07 July 2011

Hay Group offers better talent management solution

Looking to improve talent management practices in companies, Hay Group has introduced a human resources solution that helps in evaluation various work-related issues.

Against the backdrop of improved labour market conditions and the lure of high salaries, many companies are exploring ways to retain their talent.

Hay Group's Practice Leader for Reward Services (India and South Asia) Sridhar Ganesan said that firms should have a robust talent management framework.

"Our solution -- Hay Group Spectrum -- focuses on three key factors -- work alignment, work value and work fit," he noted.

The aim is to help companies on the best ways to reward people besides ensuring that jobs are aligned to the overall organisation structure.

According to Hay Group, the solution looks at employee engagement, motivation, job design and rewards, among others.

Attrition rates have been on the rise in recent times and are estimated to be in double digits.