Planning

Like in any process with a set outcome, planning is the first step in the process of talent management. It involves the following identifying where the gaps lie – the human capital requirement, formulating job descriptions for the necessary key roles to help guide sourcing and selection and developing a workforce plan for recruitment initiatives.

Attracting

Based on the plan, the natural next step is to decide whether the talent requirements should be filled in from within the organization or from external sources. Either way, the process would involve attracting a healthy flow of applicants. The usual external sources include job portals, social network, and referrals.

Selecting

This involves using a string of tests and checks to find the right match for the job – the ideal person-organization fit. Written tests, interviews, group discussions and psychometric testing along with an in-depth analysis of all available information on the candidate on public access platforms help in gauging an all-rounded picture of the person.

Developing

Quite a few organizations today operate on the idea of hiring for attitude and training for skills. This makes sense because while you would want a predisposition to certain skill-sets, it is the person that you are hiring and not the CV. Developing employees to help them grow with the organization and training them for the expertise needed to contribute to business success also builds loyalty and improves employee engagement.

Retaining

For any organization to be truly successful, sustainably, talent needs to be retained effectively. Most organizations try to retain their best talent through promotions and increments, offering opportunities for growth, encouraging involvement in special projects and decision-making, training for more evolved roles and rewards and recognition programs.

Transitioning

Effective talent management focuses on a collective transformation and evolution of the organization through the growth of individual employees. This involves making each employee feel that they are a part of a bigger whole. Providing retirement benefits, conducting exit interviews and effective succession planning might seem like unrelated career points but they are all transition tools that enable the shared journey.

Job Descriptions

A well-informed, detailed job description helps the sourcer, the sourcing software, and the candidate understand the job-role better. Generic job descriptions only serve to confuse all parties involved in the talent acquisition process and lead to a wave of irrelevant applications.

Person organization fit

An employee that does not fit into the organizational culture can neither be the happiest employee nor the most sustainably productive one. While the culture can be difficult to define in words, it is prevalent in actions and quite easy to understand whether a candidate would be a good fit or not. Personal and organizational values need to have a certain degree of overlap for any employee to feel at home within the organization.

Collaborate Coach Evolve

An important strategy to make talent management more effective involves creating a culture of coaching, mentoring (even reverse mentoring) and collaboration. Constructive feedback goes a long way when it comes to helping employees evolve and develop their skills and expertise. Managing talent is thus also about preparing them for the future of the organization – to be ready for changes down the path and to be able to rely on each other.

Opportunities Improvement

Managing talent needs to be put in the context of the future that the organization has envisioned for itself. Thus, employees need to be equipped with the right tools to be able to maximize their own potential. For the continuous improvement of the organization, there needs to be the scope and opportunities for the continuous development of its employees. Moreover, this ensures that the cumulative skills within the organization is updated, upgraded and upscaled.

Talent Management

Over the years, there have been multiple models made for talent management that have been created b organization who have felt that they have finally cracked the code on the perfect model. The thing with talent management, however, is that it needs to morph to suit the latest talent trends, digital disruptions, and employee expectations. The following diagram is that of the integrated talent management model which appears to be the most relevant one today.

Reward and Recognize Right

The process of rewards and recognition forms an important part of the strategy to motivate, engage and manage employees better. This goes beyond financial rewards and bonus packages. Studies point towards the fact that employees often want R&R schemes that motivate them with “prizes” that are most relevant to them as individuals. This is a great opportunity for organizations to show their employees how much they care for them as persons and as integral aspects of the organizational machinery.