Top Talent Management Practices

Posted on by Leave a Comment

Much of your company’s value flows from the skills, experience, and performance of your workforce. Recruiting highly-qualified candidates is an important aspect to the overall talent development but your talent strategies shouldn’t stop there. Once recruits become a part of your organization, getting the best from them, identifying and retaining top performers, encouraging learning and development, and keeping employees engaged are all important aspects to ensure the best utilization of talent. A talent management strategy is an important tool that allows you to effectively achieve results and gain a competitive advantage by leveraging your people.

We believe the following are some of the top talent management practices that will help you make the most of the talent you have and hire.

Plan ahead

It is critical to plan ahead before you recruit by developing a workforce plan and staffing plan. These don’t have to be elaborate or complicated plans, in fact it is helpful to design them to the uniqueness of your own business or industry model.  Here are four essential ingredients to effectively plan ahead: 

  1. identify your talent requirements going forward;
  2. identify the talent potential internally;
  3. identify the talent shortfall (difference between 1 and 2); and
  4. plan for when/how any gaps will be filled. 

This will help to save you and your organization many dollars and put in place a strong and productive team for when you need it most.

Gain insight into your workforce

More than 70% of business costs are typically employee related. Having solid data pertaining to head count, turn over, cost per hire, revenue per full-time employee and performance metrics is vital to making intelligent planning and hiring decisions. It is imperative to know what your employees are thinking, and their level of engagement with their jobs and the organization.

Know your talent management strengths and challenges

It is important that your management team is aware of your talent management strategies. We suggest that you review them as a team annually, this will help to identify the best opportunities for attracting and retaining talented people. This will also help your current team to feel empowered and invested in your organizational goals. We suggest when establishing your talent strategy priorities to focus on the top two or three each year so that you can manage attainable goals.

Build a leadership pipeline

A succession plan is the key to building the leadership pipeline. This can be done through identifying, engaging, and retaining top performers and high potentials. To avoid business disruptions during critical points and increase your ability to retain your best talent, build a talent pool from internal and external sources by linking the recruiting and succession planning processes. Then implement a retention strategy for your top performers and offer actionable career development paths.

Recruit the right people

Identifying your recruitment needs in advance is imperative to prevent simply recruiting “warm bodies” on short notice.  Being proactive and taking the time to hire the RIGHT people will pay dividends in the retention, productivity, and performance of employees.  As well, your selection process should include three critical assessment criteria – cultural fit (behaviors), expertise (competencies to succeed), and capacity to be developed for both the current position and future potential.

Extend your reach with social recruiting

Use the same principles that your organization uses for marketing your product or service when advertising for talent.  Often, your best candidates are not actively looking for a job. Post open positions to major social media sites like LinkedIn and Twitter so your organization gets in front of millions of high-quality passive job seekers with the right skills, experience, and certifications.

 

Guest author, Dana Walton, is an associate at Future Focus. She has expertise in Marketing, Event Management, Social Media Marketing, Market Research, and Fund Raising.

Swatting a Fly with a Sledgehammer

Posted on by Leave a Comment

A colleague recently described the following situation to me:   Public Domain, Wikimedia Commons While working with the management team of a small, project-based company, he’s been coaching the new senior project manager. She’s highly qualified and very enthusiastic. So enthusiastic, in fact, that she’s creating a comprehensive project process that will cover all aspects of the business from initial enquiry to post-project debrief and customer follow up. Each step is documented in minute detail with multiple accompanying forms (paper and online) to be completed and/or updated throughout the life of the project. …

Never Say Never – When a Key Employee Leaves

Posted on by Leave a Comment

Tsunami Zone by Coco and Jo, Flikr When a key employee decides it’s time to pursue different interests and ambitions, it generates ripples in an organization. If that person takes a lot of organizational knowledge out the door, those ripples can morph into a tsunami. As leaders, we can do everything possible to keep our best talent—provide onsite fitness centers, unlimited vacation, a clear path for growth, insightful leadership and more—and some people will still choose to leave to achieve their personal goals. Rather than railing against an immutable reality, (employee turnover is …

Managing Employee Expectations - Part 2

Posted on by Leave a Comment

Last week we published Managing Employee Expectations - Part 1 from guest author, David Drennan. Today's post complete's the picture. Managing Negative Expectations No-one likes to communicate bad news, but sometimes it has to be done. Unlike managing expectations about positive news, it’s a situation that needs quite different treatment if you're going to manage expectations effectively. Generally, when people have been expecting some negative event in their lives, anything better than what was expected will bring feelings of relief. I well remember in my early thirties having a consistent pain in my stomach that convinced …

Managing Employee Expectations - Part 1

Posted on by Leave a Comment

A few years ago on the ‘Britain’s Got Talent’ TV show, a somewhat frumpy lady marched on stage to conduct an audition in front of a large theatre audience and three sceptical judges. The judges rolled their eyes when, although already 47, she said she wanted to become a ‘professional singer’, but she had never had the right opportunity. She thought she could become like Elaine Paige, the well-known singing star. More painful looks and rolling of eyes from both the judges and the audience. But Susan Boyle went ahead, and started to sing &lsquo …

Talent Isn’t Everything

Posted on by Leave a Comment

You can’t fix a broken situation by hiring better talent. There, I said it—and it feels almost blasphemous. But we’ve all seen great hires step into a dysfunctional environment and gradually become part of the existing (dis)order. As much as we hope to change organizations by hiring great people, the fact remains that existing conditions just carry too much weight.  Photo credit: Bksimonb, Wikimedia Commons This is not a new phenomenon. One of the greatest “strengths” of the Han Chinese of Medieval China was their ability to absorb and assimilate …

Continuously Improving Onboarding

Posted on by Leave a Comment

Cooperation by Marina del Castell, Flickr Onboarding is a critical component in the successful integration of new hires and can have a great impact on employee satisfaction and retention. For that reason, we prioritize it at TribeHR and have developed a continuous improvement approach to onboarding that is everyone’s responsibility. In a previous blog post I referenced this process as follows: Since we also ask new hires to identify something they can improve in the on-boarding process within the first 30 days (and then improve it), everyone is collectively invested in enhancing the on-boarding experience for new hires. This …

Twenty-one Questions for Great One-on-One Meetings.

Posted on by Leave a Comment

If you believe, as we do, that one-on-one meetings are still the best way to build strong working relationships with everyone on your team, you’ll want to make them a priority. Of course, when you’re distracted or struggling to shift focus from other responsibilities, it can be a challenge to get the conversation started. Photo by Sonny Abesamis, Flickr Socates said "“My way toward the truth is to ask the right questions.” Confuscious clearly believed in the power of good questions too, having written: “The man who asks a question is a fool …

One-on-Ones: Making them Work

Posted on by Leave a Comment

We’re a technology company. We create software. And the heart of our software is people: the people who develop it, sell it, support it and use it. Our objective is not to replace people with technology or to build technology barriers between people—the opposite in fact. Our goal is to enhance workplace relationships by making work easier, more connected and more enjoyable for everyone. Developing and maintaining those workplace relationships is one of our top priorities. Photo by ashraful kadir, To make sure it happens, we’ve developed the following best practices for one-on-one meetings. …

3 Things HR Can Learn from Great Customer Service

Posted on by Leave a Comment

More than anything else, great customer service is about respect: respect for the customer as an individual,  respect for the customer’s time and respect for the customer’s point of view—even when it seems off base. It’s Not About You Variations of the statement: “Nobody cares how much you know, until they know how much you care.” have been attributed to Theodore Roosevelt and John C. Maxwell, among others. This phrase has been used time and again to illustrate a fundamental principle in leadership, sales, and customer service. The same …

Next Page

Experience TribeHR for Yourself
Contact us to schedule a demo of TribeHR.

Book A Demo
The Latest from Workplace Tribes
Group Dynamics: The Roles People Play (Part 2 of 3) May 26, 2015
Group Dynamics The Roles People Play (Part 1 of 3) May 21, 2015
7 Tips for Reducing Pre-Vacation Stress May 19, 2015
3 Ways to Re-Shape Your Reality at Work May 14, 2015
Timely Feedback: Every Day is Mothers’ Day May 12, 2015
 
Mental Health: Are You Aware? May 07, 2015
When an Employee is in Denial May 05, 2015
What Leaders Do April 30, 2015
Connecting the Dots Between HCM and Financial Performance April 28, 2015
SuiteWorld Is All About Empowering People and People Power April 23, 2015