Talent management, best practices

• Posted by Jackline Chebet November 3, 2017 - Filed in Business - #Talent  - 2,562 views

  Talent management is a business strategy that will help you retain exceptional employees. The main goal of talent management is superior workforce.

  Talent management, when handled strategically, flows from the organization's mission, vision, values, and goals. This enables every employee to see where he or she fits within the organization.

  This, in turn, enables employees to participate in the overall direction of the company. From a strategic perspective, an effective talent management system helps crucial employees feel as if they are part of something bigger than their current job.

  Some of the talent management work processes include:

  • Develop clear job descriptions so you know the skills, abilities, and experience needed from a new employee.
  • Select appropriate employees who have superior potential and fit your organization's culture, with an appropriate selection process.
  • Negotiate requirements and accomplishment-based performance standards, outcomes, and measures within a performance development planning system.

  • Provide effective employee onboarding and ongoing training and development opportunities that reflect both the employee's and the organization's needs.
  • Provide on-going coaching, mentoring, and feedback so the employee feels valued and important.
  • Conduct quarterly performance development planning discussions that focus on the employee's interests for career development.

  • Design effective compensation and recognition systems that reward people for their contributions. Even if all of the rest of your employment processes are employee-oriented, people still work for money. Employers of choice aim to pay above market for talented employees.
  • Provide promotional and career development opportunities for employees within a system that includes career paths, succession planning, and on-the-job training opportunities.
  • Hold exit interviews to understand why a valued employee decided to leave the organization. If the reasons provide information about company systems that you can improve, make the changes that will better retain talented employees.