A good talent management 101 strategy makes sure that top rising talent in your organization gets supported throughout their entire tenure with you. These talented candidates can attract other quality employees and candidates to come and work in your company.
To attract and retain top talent in your organization, you need to have a proper talent management 101 strategy.
Why is Talent Important for a Company?
An organization can get productivity kicker from the top talent. A recent study has shown that 6000,000 entertainers, researchers, athletes, and politicians found that high performers are 400% more productive than average talent. Studies conducted on different businesses show similar results. However, it has also revealed that the gap increases with the complexity of the job.
You get remarkable results when you hire top talents for your company as it increases the organization’s productivity level. But there is increasingly fierce competition when it comes to attracting and retaining employees. It is a war of talent. This is when a talent management 101 strategy can prove to be useful.
Talent Management 101: Tips to Attract and Retain Talent
When you have to attract and retain talent in the present-day workplace, there are a few best practices that exist. You can easily implement them. Below are a few practices that will help in promoting a culture that helps in attracting and keeping talent.
- Create a Strong Employer Brand
The brand is taken as the employment experience you provide. So, creating a talent management 101 strategy that focuses on the employer brand is significantly effective. This is the reason many technology companies provide incredible perks to their employees. It can also strengthen your brand.
The employer brand creates the first impression that any new employees have. Your brand reputation is either crushed or reinforced by the experience they have at the interview or on the first day of the job.
- Reduce hiring time as it will ensure that your company is taken as efficient, practical, and timely in the decision making. If you make your job applicants wait long for a response will send a message that you are not taking your business or them seriously.
- Hiring quality talent is an excellent way to show and reflect the company’s quality. Your company’s quality candidates will tell you if or not the company brand is doing what it is supposed to. You can measure and audit the hiring quality through initial assessment scores, performance reviews, and behavioral interview questions.
- Learn how your company is being represented on social media platforms. Get to know the number of followers and your social engagement. With social media platforms, you can build brand credibility as many candidates will check the company on their preferred social media network.
- Offer Flexibility
Your philosophy should be to take care of your employee so that every employee can take care of your business. With several different generations in the workforce, including millennials, baby boomers, or Gen Z, offering several benefits that allow flexibility is crucial, particularly promoting a good work-life balance.
The benefits your company can provide includes-
- Days to work from home
- Offering new moms and data an additional week of paid time off for transitioning into parenthood
- Flexible work schedules
- Opportunity to leave the office early
- Work schedule adjustment to run errands and take care of appointments without penalization
All these will create a good reputation for the company. It will help attract great talent and retain them.
- Involve Employees in the Recruiting Process
Happy employees are going to stay in your company for a longer time. You can attract top talent by showcasing the best possible hires that they will be happy with when they become a part of your company.
To keep your employees happy, you can give employee cards. This way when they meet someone fit for the job, they can slip in the company card and tell them that your company might be a good fit for them considering their experience and skill. Nothing’s better than an ego boost to pique a prospective recruit’s interest in the organization’s employment opportunities.
Referral incentives encourage the employees to help in attracting top talent. You can also consider cash bonuses, gift cards, or some additional time off.
- Offer Career Advancement Programs
It is important for organizations, particularly growing ones that look to extend their workforce for investing in employees for making them feel at home. This makes them feel more confident about themselves and their future in the organization.
When your employees see that you are investing in the development of their personal career, they become more productive and tend to be less stressed when it comes to their job security.
You can provide employees access to counseling professionals or implement a one-on-one mentor partnership. It will help in building their trust in you.
- Engage Your Workers
CIOs do well by connecting with the workers and updating them about the company and its directions for getting their feedback. How you handle the interactions with the employees can change the view of the employee towards your organization and their job or role satisfaction.
Many employees leave their job roles due to their dissatisfaction with the job role. In case there have been management issues in the past or an employee felt their employee did a poor job in handling or engaging the workforce, they are more likely to leave.
You can conduct stay interviews with employees to understand if your employees have any concerns and formulate some measures to address the concerns.
Regular meetings held semi-annually or quarterly with rotating or selective senior executives should include all employees. But remember, you might have to organize several sessions to make sure the groups are not too large.
Bottom Line: Talent Management 101 Strategy is Here to Stay
Keeping top talent in your workforce is not an easy task. What has kept individuals in the job before is not the answer to today’s workforce. So, it is crucial that you keep enhancing the workplace culture. With the help of the above tips of talent management 101, you can reinforce the message that you care about them.