Guest post by Suzy Bidgood from Bidgood HR Consulting
As an experienced HR and Talent Management consultant, I’ve seen many successful business leaders recognise that having the right employees is critical to their organisational success.
In today’s tough climate the importance of seeking out, managing and retaining top talent has taken on an unprecedented importance – so let’s examine the key features of Talent Management.
Once solely associated with recruitment, the term now refers to an integrated framework which helps to create a powerful workforce and enhances business performance and effectiveness.
Talent Management is a strategic approach to ensuring a company has the right people, with the right capabilities, in the right roles.
Activities such as recruitment, performance management, training, succession planning, retention and leadership development programmes are brought together as an integrated approach aimed at getting the best from your people.
Fundamental to any successful talent strategy is a clear understanding of the organisation’s business strategy. Ensuring the two are aligned – with the business strategy underpinned by pro-active talent planning geared to achieving the company’s objectives – can power a business to new heights.
How does Talent Management Benefit your Business?
- It identifies both the capabilities and the gaps. Understanding employees’ skills and abilities will help to identify and address any key gaps between the talent in place, and the talent required to drive the business forward
- Having the right people in the right roles. Recruitment can be focussed on skills that add value to your business, whilst making the most of your existing people’s strengths
- Targeted development and investment. Development is based on skills which are key to individual and organisational success
- Future leadership capability. Identifying and developing leaders that will drive and sustain your business going forward
- High performing and engaged workforce. Individual and team goals will be aligned to business strategy and objectives
- Retention. You can ensure that your most valuable employees are engaged and committed to the business
Introducing a Talent Management strategy can simply entail joining the dots of your current activities – or it can mean establishing new ways of doing things.
Ultimately, however simple or complex your talent strategy is – having one in place can make a substantial difference to your success and bottom line.