It may come as a surprise or expectation to some that talent management is not at the top of the list when it comes down to company development and enhancement. Many believe that their company does not need such help in order to climb the ladder to success and stand by the idea that companies are driven forward through other ways and means. Alternatively, there are those organisations, who believe that talent management would be a great use to the company, apart from neglecting to prioritise it amongst other things. It is important to recognise as a leader that your employees are the mechanics of your company, leading it to success, and therefore any development, training, or skill and task delegation can make all the difference.
Talent management requires a relationship with employees and an awareness of a team and an individual’s capabilities. A leader must be aware of the best assets within the company, in terms of who performs well at what and how strategies are executed. Through assessing the skills of the organisation, a leader will be able to determine and implement the strategy and plan that it needs in terms of allocation, recruiting and management within the company. Understanding what the organisation needs is the first stage of talent management which enables you to decide what methods and actions to take. Will you recruit new and skilled experts? Or will you build on your current team?
Despite the fact that talent has always been important, it has become ever more crucial in the last decade with a rising rate of technology and knowledge emerging, with businesses striving for success and competing against each other to be the best. Daily business operations and roles have now become a whole lot more involving as well as demanding. Not only that, the role of human resources has also transformed drastically in that HR departments now usually fixate on particular elements of the business, such as finance, hiring, development, etc. In such a company, this type of structure can open the door to great opportunities surrounding talent management which those organisations can take advantage of. It is rare to find leaders who are trained in talent management, as they are usually qualified in a technology field or finance. As this is a common problem, many companies use organisational development software in order to support their talent managing endeavours along with other features that aim to improve and develop a team.
In addition to bringing about a stronger organisational effectiveness, talent management also drives financial performance, an important factor in business, no doubt. Improving the standard of work within the workplace or hiring new talent in order to bring about effective change will increase the quality and productivity of the work produced by the team, as well as saving any time that may previously have been wasted. When implemented, talent management usually forces an organisation to re-engineer its whole structure surrounding talent, which contributes to the standard and quality, resulting in increased productivity and higher success rates for both individuals and the team. As you strengthen roles and partnerships within a team, shrewd awareness will develop and the team will be able to make more intelligent decisions that will lead to inevitable success.
You will also have a group of experts on hand that will represent and provide the company with valuable knowledge and add to the business in many ways. Ensuring you have successful individuals on the team, there will be more employees with common sense and initiative – which will come in useful for progress, difficulties encountered and adventurous ideas as well as bold and calculated business moves. Having the best people on your team can make all of the difference to a workforce especially if each individual and team as a whole is working towards the same goal. Talent management is also great for assigning together employees who work well together and matching up those who complement each other and improve quality.
At the height of company success and effectiveness, you will find highly skilled, knowledgeable and bright individuals who are excellent at what they do and who understand the best interests of the company they belong to. Seeing as employees drive businesses, why not make sure you train, hire and sculpt the best?
About the Author:
Isabella Sinkinson is part of the editorial team for Thirsty Horses, a performance and talent management tool which takes a ‘social media’ style approach to Organisational Development. Her interests lie in the optimisation of the public sector and how technology can be used for improvement in this area.