Developing more formal talent planning and management processes may feel beyond many midsize companies reach. Many work with several obsolete applications across HR, talent, benefits, payroll, and recruiting, which takes considerable time and resources to manage and doesn’t provide the foundation and capabilities needed to support more effective talent management practices.
However, advances in technology are now making it easier for midsize organizations to build out more sophisticated talent capabilities. Cloud-based systems that bring together human capital management, talent, recruiting, and learning in a single system enables companies to streamline these processes, reducing the amount of time spent working manually between systems.
Having a single source of truth across these functions also provides greater visibility into overall costs and performance of people. As midsize organizations grow and expand, they can answer questions such as: are my best people working on my most critical initiatives; where do I find the best talent; who are my retention risks; where are the gaps in the leadership pipeline; and what talent is contributing most to revenue?
Unibail-Rodamco, Europe’s leading listed commercial property company, chose to transition its HR operations to the cloud to support its presence in 12 countries and drive future growth. “As we prepare for the future, it is important that we adopt an HR system that can support fast growth and change while also giving us deeper visibility into our workforce globally,” says Sylvain Montcouquiol, chief human resources officer at Unibail-Rodamco.
The mid-market serves a great need in the world economy, fueling jobs, innovation, and growth. While this group faces unique challenges, advances in technology and evolving approaches to operational efficiency, planning, and talent will help your organization address them in new and better ways. The future is bright with greater support and tools to help you grow and build on your success.
(This blog concludes the three-part series. To start from the beginning, go to “Three Strategies to Help Your Midsize Company Grow, Part One” and “Three Strategies to Help Your Midsize Company Grow, Part Two.”)