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Do You Have a Talent Management Strategy?

Apr 12, 2021Coaching0 comments

For any organization to succeed, you need a strong team throughout your business. It is not helpful to have a revolving door of team members and it is not helpful to hire people who do not fit with your culture. Just like sports organizations recruit athletes who are skilled and coachable, team leaders must thoughtfully and strategically think about how to recruit and retain talented sales professionals. 

Talent management involves everything you do to attract, motivate, develop, and retain high-performing people. This requires establishing a positive employer brand, successfully onboarding new hires, helping employees grow their skills, and working to increase employee engagement. 

Create a clear job description

The first part of your talent management strategy should be finding the right candidates. To accomplish this, you need a job description that clearly outlines important information such as title, location, necessary skills, and salary range. You may consider using a test to help reduce the number of applications to review. Many people will not complete the test, giving you fewer applications to review.

Provide an outline of advancement opportunities

The best talent management strategies help employees understand where they are and where they can go. You may consider creating career maps for your team members, considering their skills, goals, income targets, and available opportunities. When employees understand how they can keep growing in your organization, they are more likely to remain loyal. 

You must check in regularly

If you typically only sit down with your team members annually or quarterly, consider checking in more frequently. Regular and informal performance appraisals often go a long way in boosting morale since they allow you to recognize team members for their hard work. Remember to track the right metrics and use them to improve performance and productivity. For example, if a team member misses an important deadline, consider how you could provide the right training or coaching. 

You should create a work environment that works for all

Talent management methods should focus on the needs of individual people. While your team members may appreciate flexible working hours, it can also sometimes make it difficult to collaborate. To avoid this pitfall, consider sharing employees’ schedules and arranging mini-meetings that allow your team members to connect. 

You must pay employees competitive salaries

Every talent management strategy should address compensation. While money is not the primary motivator for everybody, people ultimately come to work to make a living. Remember that talented team members will not stick around for long if you cannot offer a competitive compensation package. Several companies have replaced annual bonuses with monthly or quarterly incentives following performance reviews. This often benefits both you and your team members since people typically work harder when they receive a faster reward for the desired outcome.   

Whether you are creating a brand-new talent management strategy or refining one you already have in place, it pays to focus on every aspect of the employee experience, from the recruiting to the development and compensation. These best practices will help you find, hire and retain the talent your company desires. And this will help you thrive.


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