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Journal of Innovations in Economics & Management

Volume 4, 2023 - Issue 2

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Innovations in Human Capital Management: Strategies for Attracting and Retaining Top Talent

by Sean Smith 1,*
1
Royal University of Bhutan
*
Author to whom correspondence should be addressed.
JIEM  2023 4(2):63; https://doi.org/10.xxxx/xxxxxx
Received: 20 August 2023 / Accepted: 30 November 2023 / Published Online: 30 December 2023
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Abstract

This paper explores innovations in human capital management (HCM) with a primary focus on strategies for attracting and retaining top talent in the competitive business landscape. Human capital, characterized by the skills, knowledge, and abilities of employees, is a critical asset for organizations seeking to thrive and succeed.

The research begins by highlighting the evolving dynamics of the modern workforce. It underscores the challenges organizations face in recruiting and retaining highly skilled professionals in a globalized and competitive environment.

One central theme of the study is the examination of innovative HCM strategies. It explores how organizations can leverage technology, data analytics, and talent management practices to identify, attract, and retain top talent. It delves into the role of predictive analytics in workforce planning and the use of artificial intelligence (AI) in talent acquisition.

Furthermore, the study investigates the importance of employee engagement and workplace culture in talent retention. It analyzes successful models of employee development, mentorship programs, and career progression that contribute to a positive work environment and long-term employee commitment.

A significant aspect of the research is the discussion of diversity and inclusion in HCM. It addresses the importance of fostering diverse and inclusive workplaces as a means to attract and retain top talent from all backgrounds.

Through an analysis of case studies and industry trends, the paper identifies successful models of HCM innovation, highlighting best practices and lessons learned.

Additionally, the study emphasizes the importance of measuring the effectiveness of HCM strategies. It discusses key performance indicators (KPIs) and metrics to assess talent acquisition, engagement, and retention efforts.

In conclusion, this paper contends that innovations in human capital management are essential for organizations seeking to remain competitive and sustainable. It underscores the transformative potential of strategic HCM in attracting, developing, and retaining top talent.

Keywords: Human Capital Management (HCM); Talent Acquisition; Talent Retention; Workforce Planning; Predictive Analytics; Employee Engagement; Workplace Culture; Diversity and Inclusion; Innovation in HCM;
Copyright: © 2023 by Smith. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) (Creative Commons Attribution 4.0 International License). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.

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ACS Style
Smith, S. Innovations in Human Capital Management: Strategies for Attracting and Retaining Top Talent. Journal of Innovations in Economics & Management, 2023, 4, 63. doi:10.xxxx/xxxxxx
AMA Style
Smith S. Innovations in Human Capital Management: Strategies for Attracting and Retaining Top Talent. Journal of Innovations in Economics & Management; 2023, 4(2):63. doi:10.xxxx/xxxxxx
Chicago/Turabian Style
Smith, Sean 2023. "Innovations in Human Capital Management: Strategies for Attracting and Retaining Top Talent" Journal of Innovations in Economics & Management 4, no.2:63. doi:10.xxxx/xxxxxx

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