The Building Blocks of Talent Management
Strong talent management programs are built around several primary components that provide structure and can lead to better retention of employees over time. Just a few years ago, no one could imagine how scarce quality talent would become in many industries. Yet, it’s not impossible to find the talent you need if you do what it takes to build a top-notch talent management system.
The essential building blocks of a strong talent management strategy include:
- Talent sourcing
- Talent assessments
- Quality offers
- Development opportunities
- Positive work environment
- Purposeful work
Talent sourcing is the foundation of recruiting and makes a huge difference between getting the talent you need and watching your competition leave you in the dust with open positions unfilled. Being able to find ready sources of qualified candidates can help you prevent a talent drought and give you an advantage in your industry.
Talent assessments are a crucial part of the recruitment process if you want to hire the right people for the positions you need to fill. Offering objective data about which candidates are best suited for a particular position, talent assessments can make all the difference between guessing which candidate would make the best hire and having the facts to back up your assertions.
A quality offer will attract more workers to your open positions and motivate new employees to give their maximum effort as they learn and make needed adjustments in a new position. Competitive salaries are just the beginning of a quality offer. The right perks can help you snag the best talent regardless of salary; many employees have indicated that they are willing to sacrifice the highest possible salary for particular benefits that are important to them.
Talent assessments can help to match employers with the best possible candidates.
Development opportunities are crucial to retention and succession planning efforts. Having a plan for how to encourage and even help to fund continuing education as well as providing in-house training opportunities can prepare employees for a long tenure with your company by giving them chances to advance as they increase their skills.
A positive work environment is key to employee retention. Treating employees like people rather than machines, having an effective conflict resolution process, and fostering open communication so that problems are addressed rather than hidden or ignored can go a long way toward making sure employees remain engaged in their work and want to stay with your company rather than moving on in search of something better.
Purposeful work will help employees find meaning in their jobs, which is another major reason people want to stay with a particular company. Cognitive and behavioral assessments can help to determine how to structure work so that each employee finds meaning and purpose, and so that the work is well-suited to their personalities.
Having these building blocks in place is the best way to work toward finding and retaining great employees that will help your company succeed. Narish International can help your company build higher-performing teams. Reach out to us to start a discussion about that today.
