This article will direct you to “what is a talent management“, look at building a talent management strategy and best practices, as well as examples of digital talent management.
How can we give the candidates a better experience at work? How can we attract and retain the best employee? What do we need to do to win the battle of talent? In this modern futuristic era talent management is one of the current topics in HR.
What is talent management system?
The scope of HR processes to attract, develop, motivate and retain high-performing employees is called talent management system.
Talent management affects all key areas of HR, from recruitment to staff entry and from performance management to retention. This also means that a talent management strategy is needed to utilize its full potential.
The goal of talent management is to maximize efficiency. It aims to motivate, engage, and retain employees to make them work better. That’s why the importance of talent management is so important. When done well, companies can create a sustainable competitive advantage and achieve their competitiveness through an integrated system of talent management processes that are difficult to copy and / or replicate.
In other words, talent management is a process that aims to drive performance through an integrated approach to managing people. Therefore, it is one of the most important activities.
Talent management strategy
As we’ve mentioned already, when done right, the whole will be greater than the sum of the parts. To achieve this, a talent management strategy is key.
As we have already said, if done right, it will all be larger than the total number of parts. To achieve this, a talent management strategy is essential.
Talent Management involves a number of key HR practices.
To define your goals for managing talent and creating a strategy, you need to answer the following questions:
These set of questions are based on a article on building a strategy by Roger L. Martin 2010.
What does your company want to focus on?
There are many areas in talent management that you can focus on. You can be a desirable employer. Being a top employer or being nominated as a Good Workplace requires a huge investment. This can be especially helpful if you want to attract people from all walks of life. However, if you have a specific employee profile, for example, an engineer, you are better able to spend your time developing a technical acquisition strategy.
The HR talent management model is very useful in this situation as it enables you to map specific activities you want to focus on. This will also help in the next step. Below you will find a list of talent management practices that you can improve.
What are the organizational aspirations and principles that enable us to measure progress?
When we talk about specific and measurable goals, we are talking about talent management metrics. These metrics enable us to track what we do and how well we do it. Unwanted profits are a good example of this. If we can keep our famous staff, we will probably not achieve our goal.
How will stay ahead from the competition?
Unfortunately, you are not the only one who wants more talent. Your competition too. How can you bypass your competitors and become an attractive employer? This can be achieved by marking the employer with better quality, better retention, better selection, and more.
What strategies capabilities do we need to build or continue to win?
Talent management requires some unusual skills in HR. Think of marketing to be the most attractive employer, and hire a dedicated talent manager. Another example is the expertise in analyzing HR data to make sure you get the most out of your existing people. Depending on your focus points, you need to develop different skills.
The methods we adopt to track progress and improve?
The final step is to track progress and ensure the continuous improvement of talent management processes. A good way to do this is to use the talent management dashboard. Such a dashboard can provide an overview of Key Performance Indicators and can show changes over time.
So, the question arises in your mind that how does this work in practice? What are talent management the best practices to apply? Here’s an overview.
Strong Branding: A strong brand attracts even the best candidates.
Reputation of Employer: Reputation is more affected by external media the company has less control over. Reputation is directly related to employee branding.
Experience of Candidate: The experience of the candidate influences the employer brand.
Selection of Candidate: Spotting and selecting the best is a critical part of talent management.
Referrals: Referral programs are effective always as they help to pick up candidates that onboard quicker and perform better.
On boarding: Onboarding people up to speed as quickly as possible helps to make them more productive and increases employee retention.
In boarding: Yes, you read it right. When people are promoted internally, they also need support to achieve maximum productivity. This is called in boarding.
Engagement: Engaged employees are motivated, perform well, and are more likely to stay.
Retention: Retention strategies help to keep the best people on board. An example is succession planning.
Learning and development: This is not only a common talent management practice, it’s also a Human Resource best practice. Educating employees helps increase performance and retention.
Performance management: An essential part of managing talent is tracking and improving their performance.
HR Performance Review: As we’ve said before, by leveraging data you can ensure that you’re hitting the right KPIs that have an impact on business outcomes.
Above mentioned is not a comprehensive list. There are many more methods that help to build and maintain an effective employee.
Onboarding
Onboarding is part of a long-running hiring process – and usually still a play – second fiddle. It’s a shame, because the frustrating or non-existent feeling of onboarding is one of the most important reasons why new employers leave early. As mentioned earlier, travel time is like a holiday for new employees. They are still very high on getting that amazing job they so desperately wanted and can’t wait to get inside. As an employer, you want to take that time.
There is a good HR onboarding software out there that takes care of the whole process. From the moment the candidate accepts the offer to build a personalized submission system that sends directly to your new employee’s phone.
Employee Experience/Retention
The answer is a word “Review” or “Feed Back”. Workers look for feedback – and especially the Millennium. Always. And while the response is usually positive.
Competency Assessment
It’s important to have the competencies needed to remain relevant.
Start Free Assessment
Connect Cloud HR software system collect honest feedback from your employees and give you actionable insights based on the data collect.
As a result, you better know what is going on in the minds of your employees which means you can respond if necessary. This, in turn, can have a positive effect on the happiness of your people and their overall knowledge of the staff. It can also increase their engagement and ultimately reduce profits.
If you want to learn more about how Connect HR system software in Pakistan can impact on talent management process contact us +923001110365 at or email us at info@connect-sol.com.
