Smart Talent Management Will Give Your Company an Edge
Human resource departments in leading companies focus on talent management. They excel at finding, hiring, and training talented people. They understand that without talented employees, a company won’t achieve optimal levels of success.
It doesn’t matter how well funded your business might be or how carefully constructed its business processes are. Neither does it matter how expansive its market share is or how technologically sophisticated its operations are. Without the right people on board, your business won’t be able to take full advantage of these resources.
Despite the obvious wisdom about the value of hiring the right people, not all human resource departments are able to find and engage high-performing employees.
Implement the following 4 talent management strategies to find the right people for your company:
1. Utilize a Good Talent Management System
Talent management is complex, and the use of the right software is the smart way to find, hire, and train the right people quickly and efficiently. However, there’s a diverse selection of top ranked talent management software available, each approaching talent management from a slightly different angle.
Take the time to research the differences between these software options. When you do, your human resource department is less likely to make an arbitrary selection that doesn’t provide you with all the features you need to acquire and engage talent.
2. Recruit Skilled Candidates
Sometimes human resource departments are not at all to blame for the poor quality of the candidates they hire. This is especially true if the work requires proficiency in science, technology, engineering, or mathematics (STEM). Many college graduates are not interested in any of these fields, and those that are may not be from high quality programs. Established companies who can offer better employment packages quickly absorb the small number of high quality graduates who are available.
One solution is to hire talent from Asia, where there is just the opposite problem. In Asia, there are too many graduates in STEM subjects with too few companies available in their home country to hire them.
3. Develop a Talent Pool from Within
A dynamic talent management program develops a talent pool within the organization itself. Build a foundation for this strategy by hiring people with the right attitude for entry level positions and then grooming them to take on more responsibility for more demanding positions. This, of course, will require your company to provide a variety of training programs to develop talent, ranging from mentoring programs to formal classroom training.
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4. Encourage a Friendly Corporate Culture
While your human resource department might be good at putting the right people in every position, it needs the organization to support its efforts. When company morale is low, employees become dissatisfied with their jobs. Talented people disengage from the culture and only do the bare minimum. Either that, or they leave for a company where they’ll have a better opportunity to further their career aspirations.
Lastly, in order to appreciate the distinction between a friendly and an unfriendly corporate culture, let’s take a look at Google as an example of a friendly corporate culture:
An article by Ben Slate in Beamery lists the reasons why the best and brightest people love working for Google:
- Employees are well paid.
- Google has a mission statement that inspires its employees.
- Employees feel they have creative license.
- Google encourages a team spirit by breaking projects into teams.
- The company strives to be transparent.
- Google provides free food that is fresh, organic, and plentiful.
- The Google campus offers amazing perks. For instance, there are outdoor mini-pools, slides, and a bowling lane.
Fortunately, there are many ways to create a friendly corporate culture that don’t require a large cash outlay. The first step, of course, is to identify the grievances that employees have with the current state of your company’s culture. Next, brainstorm possible solutions for changing that culture from negative to positive, or from bland to interesting. Then, recognize that developing a positive corporate culture is an ongoing, organic process, and that it will take time to fine tune it.
Ultimately, commit to developing a positive corporate culture where talent management will be a breeze.