Talent management is key

Talent management is one of the main HR topics. Many times, organizations translate Talent Management into Recruitment and Onboarding. Too often, we see that they do not look at the current workforce when determining skills and development. However, moving the current workforce into the right positions might save a business a lot of money.

Organisations should not look at recruiting new talent as the fix-all for talent shortage, but should focus on using the talent that is already there to the fullest extent. We often devote more time and attention to trying to get new people inside, than educating employees that are already there. These employees have already decided that they want to work for you, so why not make the best use of their talents? Here are some ideas to get a talent strategy going.

1 – Create an overview of necessary competencies. The corporate strategy determines with competencies employees should have. Based on the corporate strategy, we suggest you create the strategic workforce planning. Once you have the planning, you can match current competencies with future competencies and determine the gap.

2 – Match the interests of employees and organization. There is a win-win strategy between employer and employees in the competency area. When an employee has the right set of competencies, and builds on them, he or she can be of much value to the organization. In order to profit from these competencies, the organization should offer the employee opportunities to develop these competencies, through training or experiences.

3 – Have a good appraisal and reward system in place. Due to scarce resources, differentiation is important. Certain employees with highly developed, specific competencies are of great value to the business. These employees will feel more appreciated when a good system is in place that rewards them for the services they offer and their added value. This does not necessarily mean more money, this could also mean more freedom, time off, creativity or other areas that are of value to an employee.

4 – Create the right education and career paths. Managers like stability and continituity in the workforce. A manager is unlikely to constantly push employees into a next career step, as this will disrupt the team. But an employee should not get stuck in a department. The consequence of that is that you will loose this person. To ensure that the knowledge and competencies are protected within the organization, it is adamant that employees get new challenges when they are ready – managers have to look at the overall value for the organization instead of looking at their own team.

The extent in which an organization can respond to the external opportunities and threats depends more than ever on the talent that is available within the company. It is of the utmost importance that managers have an indepth understanding and overview of the people that are already in their teams, before they look outside. It is always better to develop the talent that is already there instead of constantly adding new recruits.