In today’s world, talent drain is a major concern. That’s why it is important for employers to pay keen attention to talent management, if you do not want your employees to resign and go work with your competitors.
The truth is that people are at the heart of economic success equally as performance. It would be a bad thing to lose high potential employees because of poor talent management.
So, you may be wondering, “how do I attract, consolidate, and most importantly, nurture my employees to improve their career mobility?” continue to read on to find answers to this crucial question.
Talent Management: Definition
Talent management is a crucial part of human resources management. It can be defined as a thoughtful approach executed to hire or recruit, employee retention and develop talent with the much needed skills or aptitude to meet present and future needs and goals of the company.
It is the development and maintenance of a supported and people-centric work culture. Therefore, talent management is the commitment of a company to hire, develop and maintain the most qualitative and talented high potential employees available on the market.
Benefits of Talent Management To an Organization
- Developing High-Performance Employees.
- Attracting high potential talent and retaining them through refreshment, disc vs mbti tests, and appropriate training.
- Increase the productivity of the company.
- Retain high performing and talented employees.
- Develop competencies and skills in employees.
- Property time management because unskilled and untrained employees waste a lot of time and make errors, which is costly.
An indispensable pool of talented and qualified professionals can speed up the process of accomplishing goals and help to focus on matters that are of great importance to the company. So, the main goal of talent management is to maintain an efficient and skilled workforce.
For modern companies, the significance of talent management is a top priority. Unless a company has the needed talent, it cannot accomplish its goals even if other factors, such as technology, infrastructure, and natural resources are in place. Indeed, it is people who push the company to greater heights of success and promote the employer brand.
The Different Types of Talent in an Organization
Talent acquisition is perhaps the foremost and the most crucial step toward effective talent management. This is indeed true both among the current employees in the organization and during onboarding. Below, we share the different list of talents to develop.
High Performance Talent
High potential talent reveals its capabilities and aptitude by producing an outstanding result and adding more value to the organization. They are successful in their intellectual abilities and productivity.
The good thing with innovative talents is that they always shine and stand out. This is due to their immense creativity and unmatched imagination. Moreover, they always boast incredible ideas in times of organizational transformation.
This is a person who has not yet shown all their strong potential but already stands out. Normally a young individual with an interesting degree or a professional background, the high potential individual is motivated, curious, and efficient from the word go.
This is the most rare talent a company can ever possess, and an extremely rare aptitude on the job market. Typically, it is a hyper-specialization in a given geography or sector of activity.
Adaptive talent adapts its skills and talents to the situations at hand. Therefore, it is a good element on all projects that are bestowed on them.
This high potential individual boasts incredible ability and plays a vital role in the organization’s strategic plan including, but not limited to, employer branding strategy.
The Role of Manager and Leader in The Talent Management Process
The manager of a company is in the front line of discovering talent in his team members. Nonetheless, there is more to their responsibility other than this. Once they have identified a potential individual, they must embark on developing talent. High potential needs professional development to progress and unlock their full potential in their line of work.
In this context, meetings are paramount. Moreover, information professional interviews, annual appraisal interviews, and conventional individual reviews are all part of the talent management process.
But in the case of talent wars, communication is not sufficient. Good talent management also demands a credible managerial posture as well as a manager-coach status. The main objective for this is to keep the motivation and desires of the employees within the organization intact.
How to Identify Talent Within The Organization
Understand The Company and How it Functions
To find the right talent that fits for the organization’s talent development strategies, it is first of all crucial to know the needs of the company and how things work within the organization. In other terms, you must carry out an introspection at the organizational level.
- What is the history of the organization?
- What are the values of the company?
- What are the organization practices?
- What are the short, medium, and long-term objectives of the company?
Answering the above questions correctly will help discover the skills required and qualities needed for new talent. In addition, it enables most managers to identify the organization’s internal talent.
This repository of vital competencies should then be conveyed to all the human resource personnel and the leaders. This makes the process of internal talent detection easy during the recruitment or onboarding process.
Identify Vital Soft Skills
To easily identify high potentials, you must look beyond the educational and professional background. You can instead take into account soft skills and leverage the telltale signs.
- Team spirit
- Relational skills
- High productivity
- Sense of responsibility
- Strong commitment
- Leadership mentality
- Ability to adapt
- Spirit of initiative
Human resource tools can also be used in identifying and developing talent. However, the best approach to benefit from a talent pool is undeniably observing and listening.
How to Retail and Build Loyalty
Here are some great talent development examples
A Positive and Welcoming Environment
The wellbeing of employees is one of the key criteria for retaining talent, especially now. But, one out of three employees argue that their employer is little to not concerned about their psychological health. So, what is the best way to improve the quality of life at work? And having an environment that is pleasant and positive is definitely one of the most reliable solutions for talent management.
To encourage and improve team cohesion, team building, after works, and seminars are welcomed. Regular meetings are also highly commendable. In addition, collaborative tools also play a crucial role in facilitating exchanges between each employee. These talent management solutions encourage remote collaboration, mutual aid, and are perfect for telecommuting.
Last but not least, sensory management is yet another impeccable way to motivate your employees. The goal of this technique is to stimulate hearing, sight, taste, and touch of the employees to improve their health and overall wellbeing. Reduction of noise pollution, olfactory diffusers, and office layout.
Reasonable Salaries and Wages
Salary will always remain a crucial factor of attracting and retaining talent. So, it is crucial to pay your employees based on their investment and talent. You will always win in the long run. This is because an attractive income cuts on the turnover and hence allows savings on the cost of hiring.
Solid Prospects for Development
Today, the module of the single job is vanishing quickly. And for various reasons. For instance, 64% of French residents think they will shift roles at least three times throughout the course of their careers.
As a result, 38% of French employees argued that they had already experienced career mobility. Therefore, it is always advisable to encourage internal mobility to retain the best talent in the organization.
The above are just but a few steps on how to develop talent. Nonetheless, any good talent management strategy must offer a career development perspective. This can be functional mobility (change of roles or tasks) or hierarchical mobility (moving up the ladder).
Skills Development Through Training
42% of generation Y’s say they are ready to leave even the most crucial leaders if they do not learn skills as fast as they need to. So, the development of a professional development corporate training plan is crucial to retaining talent in an organization.
Notably, digital transformation has altered the way learning takes place, how most leaders conduct disc tests, as well as continuous professional development process. Thus, there is a growing trend towards a culture of digital learning on demand.
In concrete terms, this digital transformation translates into the development of digitalized corporate universities, blended learning and mobile learning. To gain competitiveness in a world that is becoming extremely competitive, many organizations need to adapt to this innovative training method.
The role of the local manager is to maintain the relational dynamics necessary for the good development, well-being and performance of his talented employees in a company. Thus, a bad management style can considerably harm loyalty. A responsible talent manager is therefore a manager and leader with a highly developed sense of listening, communication, initiative and organization. He also practices talent management through trust. Thus, he values and supports his employees, while inspiring confidence with an exemplary attitude.
Talent Management Policy: Conclusion
In order to value and develop opportunities for the talent, it is essential to provide personalized support and experiential learning. Beyond the increase in competence that coaching allows, such an approach maintains the feeling of confidence, of being valued and the possibility of fully achieving within the company.