In my last blog we discussed the Microsoft Dynamics 365 for Talent application and how it can assist with hiring the right people for the position and how you may improve their retention in order to protect your current investment in your employees. In this blog I wanted to take this one step further and discuss the Dynamics 365 application and the specific areas that the Microsoft Dynamics 365 for Talent application can enhance your organization.
First let us recap what we discussed in my last blog:
- To calculate your company’s turnover rate for a given period of time:
|100 x||Number of Employees Separated During the Period|
|Average Number of Employees During the Period|
- There are costs association with employee Retention:
- Loss in an investment in training, knowledge, and experience
- Cost of finding a replacement
- Impacts to the remaining employees and the productivity of the organization
- How to decrease employee turn over
- Hire the right people
- Utilize screening to determine the best fit within organization and position
- Hire the smartest people
- Offer a competitive benefits package to attract the right people
- On boarding
- Establish well defined tile and roles for the position
- Detail their responsibilities
- Outline their career path
- Identify personal and corporate objectives and goals
- Employee Retention
- Provide training for the position
- Provide additional training for employee growth
- Provide mentoring to the employee
- Create Regular meetings with the employee
- Encourage a balance between work and life
- Provide team building opportunities
- Recognize and reward their good work
- Hire the right people
What is Microsoft Dynamics 365?
Microsoft Dynamics 365 is a cloud based application that puts both your ERP and CRM data together in the same place. Dynamics 365 is modular based application allowing the organization to utilize functions based on their business model. This makes your applications work seamlessly together across sales, customer service, field service, operations, financials, marketing, project service automation, human resources, and talent. Dynamics 365 lets you start with what you need and grows as your needs grow.
As stated in my previous blog, the Microsoft Dynamics 365 for Talent app is a cloud only, true SaaS application that is a HR Management Tool. It contains many functions, but primarily focuses on most Human Resource requirements separated from your financials system. The application has extensive tracking capabilities through Dashboards and analytics with direct ties to LinkedIn functionality. The base system is not customizable, but very extensible depending on the needs of your organization. Dynamics 365 for Talent provides the visibility we need to find and maintain the right people for the organization.
The functions addressed by Microsoft Dynamics 365 for talent are listed below.
These functions can be summarized into three basic areas: Attracting, Onboarding, and Human Resources. Let us break these functions down:
- Attract – Hire the right people, faster. Save time by interviewing only qualified candidates and get in front of your competition. Dynamics 365 for Talent’s Attract functionality uses the power of LinkedIn to help you find, engage, and hire the most talented people for your team.
- Onboard – Set up your new employees to be successful for your organization. Onboarding minimizes the risks and fears that comes with starting a job and make the new hires feel part of your team. Dynamics 365 for Talent’s Onboarding features enables you to provide personalized onboarding experiences that streamlines paperwork, improves engagement, and accelerates onboarding time to minimize the impact of the missing position.
- Human Resources – Create visibility for the employee, managers, and organization to increase retention for the employee. Dynamics 365 for Talent’s Human Resources functionality tracks key aspects to address the employee’s success within the organization and plants the seeds for employee growth within your organization.
- Benefits – Dynamics 365 for Talent’s Benefits provides Human Resource and the employee with complete visibility into the benefits they have and the other options available. This enables Human Resources and the employee to view, report, and track the benefits providing a more transparent environment for the employee and the Human Resources.
- Compensation Management – Dynamics 365 for Talent’s Compensation Management provides Human Resources and the employee with complete visibility into their personal compensation package. This enable the employee to view, report, and track the benefits providing a more transparent environment for the employee to measure their progress within the organization.
- Employee Development – Dynamics 365 for Talent’s Employee Development provides Human Resources, the employee, and management with key information into the employee’s objectives and goals. It enables the tracking of the career path the employee would like to follow detailing where they came from, where they are now, and where they want to go to.
- Employee Self Service – Dynamics 365 for Talent’s Employee Self Service enables the employee to view, report, track, and modify their own Human Resource information making the employee feel more empowered as a member of your organization’s team.
- Learning – Dynamics 365 for Talent’s Learning enables Human Resources, the employee, and management to view, report, track, and update an employee’s education and skills. It further allows the tracking of courses taken, certification tests, and much more.
- Leave and Absence – Dynamics 365 for Talent’s Leave and Absence feature enables the employee, Human Resources, and managers to view, report, and track their leave.
- Task Management – Dynamics 365 for Talent’s Task Management enables Human Resources, the employee, and management to view, track, and report on tasks providing additional visibility on performance.
- Business Processes – Dynamics 365 for Talent’s Business Processes maximize strategic impact by automating routines for the three main areas of Attracting, Onboarding, and Human Resources so your team can focus on strategy within all these areas. This speeds up the process involved in each area to minimize the time to address any concerns.
- Compliance – Dynamics 365 for Talent’s Compliance minimizes compliance risk and can avoid costly fines and easily navigate regulations that govern the employment relationship. It further can maintain HR compliance across your global organization.
- Organization and Administration – Dynamics 365 for Talent’s Organization and Administration allows Human Resources and management to monitor, view, share, and report on the organization structure and the communication flow.
- People – Dynamics 365 for Talent Centralizes employee profiles that highlight skills and experiences using Microsoft Office 365 and LinkedIn data to get a 360-degree view of your people and organization.
Microsoft Dynamics 365 for talent provides the framework to monitor the Human Resources, hiring, and onboarding processes to ensure key employee needs are being addressed and tracked. By utilizing the application’s many features and addressing the needs of the employee while considering the needs of the organization, we should be able to reduce employee turnover and hire the right people.