The team you build to help your business reach its goals is a crucial factor in achieving those goals and your business in general. Because of this, talent management might be one of the most important categories to focus on as a business owner. So how can you ensure you have the right processes in place? First, let's dive into what talent management is and how important it is to the future of your business.
When you hear talent management, you may assume it means actors, movie stars, and performers. But on the contrary, talent management is the process in which you hire top talent for your business, ensure those individuals are productive in their roles, and how you keep those proper seats filled within your company.
The Talent Management System comprises four categories that should be focal points when hiring and retaining your employees. TMS categories to master are:
Hiring Top Talent
With today's technology, there are so many ways to reach your ideal candidates. If your company needs a strong strategy for hiring, now is the time to sit down with your HR department and develop one. Targeting candidates with the required skills or placing your hiring post right where your candidates are looking is crucial. Promote your jobs with intention and pinpoint exactly who you believe is suitable for the role.
Once you've hired a candidate, it's time to invest in them, and you can do so by ensuring your company's onboarding and training processes are so well developed they are used as a resource for your new hire. In addition, ensuring their transition to your team is seamless will help you and your new hire. REMEMBER developing your staff, helping them grow in their role, and evolving in their career with you does not stop when they first sign on with your company. It is crucial to constantly help your staff evolve, empower them and help them grow with the company. Nurturing and developing your staff beyond their start date will benefit your team and your company.
Motivate and Grow
Morale is so important when it comes to the efficiency of your staff. Investing your time into your team, surveying them on their happiness in their role, and what resources they would like to see more of can put your company heads above other companies. Now, more than ever, companies have found themselves being revolving doors. Retention is crucial as constantly hiring can be costly in time and money. Motivating your staff and helping them grow can increase productivity and create a great work atmosphere.
As previously mentioned, retaining employees can save you time and money in the long run. Employees who are loyal to your brand and feel appreciated will always go the extra mile. Doing what it takes to retain your best talent will make all the difference in efficiency and be an excellent sign for candidates considering your company.
It's essential to set up a Talent Management System within your organization. Sitting down with your executive staff and HR team, you can set clear objectives and expectations for how you'd like to hire and, more importantly, retain top talent. Ask yourself what your ideal candidate looks like, how your culture can be a benefit to future candidates and how you plan to help those who are hired evolve and grow. From there, you can create a strategy that attracts top talent and retains them.
Give the Employee a Chance to Improve
Firing an employee can change their life, so giving your employee a chance to change what you feel isn't working is important. Having a conversation with this employee is vital to let them know you need to see better productivity or ask them what resources will allow them to excel in their role. Allow them to better themselves.
THE FUTURE OF TALENT MANAGEMENT
Attracting top talent can be difficult today as the hiring market has gotten more competitive with hybrid positions and completely remote roles. How you represent your brand and set up expectations for a role can make all the difference when recruiting, hiring, and retaining employees. As we continue evolving in talent management, make sure you're investing not only in the role but in the person filling the role as well.
TALENT MANAGEMENT: A GREAT ASSET TO YOUR BUSINESS
Talent management doesn't have to be scary and should be viewed as an exciting way to ensure you bring in the right people and keep them. The Shift Spot community comprises business owners working to evolve their talent management systems and implementing best practices to create teams that will lead their companies to success. If you'd like to join the conversation, we'd love to have you.