What is Talent Management?:
Talent management is defined as “the process of keeping and getting more talented people in an organization” according to Careerstr. Depending on the situation, talent management can refer to recruiting talented individuals in the company or managing the existing talented employees. However, in today’s case we are referring to getting more talented people into our organization and that is what is mostly needed in times like these.
How Does It Work?:
To put it simply, talent management works upon developing successful strategies to recruit skilled, talented and hard working employees. It is a very important part of managing people in an organization be it small or large. Every company wishes for the best talent to enter their organization so that they can yield better results but often find themselves unable to do so due to lack of proper strategies.
According to one survey done by Gallup, only 16 percent of the employees are engaged in their work which means about 84% are disengaged. Gallup’s State Of The American Workplace Report, 2013
This has led to a major issue where companies are looking out for new strategies that can help them hire more talented people and retain them as well. Here is where talent management comes into the picture.
Why Is It Needed?:
If you are wondering why talent management is needed in the first place, there are various reasons for the same. The following are some of them:
– Hiring more talented employees can help companies reach new heights and become stronger than before. It brings about a change in mindset that results in the betterment of the organization.
– Talented employees can be retained to a great extent with proper talent management strategies and this isn’t only beneficial for the company but for the employees too. Retaining talented members in an organization reduces the cost that would have been put upon hiring new ones.
– Talent management can also help companies increase their image by adding skilled employees to their teams which can further help in recruiting more talented people.
Who Are The Key Players?
There are various key players in talent management who play a significant role in getting the desired results. Some of them are:
– Recruitment Specialists:
these are the people responsible for hiring new employees into an organization. The recruitment specialists are in charge of identifying talented people in the market and recruiting them for their organization. They implement various strategies to get the best talent into an organization to perform better than before.
– Talent Acquisition Specialists:
these are the people who look after the talent management of employees that are already working for an organization. Depending on the situation, these are the people responsible for recruiting talented employees into an organization. They work with recruitment specialists to identify potential candidates who can help the organization achieve success.
– Performance Management Specialists:
this category of talent management professionals focus on engaging employees and maintaining their performance to ensure that they deliver the right results. Talent management specialists work closely with other managers to ensure that they are following policies and strategies set by the organization. They make sure managers have a clear understanding of the talent management process and everything is going as per plan.
– Performance Coaches:
these are actually high performing employees themselves who work with other employees to boost their performance. They help employees in their own respective fields which can further increase the productivity of the company. These are usually senior level employees who have been part of a team for a long period of time and usually perform better than others themselves.
– Employer Branding Specialists:
this category includes all those people who work on making an organization’s brand famous in the market. They make sure that they create a good image in the market so that people are aware of what an organization’s focus, goals and objectives are. This ultimately helps in getting talented employees into an organization which strengthens its structure overall.
– Learning And Development Specialists:
these are mainly responsible for conveying necessary information to employees who seek it through various ways. They also monitor the progress of current employees to ensure that they are learning from their mistakes and improving upon them.
– Recruitment Process Outsourcing (RPO):
this category of worker is usually outsourced by companies who do not have the time, resources or manpower to handle these tasks on their own. These people bring a lot of value to an organization through talent management strategies and also play a significant role in shaping the future of an organization.
– Career Development Specialists:
sometimes, talented employees don’t always get what they deserve for their talent and skills which make them feel undervalued. With the help of this category of talent management specialists, employees can be motivated to achieve greater things in life while working with an organization. This can increase the performance of employees overall.
– Employee Engagement Specialists:
to get better results, talented employees should be engaged in their respective tasks so that they are motivated enough to perform their best. These are also responsible for making sure talented employees don’t leave the organization by any means possible which will affect business growth in a negative way.
The Talent Pipeline
The Talent Pipeline is a concept that captures an organization’s flow of talent from entry, through development and to retention. Strong pipelines require a focus on attracting, developing, engaging and retaining employees. Following an effective pipeline will help organisations find people with the right skills and values at the right time.
This is one of the most significant steps of Talent Pipeline. Employers need to attract new talent into their organization, either by creating a strong employer branding or attracting them through different strategies.
After acquiring talent, employers need to invest time and resources in developing them so that they are of great value for the organisation. Doing this will not only increase the engagement but will also contribute to the overall success of an organization.
Employers need to constantly engage with talent throughout their tenure at an organization. This needs to be done by providing them with opportunities which match their skills and expertise, so that they can put them to use in a better way.
Employees who are engaged with an organization are more likely to stay with it for a longer period of time. Retaining them will not only ensure that an organization is free from any kind of recruitment or development costs but will also help in making the talent pipeline stronger over time.
Developing and Coaching Your People
Organizations should adopt a more streamlined approach when it comes to developing and coaching their people. Managers need to provide personalized feedback on a regular basis in order to make sure that employees get what they require promptly. These days, organizations are also using tools like social learning (News – Alert) solutions in order to make the entire process of learning and development more efficient.
Using these tools, managers can easily host online courses, distribute learning content etc., helping employees get access to the right information whenever required. These tools also enable learners to track their course progress which makes it easier for them to check how they are doing in relation to other users on the platform. In this way, organizations can use technology to bring about more enhanced learning opportunities for their employees.
Employers should also implement performance based rewards systems within organizations which will help them in hiring and retaining top talent in the long run. However, this needs to be done with great care as these rewards need to be personalized according to the requirements of different employees. Using advanced HR technology tools, managers can easily monitor the performance of employees which will help them in understanding areas where employees require more focus. This also enables organizations to take timely action whenever necessary by providing constructive feedback and coaching accordingly.
The implementation of these strategies will not only increase engagement levels within an organization but will also ensure that there are no talent retention issues for management.
Creating and Building a Robust Talent Pipeline:
Managers need to consider tools like the applicant tracking system (ATS) in order to build a strong talent pipeline. This tool enables them to develop and maintain an online database of applicants which will help organizations attract more talent over the long run. These systems are easy to use, helping managers with organizing resumes, preparing shortlists etc., making it easier for them to shortlist potential candidates in a hassle-free manner.
Employers need to create specific hiring campaigns to make sure that they get access to more suitable applicants for different roles. These campaigns should be dynamic enough which will enable organizations to build a strong talent pipeline over the long run. In this way, managers can take proactive steps when it comes to finding the right talent.
Employers should consider using tools like the referral software (News – Alert) which will help them in building a strong talent pipeline by encouraging employees to refer people from within their personal networks. These systems are easy to use and can be integrated with an organization’s HRIS or Applicant Tracking System easily. In this way, managers can attract more talent in the long run which will further help them in future hiring needs.
Organizations need to start thinking about the extended workforce by considering tools like global mobility services (GMS) etc., when it comes to managing their people across borders. These systems are already being used by a large number of organizations across the world, helping them streamline their global mobility policies over time.
In fact, it becomes easier for managers to monitor visa status as well as other information about employees who are currently working from different parts of the globe through these systems. In this way, employers can easily take proactive steps when it comes to managing their international workforce.
Organizations should start this trend of hiring people on a more global scale, opening opportunities for new talent across the world which will help them in future growth plans. However, they need to consider tools like GMS etc., to make sure that they are able to manage their employees smoothly over time.
Employers can also recruit people on a more global scale by considering tools like the performance management system (PMS) which will help them in gaining better visibility over employees who are working from different geographical locations. These systems can be used to set up various kinds of alerts, making it easier for managers to monitor key activities across borders.
Employers should also consider integrating these HR technologies with the payroll system to make sure that they are able to calculate and pay salaries as per local requirements of talent.
Integrating Social Media Tools:
It has become easier for employers to engage with more people on a global scale by using social media tools like the digital HR platform etc., Organizations can use these tools, helping them to establish a strong presence on the web, where they can start discussions with their employees, prospects and even vendors easily.
In fact, managers need to take steps in order to protect the organization’s reputation by making sure that these tools are being used for productive purposes only. These systems can be used to drive engagement levels within an organization which will help managers in building stronger relationships with prospects over time.
Employers should consider using these tools when it comes to integrating them with their HRIS or Applicant Tracking System which will help them in creating high quality dynamic candidate shortlists, making this process easier for managers in securing the right talent pool on a long term basis. Employers need to integrate social media tools with their Applicant Tracking System or other HR technologies to make this process easier, opening opportunities for an enhanced candidate experience over time.
Employers should also think of using social media platforms like linkedIn etc., when it comes to building a strong talent pipeline. In fact, there are many features within these systems which will help employers in hiring the right people for in-house positions or business roles.
Managers can also use these tools to post jobs and communicate with their employees on a global scale, making the overall process easier for both parties involved. These systems can be integrated easily with other HR technologies which will help employers to gain better control over hiring activities in the long run.
It has become easier for employers to hire right people on a more global scale, making it easier for them to build an agile workforce which can grow with their business needs. They need to think of using tools like the performance management system (PMS) and the Global Mobility System etc., in order to gain better visibility over employees who are working across different parts of the world.
Employers can also consider using social media tools like Linkedin etc., when it comes to engaging with their employees and even building a strong talent pipeline on a global scale. These systems can be integrated with other HR technologies such as the Applicant Tracking System (ATS) which will help them in hiring right people for in-house positions or business roles.
In general, employers should consider integrating these HR technologies with their payroll system to make sure that they are able to calculate and pay salaries as per local requirements of talent. This will help them in creating high quality dynamic candidate shortlists which can help them secure the right people for upcoming jobs etc., making it easier for both parties involved. Employers need to integrate social media tools with their Applicant Tracking System or other HR technologies in order to make this process easier, opening opportunities for an enhanced candidate experience over time.