Talent Management Practices that Will Make You Succeed

Talent Management
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There’s no doubt companies want to become “the best place to work” and build a strong brand that attracts top candidates like bees to honey. But, how can they achieve that and keep those workers motivated to do their best? By developing a talent management strategy.

What is talent management?

Talent management involves the whole company in the process of hiring, training and retaining top employees. It’s commonly associated to HR Management but its application is actually in the hands of the managers, who are more actively involved in the employees’ professional development, training opportunities, their career path and motivation within the company, instead of solely relying on the HR department.

The focus of this strategy is to promote candidate development. This means that the onboarding process of an employee won’t only focus on assessing aspects such as attendance, leave, benefits, etc.; but it will also aim to improve their experience in the company by providing more opportunities and benefits that will help them grow as well as result in better performance.

How can you develop a talent management strategy?

1. Build a strong brand. Candidates are more attracted to the strongest brands as they are thought to offer better professional, economic and personal opportunities. Work on your marketing strategies to make your company stand out and gain reputation. What customers, candidates and current employees say about you can place you on the top or bring you down, so make sure they all have a positive experience.

2. Focus on your needs. Make sure you know what talent you are after. Define the role, skills, and responsibilities that candidates will need to fill the post. In order to attract the best talent, you need to know where to find it. Referrals can be a good way to find those candidates that fit your company’s culture but don’t be scared of surfing the pipeline and reach out to the best professionals in your talent pool.

3. On-boarding and in-boarding. To retain new employees, it’s important to make them feel welcomed. A good idea is to implement an on-boarding program to introduce them to the company’s culture and guide them through its processes and goals.

However, keeping these employees motivated to stay calls for an “in-boarding” process, in which you offer support and guidance when they are promoted or transferred to a different department. Help them understand their new responsibilities and celebrate your workers’ accomplishments.

4. Be a good leader. Stop thinking the HR department is the only responsible for your team. Managers are accountable for their employees’ wellbeing, professional growth and satisfaction. You should give out constant feedback on their performance to help them set and achieve their personal goals and those in agreement with the company’s. Make them feel involved, valued and respect their time off to keep them engaged and reduce the risk of losing them.

5. Assess employee performance. This is linked to the previous point and refers to the need to measure your employees’ performance and their impact on the company’s success. At the same time, you can determine if your team needs further training relevant for their role or extra guidance to achieve their goals. As a result, this will have a positive impact on productivity, helping the company beat the competition.

6. Keep a succession plan under your sleeve. Talent management is all about retaining skilled employees by keeping them engaged and motivated. However, a new promotion or a sudden resignation letter can leave you empty handed.

You need to be prepared to fill this vacant position ASAP with someone capable and knowledgeable in skills and company culture. The most effective way is to share information about the new position available with talented workers, who are already part of the company. Training an employee to assume a new role can save you time and money while ensuring a successful match based on the shared history with your employee. This will boost the team’s morale, benefit your employee and lower the risk of people leaving you.

7. Use the right tools. Implementing the right software can facilitate the application of a talent management strategy in your organization. These tools will help you track and assess your team’s performance and include wellness programs taking into consideration their wellbeing, personal lives, and aspirations.

Final thoughts

In a business that is in constant change, adopting new technologies and with fierce competition, it’s important to keep up with the latest trends. If you want your company to be successful, you need to take care of your employees. Make sure they’re satisfied and feel like they grow and evolve in the company which may result in an increase in productivity and better financial outcomes.

Jennifer Soto
Creative Writer