Better Talent Management Matters
Recent research by Bersin found that organizations with better talent management strategies:
Our own organizational alignment research found that better talent management accounts for 29% of the difference between high and low performing companies in terms of revenue, profits and employee engagement.
The Definition of Better Talent Management
We define better talent management simply as the ability to attract, develop, engage and retain talent in a way that aligns with your culture and aligns with your business strategy.
The Goal of Better Talent Management
We believe the goal of better talent management is to create and sustain organizational excellence through people – specifically by attracting, developing, engaging and retaining the top talent that makes sense for your specific business strategy and unique organizational culture.
When you manage your talent effectively, it can differentiate your company from the competition in both good and bad times; when managed ineffectively, inconsistent and unaligned talent management approaches can grind your company to a halt.
5 Best Practice Tips for Better Talent Management
Here are five best practices for better talent management and the opportunity to leap ahead of your competition through your people:
1. Alignment of Individual Goals with Your Overall Business Strategy
Assuming you have crafted a clear business strategy that is well understood and agreed upon throughout your organization, translate the overall strategy into the critical few actions needed at every level and the behaviors needed by every employee for the plan to succeed. When employees recognize that what they do and how well they do it supports the goals of the organization, they are more engaged in their work.
2. Ongoing, Meaningful Feedback
A critical aspect of better talent management is managing performance. The best companies have learned that the annual performance review is far less effective than more frequent, timely feedback delivered throughout the year from peers, customers, partners, direct reports, stakeholders and leadership.
3. Development Opportunities
Employees who have ample opportunities to learn and grow know that their company values them and is willing to invest in their continuous learning and career development. Development plays a huge role in employee engagement and in effective talent management.
4. Helpful Technology
Multiple options now exist to support HR in their role of optimizing the effectiveness of employees. From help in recruiting the right talent, identifying skill gaps, monitoring progress against identified behavioral goals, and addressing development needs, technology is a tool that can greatly benefit HR if implemented correctly.
5. A Workable Succession Plan
Don’t let your company be hampered by high level, key vacancies. Continually identify your most strategic roles, review who your most critical players are and be sure you have qualified candidates when you need them. Identify and develop your high potentials so when positions open up, you can fill them.
The Bottom Line
For companies that rely on their people to succeed, business results depend on designing and implementing a better talent management strategy.
To learn more about better talent management, download 5 Key Succession Planning Trends and Lessons from the Field
We partnered with LSA Global to help us invest in our people in the areas of performance coaching, diversity, and inclusion. They focused on helping us succeed and were very flexible in meeting our specific needs. LSA Global exceeded my expectations from a speed, quality, and value standpoint. I would recommend LSA Global to anyone looking for a true business partner.
Director, Human Resources
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.
Director, Team Development
We have been able to utilize LSA’s extensive network of top-notch resources to leverage our investment in employee development. The result has been the cost effective and highly efficient delivery of quality educational and management training programs.
Vice President, Human Resources
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.
LSA’s Employee Engagement Consulting and Survey work has provided critical visibility into: how well our people are holding up under the general economic environment, as well as, the specific challenges that face biotechnology companies in their efforts to discover and develop new medicines; their level of alignment and commitment to XOMA’s Vision and mission critical strategies; how leadership practices and management systems support an environment that engender commitment, and the specific actions that our leaders can take to improve on areas that are important to our people. I highly recommend LSA’s employee engagement solutions.
Vice President, HR and IT
We recently contacted LSA Global to assist us with a unique training request. We gave LSA a very short deadline and LSA custom designed a training program to meet our exact requirements within the limited time allotted to them. We found their facilitator to be well versed in the subject matter and very credible; the design provided practical and valuable information to our team of managers. I highly recommend LSA Global, particularly in the area of management training.
Julaine K. Souza
Senior Vice President
VNUS Medical has been very pleased with the effective management development programs that LSA Global has delivered for us over the last four years. The programs have been universally facilitated by experienced and best in class instructors. The knowledge gained by our management team has been put into practice very quickly. VNUS is very happy to be working in partnership with LSA because they consistently deliver excellent programs that receive exceptional feedback from our management team.
Cindee Van Vleck
Director Human Resources
Thank you to LSA Global for their partnership and support in helping us to design and roll-out our valuable management development training program. I personally have partnered with LSA Global at four of my previous companies. It continues to be a delight working with LSA. We look forward to partnering with them at Blackhawk Networks for future training and consulting needs.
VP Human Resources
LSA Global’s consultant brought a fresh perspective to our behavioral based interviewing strategy for two key executive positions we needed to fill, and their consultant helped us develop questions that produced a much deeper understanding of candidates’ capabilities. I am confident that the two new executives joining our organization have the right skills to add significant value. Throughout the process LSA was also very responsive in dealing with short lead time requests.
Because of the unique nature of our business, Excel is a core application in our accounting organization. After three attempts to find an Excel consultant who is capable of helping our finance team integrate advanced applications into our work processes we found LSA and Alex. He was not only a “Real” Excel expert but was masterful in helping us identify where to use Excel applications in our processes to increase our group’s efficiency.
SPO Partners & Co
Kim Silva, CFO
Congratulations on your pro-activity in establishing this program and developing such an effective New Employee Orientation course.
President and Chief Executive Office
SeaTel has found our partnership with LSA Global to be very valuable and beneficial. We turned to LSA to customize a supervisory/leadership solution to meet our needs. LSA delivered a customized top quality solution. I’d recommend LSA Global to any company looking for a best-in-class training and consulting partner.
For our go to training outsourcing partner, LSA provides exactly what we want. As always, they deliver outstanding work!
Director, Organizational Excellence & Development
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.
Over the years, both at 3Com and now at Redback, I’ve found LSA Global to be a valuable resource. The recent compliance program that they delivered for Redback’s executive and management team was the right solution, of the highest of quality, and customized to our business and culture. I would highly recommend LSA to any company looking for top quality solutions.
Vice President of Human Resources
Hyperion has a commitment to lifelong learning. LSA helps us provide the right business sales training, management training programs, and leadership development programs at the right time to meet the needs of both individuals and departments. I especially appreciate their ability to listen to my needs and recommend the appropriate facilitators, solutions and content.
Senior Project Manager
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