“Better Talent is Worth Fighting For”
Posted Sep 23rd, 2015 by Expedite | 0 comments
Recruiting and retaining the best talent from the industry is an important concern for most organisations today. But more importantly, transitioning the talent according to the culture of the organisation is a much bigger task. In definitive terms, this process is referred to as ‘Talent Management ‘– Some experts view it as succession planning; for others, it means seamlessly-integrated efforts to attract, develop and retain the best people.
What are the components of an effective talent management strategy?
Talent strategy must be aligned with business strategy
An organisation’s most valuable resource is its workforce, so designing a talent management strategy that is aligned with business objectives is at the heart of effective human resource management.
By aligning talent management with business strategies, you set a course for employees to achieve their potential and identify their future position within the business. An organisation’s future plans are the clearest indicators of the talents that need to be developed or acquired.
When an employee’s growth in the company is cultivated around strategic business goals, it gives the individual an opportunity to contribute in the best way possible.
Have you ever wondered why some companies excel at developing their business potential whilst others struggle to rise to new heights?
Attract, select and develop the right talent
This is linked to a crucial challenge that HR professionals are faced with - attracting and hiring the right talent.
Experts agree that successful companies are “attracting talent, not just recruiting it”. So how can your company draw in the best talent?
Select the right employees for YOUR organisation –
Effective talent management is about picking the right talent to match your company profile. There is no universal standard for the perfect employee. So, when making a hiring decision, reflect on your organisation’s core values and ideals. Any new employee who meets this criteria, will be a far better fit than someone who simply does not value your internal principles.
Hiring the right person for the right job -
An essential step in the hiring process is choosing the right person for the right job. It may be necessary to look past a candidate’s CV and assess their personality. This means evaluating whether they have the right attitude and temperament for the job. While skills can be learnt and developed, a personality is fundamentally fixed.
You can hire the best employee and fit them into the most ideal position. But over time it is vital to nurture and support the growth of your employees. Create a culture of development where employees feel motivated to learn new skills or build on current ones.
Evaluate performance and potential
Performance evaluations should: –
- Provide a central point to measure individual employee progress
- Communicate new business goals for the year
- Motivate increased performance
- Provide a framework for communication regarding expectations, performance, and personal development
- Provide an opportunity for employees to share their own performance
- Written recognition of work performance
A successful talent management program includes this step for a simple reason - an organisation would not want to promote individuals who are not performing effectively in their current positions.
An important aspect of performance evaluation is potential assessment – an objective way must be found to assess how well an individual will perform at higher levels of responsibility. It is not enough to evaluate an employee’s current performance, as this may not be a clear indicator of future capabilities in a new role. Success in a current role is no guarantee that the individual will perform optimally when given higher levels of responsibility. Consequently, an evaluation system must include provisions for assessing future functioning capability.
If your organisation can address this challenge, get in touch with us at: email@example.com.
In the second series of this article we will discuss other vital elements needed for an effective talent management strategy.