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Feature

Why the Healthcare Industry Needs an Effective Strategic Talent Management Plan

Posted on: 22 May 12
Why the Healthcare Industry Needs an Effective Strategic Talent Management Plan

Summary

In a fast growing healthcare sector- healthcare HR has to answer to critical demands that other industries do not face. From complying with very tight government regulation and processes to the need to ensure staff competence, more and more healthcare organizations are implementing talent management and workforce planning solutions to answer to the ever-increasing demands of the field



In a fast growing healthcare sector- healthcare HR has to answer to critical demands that other industries do not face. From complying with very tight government regulation and processes to the need to ensure staff competence, more and more healthcare organizations are implementing talent management and workforce planning solutions to answer to the ever-increasing demands of the field.
With an effective talent strategy in place, employees and tasks can be managed much more effectively, making the organizational system significantly more productive.
Embracing technology to put forward a talent management action plan will make it easier to manage the workforce, recognize those who excel, and help identify those who may need additional training. Providers such as Halogen Software offer talent management suites that can track employee performance and efficiency. A similar program is the Lawson Talent Management software tool.

There are many reasons to include a software-based talent management strategy in your workforce planning.

Here are 5 important ones:


The management process does not end once a worker is hired. It continues throughout the duration of their employment. With talent management software, you can streamline redundant processes and focus on finding and keeping the right people. Talent management software will help isolate areas of improvement and direct training as needed. This results in improved overall employee performance.


When processes work, your staff works better. Improved performance generates a happier workforce. This in turn lessens turnover rate. Employees that perform better on the job are generally more satisfied in their work and are more likely to remain with the company. They will feel less frustration and more capable to do the tasks that are assigned to them. This generates a cycle of increased satisfaction for both you and your workers. When the worker feels more capable of handling tasks, they are able to perform better. The end result is less employees fired or quitting the job.


When HR functions are working optimally, it becomes much simpler to identify top candidates and make strategic hiring decisions. A talent management solution will indicate what talents and qualities are needed for each position and what tasks will be assigned to whom. This ensures that every staff member is assigned roles that harness their strengths and skills.


A defined management strategy allows you to place your workers where they will perform best. Sometimes this may mean promoting them to a higher position; other times, it is simply moving them to a separate department. A centralized dashboard will give you an objective view of what the strengths and weaknesses of employees are, enabling HR to make smart decisions that benefit the employees and the organization.


A high turnover rate increases costs for the company. Money is spent in finding replacements, interviewing them, and training the new employees. A talent management strategy lessens the overhead costs by lessening the turnover rate. The less time spent looking for and training new employees, the more money saved. Managing worker talent effectively increases production, which also lessens costs.

An effective talent management strategy is important for running a business efficiently and effectively. Managing workers using a defined plan enables healthcare organizations to identify strengths and weaknesses, recognize and reward exceptional performance and help align employee goals with business objectives.

Steve Williams

Last updated on: 13/08/2013 13:56:36

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