5 Strategic Approaches to Talent Management in The Workplace

Talent Management Tips

  • Developing Job Descriptions
  • Provide Development Opportunities
  • Performance Assessments
  • Selection Process
  • Effective Compensation

Talent management is a strategy relating to business that helps you recruit, hire and retain the best talent in your field of work. The goals relating to Talent Management in The Workplace must be well thought out and planned in order to be successful. There are some tried and true approaches to talent management that can set your human resource department apart from your competitors. Let’s take a closer look at five of these approaches/strategies.

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1. Developing Job Descriptions

For each job opportunity that you post for your company, whether it be internally posted or external, the descriptions that you choose are very important. Making sure to be as clear about what duties go into the performance of a job will ensure that the people who apply know exactly what is expected of them. You won’t have a high turnover rate because people were misled regarding what was going to be part of their job. Also, make sure that you list all of the necessary requirements for applying. This will help minimize the number of applications you have to discard because people who were not qualified applied anyway.

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2. Provide Development Opportunities

For existing employees, make sure to offer ongoing opportunities for people to develop in their profession. This can be something as simple as a two-day training class on something new that would aid in everyday duties, or it can be management training programs that allow entry level professionals to gain valuable knowledge, experience, and opportunities.

3. Performance Assessments

A great way for employees to find out how they are doing and how they can improve is to do regular assessments. These can be done quarterly or twice per year in order to be effective. These assessments are usually done by management and give a brief overview of what was done by an employee, how their performance was, and how they can improve moving forward. This eliminates any surprises come bonus time or time for raises and talent on staff is always working towards new goals.

4. Selection Process

Sometimes a candidate will stand out as being the right person for the job, however, there might be a big pool of people to choose from. A tried and true selection process will make your decisions easier and faster. You will want to make sure requirements are met, references check out, a resume is impressive and so on.

5. Effective Compensation

In order to hire good talent, your compensation rates need to be impressive. They don’t have to be thousands higher than your competition, but there should be a distinct reputation present for being a good company with good compensation packages. Good health care benefits and additional perks always help to obtain talent and keep them on board. For example, something as simple as having on site, free parking can sway a person’s decision if they would otherwise have to pay hundreds of dollars each month to park somewhere else in the area at another company. Ongoing raises and bonuses are a great incentive and a reward for a job well done.

Talent management must stem from a company’s mission and vision for their business. This is what allows an employee to find their niche, working towards the ultimate goal of the company. Strategically speaking, these approaches allow people at all levels to be part of something big. For more information on this topic, and for assistance relating to your company’s talent management, click here.

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