Building high-performance teams that are able to help you meet your strategic organisational goals heavily relies on finding the right people with the right skills to get the job done. But highly skilled and experienced people are hard to come by, and therefore organisations need to not only be able to hold on to their talent, but also be able to spot and nurture up-and-coming talent.
Talent Management is defined as an organisation’s commitment to attract, hire, retain & develop the most effective & productive employees. Many confuse talent management with regular human resource processes, but it’s important to be able to distinguish true talent from the rest of your employee base.
When identifying talent you are looking for individuals who add, or have the potential to add, a particular value to your business due to a specific skill they possess or the business-critical role they fulfil. Successful talent management is the ability to correctly identify these individuals, helping them to grow and ensuring that they feel valued in a way that will make it hard for competitors to poach them.
Where human resource management tends to focus on maintaining your current staffing position, talent management has more of a strategic focus. When it’s treated as a key business strategy, it can have a positive ripple effect across many areas of your business.
Still not sold? Then take a look at our top 4 reasons to invest in talent management:
- Become an employer of choice
Most people aren’t driven by money alone. They’re searching for an employer who they can trust, who cares about their career development and offers stability and job satisfaction. When you become known as a company that pays special attention to developing and retaining their talent, you will become an employer of choice. This in turn means that you’ll find it much easier to attract the most skilled and experienced people in the market.
- Increased productivity
It’s a no-brainer really… when you’ve got the right people in the right roles getting the right level of support when they need it, productivity and employee efficiency will increase and keep increasing. We’ve also seen how employees will happily go the extra mile for an organisation that has a proven track record for acknowledging talent, rather than seeing their staff as just another cog in the wheel.
- Fully engaged employees
With talent management at the forefront of all training and development strategies, it’s easier to identify who requires what level of training when. This not only ensures that unnecessary spend on generic training and development can be avoided, it also means that customised development strategies can be employed which lead to employees that are more engaged and brand loyal.
- Improved customer satisfaction
Happy, talented staff who are fully engaged and highly productive lead to better ideas, improved service delivery, continuous process improvements and reduced time-to-market for new products and services which of course all lead to improved customer satisfaction. And we all know, happy customers equal a happy business which in turn lead to further opportunities for your employees.
Looking to supplement your talent pool? Get in touch. We can assist in bridging a short-term gap while your longer term strategy takes shape.