“Great companies don’t hire skilled people and motivate them; they hire already motivated people and inspire them.”
So… what exactly is talent management? Talent management is the full scope of HR processes to attract, onboard, develop, motivate, and retain high-performing employees. Sounds easy? Right?
While it is important to create a competitive workforce by recruiting candidates with highly desirable skill sets, you will retain that workforce by investing in continuous learning and skills development, as well as, managing and optimizing performance. Talent Management is about nurturing the talent that you have on your team and ensuring that “new employees” that join your team are set up for success right from day one.
In larger organizations who have a person or department specifically trained and assigned to Human Resources functions and duties – it would be the responsibility of the HR team to lead talent management efforts. But … what happens in an organization without a dedicated HR team? Who leads the talent management efforts? Talent management is a process that must be consistently applied – therefore, it is essential that someone leads this process and it is not left up to individual managers who are potentially untrained and unable to dedicate the time required to manage the whole process. Talent management is a collaborative process that involves managers and supervisors but should ideally have an individual with some HR experience leading the process.
Talent management helps your organization attract top talent, improves employee engagement, productivity and retention. Investing in talent & utilizing employees where their skills and interests are supported you will notice an increase in motivation, engagement and ultimately retention. Regular reviewing and adapting talent management strategies ensures employees have the skills and knowledge needed to remain effective in their roles and gain any skills required to move to future desired roles within the organization. There is no one size fits all talent management strategy – what works well for one organization may not work for you.
Talent management is an essential part of the HR function, even for smaller organizations. Your employees are your greatest asset, and it’s up to you to keep them motivated, provide development opportunities and show them exactly where they fit into the future of your organization.
Continue following our Blog in the coming weeks as we break down & further explain some of the critical steps in creating a talent management strategy for your organization.
Does this seem insurmountable for you as a small business? This is where HR support for your business and your management team can help. Engaging with an Independent HR Consultant can alleviate the stress of the unknown. We work with many companies that are in the same boat as you – we use our knowledge and expertise to help you define and elevate your Human Resources strategies and goals. Need some help setting up an HR strategy for 2023?
Looking back over the last few years we have come up against a global pandemic, a shift to remote work and what some industry experts have called “the great resignation”. What can we expect next?
Economic uncertainty, inflation and potentially a recession are top of mind as we begin to dig into 2023. How should these be considered in your recruitment strategy?
We have started to see the pandemic take a backseat and businesses are facing higher than expected turnover and recruitment challenges. When you factor in the rising cost of living, it makes sense that there will be a corresponding demand for higher wages and more meaningful benefits.
What to expect in 2023? Recruitment will require businesses to become proactive instead of reactive. As a business, there will be a call to create and execute some key strategies to locate talent before you have a demand to fill a position. It will create an advantage for you to look at recruitment in much the same way as you look at attracting customers/clients to your business.
Some key ways to achieve this:
Competitive compensation and benefits
Utilizing the power of Social Media
Increasing Employee Retention efforts
Employing Hybrid work models
Creating a great Candidate Experience when recruiting
Consider using “Contingent Workers” to supplement your workforce
Adapting to the “generational shift” in the workforce
The future means change! Make sure that you have what it takes to rise to the challenges that will come in 2023. The key is to strategically come up with a plan for your business – it is no longer reasonable to wait until you have vacancies to start looking for candidates. Candidates are continually “shopping” for their next employer – if you are not advertising – you are viewed as “unknown” and won’t be attractive to candidates the next time you post a vacancy!
Does this seem insurmountable for you as a small business? This is where HR support for your business and your management team can help. Engaging with an Independent HR Consultant can alleviate the stress of the unknown. We work with many companies that are in the same boat as you – we use our knowledge and experience to help you define and elevate your Human Resources strategies and goals.
Hiring Independent Consultants is an advantage for small businesses when full time/on staff support is not required. Reach out and chat with us and see how we can support your business in creating and executing a Recruitment and Retention strategy for 2023.
“When people are financially invested, they want a return. When people are emotionally invested, they want to contribute.” – Simon Sinek
Employees want to feel like their contributions count and that their opinions and voices are heard. When employees don’t feel like their contributions count, they’ll seek out an environment where they do. Turnover is expensive so how can you make sure that your people feel like their voice is heard and concerns are addressed? Research shows most employees appreciate a commitment to frequent communication. Collecting feedback from your team shows them that you’re listening. When done correctly – Employee Engagement Surveys are one of the best opportunities for employees to share their honest feedback and opinions.
Many businesses conduct customer surveys as a way to improve their business – the same should be applied to your employees. Business success and employee satisfaction are directly related. Engaged employees are more motivated and productive – they take pride in what they are doing.
Employee Surveys can have a positive impact on:
Improving your business
Increasing Employee Engagement
Boosting Employee Retention
Promoting a positive work environment
Whether conducting Annual Employee Surveys or regular Employee Pulse surveys it is important to show your employees that the effort that they put into answering the surveys is appreciated and that the information gathered through the surveys is looked at and acted upon. Just sending out one survey is not going to give you valuable results. It’s about creating a “Survey” process so your employees can easily see that you are interested in creating a feedback culture that uses surveys as one of the tools and that you act upon the feedback to motivate employees and create a more positive work environment. By surveying employees and acting on the feedback given – you can specifically address areas of dissatisfaction for your employees. Benchmarking this data will allow you to track your progress in these areas that require improvement.
Transparency plays a huge role in this process. Sharing the survey results is extremely important – the good and the bad along with your action plan/timeline for acting on the results. Don’t just talk about the survey at “Survey Time” – talk about it periodically and discuss the action plan and what your business/management team has been doing to move the plan forward.
Engagement surveys have the ability to provide the context your business needs to identify concerns, create an action plan and drive meaningful change within your business. Collecting and tracking survey results will allow you to benchmark your data over time and identify opportunities for improvement and measure the impact of any of your actions taken.