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Talent Management
The document discusses strategies for talent management, including recruiting, nurturing, and retaining talent. It recommends creating magnetism through an appealing organizational brand and effective people practices like coaching, mentoring, and personalized development plans. When recruiting, organizations should market themselves and look beyond traditional sources. Nurturing involves strategic leadership, developing a strong culture and employee voice. Retention relies on employee satisfaction, engagement, work-life balance, and seeing the organization as a good employer. The document provides tips for improving talent management programs and getting buy-in from different audiences. It concludes by asking questions about whether the right talent strategies and metrics are being used.
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Talent Management
- 1. Talent Management How toRecruit, Nurture and Retain your people
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- 3. Think of RecruitingTalent as Being Like You need to create the right degree of magnetism with: • The Organisation’s Brand • Effective People Practices
- 4. Your Brand • Presentyour organisations culture as it really is, rather than some idealised projection that will ultimately cause high attrition rates and damage the brand
- 5. People Practices Effective management Sound Interesting & recruitment rewarding Strategies work People Coaching and Practices Personalised development Mentoring plans Networking Ethics and and CSR Collaboration
- 6. Recruitment Strategies Old Reality New Reality Recruiting is like purchasing Recruiting is like sales and marketing: organisation is the product Recruit from traditional sources Look at the diverse pools of talent and be prepared to train and develop People accept offers People demand much more Recruit to fill today’s positions Hunt for talent all the time an plan much farther ahead
- 7. Top Drivers toAttract Talent Competitive base pay Work life balance Challenging work Career advancement opportunities Salary linked to individual performance
- 8. Nurture A strong A strong strategic strategic leadership narrative An employee Integrity voice
- 9. The VIDI Culture V I D I Engaging Valued Involved Developed Inspired Talent
- 10. Retain Organisationretains people with necessary skills Satisfaction with the organisation’s decision My manger understands what motivates me An ability to balance my work- personal life The reputation of the organisation as a good employer
- 11. Six mistakes thatmay doom your talent investment Equate current Assume that high Delegate down the high performance potentials are management of with future highly engaged top talent potential Shield rising stars Expect star Fail to link stars to from early employees to your corporate derailment share the pain strategy
- 12. Action on Retention Engagement Social Interaction Growth Test Opportunities Relationship Feedback Work-life balance Job design Communication Compensation Recognition Package Define Volunteers Equity expectations
- 13. Creating a TalentRetention Culture Promote from within & VIDI work-life Framework balance Effective teams Engagement is & Mutual expected respect Expertise & Risk taking Competence Respected Leadership & Openness
- 14. 10 ways toimprove your Talent Management 1. Avoid metrics for the sake of metrics 2. Establish a process for deciding what you consider success 3. Seek to be able to answer the question 4. Make sure chosen metrics drive intended action 5. Pay particular attention to levels of employee engagement and ways to measure it, not just once but regularly
- 15. 10 ways toimprove your Talent Management 6. Narrow down the talent metrics to a manageable few – not more then 2 or 3 7. Use a metric to show whether succession planning within your own area of influence enables mainly, internal recruitment 8. Consider using a metric showing employee retention rates 9. Benchmark your local retention rates 10. Track talent development and performance to make smart decisions about talent
- 16. How to getthe message to Different Audiences Different Audiences Different Approaches High Potentials Turn your talk into questions Board levels Talk about a story Line managers Talk a bout the processes Front line staff Talk about engagement Other stakeholder, such as Talk about unlocking potential shareholders
- 17. Are you askingthe right questions about your Talent Management Do your recruitment programmes attract your future managers Do you know which employees are ready for management positions Can we identify inspirational or potentially inspirational leaders What will be our staffing needs in five years time Which employees are at risk of leaving, what can we do to keep them Do we have the right skills mix to achieve our goals What will our future leaders need in the way of specific skills and attributes Should we limit development to a few high potentials or spread it more widely What is the current attrition rate in the organisation and what is it costing What is the level of engagement in the organisation How do we raise engagement levels to attract maximum discretionary effort Does our remuneration strategy actively support talent What metrics do we rely on to manage our talent
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