4 Smart Talent Management Moves to Get on the Right Path

Photo of a compass that points to the "Right Path"

Most of us define talent as a special aptitude or gift, and we can spot it when we see it. But “talent management” is not quite so simple.

Talent management is not just attracting, developing, engaging and retaining talented employees; it is all about anticipating what an organization will need in terms of employee capabilities and proactively strategizing to meet those needs. Talent management requires strategically planning a company’s human resources to best enable the organization to execute its business strategy. And it’s not enough to put the talented employees in place for future needs; it requires fully engaging and maintaining those employees at their peak performance.

So how do you achieve the goal of the right talent in the right spot at the right time performing at an optimum level?

Your talent management moves need to be linked to and supported by your organizational culture and your business strategy. In other words, alignment of your strategy, culture and talent is the key to igniting and maintaining workforce greatness. And our organizational alignment research shows that aligned companies grow 58% faster and are 72% more profitable than their peers with 16.8 times higher levels of employee engagement.

Here are four talent management moves to put you on the right path.

  1. Align your talent management plan with the corporate strategy and the business
    Clearly define and communicate your strategic plan across the entire workforce. Involve your managers and their teams in focusing efforts toward the company’s most important goals. Each employee should understand just what is needed to achieve the goals, how success will be measured, who bears the responsibility and how their job specifically contributes toward those goals.Then add transparency and accountability to the mix. When there is performance exposure and transparency throughout the organization, every employee knows where they fit, what role they play, where they stand and how they must work in concert to succeed.
  2. Create a ready source of internal talent to increase organizational flexibility
    The market for talented hires is constantly changing. Organizations that can adapt when unforeseen changes arise are the companies that survive and thrive when the less flexible competition falls by the wayside. Maintain and develop the skills of your employees so they are primed to take on greater responsibility as the need arises. You need ready candidates at every key position…especially at the leadership level. Talent management requires generating so-called talent pools for a consistent and reliable internal source of trained employees.
  3. Foster collaboration and develop better systems for knowledge sharing
    Make information more readily available. Set up a central bank or crowd-sourcing process to ensure special skills, interests, and experience are accessible for all. Employees can reach out and collaborate more easily and managers can use the data for more informed talent management decisions. It’s all in the interest of increasing employee engagement, retention and business performance.
  4. Track and reward desired behavior
    Once you have clearly defined the critical few competencies for success in each job and set expectations for performance, you can make fair decisions regarding compensation. The goal is to motivate employees to strive for their full potential. When you know what constitutes success and failure in each job, you’ll be better able to put the right person in the right position. When employees feel productive and successful, they are more fully engaged in their work and committed to doing their best.

To learn more, download Talent: Why It Is Only 1/3rd of the Talent Management Recipe for Success

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