The Talent Management Recipe for Success is elusive for many high growth organizations. The goal of talent management is to create and sustain organizational excellence through people—by attracting, developing, engaging and retaining the top talent that makes sense for your business strategy and unique organizational culture.
Done right, effective talent management can differentiate your company from the competition in both good and bad times. Done poorly, inconsistent and unaligned talent management methodologies can grind your company to a halt.
If you are looking for a sustainable and profitable talent management recipe for success to help grow your business, there are three critical factors that need to be in place. And all three need to be inextricably connected and aligned.
Successful leaders know that talent management plans cannot succeed unless they are purposefully linked to the most pressing priorities of the business. Fundamentally, strategy is about making hard choices and focusing only on the areas with the greatest leverage. If your strategy contains more than five major priorities, agree upon what really matters most. Otherwise, your strategy is not compelling enough to focus the troops.
Once your strategy is clear enough to act, designing a high performance culture to execute it provides the glue necessary for the talent strategy to stick. It takes more than a winning business strategy to beat your competition. It also takes a high performing organizational culture that supports and accelerates the strategy.
The purpose of creating a differentiated talent management strategy is to drive organizational excellence.
Organizations can ill afford to hire wrong or to lose current players that matter. With your strategy clear and your organizational culture aligned, building a high performing workforce has four main building blocks:
If you want your talent management strategy to create organizational excellence, start with the business strategy and the organizational culture. Then you can confidently create an aligned plan to meaningfully attract, develop, engage and retain top talent. That is the Talent Management Recipe for Success.
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