Organizations often face problems that they never thought would occur until the damage is done. They often overlook the value of talent management in their business’ growth. Being too focused on opportunities for expansion and sales hinder their minds from seeing that there is also much value in talent retention, development, and other processes wherein talents are involved. Sometimes, not having the knowledge or awareness of how much impact talent lapses have to the overall organizational performance is the underlying cause of this problem. It may also appear that the business is successful because of the opportunities within its reach, but issues and problems are slowly forming part in the organization. If left that way, it will eventually have a big impact to the organization’s success.
What organizations need to do to ensure the attainment of its business goals is to incorporate talent management tools into its processes. The company will have to learn to use these tools in a way that will address their current needs. Objective metrics, strategic alignment, targeted training and development, key talent identification/retention, and career pathing are theimportant tools to consider.
The use of objective metrics means defining the specific job roles. It involves defining acceptable and good performance, identifying how it is measured, and determining the reward for its attainment. Employees can perform at their best only when they understand their roles, how it makes an impact to the overall organizational performance, and what the advancement opportunities are.
Strategic alignment is about integrating talent strategies to business strategies. Organizations often fail to align these two, which is one of the main reasons why they also fail to achieve their goals. It is important that these two are aligned because talents are assigned in implementing and executing the business strategies and plans. The success of every plan depends mostly on the employees. But if employees are not equipped with the necessary skills and competencies to be able to achieve the strategic plans, the targeted training and development can be utilized. There are different means to train and develop talents. But the first thing to do is conduct training needs analysis. This will allow employers to see the kind of training needed by their employees. This will let them determine the necessary interventions. They may opt to conduct customized training programs, coach employees, assign new tasks to high potentials, and other means that will widen the scope of their talents’ skills. It will depend much on the employees’ needs and the company’s resources.
Once the employees are developed, talent managementalso makes use of key talent identification and retention. High potentials are identified and are continuously engaged to perform at their best. Their satisfaction is ensured through compensation, incentives, opportunities for growth, and other needs and factors that are important for them. These needs should be identified and addressed by companies so that their top talents are retained.
Career-pathing also helps companies retain their top talents. Regularly checking both their career and personal plans will provide employers the information in order to align their employees’ direction to that of the organization. A development plan for these employees can then be made, which will enhance employees’ motivation and commitment to the company.
Utilizing all these talent management tools will enable organizations to achieve the success they aim for. Addressing those that are the most critical to the companies’ success should be prioritized before proceeding to the other factors that have an impact to talents. It takes time to implement and execute but a companies’ commitment will make the difference. Each one in the organization, especially the management, should play an active role in this endeavour.