A Pragmatic Approach to Execute an Effective Talent Management Strategy
The core purpose of a talent management strategy is the identification, selection, development, and retention of the best resources for your organization in a long-term association. A company is majorly sustained by its people. The employees shoulder the company to reach its goals. Thus, having a good plan in place is a prerequisite. Remembering these pointers will ensure your organization is on the right track when it comes to talent management.
Beginning with the End in mind
Having clear and concise organizational goals is the first step towards Talent Management. Asking questions like; What are your organizational priorities; Where does your organization see itself in the next 5 years; helps to achieve clarity. Listing them down helps understand where you are headed to. This will help you chalk out the perfect route and manage the talent accordingly. It also helps in Identifying what kind of talent will be required to transport the company to it’s desired objective. Acquiring the right talent requires clear selection criteria.
Analyzing the Gap
The question is, where do you stand today and where do want to be? It’s required to measure the gap between your present self and your future projection. It’s best to have a proper measurement system in place to calculate the arithmetic required to launch your company off the right spot. If your goal is to occupy 15% of the market share and you are currently standing at say 12%, then it would be required to identify the steps needed to bridge the gap.
Allocating dedicated resources at the beginning
Once you have identified your goals and set your priorities, you can now have a much better idea of your journey. Before your recruitment team is equipped to hire the right talent, it’s important to hire the right recruitment team. Without a functional team to implement, the best of talent management strategies won’t create the desired impact. In many organizations, the implementation projects never see the light of the day because the existing HR team has a tough time juggling between their regular jobs and implementing TM strategies. CerveauSys provides dedicated talent management consulting services to custom-fit your requirements.
Building your team
Identification: Conducting relevant tests to identify the best resource and absorb them.
Selection: Acquiring the right talent whose individual goals will be aligned to the organizational goals.
Development: Developing and training your existing employees to be on the same page as the company. Active career development is essential in maintaining talent.
Retention: Employees should be given fair opportunities and impetus for career development. The right ecosystem conducive for the growth of employees serves as an auto-retention mechanism.
Tracking everything: Once you have identified the goals and the gaps and have the plan and resources in place to achieve the results, you can start tracking the movements. This is to make sure the initiative was executed as planned. It is required to occasionally re-align the team which drifts every now and then. What begins as a kick-start for many companies, loses the fuel midway due to inadequate monitoring and timely rectification. In order to ascertain that your talent management strategy is effectively implemented and executed to completion, contact CerveauSys, one of the best strategy consulting firms in Pune and Mumbai.
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