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The Best Advice You Could Ever Get About Talent Management

More than a buzzword, talent management is a strategy designed to help companies attract and retain productive, engaged employees. As many organizations have already discovered, effective talent management makes good business sense. One survey found that companies with strong talent management practices increased their revenue 2.2 times faster and increased profit 1.5 times faster than companies without an effective talent management strategy.

There are many ideas and resources available to help with effective talent management, and the talent management programs you implement will evolve as your organization grows. To help you get started, here is some great advice that will help you better manage and develop your organization’s most valuable resource.

Develop a Comprehensive Talent Management Strategy

To effectively attract and retain talent, you need a well-thought-out strategy for how to recruit, develop, and reward employees for their work. For example, with talent acquisition, you’ll need to develop a program that helps to identify not just great talent, but the individual skills and behaviors that fit best with your organization and culture. The candidate selection process will be a key component in any comprehensive talent management strategy, as explained in one article that suggests a range of specific interview questions that can help to gauge a candidate’s fit with your company culture.

Related: Learn how to transform your organization with a live org chart.

Talent is a resource to be cultivated, so your talent management strategy should include activities that develop employee skills and provide opportunities for growth and promotion, such as training, coaching, and stretch assignments. It’s also important to remember that talent management strategy is not a one-size-fits-all solution. Yours needs to align with your long-term business strategy, so that company talent can effectively enable growth.

Hire and Develop Leaders That Will Drive Talent Management Success

One of the best levers for effective talent management is having leaders who can strongly influence performance outcomes and coach employees to continuously improve. In addition to hiring strong leaders, you’ll benefit from a focus on leadership development and training that helps existing leaders understand what is expected of them and how they can positively influence the behavior of others. Other activities that can help you build and develop strong leaders include:

Leverage Talent Management Tools

From self-service platforms and chatbots that provide employee policy information to pulse surveys that gauge employee engagement, there is a broad range of talent management tools that benefit both the company and employees. Some examples of talent management tools that can help shape your strategy include:

Get the Culture Right

Culture is the glue that holds all of your talent management activities together, so you’ll need to create the right environment for employees to thrive. Whether your goal is a high-performance culture, a culture of collaboration, or a fraternal culture where the workplace feels like a family environment, you need to weave your organizational culture goals into all of your talent management activities. From hiring for cultural fit to creating feedback loops that help you better understand how employees experience your culture, there are many activities you can undertake to build the culture you desire and in which employees have the best opportunity to perform to their potential.

While there’s not a single piece of advice that will give you all the answers for effective talent management, there are a few good places to start, like creating a thoughtful talent management strategy and cultivating a culture that will support programs for recruiting, performance management, and employee development. With a wealth of available digital tools to help you implement your talent management strategy, you’ll find new, creative ways to build an engaged and productive workforce.

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Cameron Nouri
by Cameron Nouri
I am the Director of Growth at Pingboard. I consider myself an entrepreneur at heart. I love trying new things and taking educated risks on new ventures, both professionally and in my personal life. I bring that passion to work everyday where I enjoy helping others discover the power that Pingboard can unlock.