Talent Management – Do you Do it and Does Your Company Have it?
When it comes to the success of your business, the outcome depends on a number of different things. But the most important factor isn't likely to be what you expect. Your employees are responsible for your overall success rate. Whether it's attracting them or retaining them, human resources talent management is one of the most important things to add to your company. Basically, human resources talent management is little more than a process that combines several different techniques to create and maintain the most effective and talented workforce possible. The better the employees, the better the company, and that's why human resources talent management is so vital to a company. Here's a look at the major factors that apply to human resources talent management and just how to maximize their effectiveness.
- Hiring – You can't build a good team without finding them, and human resources talent management begins with attracting the best hires. While traditional methods are always utilized, today's modern marketplace requires more creative human resources talent management hiring steps. Recruiting through Facebook, online job portals, and even Twitter are all viable options you should consider.
- Onboarding – Also called integration, this is an important aspect of human resources talent management that is often overlooked. The data shows that the first two weeks a person is employed will likely influence their overall performance at a company and their willingness to stay onboard. That means that your human resources talent management efforts need to ensure that they meld into the workspace and feel like they're part of the team as quickly and effectively as possible.
- Development – Using performance evaluations and training steps is vital for honing your employees' abilities and is an important part of human resources talent management. You may be able to hire great employees, but as things change and technology evolves you'll have to ensure they're current with developments. That means training and evaluating them, and any human resources talent management plan needs to focus on this step.
- Retention – Employee turnover can cost as much as five times the employee's actual annual salary, especially if you've spent time and money training them. That means that employee retention is a vital aspect of human resources talent management and one that you'll need to perfect. A combination of pay and benefits are usually the first steps towards this, but bear in mind that many employees often say that feeling like they're respected and appreciated is just as important when deciding whether or not they're happy with their jobs.
Keep the above four points in mind when developing your human resources talent management and you'll be on your way to getting the best employees and keeping them. It's often easier to complete than most realize, and is well worth doing no matter what the effort involved may be.