Johnny Ch Lok

Reward Management Benefits To Organizations Johnny Ch Lok

Firms operating in knowledge-intensive industries depend on their most capable staff to help create value through intangible assets, such as patents, licences and technical know-how. In fact, globalisation and technological competition brings to much complexity of many jobs and occupations. Firms are now looking for individuals with an range of abilities that might include specialized skills, broader functional skills, industry expertise and knowledge of specific geographical markets. The skills include: digital skill means the fast growing digital economy is increasing the demand for highly skilled technical workers. Companies are looking for staff with social-media based skills, especially in " digital expression". Agile thinking means the regulatory and environment uncertainty, such as life sciences and energy and mining industry's talent knowledge, ability skill is needed for employee's personal effort and characteristic needs; interpersonal and communication skill, H R managers predict that co-creativity and brainstorming skills be greatly in demand, it will bring relationship building and teamwork skills; global operating skill means that ability to manage diverse employee is seen as the most important global operating skill, glocalisation ( where home-market products and services are tailored to the taste of overseas customers and innovation ( where staffs lead innovation and then the company applies these new ideas to mature markets). Talent is a relative concept, it includes these components, such as technical specialists, especially in areas key to the organization's core capabilities, individuals with hard-to-recurit skills, bright individuals from underrepresented groups whom the positions, the best-performing graduates or school leavers and managers with the potential to move into senior mangement positions at the local, national or internatonal level. However, judgement effort is the main factor to influence organizations to select individuals whose behavior and values fit with those of the organization. How performance and potential are measured is for senior managers to decide. In many cases, the definition of exceptional performance is explained in competency frameworks and appraisal systems. Defining high potential can be more difficult and might include a range of assessment tools, such as development centres, psychometric testing and the personal judgement of those whose insights into talent are widely repected.