As a talent optimization partner, we develop great candidates and pair them with progressive companies to help you create the workforce you need. That is why this series will give you the information you need to understand, and optimize, the four pillars of talent management.
Optimizing your talent management philosophy and practice is your number one strategy to drive retention and performance. Planned and executed effectively, it will amplify your employee’s development, and support the organization’s goals. Below we introduce a high-level overview of each area that will be covered in greater detail in the coming weeks.
Talent Development is your first line of defense, because without the skills your business needs to remain competitive the future will never come. This is not just about developing your leaders, although that is important, but developing your entire workforce. You can do an excellent job on the other pillars, but if you fail here you will not succeed. Or if you do, it will be challenging to sustain without tremendous cost.
The Association for Talent Development (ATD), reports that organizations that have comprehensive training and performance coaching have 218% higher income per employee. Further, the same companies report a 24% higher profit margin. Yet research also shows there is a lack of activities that foster development.
Developing people effectively means aligning your people strategy with your business strategy and culture, so you understand where you have been, and where you are going. Only then will you know where the gaps are and be able to plan to upskill and/or hire. To do this effectively, ensure you have buy-in from your leaders from the start, then build a plan to support and develop them to get the results you seek. Unfortunately, there is no one-size-fits-all approach. But there is research, and an abundance of resources and specialists, to help you find your way.
How does your company find the skilled professionals you need? We are not just talking about filling vacancies. Recruitment is only part of the equation. What is your strategy to find the people take your organization into the future?
We want to revolutionize the Talent Acquisition landscape by helping you add value through:
1. Continually attracting candidates from the top 1% of professionals, even when you are not looking for a specific new team member
2. Finding candidates for positions with a specialized skillset
3. Long-term human resources planning
Rewards and Recognition is a broad category that covers monetary and non-monetary Compensation, and formal/informal recognition. Like Development, Rewards and Recognition are highly personal motivators. Organizations must be flexible in their approach to allow leaders to be creative so they can retain their purple unicorns.
In the article we will talk about the diverse activities and programs. We will also offer some simple solutions for meeting your employees where they want to be met. Because The Hire not only brings you the best people, we help you keep them!
As Talent Development is the natural place to start the conversation, Performance Management is a good way to wrap it up. Because managing performance is dependent on all the pillars. After all, the Performance Review is the most debated topic in any discussion of talent strategy. Join us for this final article in the series to learn about the history, different methods, and get a peek into the future.
That is all for this week, come back next week as we begin the deep dive on each of these topics with the value of Talent Development – because cultivating absolute stars is what we do!
Lisa Crockett is a leader and professional development coach with more than 20 years of experience in Human Resources, Learning, and Performance. To learn more about her professional career visit her on LinkedIn.
The philosophy. The process. The benefits.