Essentially people management is the practice of administrating and leading a team of employees within an organisation. There are various components comprising from recruitment to implementing policies, performance management, training, development and etc. Therefore, people management is an impactful and essential aspect for the sustainment and success of an organisation. Nevertheless corporate failures have existed for as long as corporate history has been recorded. Leaders fail to understand the consequences of poor people management.
Effective people management enables for increased retention of employees. We as social beings are emotional-centric creatures. When employees feel valued and appreciated they are more likely to stay and continue to grow together with the organisation. Thus forth, the organisation is not incurred additional cost for recruitment and training processing of new staff. For example, through investing in employee training programs, providing financial rewards and recognition and fostering speak up cultures aids to employee retention.
The second importance of people management is the ability to attract right talent. The organisation statement of purpose, working environment, growth and development roadmaps are some of the key criteria that prospective candidates look forward too. Companies such as PETRONAS is known for its success in attracting and retaining employees.
Good people management revolves around 8 essential key components such as empowering employees, active listening, conflict-resolution, flexibility, patience, clear communication, trust and organisation. In short, people management is an impactful and essential aspect for the sustainment and success of an organisation.