The last guide to expertise control [Strategy + Best Practices]

Have you ever wondered what separates successful companies from those organizations that struggle year after year?

Product or service, price, industry, market share and thousands of other factors can affect business success. But there is one area where they will never succeed as an organization if they fail.

Recruitment and retention of quality employees.

You may believe that your customers are the most important aspect of your business, but who serves your customers? Without top-notch staff, your product won’t make it to market and you won’t have customers to serve.

with high turnover rates in industries, employers are struggling to understand what attracts top talent, cultivates loyalty and engagement among employees, and encourages them to stay for the long term. If your team is dealing with dissatisfaction, low engagement and productivity, and a revolving door in your HR department, you’re probably wondering this too.

The good news is that implementing a talent management program can help companies of all sizes and levels of employee engagement find a sense of balance.

What is talent management?

Put yourself in the shoes of your employee for a moment. What is the experience of your employees? What attracted you to the company in the first place? Was there anything you could have done to make you want to work there even more?

Now consider the onboarding process. Did you receive the training and support you needed to succeed in your role? Are you valued for your unique skills and paid accordingly? Do you think there are adequate opportunities for growth? What about workplace culture? Do you feel comfortable expressing opinions and new ideas?

All of these issues affect your employee’s experience and whether or not they stay engaged in their roles or become disengaged, disillusioned and dissatisfied with their work. When this happens, they aren’t showing the productivity you’re looking for, and it won’t be long before they’re planning an exit strategy.

Talent management falls into three different categories:

1. HR processes that together create the best possible employee experience. We will discuss this more in the next section.
2. Attracting, developing, motivating and retaining the best talent for your organization.
3. Development of high performance employees

“The purpose of your talent management strategy is to attract, motivate and retain your employees,” he says Rameez Kaleemfounder and director 3R strategy.

“No factor like pay or benefits is going to get you that. You need to think about your overall strategy to create an environment where employees can thrive and feel empowered to achieve excellence. This includes your approach to pay, benefits, creating a positive work environment and providing people with opportunities for personal and professional growth.”

As a business owner, manager or HR professional, it’s your job to provide your employees with the best possible conditions, so that when outside opportunities come knocking, they can’t help but say “no thanks, I’m happy here.”

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How does talent management fit under the umbrella of HR?

While talent management may be the responsibility of a manager or senior manager, it may (at least in part) be performed by your human resources department, depending on the structure of your organization.

Why?

Human Resources is responsible for implementing workplace policies, handling interpersonal issues, and managing payroll. However, many companies are also involved in recruiting, training, mentoring and creating employee experiences. Your HR department can take responsibility for employee engagement, performance and company culture.

This makes it essential that your HR department is considered part of the talent management team.

Talent management strategy

Hopefully, you’ll approach every aspect of your business with a strategy, from marketing to sales and production to delivery and tracking (and everything in between). Talent management is no different. To create the most positive experience possible for your employees, you will approach talent management with a strategic plan designed to effectively achieve your goals.

To do this, you need to go through five steps.

1. Set goals and metrics that you will use to measure your progress.

What do you expect from your talent management program? Do you want to attract more employees? Are you experiencing extremely high turnover and want to retain your top talent? Identify talent management metrics that will allow you to track your progress and determine whether you have reached your goal.

2. Pick one or two areas to focus on (initially) before embarking on a major renovation.

While it would be wonderful to improve every aspect of the employee experience overnight, these things take time. Once you’ve determined your goals in Step 1, you’ll have a clearer picture of which area of ​​talent management you need to tackle first. Once you’ve optimized this area, you can move on to the next.

3. Consider what sets you apart from the competition.

You’re used to competing for clients, but have you ever thought that you’re also competing for talent? Just like your customers, your employees (or potential employees) have other options. They want to find the best fit and compensation for their skills, and you can bet they’ll be doing their homework.

Find out what sets you apart from others and what makes you special. Do you offer special benefits for employees? Does your culture make your employees proud to be there? Does your contribution to the community excite potential and existing team members?

Know what makes you different and don’t be afraid to communicate that to potential employees.

4. Identify the specific skills needed for growth and advancement.

Do you already have someone on your staff who can take on this responsibility? Perhaps you have an HR business partner who can take the reins of a talent development program. But maybe a talent manager is the first position you need to fill. A person dedicated to this program can help you get the most out of your existing employees and guide the decision-making process for new hires.

5. Identify and analyze key performance indicators.

If you can’t measure it, you can’t improve it. Be specific with the key performance indicators you will use to determine your success in this endeavor. Keep an eye on these numbers and if they aren’t going in the right direction, it might be time to revisit your strategy and switch gears.

The better your strategy, the better your execution. Don’t be afraid to take some time to plan before taking the plunge.

The talent management process

Now that you understand the talent management strategy, how do you integrate it into your organization? The talent management process consists of six steps:

1. Identify your needs.

If your sink was leaking, you wouldn’t hire an electrician. Before you start posting job openings, determine what roles you need to fill and what skills are needed to fulfill those responsibilities. Once you’ve done this, you’ll be in a better position to create a job description and post the vacancy.

2. Attract the right talent.

Remember that you have a treasure trove of talent at your fingertips. Having the ability to promote within your company will do much more than save time on deployment. You will also boost employee morale as your team now sees room for advancement within the company. If you don’t have anyone suitable, you can find a new colleague outside the organization.

3. Choose the right talent.

This varies from company to company. You can start by creating a shortlist of resumes, ask to take a test, conduct individual or team interviews, and finally leave the decision to the head of department or HR. However you go about it, make sure you go back to step 1 and recruit based on your needs.

4. Develop your employees.

This can include onboarding new employees as well as providing ongoing training for your existing employees. When you help an individual become the best employee possible.

5. Retain employees.

You’ve worked hard to attract the best talent. Now, how do you make sure they stay with you? Employee retention strategies may include increased pay, additional benefits or perks, rewards or gifts, promotions, etc.

6. Establish an opt-out process.

No employee will last forever (we’ll discuss this in more detail below), but what do you do when an employee leaves? Find out what responsibilities they perform and find a replacement based on your findings.

If the employee has brought great value to the organization, ask them to train their successor to hit the ground running before your existing employee leaves. You may also want to include an exit interview. You can discover a lot of knowledge about the employee experience by asking someone at his or her exit.

This talent management process will look a little different depending on your industry and your business model, but this should give you a good understanding and a solid starting point.

Talent Management Best Practices

You don’t have to reinvent the wheel when it comes to attracting and retaining top talent. There are a number of talent management best practices that you can follow to be more successful. Some of these are:

1. Have a strong employer brand. Candidates can choose where they want to work. To attract the best possible candidates, develop a strong brand as an employer.
2. Have a good reputation. Of course, there are always things beyond our control, but how the world views you has a lot to do with how you present yourself as a company. Do what you said you were going to do, and do it well.
3. Encourage employee referrals. Good people know good people. Ask your existing employees to recommend job seekers they know and trust. Offer them incentives for their help and keep them updated on how the process is going.
4. On board and in the vehicle correctly. It’s a truly awful feeling to join a company (or be promoted to a new role) and not be prepared to succeed. Provide them with the necessary training to be the best in their new role.
5. Provide ongoing training. Yes, they may know how to do their current job, but what are you doing to prepare them for their next role? Most employees want to move up the career ladder, and if you don’t give them the incentive and opportunity to do so in your organization, they will definitely leave.
6. Create a talent pool. Eventually, each person will leave their role. This could be due to promotion, retirement, opportunities outside the organization, etc. Prepare for this by identifying star performers and preparing them for promotion. When the time comes for a role to become vacant, you’ll have someone waiting in the wings to jump in.
7. Provide performance feedback. No one likes to wonder if they are hitting the target and meeting their manager’s expectations. Provide regular feedback and opportunity for improvement so your employees are never in the dark about their present or future.

Your employees are truly the most important aspect of your business, and without quality team members, you will not be able to achieve your goals. Implementing a talent management program in your company can help you position your organization as a sought-after employer and motivate employees to remain loyal to your organization.

Don’t be afraid to invest in your people. It will be the best investment you ever make.