The Human Resources Department of an organization is the core of every business. They recruit and screen the most exemplary employees from the available workforce. They also work to engage and retain those people and mediate any conflicts that may arise.
You may have heard the term talent management often used when discussing the skills that make a business successful. Keep reading if you’re curious about what breeds successful talent management and how you can adopt this business strategy to your enterprise.
The Purpose Behind Talent Management
To have the best business, you need to have the most clever and talented people on board. Integrating good talent management will create a good reputation for your business. Creating a well-rounded corporate image will attract top-notch talent to apply as you will be seen as an employer of choice.
Talent management also encompasses the development of employees in an effort to grow and retain them. Being able to bring an employee to their full potential is one of the objectives talent management strives to fulfill. Having people succeed in their roles is beneficial to your business as their improvement can translate to higher productivity and better customer service.
The People Behind Talent Management
The term talent management often gets jumbled up with other office terms. It can be confused with performance management as they cover the same intentions as talent management— keeping employees in the organization and assisting them to get better in their role.
Some say the distinct difference is in the department implementing the strategy, but that isn’t the case. It’s more accurate to say that performance management is one aspect of talent management during employment. They aren’t very exclusive business strategies.
The HR staff and specialists utilize talent management and the duties that come along with it to succession plan and strategize for the future. Some tasks related to performance management, such as training and creating clear work expectations, are delegated to those in the managerial roles. An employee will always seek direction from and report to their manager, so it’s essential that there is trust and open communication between an employee and their manager.
The Process Behind Talent Management
There are many aspects of talent management. The HR department coordinates each part of the strategy to recruit and keep talented employees successfully. Here’s a quick outline of how talent management flows through the lens of an HR professional:
- Creating a recruitment plan
- Writing and posting the job opening
- Reviewing applications
- Scheduling and carrying out interviews
- Constructing an attractive job offer
- Onboarding the new employee
- Providing and/or coordinating proper training
- Ensuring that the manager is helping to set goals and give feedback
- Diving into career planning
- Working with the leadership team to talent map and succession plan
- Handling resignations or termination
The process of talent management can face several challenges; dealing with personnel conflicts that may arise at the office or a company culture that can be rather abrupt. The hindrances can even come as early as application reviews if there aren’t any qualified candidates that apply.
To combat this, HR must balance the needs of the employees and the company’s goals. HR must source talented applicants and promote a healthy work environment. Employees who don’t feel valued will often be inefficient or resign.
In summary, talent management requires a lot of soft skills when dealing with prospective employees. The job doesn’t end there as you also have to implement tasks that will help contribute to their growth. It can be a significant duty to create a space where everyone can prosper, but achieving that will lead to a company’s success.
Involvi is an Edmonton-based human resource consulting firm. Small- and medium-sized businesses can find help and advice to optimize their human capital. Contact us today!