4 Smart Talent Management Strategies to Grow

Smart Talent Management Strategies Photo of a compass that points to the "Right Path"

Smart Talent Management Strategies
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.  Smart talent management strategies anticipate what an organization will need in terms of employee capabilities and proactively plan to meet those needs.

The Definition of Talent Management
Fundamentally talent management is the ability to attract, develop, engage and retain people in a way that makes sense for your unique strategy and culture.  And talent matters.  Talent accounts for 29% of the difference between high and low performing companies.

Talent Performance and Anticipation
Done right, smart talent management strategies are all about performance and anticipation.  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 Ensure that the Right Talent is in the Right Spot and Performing at an Optimum Level?
Smart talent management strategies are explicitly 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. Our organizational alignment research shows that aligned companies:

  • Grow revenue 58% faster
  • Are 72% more profitable
  • Retain customers 2.23 time longer
  • Engage employees 16.8 times higher

Four Smart Talent Management Strategies to Grow

1.  Explicitly Align Talent Management Strategies with the Business
Successful talent management strategies proactively help to accelerate business strategies.  Clear business strategies focus investments, decisions, resource allocations and efforts toward the company’s most important goals. Clear business priorities also set the talent management stage for:

  • Goal Setting – Each employee should understand what is expected and how they specifically contribute to the overall company objectives, what is needed to achieve the goals, how success will be measured, and who bears the responsibility for what.
  • Transparency and Accountability – When there is performance exposure and transparency throughout the organization, every employee 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 talent 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. Instead of reactive filling open requisitions, smart talent management strategies build internal and external talent pools by proactively developing, courting and building relationships with high-quality talent long before they are ready to apply.  With only 25% of the workforce actively looking for a new job at any given time, talent pools are a must to support high growth.

3.  Foster Collaboration and Develop Better Systems for Knowledge Sharing
The timely flow of information has a direct correlation to high performance.  Make information more readily available by setting up a process to ensure 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 rewards and recognition. 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.

The Bottom Line
Smart talent management strategies are about the people AND the business.  One cannot thrive without the other.  Is your talent management strategy focused on performance and anticipation?

To learn more about how to focus on the people AND the business, download Why Talent Is Surprisingly Only 1/3rd of the Recipe for Talent Management Success

Comments are closed.

LSA helped to meet the needs of my teams within a very narrow timeframe. My team walked away with highly useful management tools and practices. LSA saved us time in delivering the right solution for our specific needs.

Sandeep Kumar
Director, Software Engineering, EPG

LSA’s approach and ability to bring the best resources to eBay has been a great asset. They really focus on helping us succeed in any way they can and are very flexible in meeting our management and talent needs.

Mike Normant
Learning & Development

ebay

We partnered with LSA to pilot a customized behavioral interviewing program to help ensure that we continue to hire the best and brightest as we continue to rapidly scale. LSA’s ability to understand our business and our unique culture combined with their desire to ensure that the best practices framework truly fits our performance environment and is highly adopted by our people is a real blessing. Most other firms want to just ‘give you training.’ Not LSA, they are focused on helping me hit our hiring forecasts and attract A players.

Jennifer Remling
Director of Global Recruiting

AKQA

I highly recommend LSA Global to anyone who is looking to improve individual or organizational effectiveness through their top quality programs and broad range of expertise.

Greg Pappas
VP of Human Resources

The Managing Virtual Teams program was extremely valuable. Your consultant/ facilitator’s fundamental knowledge of Synopsys as a company provided an incredible base to build upon while tackling the complications of managing and working with globally distributed teams. My team walked away walked away with highly useful practices and tools. It was an excellent use of our time.

Debra Martucci
Vice President, Information Technology

LSA exceeded all my expectations. We interviewed 7 potential training and consulting partners and selected LSA due to their expertise, flexibility, and breadth and depth of solutions. We were able to construct a management training course from the modules most appropriate to our needs, and are able to provide additional training from their well developed portfolio of experts. Our managers galvanized as a team throughout the session and are better prepared for the rigors of a competitive market.

Mitch Mandich
CEO

Edify

Working with LSA Global has proven to be extremely valuable and worthwhile. LSA understands our business, has deep expertise in content areas, and tailors the programs to deliver great results. The facilitator was extremely knowledgeable about Working Globally with India and her energy and passion made the session interesting, fun, and enjoyable for all that attended. The participants walked away extremely pleased along with highly useful practices and tools. I would highly recommend LSA Global to any company that has partners or offices in India.

Glenn McGillivray
Human Resources Business Partner

Intuit

PalmSource has found our relationship with LSA extremely beneficial. We worked closely with LSA to customize the right Management Training Program solution to meet our unique business needs. LSA is a quality organization, one that I’d recommend to any company looking for a first class training and consulting partner.

Ken Boehm
Vice President of Human Resources

Here’s a token of my appreciation for ALL your efforts. I’m offering my most sincere appreciation, and it extends to all the folks who made our customized management development programs possible.

Susan Anderson
Workforce Planning Bureau

LSA has been a tremendous asset to my portfolio, both at my current company and my past company. As an HR leader, I am always looking for ways to find external resources that can provide a solution to our management training needs. LSA does that for me. Their solutions are presented in a much more leadership-oriented manner so as to be crisp, business relevant, and easy to apply right back on the job. I will continue to augment our programs using LSA solutions.

Ken Boehm
VP of Human Resources

“We turned to LSA to help us custom design and deliver a leadership and management development curriculum to help drive performance. They have done an excellent job diagnosing the business situation, designing an approach that fits our culture, and delivering a first class solution.”

Sally Buchannan
VP Human Resources

We have worked with LSA Global for our learning and development needs and have always had great success. They helped us recently with customized Management Workshops that we held for the second time. It was fantastic, and I would highly recommend LSA to anyone that is attempting to get immediate and impactful improvements.

Mary Johnston
HR Manager, BU Radiology Informatics

I had been working with LSA for many years with my prior company. Currently, I’m with a company who hadn’t done much basic management skills training. After identifying and presenting a program recently, our managers are excited and talking in the halls about the great experience. LSA saves us time in delivering the right training for our needs.

Phyllis Moracco
HR Director

The refreshing thing about LSA is that they focus on understanding our business situation and helping me succeed instead of selling a product. With over 150 experts, they are an invaluable resource that helps me deliver higher quality results faster. I recommend them to anyone looking to improve the performance of their workforce.

Stacie Rodgers
VP of Human Resources

Cutera

I have worked with other training companies and found it to be more of a seller/buyer relationship than one of matching the right expertise to our business issues. That’s what LSA does – ask the hard questions, listen, and understand our business needs. We receive the benefit of their expertise from assistance with personal development plans to enhancing team performance, to looking at enterprise-wide challenges. It’s all about helping our business succeed as we grow. Right now, LSA is providing great ideas, a fresh approach, and valuable guidance as we develop our management team and accelerate our client relationship management results.

Kristin Westland-Kaune
Director, Team Development

Evaluate your Performance

Toolkits

Toolkits

Download key published insights and tools from industry experts highlighting best practices in the areas of talent, strategy and culture.

More

Health Checks

Health Checks

Want to know how you stack up against leading organizations?  Receive a complimentary benchmarking analysis courtesy of an LSA Expert.

More

Whitepapers

Whitepapers

Get up to speed on timely solutions critical to your business. Published by LSA Experts based upon client feedback and key industry trends.

More

Methodology

Methodologies

First we identify the key metrics you want to improve. Then we assemble a dedicated team of elite experts who have successfully solved similar problems with similar clients.

More

Blogs

Stay up to do date with the latest information on how we help high growth companies align their culture and talent with strategy.

More

Case Studies

Client Case Studies

Real world consulting and training approaches from LSA projects, providing insights on how your company can outperform the competition.

More