Talent Management Strategy Update Urgently Needed

For many years there was no any significant difference between the strategic talent management and the well-defined recruitment strategy. Most organizations did not make any strategic decision about managing the life cycle of the workforce. Most employees were hired for a job, and they were left alone to find another job opportunity inside or outside the business. Human Resources played no proactive role in the process. It was just the manager who was supposed to manage the process of acquiring new skills and competencies within his or her team. This traditional approach does not work anymore. Nowadays, the talent management strategy is an essential part of modern HR Management practices.

Employees generally love organizations that invest into the meaningful development of the workforce. Each man likes to choose the way how to grow and gain new skills and capabilities. He or she wants to learn new things and they want to enrich their thinking about responsibilities. Everyone wants to become more valuable to the organization, and he or she wants to be invited to and heard during strategic sessions. No one intends to stay as the junior analyst when there is the opportunity to become the senior expert in the functional area. That is the basic idea behind the talent management strategy.

Moreover, organizations face enormous staffing and recruitment issues. In most cases, it is not the business who make the final decision. It is the job candidate or the employee. They can refuse the offer because it does not match with their personal career plans. Just to make it more difficult, it will become worse and worse. The position of Human Resources will even worsen shortly. This makes a great business case for the update of the talent management strategy.

Talent Management Strategy Update
Talent Management Strategy Update

The visible and impactful update is not just about publishing and distributing a new talent management handbook. It is about the complete redesign of the approach of the organization. It is about embedding the talent management and management into a company┬┤s DNA. Each and every manager has to invest a significant proportion of the working time into coaching and mentoring sessions with all direct reports. All line managers have to be trained to be valuable development partners for employees. They have to collaborate with Human Resources to identify all best options across departments, branches, cities and even continents.

First, Human Resources has to implement robust predictive analytics tools in Talent Management. The global system generates a lot of data, and HR Managers have to access required information instantly. The HR technical solutions have to produce early warning automatically because most HR leaders are blind when it comes to predicting shortages of talents. They always spot the most demanded skills and capabilities. However, they do not have any data about specific market niches.

The HR team has to understand what is the current status of the organization and what are the principal dangers in the future. A competitive business always finds best talents on the market and matches them with the internal needs and requirements.

Second, a new recruitment strategy needs to reflect requirements of the competitive and performance driven business. The staffing procedures have to become proactive. Currently, we usually post a vacancy, and we just wait for job applications. The driving idea behind the active Talent Acquisition is different. HR should not wait for talents to come. HR has to actively scan the job market and offer all the best talents to line managers. They should identify a challenging opportunity for a highly motivated person.

On the other hand, Human Resources has to make sure that it scan the market a clever way. It cannot attract potential candidates and have no offer for most of them in the end. That is the reason to use the predictive analytics. It provides clear guidance to HR recruiters which skills and competencies are the most promising ones.

Third, Human Resources has to strengthen the role of the succession planning. Top Talents come and leave. No organization has resources to keep them all. A great succession plan is the essential component of the talent development. It clearly navigates employees to gain most promising skills, capabilities, and competencies. It provides no guarantee, but it increases the chance of being promoted at the right time. It usually comes sooner than later.

A succession planning should not be strict and administrative; it has to play the role of the regular organizational health check. Managers have to feel no worries to reflect an actual status of their teams. They should clearly indicate strengths and weaknesses of particular teams. They offer best talents to other managers because they can enrich the team, as well. That is the core purpose of the tool.

Fourth, the updated talent management strategy has to cover all employees. It is not just about the recruitment and new hires. Also, the intensive development driven by the organization can be strictly focused on selected groups of key employees. However, the snapshot of the business has to be clearly captured. Employees have to understand how the system works. They have to accept that there are certain rules to be included in the selected group. Otherwise, the turnover will quickly indicate that the solution is not efficient and working.