Talent Strategy: Plan for the Future of Work
What’s Your Plan?
Without good talent, your business doesn’t run well. Inconsistent hiring, panic-mode hiring, “settling” for talent, all speak to a lack of talent strategy. Planning, executing, following-through, creating, and thinking ahead are characteristics describing hiring today and with unemployment at an all-time low, the ripple effect of having a strategy, and not having one, is lasting.
Are You a Master Talent Planner?
What is your business strategy? Where is your business going? Is flat okay, or do you want growth? Are you struggling to get there? Is your existing talent heading towards burn out? Are they engaged? Are you helping develop their careers with you, giving them reasons to stay and building your bench strength and succession planning models? These are just a few questions organizations need to ask and answer before attempting to design, develop, execute, and follow-through on a talent strategy.
Whether you’re an Office Manager hiring one or two people a year, an HRBP responsible for a few facilities, or a Global Talent Leader responsible for domestic and inter-continental talent, success comes from a well thought out talent strategy tied to business objectives and career development opportunities.
Performance Management vs. Career Development
According to the Society for Human Resource Management, and as reported in Slate, “…95% employees are dissatisfied with their company’s appraisal process. What’s more, 90 percent don’t believe the process provides accurate information.” More unsettling is, an Adobe study found that performance reviews have no effect on how an individual does their job.
Much of today’s talent wants meaningful work, careers where they’re engaged, heard, contributory. In some cases, career development is more important than pay.
Are your processes promoting engagement, productivity, and growth utilizing today’s practices and tactics? Your employer brand is a large part of what attracts talent to you and how your talent is managed once they arrive and begin working is a large part of what retains them.
Strategic Planning Equals Thriving Talent
No organization wants to waste resources. A well-developed talent strategy ties to your business strategy, identify issues within your talent management systems and teams, and clarifies actionable talent initiatives to thrive, ensuring resources are contributing to the success and growth of your business, while developing strengths, talents, and work styles employable throughout the life cycle of your teams.
Are You Prepared?
Traditional approaches to developing talent are no longer relevant. Cultural diversity, experience levels across the workforce, and global, regional, and local visibility, are just some of the characteristics an organization needs to manage in developing its talent. Considering these, understanding the gaps and areas for strategy development, employing non-traditional feedback opportunities, and offering relevant and meaningful career building opportunities will help you respond to the talent shortage, build bench strength and succession planning models, and drive engagement throughout your organization, leading to better productivity and a stronger internal and external brand.
Meet Hire Correct
HR Business Processes. Talent Acquisition & Strategy. Custom Search. Change Management. We are a full-service HR and Recruitment organization intentionally partnering with our clients to build strategy and provide solutions leading to successful business, attraction, hiring, and retention outcomes. If you see us here, contact us today for a complimentary Competitive Employer Brand Audit.
Phone (404) 663-0447