Through its progression Talent Management has been called numerous things. You may have heard it referred to as: staff management, human resource management, personnel development, managing people, workforce management, or many other phrases – simply, it is managing your employees. In 2020, the phrase is Talent Management. Now that we have clarified the title, what is exactly is Talent Management and why is it so important?
Talent Management is a strategic process of getting the right talent on board and helping them grow to their optimal capabilities while keeping organizational objectives in mind. This includes recruitment and attraction, proper onboarding and continuing professional development, and on-going performance management to retain the best employees.
Recruitment and Attraction
Your company is going to compete with the world for the best talent. Not every role is the same, therefore the recruitment strategy should not be the same. With each role your recruitment strategy should be aimed to find the best people who meets the requirements and most importantly, FIT the company culture, all while telling the applicant WHY they should come work for you!
Proper On-Boarding and Continuing Education
Orientation and on-boarding are not the same! Orientation happens day one, but what is next? Good on-boarding practices will outline a continuous training plan to make sure expectations are clearly outlined and ensures success. This plan could be reviewed every month, quarter and/or year depending on the role. Employees want transparency and availability to grow. Having a plan that gives them the ability to continue their professional development will help retain the best.
On-going Performance Management
Employees want to know how they are doing, but they don’t want to wait a year to hear it. They want continuous feedback and the ability to collaborate on their performance. Having a two-way communication plan tat is informal but engaging can clearly define how well your employees are doing. This will allow you and your employees to determine where they can improve, they can contribute to their own success and the success of the company.
Talent Management must be a TOP PRIORITY! At PeopleCo, we have said many times that when you are planning for your business you must plan to take care of your most valuable resource, your employees.
Hire the Best + Keep Them Happy = Profitability
In 2020 we have seen that two thirds of companies are competing for the best customer experience (CX) and to do that, they need to focus on their employees to create that experience. Putting the effort into creating an employee-centric culture starts with that employee’s experience when applying for the job! Focusing on an employee’s experience right from the beginning is very important. But it can’t stop there either. Employees are looking for organizations that have transparency, professional development, availability for growth, open communication and ability to have impact. They want to be engaged!
If your organization has not been focusing on Talent Management as a Top Priority, you should be. Not only to have a positive employer brand and to be competitive in the market, simply put it is just good business. As Richard Branson’s famous quote says:
“Employees come first. If you take care of your employees, they will take care of the clients.”
Tracy Arno, Founder