Whitepaper Talent Management Best Practices For 2011


Published on

10 Talent Management Best Practices

  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

Whitepaper Talent Management Best Practices For 2011

  1. 1. 10 Talent Management Best Practicesfor 2011 The success of your organization really depends on one key asset: employees. Your executives and hiring managers rely on you to deliver value in the form of quality talent. Doing so means making your organization rise to the top and be the place where people want to work. Experts say that 70% of your companys value is based on the skills, experience, and performance of your workforce. You need to find highly-qualified candidates, get the best from your people, identify and retain top performers, encourage ongoing learning, and keep employees engaged. Talent management is a strategy that enables you to effectively drive results and gain a competitive advantage leveraging your people. Below are ten talent management best practices for 2011: Move Recruiting Online. Begin with a robust careers web site for a central source of candidate information that can be used by hiring managers and the HR team. Smart screening automates ranking and skills assessments to select the most qualified candidates and reduce time to hire. By creating candidate profiles, you can easily track everything from email correspondence to interview results to job offers. Source Smarter. Smart sourcing enables you to post opportunities to your career sites then expand your search to social networks and hundreds of free and paid job boards. Automate the posting process to source the most qualified candidates faster. Then use predictive ranking to optimize your job board spend. Extend Your Reach with Social Recruiting. Go beyond job boards and career fairs. In fact, go beyond active job seekers to reach candidates who may not even realize they’re looking. Post open positions to major social media sites like Facebook™, Twitter™, LinkedIn™, and more so your organization gets in front of millions of high-quality passive job seekers with the right skills, experience, and certifications. Get Employees Up to Speed Faster. Nearly 15% of new employees consider quitting after the first day because of a poor initial experience. After the time and investment you’ve spent to find and hire them, you want to ensure that those employees are engaged and feel valued as soon as they begin employment with your company. Onboarding is a set of standard, repeatable processes that reduce costs and delivers an improved new hire experience as well as immediate productivity. Align Goals and Objectives Across Your Organization. To ensure that your workforce is performing at the highest levels, you need to make sure that everyone is working on the right goals. However, this is difficult to do if your organization has not established clear objectives or if employees don’t understand them. Encourage ongoing communication on individual goals and how they align with organizational objectives—this not only engages employees but ensures that everyone is on the same page as priorities shift. taleo.com 1-877-818-2536 Business Edition
  2. 2. Transform Performance Reviews. Cumbersome, disjointed, or paper-based performance reviews are often view as a dreaded annual exercise. When performance reviews are automated and integrated with individual and organizational goals, the process is transformed and everyone benefits. All information is securely contained online with appropriate access by role. Employees feel valued, managers get a clear line of sight into business objectives, and executives know exactly how the workforce is performing.Implement Ongoing Learning. With ongoing learning, individuals not only build their desired career paths but your company also benefits when education is aligned with organizational goals. You can identify skills gaps necessary to reach those goals and ensure compliance for specific positions or certifications needed.Gain Insight into Your Workforce. More than 70% of business costs are spent on your employees. You need concrete data like head count, turn over, cost per hire, revenue per full-time employee (FTE) to make intelligent decisions that support organizational growth. Immediate visibility into the historical and real-time performance of your workforce means you can manage your most valuable asset effectively.Create a Pay-for-Performance Culture. Using performance metrics, you can develop a pay-for-performance culture that rewards employees for meeting key objectives and reduces turn over. Use tools to assign compensation cycles that fit your budget and meet your guidelines for merit and bonus allocation. Managers can distribute compensation to employees, submit plans for approval, and complete these tasks in a more efficient and timely manner.Build a Leadership Pipeline. Identifying, engaging, and retaining top performers and high potentials are all important activities to avoid business disruptions at critical positions. A succession plan is the key to building a leadership pipeline. Build a talent pool from internal and external sources by linking your recruiting and succession planning processes. Then implement a retention strategy for your top performers and offer actionable career development paths. taleo.com 1-877-818-2536 Business Edition