5 Tips for Better Talent Management

Better Talent Management by choosing well

Better Talent Management Matters
Recent research by Bersin found that organizations with better talent management strategies:

  • Achieve 26% more revenue per employee
  • Have 41% lower turnover

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

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Intuit

We engaged LSA to design and deliver a 6-month custom executive coaching program for a group of our key leaders. The focus of the program was to help a core group of senior leaders to leverage previous investments in management training, to ensure the engagement and retention of key employees, and to push critical strategic initiatives forward. Even with the high expectations of our senior people, LSA has completely exceeded our expectations. I would recommend them to anyone looking to create and implement a custom coaching methodology using proven tools to drive true change.

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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.

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AKQA

“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

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.

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LSA helped change our entire culture around meetings, making them more effective and efficient, thus enabling us to concentrate on driving more business.

Terry Wassman
VP of Human Resources

What a personal and professional pleasure it has been to Partner with LSA. They are truly a strategic partner with Wyse. For more than 5 years, LSA has been engaged in delivering various training and development solutions for Wyse, from custom on-site programs targeting specific core competencies, to working individually with clients to build job skills, and offering invaluable services to me and my team as we continue to build our learning programs. LSA’s representatives do more than sell a product, they offer a full service solution: they understand our business, our strategic initiatives, and the needs of our customers.

Jeff Rangel
Director of HR

What a refreshing change from the half-baked psycho-babble you normally get from training and consulting organizations. LSA gives you the practical and results-oriented assistance you need to define and reach your goal.  They provide a results driven plan – not just a temporary fix. They are great to work with, and even more importantly, they “get it!”

David Fiano
Vice President Human Resources

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

I’ve been associated with LSA for the last 8 years and have found them to be an extremely professional, well managed full service training organization. Since working with LSA, I’ve participated in a number of solutions ranging from Performance Management to Assertiveness Training – I’ve found that the quality of the resources is superior. They are well prepared and have definitely done a considerable amount of pre-work in order to customize our culture and business into the total learning experience – making it most beneficial for our employees.

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Roche

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Senior Vice President

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