Talent management, the strategic process of attracting, developing, and retaining high-performing employees, is critical to helping your business maintain its edge in an increasingly competitive market. But not all talent management strategies are built for long-term success. We break down six best practices you need to follow to make sure yours is.
#1 Define what’s needed to succeed
The concept is simple: The more you understand what’s required to succeed in a given role, the easier it is to attract, acquire, develop, and retain talent for that position. The key is looking beyond just past experience and hard skills, but also considering other qualities that lead to exceptional (or not-so-exceptional) performance. For example, what personal attributes are a good fit for your company culture? What are the behavioral qualities associated with success or failure in each given role?
#2 Create a strong employer brand
Companies often fail to clearly communicate their organization’s culture and, more specifically, who they are as an employer. Similarly, a company might excel at showing off their values but fall short on execution. In both cases, the result is unmotivated employees who don’t understand how they’re contributing to the company’s larger mission. With a strong employer brand, you’re more likely to attract—and retain—talent that fits well and thrives within your company and is eager to help you succeed.
#3 Put the right people with the right jobs
Of course, you’re not always going to find job candidates that have every single skill a job requires. Many skill sets can, and should, be developed once the employee is on board. That being said, you shouldn’t put all of your focus on development. After all, you can develop better time management or technical skills, but you can’t change someone’s personality, and some behavioral qualities are better fit for certain roles. To find and retain top talent, you should be focused on selecting candidates who’s skills are the top match from the beginning.
#4 Leverage talent management software
Talent management software, such as the Predictive Index, is an invaluable addition to any talent strategy. From streamlining onboarding processes to tracking skill development, these talent management systems give businesses the added capabilities and data-driven insights they need to hire and manage their workforce better.
#5 Foster a culture of high performance
When you have the right people for each role, there’s a good chance they’ll have a natural desire to perform well, but that doesn’t mean you should neglect your performance management. In addition to conducting performance reviews and providing regular feedback, consider investing in other performance initiatives. If you identified some skills gaps during a review, offer opportunities for employees to receive training in those skill areas. If you have particularly high-performing employees, provide meaningful rewards.
#6 Don’t lose sight of the bigger picture
The importance of aligning your talent management strategy with your business strategy may seem obvious, but in reality, it’s something with which many businesses struggle. Too often, business strategy enters the conversation after talent decisions are made. From the moment you start planning to bring in new talent, ensure you’re identifying your business needs and goals and from there, making any necessary talent adjustments, whether that means changing job descriptions, offering targeted training courses, or bringing in new employees.
Empower your employees, and your business.
If your talent management processes aren’t getting the results you want, it’s time to take a more holistic approach. With Empower Partnerships, you get an end-to-end partner who truly gets to know your business, and then brings the long-term strategies that help you engage, develop, and retain happy employees who are motivated to contribute to your organization’s goals. Connect with us today to learn more about how our talent management services help your people and your business grow.