Why and How Does Recruitment Matter? The Resource-Based View of the Firm
In the 1990s, RBV, as a mathematically less complex framework, has supplanted utility analysis in the evaluation of possible organization-level benefits of recruitment. Taylor and Collins (2000: 317-321) argue how recruitment satisfies Barney & Wright’s (1998) five RBV criteria, which might offer a competitive advantage. First, recruitment might add value by enhancing labor cost efficiencies and/or spilling over to customer perceptions of the firm’s products or services. Second, recruitment strategy might identify and tap talent that is rare in the labor market. Third, an organization’s set of recruitment practices might be such a complex bundle of tactics that it is virtually inimitable. Fourth, recruitment may be a non sub-stitutable organizational practice to the extent that the recruitment strategy is innovative and idiosyncratic to one organization. Fifth, for maximum leverage, recruitment must be aligned with other HR practices, so that recruitment can support and enhance the benefits of the other HR functions, such as compensation, selection, or performance appraisal. When these five conditions are met, recruitment would be expected to make a contribution to a firm’s financial performance.
Building Leadership by Leveraging Employee Feedback
In the dynamic landscape of modern workplaces, effective communication between managers and their employees is crucial. One key aspect of communication is feedback—both giving and receiving it. While providing feedback to employees is often emphasized, it is equally important for managers to gather and receive feedback from their people.
How Much Should Companies Spend on Talent Development?
The amount that companies spend on talent development varies, but as a general rule of thumb, businesses should aim to spend at least 1% of their revenue on talent development, according to Inc Magazine
What’s new in HR
Human Resources (HR) is constantly evolving, with new trends and innovations emerging regularly. Here are some of the latest developments in HR.
AI and Automation:
AI -Chat-bots for HR: Chat-bots are increasingly used to handle employee queries, assist with onboarding, and provide real-time support, enhancing the employee experience.
Employee Experience (EX):
Personalized Employee Journeys: Companies are focusing on creating tailored experiences for employees throughout their career lifecycle, from onboarding to development and retention.
Wellbeing and Mental Health:
Comprehensive Wellbeing Programs: Organizations are expanding their health and wellness programs to include mental health support, stress management, and work-life balance initiatives
Burnout Prevention: With the increasing recognition of burnout, companies are implementing proactive strategies, such as flexible working hours and mandatory time off, to maintain employee wellbeing.
DEI (Diversity, Equity, and Inclusion)
Data-Driven DEI: HR is leveraging data analytics to track diversity metrics, identify gaps, and implement strategies that promote a more inclusive workplace.
Inclusive Leadership Training: There’s a growing emphasis on training leaders to foster inclusivity and ensure that diverse voices are heard and valued. These trends highlight how HR is adapting to technological advancements, changes in work environments, and the evolving needs of employees. As these trends continue to develop, HR will play an increasingly critical role in shaping the future of work.