Eight Ways to Improve People Processes in Your Organization People are a critical part of every organization’s balance sheet. Investments related to acquiring, retaining, developing, and inspiring employees are critical to your organization’s success, requiring a thoughtful strategy to build and maintain a productive workforce. CHCI’s talent life cycle, called PRIDALRM, refers to the interrelated strategies that support the most important assets of an organization – the people. Most of the activities that occur within an organization’s human resources, human capital, and talent management divisions can be distilled to one of the eight components highlighted in the PRIDALRM image. CHCI uses PRIDALRM to diagnose problem areas and develop targeted remediation efforts. This systematic approach to organizational performance encourages the interconnection among elements and alignment to outcomes. Let’s review the eight components. Starting with the “north star” of the talent life cycle, the workforce PLAN sets up a framework that allows organizations to address current needs and identify future opportunities and threats. It helps answer the following questions:
Does the organization’s workforce have the right capabilities today? What resources will the organization need to be successful in five years? How can our human capital approach give us a competitive advantage in our industry?
The next component, RECRUIT, is about talent acquisition. Talent acquisition is the organizational process which fills current and future positions and manages the transition of new employees to becoming fully productive. According to research commissioned by Glassdoor, 95% of companies admit to hiring the wrong people every year. In fact, Society for Human Resources Management (SHRM) identified that the cost of a bad hire could be up to five times the amount of a bad hire’s annual salary; so hiring the wrong person is a costly mistake. Here