Executives and HR management have always been focused on basic talent management acquiring, hiring and retaining talented employees. But, to drive optimal levels of success, business leaders need engaged, high-performing employees. The key to inciting a workforce to greatness is to align your talent management with company strategy, define consistent leadership criteria across all functional areas, and identify specific competencies (analytical, technical, education, experience) to cultivate for continuing growth.
Business leaders who implement the best talent management processes are more prepared than their competitors to compete in the global economy and capitalise quickly on new opportunities. True success is only available when companies do more than adapt to long-term trends; they must be able to anticipate and jump on new opportunities before the rest of the market. A strategic talent management plan allows you to:
Become “proactive” versus “reactive”. Fill your critical talent management needs and address company and industry changes promptly;
Identify essential skills to be developed in all employees, and minimise training costs by focusing on key development areas; and
Improve your recruiting process by identifying high-quality candidates using job descriptions based upon the expertise of your high performing employees holding uniquely valued company or industry competencies.
The best talent management plan is closely aligned with the company’s strategic plan and overall business needs. Goal alignment is a powerful management tool that not only clarifies job roles for individual employees, but also demonstrates ongoing value of your employees to the organisation. When you engage employees in their work through goal alignment, you create greater employee ownership in your company’s ultimate success; they become more committed to your company and achieve higher levels of job performance.
To achieve “goal alignment” in your organisation, you must first clearly communicate your strategic business objectives across the entire company. By allowing managers to access and view the goals of other departments, your organisation can greatly reduce redundancy. Goal sharing also helps departmental heads find ways to better support each other, as well as identify areas where they may be unintentionally working at cross purposes. With everyone working together toward the same objectives, your company can execute strategy faster, with more flexibility and adaptability.
Strategically minded organisations are able to change ahead of the curve when it comes to planning and developing a workforce with the right competencies. They have deeper strategic insight into their employees, and use that insight to proactively put the right workforces in place to effectively respond to urgent marketplace needs.
Excerpts from Successfactor.com
