Building an effective talent management strategy

Building an effective talent management strategy

Investing in talent management, or the way that your organization attracts, retains, and develops its employees can give your company an edge. It includes all the ways that your organization brings employees on board, keeps them happy and productive, and helps them continue to develop their skills over time.

There is a significant relationship between effective talent management and an organization’s overall performance, but to help shape workforces that have the skills to achieve, you need to establish a talent-first culture. By putting talent first, companies can improve organizational performance and gain a competitive advantage in the marketplace.

Here are some top talent management practices:

Candidate recruitment. Establish a strong relationship with recruiters who specialize in your industry sector to source top candidates who are not typically job searching.

Referral programs. Talented individuals tend to know each other. So introduce a program where employees can recommend friends and colleagues for jobs.

Employer branding. Strengthen your employer brand through your social media channels to showcase your culture in a positive manner.

Candidate experience. Ensure a positive applicant experience – good reviews on employer portals are invaluable.

Onboarding. In addition to providing new employees with important information on the company and their position, give them a clear understanding of your corporate culture.

Employee engagement. Establish a feedback culture in the company to find out what your employees truly care about.

Development. Provide training and mentoring programs that allow your employees to develop professionally and personally.

Performance management. Use people analytics to measure and track employee performance.

Succession planning. Build a talent pipeline with promising candidates to quickly close any emerging skill gaps.

Building an effective talent management strategy can have a major impact not only on talent concerns like retention and acquisition, but also on your company’s overall health and success – but only when objectives are intentionally tied to the overall aims of the business and when you create an environment in which your entire workforce can reach its potential.