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Human talent or labor productivity: What is the secret?

Talento humano o productividad laboral

Human talent management is not a theory unrelated to labor productivity, both terms and business resources seek to manage the commercial success of the brand. However, as a differential value of companies, it is necessary to know the reasons why one could complement the other and together improve labor productivity.

What does human talent management mean?

In a nutshell, human talent management means investing in an organization’s most important resource: its people. To this end, employers can recruit candidates with highly desirable skill sets, provide opportunities for continuous learning and development. At the same time rewarding valuable team members and encouraging them to advance within the organization. By attracting the right human talent for the business, labor productivity could be increased as a result.

An example of effective human talent management…

Real-life examples of talent management happen every day. Consider, for example, a clothing retailer that wants to transition its business model. It wants to move from supplying apparel to offering customers a true service-based experience. To achieve this goal, the organization’s leaders know they will need a new generation of associates and managers. So they implement applicant assessment and tracking tools to help them hire the right people and use real-time performance data to give supervisors the insights they need to make smarter decisions. Labor productivity could be boosted by hiring people with the human talent needed to perform certain activities.

Importance of human talent management

Talent management is not just a simple key human resources term that one will come across. It is also committed to hiring, managing, developing and retaining the most talented and excellent employees in the industry. In fact, human talent management plays an important role in business strategy. It manages people as business assets. In addition, by recruiting the best talent, it seeks and expects to be in the disposition and capacity to improve labor productivity.

That is why, companies must make the effort to effectively manage employees to help them develop their skills and subsequently have the ability to retain them. For this purpose, there are currently different tools, both human and technological, that allow companies to achieve this goal. ChVmpion Mind is the best example of this. A platform that integrates science, technology and coaching, all in one place. Do you want to know more? Here are some of the reasons why companies should invest in ChVmpion Mind. Pay close attention!

Helps retain top talent:

Having strategic talent management provides organizations with the opportunity to retain the most talented and qualified employees. This, with the purpose of improving labor productivity.

It is a way to motivate employees:

A strategic business coaching management helps organizations keep their employees motivated and active in their roles, improving labor productivity.

Continuous coverage of critical roles:

With tailored business coaching, companies are equipped to accomplish tasks that require critical skills to plan and address important roles without neglecting work wellness. Thus improving overall productivity and performance.

Increases employee performance:

The use of a platform such as ChVmpion Mind greatly facilitates the human talent management work that companies must perform. Identifying which employees will be the most suitable for a specific activity.

Increased number of engaged employees:

ChVmpion Mind ensures employee competencies and development and in itself, labor productivity.How does it do that?…..

  1. Helps retain top talent.
  2. It improves business performance and labor productivity.
  3. Promotes personal and, therefore, corporate well-being.

 

So… Let’s talk about labor productivity

Labor productivity is a basic notion used to measure the efficiency of labor forces in production. It compares the output produced with the amount of labor used to get there. It is therefore one of the elements that provide insight into economic performance. Labor productivity can be justified within the framework of the economic system of a state, but also at the enterprise level.

As the name suggests, labor productivity refers to being productive, to creating wealth. It measures the efficiency with which a company uses the resources at its disposal to manufacture goods or provide services. It is believed that the higher the productivity, the greater the beneficial effects on the standard of living of individuals; because it contributes to increased growth.

Remember…

When labor productivity increases, it means that a company can produce more goods or services without having to increase the number of its employees. The gains achieved by increasing the labor productivity of employees, allow a company to obtain higher profits. This, in turn, translates into more capital for investment, lower prices for products or services, and higher employee compensation.

It is about… Human talent or labor productivity?

Having studied the main aspects of human talent management in relation to labor productivity, we come to the most obvious conclusion of all: Both aspects are key in the development of a company, and seek to improve the current state of the company in question. Therefore, these two trends must be marked by a similar strategic line that allows them to unite and collaborate with each other for the exclusive purpose of defining the most eloquent guidelines to achieve business success.

Statistically speaking, 77% of employees state that they would be more involved in their work if their achievements and efforts were recognized. In this way, it is important to accept that human talent contributes to the best execution of tasks, but labor productivity will be the result of a well-developed work and in accordance with the motivation, satisfaction and commitment of employees towards the organization they work for. We close this installment with a very accurate phrase from José L. Meléndez CEO and Co – Founder of ChVmpion Mind:

“What distinguishes very good people from exceptional people is not in their skills, talents or strengths, it lies in what and who supports them to develop them in an exceptional way and for long enough to make a difference.”

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