Standards in Talent Management Integration- Professional standards are followed by Accounting, Risk management and IT functions. While HR was not following earlier, a global movement to form professional standards in HR is happening. One of the biggest challenges facing companies all over the world is building and sustaining a strong talent pipeline. Not only do businesses need to adjust to shifting demographics and workforce preferences, but they must also build new capabilities and revitalize their organizations — all while investing in new technologies, globalizing their operations, and contending with new competitors.
Society of Human Resource Management (SHRM) has been developing standards for Human Resources. ANSI designated SHRM in 2009 for HR Standards and in 2011, the ISO (International organization for standardization) also proposed SHRM as a leader of the group developing HR standards globally.
Since then, SHRM has published three HR standards: cost-per-hire, workplace violence prevention and intervention, and performance management.
While SHRM has developed standards, it is also finding resistance. A powerful group consisting of HR directors – the US’s HR Policy Association is publicly opposing SHRM and asking it to withdraw proposals regarding investor metrics where companies will disclose their investment in people. The HR Policy association of the US says that this would bring an administrative burden on companies and lead to process delays and inefficiencies in the HR function. Talent Management Systems are being developed for Talent Management Integration
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