Talent management has evolved over the years, concerning itself more with developing the collective rather than focusing solely on individual talent. Before recruiting and developing talented people for your organization, you need to determine what success looks like for each role and how it impacts the organization. Before sourcing talent, your human capital strategy must involve:
Meeting the talent demands of your business goals
Every company starts with big dreams of growing to the point that it can place talented C-level executives in every position – meeting its business, leadership, people, and technical competencies.
However, your organization’s goals are most achievable by placing the right people in the right positions at the right time. Whether planning for expansions or market opportunities, get a realistic idea of your organization’s business goals to recognize your talent gaps. For example, if one of your goals is a digital transformation, identify the skills and capabilities of your current talent. You may have senior leadership with a technological background to assess candidates applying for IT positions. And if your company’s goals are to expand to a foreign market, your talent needs will likely include a role that speaks the target audience’s language and understands the culture.
Mapping the impacts that talent has on your organization
The difference between need and want also applies to recruitment. You may want a talented social media marketing executive, but do you need one, particularly when those roles can be outsourced on a contractual basis. Before recruiting, map the cultural and financial impact the talent will have on your organization. Does their addition to the organization address immediate needs, or does it secure you for future growth? It may help to rely on data and analytics to predict future talent needs. Are there any executives or senior managers retiring or leaving their position soon? Has the company shown steady growth that proves that current employees need to be trained for promotion, allowing new hires to fill their vacant roles? Will hiring externally rather than promoting from within lower morale – is the choice to recruit talent from a competitor rather than train from existing talent justifiable?
Creating value for your company and opportunities for talent multiplication
- Does the talent fill current skills gaps?
- Will continuous learning and training help address potential talent gaps?
- Do your competency models identify the knowledge, skills, behaviors, and attitudes that contribute directly to business success?
Once talent has been clearly defined and sourced, it needs to be developed continuously to keep up with business needs and help achieve business goals. When the right talent is deployed in the right place at the right time, you create opportunities for talent multiplication. To achieve this, HR needs to become more strategic and integrated with the business and allowed to take on a bigger role in talent management. Explore opportunities in leadership development, succession planning, competency planning, and systems integration.
Please let me know if you are interested in pursuing a conversation or need more information on the topic above. There is never any cost for a discovery call which you can schedule right here: https://calendly.com/inscapegreg/intro
I look forward to chatting with you.
