Introducing an effective Talent Management program can result in creating a competitive advantage for many organizations. Firms that outperform their competition know that strategic talent management is essential in attracting, retaining, and engaging competent employees and ultimately driving bottom line profits.
As a result of the ever changing landscape we conduct our business, having the ability to train and retrain employees according to the needs of the business is of critical importance. The majority of organizations face unrelenting challenges pertaining to an aging workforce, employee attraction and retention, transfer of knowledge and critical skills, performance management, and dealing with disengaged employees.
Creating a strategic talent management program can greatly aid a company in the achievement of its business objectives. Dependent upon the size of the Company, a practical yet highly impactful Talent Management program can be established and introduced. At Integral HR Solutions, we work with our clients to create and introduce Talent Management initiatives.
Our proven processes include:
- Employee Assessment – Conducting third party objective assessments of key personnel can be of significant value to an organization. Professional assessments can be applied upon final screening of a potential hire, a review of internal candidates for promotion or professional development opportunities, succession planning, project management and or leadership assignments. The Assessment process includes a variety of proven processes including but not limited to behavioural interviews, behavioural testing, 360 reviews, and climate/employee engagement surveys.
- Talent Identification/Retention - The grass is not always greener on the other side. Unfortunately, more often than not; departing employees learn this lesson the hard way. Introducing talent management solutions that include coaching and mentoring solutions, training and development programs, work/life balance initiatives, competitive compensation strategies can pay significant dividends relating to employee retention and engagement. Taking steps to proactively identify internal talent and develop a program to retain such talent should be given serious consideration.
- Talent Mapping - Introducing a formal process that links the talent on hand to the talent required to support growth strategies as well as objectively assessing gaps is crucial for long term sustained success. As companies pursue greater alignment between talent management and strategic planning, they begin to see increasingly greater value in talent mapping.
- Professional Development – Providing key employees with clearly defined role & responsibility statements and performance objectives that are aligned with strategic business plans can aid in their personal and professional development. Best in class practices facilitate the alignment of personal values (of key employees) with the values of the organization.
- Succession Planning – Surveys confirm that business owners/general managers reveal that they are ill-prepared for the inevitable ownership/leadership transition that is quickly approaching. Admittedly, there is nothing new in this lack of foresight as this has been the case for many years. But this time around, the consequence of inaction will be more costly. For many organizations, succession planning is an overwhelming issue that is too often dealt with only in emergency situations such as death or illness of an owner/partner or when new partnership is needed following a cash flow crisis.
Business owners and leaders who implement effective talent management processes will find themselves better prepared than their competitors to compete in the challenging environments they conduct business (whether locally or globally). At Integral HR Solutions, we work with clients to create and introduce practical succession planning strategies. Such strategies promote employee retention, development and engagement.