{"id":211564,"date":"2023-01-17T08:52:59","date_gmt":"2023-01-17T08:52:59","guid":{"rendered":"https:\/\/letstalktalent.co.uk\/?p=211564"},"modified":"2023-08-07T13:40:20","modified_gmt":"2023-08-07T12:40:20","slug":"the-building-blocks-of-talent-management","status":"publish","type":"post","link":"https:\/\/letstalktalent.co.uk\/blog\/the-building-blocks-of-talent-management\/","title":{"rendered":"The essential building blocks of talent management"},"content":{"rendered":"\n
Most employers will agree that talent management<\/a> is a key component of a successful business strategy. But when asked, they would be hard pressed to give a clear summary of what an effective talent strategy entails. Is talent management that much of a complex beast? At Let\u2019s Talk Talent, we don\u2019t think so. Put simply, it is about getting great people, and keeping great people. Organisations need the right team in order to deliver on their business objectives. With such a clear goal in sight, why are so many businesses struggling to design and roll out effective talent management initiatives?<\/p>\n\n\n\n <\/p>\n\n\n\n It\u2019s important to understand that this area of HR covers the entire employee lifecycle, from the first time people hear of you as a potential employer all the way to the day they leave. Talent management includes your onboarding programme, your employee\u2019s career development opportunities, performance review processes, succession planning, leadership assessment, coaching, and everything else to ensure your business has the right people in the right place, doing the right thing. <\/p>\n\n\n\n <\/p>\n\n\n\n Whilst it could seem easy to tackle your entire talent strategy in one fell swoop, it can also feel overwhelming. Managing one area of talent management at a time is one thing. Trying to create and maintain joined-up programmes for all staff, no matter where they are on their journey with you is another. Here is a checklist to help you achieve just that.<\/p>\n\n\n\n <\/p>\n\n\n\n <\/p>\n\n\n\n It\u2019s important to understand that this area of HR covers the entire employee lifecycle. Whilst this seems obvious and much easier to manage when viewed as a whole, it can also be overwhelming for those with more limited resources. Planning and managing one area of the talent management umbrella at a time is one thing. Trying to devise and maintain policies for staff\u2019s career development, onboarding and inducting, performance coaching, succession planning and executive assessment at all once, and as a consistent joined up experience, is slightly more daunting. <\/p>\n\n\n\n <\/p>\n\n\n\n Before you even begin and just like with any other business priority, the key is to take a step back and ensure you have a true understanding of the most important issue to address. Are you considering implementing a talent management strategy due to poor staff retention rates? Or do you think your next leaders do not have the tools needed to step up? Perhaps your staff feels diversity and inclusion needs a bigger focus? Your first steps into the talent management world will definitely be determined by the big question you are trying to answer.<\/p>\n\n\n\n <\/p>\n\n\n\n For those who cannot say with absolute clarity what the big question is, an audit may be required. Just like any other strategy, having a good understanding of the situation starts with identifying and surveying your main stakeholders. The Said Business School did just that and started with categorising its key players into six key categories, each with different skills, needs and purposes: <\/p>\n\n\n\n <\/p>\n\n\n\n It\u2019s easy to see how each group would have varied, sometimes even conflicting, sets of requirements. But how do you go about finding out what each of these groups needs and wants from their employer? A great example is The Said Business School, whose HR team conducted a company-wide staff survey, which allowed the organisation to truly understand its employees\u2019 views of what constitutes a great place to work.<\/p>\n\n\n\n <\/p>\n\n\n\n Before setting anything in motion, it\u2019s important to determine how you will measure the success of your talent management strategy. Before you get going, ask yourself: \u2018How will we know it worked?\u2019 Are you hoping to see lower churn rates? Or better retention amongst new starters? How can you measure staff wellbeing? Establishing measurable goals should be one of the first steps when considering a revamp of your talent management approach. No talent management initiative can be effective without regular review points and small, incremental adjustments along the way. <\/p>\n\n\n\n <\/p>\n\n\n\nWhat is a talent management strategy?<\/strong><\/h1>\n\n\n\n
In this article you will learn:<\/h3>\n\n\n\n
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How do you get started with talent management? <\/strong><\/h2>\n\n\n\n
The audiences to consider in your talent management strategy<\/strong><\/h2>\n\n\n\n
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Setting up talent management KPIs<\/strong><\/h2>\n\n\n\n