The world today is interconnected, where artificial intelligence (AI) is embedded into nearly every tool, system, and product, businesses must adapt their talent management strategies to remain competitive. As industries across the globe face rapid technological changes, organisations need more than just strong leadership—they require a strategic approach to building a future-ready workforce. 

This is where experts like Khim Tan come in. With over three decades of experience in human capital management, Tan is not only a performance coach but also an advocate for the future of work, offering invaluable insights into aligning HR policies with business objectives and revolutionising talent management.

In the second episode of People Matter Unplugged season 3, Khim Tan introduced her ‘Five Bs Framework’ for talent management. This framework—comprised of Buy, Build, Borrow, Bridge, and Bounce—offers a strategic blueprint for managing talent pipelines. 

Her model enables organisations to make well-informed decisions about how to acquire, develop, and retain talent, based on their current and future needs. Alongside this, she emphasised the importance of creating a strong employer brand and leveraging data analytics to enhance recruitment and retention practices.

What is ‘Five Bs Framework’ for managing talent

At the core of Khim Tan’s talent management philosophy is the ‘Five Bs Framework,’ which serves as a guide for organisations to effectively manage their talent pipeline. Let’s break down each component:

1. Buy: Hiring external talent

In the ever-competitive market today, finding the right people with the necessary skills is crucial for an organisation’s success. The ‘Buy’ element of Tan's framework refers to the external recruitment of talent. She highlights the need for a strategic approach in hiring, emphasising that “organisations must have a clear understanding of the skills they need now and in the future. The importance of a robust recruitment process that goes beyond traditional hiring practices by incorporating data analytics to identify top candidates.”

“Hiring is not just about filling open positions,” she notes, “it’s about identifying and acquiring talent that will drive the business forward, especially in an AI-driven world.”

2. Build: Developing internal talent

The ‘Build’ component focuses on nurturing existing employees by fostering a culture of continuous learning. Tan advocates for organisations to invest in their workforce through upskilling and reskilling initiatives. In an ever-evolving work environment, where AI and automation are reshaping job roles, it’s essential to provide employees with the tools and opportunities they need to grow.

“By investing in learning and development, you not only boost employee morale and loyalty but also future-proof your organization,” says Tan. In doing so, businesses can ensure they have a talent pool ready to step into new roles as the organization evolves.

3. Borrow: Tapping into external expertise

Sometimes, organisations need specialised skills or knowledge for short-term projects or to navigate sudden market changes. This is where ‘Borrow’ comes into play—hiring contractors or consultants to temporarily fill the gap. According to Tan, borrowing talent allows companies to access expertise without the long-term commitment of permanent hires. For example, when a company is undergoing digital transformation, it may benefit from bringing in AI specialists on a project basis.

“Borrowing talent can be a strategic move for short-term needs or during transitional periods,” Tan explains. “It gives organisations the flexibility to bring in highly specialised skills when needed, without the overhead of full-time employees.”

4. Bridge: Facilitating internal mobility

Employee retention is critical in today's competitive job market. Tan’s ‘Bridge’ strategy focuses on internal mobility—allowing employees to transition into new roles or departments within the company. This not only provides employees with new challenges and opportunities but also helps organisations retain top talent by offering career development paths.

Khim highlights the need for transparent communication and a robust internal talent marketplace to ensure the success of this strategy. “By offering your employees a clear path for growth, you’re not only enhancing their career satisfaction but also strengthening your organisation's capabilities.”

5. Bounce: Managing exits effectively

While it's important to develop and retain talent, there are times when an employee may no longer be a good fit for the organization. The ‘Bounce’ element involves managing employee exits in a way that leaves both the individual and the organisation on positive terms. Tan emphasises that handling exits gracefully is crucial for maintaining a positive employer brand and potentially turning former employees into advocates.

“Sometimes, letting go is necessary,” she says. “But how you manage that process speaks volumes about your organisation’s values. A well-managed exit can maintain goodwill and even result in boomerang employees down the road.”

Building a strong employer brand

A company’s employer brand plays a critical role in attracting and retaining top talent. Khim Tan stresses that organisations need to build an employer brand that reflects their values, mission, and culture authentically. A strong employer brand not only attracts high-quality candidates but also fosters employee engagement and loyalty.

For Tan, the key to a compelling employer brand lies in consistency. Organisations should communicate their mission, values, and culture across every platform—from job postings to social media to the employee experience. In this episode, she also points out the importance of leadership in championing these values.

“When leaders visibly live the organization’s values, it reinforces the brand and creates a powerful connection with employees,” says Tan.

To effectively promote the employer brand, Tan advises HR teams to collaborate closely with marketing. “HR and marketing should work hand-in-hand to ensure that the brand message is consistent and resonates with the target audience,” she suggests.

Furthermore, Khim stresses the need for organisations to continuously monitor and refine their employer branding efforts, using feedback from employees and candidates to stay relevant and attractive in a rapidly evolving job market.

Aligning HR policies with business objectives

Khim Tan believes that for HR initiatives to be truly effective, they must align with the organisation's overall business objectives. HR policies should not function in isolation but should be designed to support broader strategic goals. This alignment ensures that HR activities drive productivity and contribute to business growth.

“HR leaders need to be proactive in understanding the organization’s needs and challenges,” says Tan. By staying closely involved in the strategic planning process, HR can design policies that directly address the organization’s priorities, whether it’s fostering innovation or optimising workforce efficiency.

Clear and supportive HR policies are essential for improving operational efficiency and enhancing employee satisfaction, according to Tan. “When HR policies are aligned with business objectives, it creates a more cohesive work environment, leading to higher levels of engagement and retention.”

Leveraging data analytics in HR

Data analytics has revolutionised the HR landscape, and Khim Tan is a strong proponent of its use in making informed talent management decisions. Predictive and prescriptive analytics can help organisations better understand candidate profiles, reduce bias in hiring, and predict employee turnover.

In this episode, Khim discusses how HR professionals can use data-driven insights to improve recruitment and retention. For example, by analysing employee engagement scores, companies can identify potential flight risks and take proactive measures to improve retention.

“Data is transforming HR in a way that allows us to be more strategic,” Tan explains. “It’s no longer about making decisions based on gut feeling but on solid data that drives results.”

Khim also advocates for the use of HR metrics, such as productivity and attrition rates, to measure the success of talent management initiatives. These metrics can serve as key performance indicators (KPIs) that help organisations track progress and hold themselves accountable for continuous improvement.

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• Employers in Asia Pacific rethink salary budgets for 2024-25

Preparing for the future of work

As organisations grapple with the rapid pace of technological advancement, they must also prepare their workforce for the future. Khim Tan emphasises the importance of continuous learning and upskilling to build a future-ready workforce. In a world where AI is becoming increasingly integrated into the workplace, employees must develop new skills to remain competitive.

“Emerging technologies like AI are reshaping the workplace, and organizations need to embrace new learning platforms and methods to keep their workforce agile,” says Tan.

In addition to internal development programs, Khim encourages organisations to build partnerships with educational institutions and industry experts to stay ahead of the curve in terms of skills development. By offering personalised learning and development opportunities, organisations can ensure that their employees are equipped to meet the demands of a rapidly changing work environment.

As People Matters Unplugged Season 3 dives "From Inspiration to Action," we focus on turning strategic insights into tangible HR outcomes. Stay tuned for episodes that shape the future of work.