a capital, starved environment, human development initiatives are typically the
first to be cut down. Training budget is one of the usual suspect in this
category.
Furthermore, culture also affects HCM. Culture is an aggregation
of the behavior of people, the environment they operate in and
communications within. It directly affects HCM because if any of these
three elements are in any way negative, performance, productivity and brand of
the organization begin to suffer. Culture is like the cocoon that
surrounds a larva. If the balance of elements therein is not right or
jeopardized in any way, a beautiful butterfly will not be birthed. However, a
major role of HCM is to act as custodians of culture by ensuring that desired
attributes are promoted and rewarded while the negatives are addressed. There
is some element of mutual causality between corporate culture and HCM.
of the behavior of people, the environment they operate in and
communications within. It directly affects HCM because if any of these
three elements are in any way negative, performance, productivity and brand of
the organization begin to suffer. Culture is like the cocoon that
surrounds a larva. If the balance of elements therein is not right or
jeopardized in any way, a beautiful butterfly will not be birthed. However, a
major role of HCM is to act as custodians of culture by ensuring that desired
attributes are promoted and rewarded while the negatives are addressed. There
is some element of mutual causality between corporate culture and HCM.
How then can we address HCM
issues? The way we attract, hire and retain employees need to change significantly.
A healthy pipeline may have to be dependent on how HR practitioners build
and collaborate with their own network of colleagues, market orientation or
even social media savviness. HR needs to get rid of the proverbial ‘box’
and not just think outside it. Innovative collaboration will be key.
issues? The way we attract, hire and retain employees need to change significantly.
A healthy pipeline may have to be dependent on how HR practitioners build
and collaborate with their own network of colleagues, market orientation or
even social media savviness. HR needs to get rid of the proverbial ‘box’
and not just think outside it. Innovative collaboration will be key.
Regional
integration in terms of capacity development, e-learning, talent sharing are
also areas that can be explored especially by multinational companies, to
benefit from economies of scale and support weak or slow markets. There is also a need a for much closer
collaboration between the employers and the skills building infrastructure to
ensure output of educational systems are a better fit for the market.
integration in terms of capacity development, e-learning, talent sharing are
also areas that can be explored especially by multinational companies, to
benefit from economies of scale and support weak or slow markets. There is also a need a for much closer
collaboration between the employers and the skills building infrastructure to
ensure output of educational systems are a better fit for the market.
Furthermore,
organizations should look towards the future. Institutions that thrive and
deliver high performance are those that plan their tomorrow today. We
should start to build leaders today by developing leadership skills across all
cadres of the organisation. Organisations
need to continually improve their capability to profile and match skills and
talents with their aspirations and culture. High performance is not possible
without the right number and quality of talents working in environments
conducive to high productivity. The whole process must be subject to connected
thinking-through.
organizations should look towards the future. Institutions that thrive and
deliver high performance are those that plan their tomorrow today. We
should start to build leaders today by developing leadership skills across all
cadres of the organisation. Organisations
need to continually improve their capability to profile and match skills and
talents with their aspirations and culture. High performance is not possible
without the right number and quality of talents working in environments
conducive to high productivity. The whole process must be subject to connected
thinking-through.
The
future of talent management is about new knowledge, new horizons. It is
about being innovative and leveraging technology to do more. HR teams must
proactively lead their organizations forward. HR is about the person; focusing
on the people, one person at a time. Africa
needs an HR practice that will rise to the huge challenge of meeting Africa’s
need for talent in a brave new world.
future of talent management is about new knowledge, new horizons. It is
about being innovative and leveraging technology to do more. HR teams must
proactively lead their organizations forward. HR is about the person; focusing
on the people, one person at a time. Africa
needs an HR practice that will rise to the huge challenge of meeting Africa’s
need for talent in a brave new world.
Written by: Partricia Aderibigbe,
Director, Group Human resources at United Bank for Africa
Director, Group Human resources at United Bank for Africa
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Nigerian's should learn how to invest in profitable buisness,curb the act of miscellaneous expenses and learn how to save there money in the bank. That is the first step to mannage your capital and be successful in what you do.
I needed to thank you for this extraordinary read. I certainly appreciating each and every piece of it I have you bookmarked to look at new stuff you post. DigiMarkCentral
Great piece. HCM to has to be dynamic to keep pace with our evolving world. Cheers
What a very educating piece…..many take home points.
Good work.
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PLEASE READ!!Hello Guys!!! I am Caro I live in Ohio USA I’m 32 Years old, am so happy I got my blank ATM card from Adriano. My blank ATM card can withdraw $4,000 daily. I got it from Him last week and now I have withdrawn about $10,000 for free. The blank ATM withdraws money from any ATM machines and there is no name on it because it is blank just your PIN will be on it, it is not traceable and now I have money for business, shopping and enough money for me and my family to live on.I am really glad and happy i met Adriano because I met Five persons before him and they could not help me. But am happy now Adriano sent the card through DHL and I got it in two days. Get your own card from him right now, he is giving it out for small fee to help people even if it is illegal but it helps a lot and no one ever gets caught or traced. I’m happy and grateful to Adriano because he changed my story all of a sudden. The card works in all countries that is the good news Adriano's email address is adrianohackers01@gmail.com
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PLEASE READ!!Hello Guys!!! I am Ruth I live in Ohio USA I’m 32 Years old, am so happy I got my blank ATM card from Adriano. My blank ATM card can withdraw $4,000 daily. I got it from Him last week and now I have withdrawn about $10,000 for free. The blank ATM withdraws money from any ATM machines and there is no name on it because it is blank just your PIN will be on it, it is not traceable and now I have money for business, shopping and enough money for me and my family to live on.I am really glad and happy i met Adriano because I met Five persons before him and they could not help me. But am happy now Adriano sent the card through DHL and I got it in two days. Get your own card from him right now, he is giving it out for small fee to help people even if it is illegal but it helps a lot and no one ever gets caught or traced. I’m happy and grateful to Adriano because he changed my story all of a sudden. The card works in all countries that is the good news Adriano's email address is adrianohackers01@gmail.com
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