TALENT MANAGEMENT SERVICES
Talent management can be defined as the process of attracting and maturity highly skilled employees, integrating and maturity highly skilled employees, integrating new employees, and developing and retaining current employees to meet the current and future business objectives.
Talent management practices have evolved over the years to cater to people-specific trends much like all other aspects of work, and have changed in fast strides over the last few years. Strategic talent management is a necessity in today’s hyper-change environment.
WHAT IS TALENT MANAGEMENT?
Talent management is defined as the methodically organized, strategic process of getting the right employee onboard and helping them through growing to their optimal capabilities in order to achieve organizational goals and objectives. It simply means building and maintaining a workforce to achieve your organizational goals.
Talent Management Features
- Innovative contribution capacity not only through forecasting the market, but also in creating it.
- Ability to choose a place of work where there is an opportunity for training, coaching and talent development.
- Choosing a working environment that encourages experience sharing and network development.
- The ability to work under stress, deal with multiple issues during hard times and also to grow stronger because of such periods.
ADVANTAGES OF TALENT MANAGEMENT TO YOUR ORGANIZATION
1. Better hiring
A resourcing and talent management system simplifies the hiring process for employers and employees alike. It lets the post the exact requirements in the job descriptions in order to find the right fit in a shorter amount of time. It saves time because it helps in the selection of only the best people for the job.
2. Employee growth are being improve on a daily basis
As an employer, you are not just concerned with your work being done, but also in the personal growth of your employees as well. Investing in a good talent management system helps you achieve this. By giving room for their growth, they feel motivated and secured to give back to your company, helping them become better professionals.
A talent management and succession planning framework helps develop a proper training and development strategy for the company.
3. Retain the best Employees
Having a good team in place, it is important that you retain them for a longer time for the growth of your organization. A good talent management strategy will help you reduce attrition and plan the development of the employees.
Retaining productive employees helps nurture better stakeholders and leaders in the organization. This includes employee incentives, training and development initiatives and other strategic measures. Better hiring strategies can also ensure that firm employs and manages right staff and stays ahead of the competition.
BENEFITS FOR ORGANIZATION
The under listed points explains how talent management can be an advantage for organizations
- Enhances organizational productivity and ability to compete effectively in a complex and dynamic environment to achieve reasonable growth.
- Helps in hiring quality and qualify employees.
- Establishes better match between jobs and skills.
- Employee are trained and retained thereby reducing the cost of carrying out new recruitment exercise.
- It a means of knowing and understanding the employees better.
- Helps in keeping employees engaged constructively.
- Effective use of available labor hours.
- Future leaders are being develop in the process of training within the organization.
- Helps in evaluating employee’s readiness to take up new roles.
BENEFIT FOR EMPLOYEES
The under listed points explain how Talent Management can be beneficial for employees
- Willingness to work with the organization for a long-term period of time.
- It result in persistent and higher productivity of employees.
- Keeps the employees motivated which helps in career development.
- Helps the employees get job satisfaction from their work.
Thus, talent management can be beneficial for both employers as well as individual employees.
BUSINESS CARDINAL TALENT MANAGEMENT PROCESS
The talent management process we implement at Business Cardinal consists of the ability of managing, competency and power of working employees with an organization directly or indirectly. The key steps in the process of managing talent effectively that we implement are:
- Planning: The first step we implement in the process of talent management is planning. This has to do with the process of 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. The talent pools that need to be tapped into must be identified in advance to keep the process as smooth and efficient as possible. This is where the kind of employer brand that the organization has built for itself, comes into play because that decides the quality of applications that come in.
- 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. Today there are software and AI-enabled solutions that recruiters can use to skim through a vast population of CVs to focus on the most suitable options and to find the ideal match.
- 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. This begins with an effective onboarding program to help the employee settle into the new role, followed by providing ample opportunities for enhancing the skills, aptitude and proficiency while also enabling growth through counseling, coaching, mentoring and job-rotation schemes.
- 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.
TALENT MANAGEMENT MODEL
Over the years, there have been multiple models made for talent management that have been created by 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 primary components of the model are:
- Acquire – Employer branding, recruitment, onboarding
- Assess – Talent analytics, succession planning and assessments
- Develop – Workforce planning, culture at work, engagement and retention practices
- Deploy – Goal alignment, career-path planning, learning and development, and performance management
This structure of components is cyclical and goes on in a sustained loop while taking onto consideration the internal climate within the organization and the external environment in which it operates.
How can an organization ensure that this model is put to the best use? The following graphic enumerates the things that need to be kept in mind. The point to be kept in mind here is that no model of something as dynamic as talent management is writ in stone. It needs to be able to adapt to the changing needs of the organization the evolving talent expectations and the pace set by changes within the industry.
Here are the six primary talent management strategies that serve as the pillars of people functions.
1. Detailed job descriptions
A well detailed job description helps the employer, 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. Here are some of the Information that must be a part of the job description:
- Job title and where the organization is located
- Duties of the staff
- Required skills for the job
- Reporting lines
- Tools and equipment used
- Salary and incentives
When all these description are there, candidates can easily make an informed decision on whether to apply for the job or not and sourcer get CVs that fit the bill better.
2. 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. Without a comfortable person-organization fit, the most amount of time, effort and energy would go into attempts at adjustment. Hiring candidate with the right P-O fit (or PE fit) thus greatly improves the chances of better employee engagement, higher employee satisfaction, and usually better performance.
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.
4. 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.
5. Opportunities for continuous 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 upscale.
OUR TALENT MANAGEMENT SERVICES
Every Organization requires a talent management program to be able to acquire and retain talent as described above. Our talent management approach incorporates an integrated process that helps design a talent program and the related infrastructure for attracting and developing critical talent, their right positioning in the organization as well as ensuring their commitment.
Our talent management consultants help organizations primarily in reevaluating their talent needs and aligning these with the business goals. Also, we help our clients increase the competency, productivity, innovation, and customer-centricity levels through designing human resources systems.
Our services within this context include:
- Defining talent management vision
- Conducting research on potential clients
- Creating marketing strategies for organization
- Defining critical workforce segments
- Developing the talent management road map
- Compensation, benefits, and rewards
Talent Management ensures that the growth of employees are tracked, important employees are retained and it also enhances organizational productivity. Talent management is not a mere checklist of requirements that need to be sufficed. It is a strategy that needs careful implementation, regular checks, and continual improvement. Business Cardinal has offered talent management services to various organizations in different sectors and having outsourcing your talent management services effective organization like Business Cardinal will improve the efficiency of your organization. For more information on the talent management services that we offer contact us on 08023200801, 08075765799, Email:email@example.com