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How to develop a Talent Management Strategy

Talent Management is a really hot topic at the moment although it could be seen as quite confusing and in some cases problematic, which is why having a talent management strategy can be vital for a business. If you are an HR or L&D professional it allows you to raise your profile and add real value to your organisation as it is a way of linking all your people activities to the business or organisational strategy. Themes that fit into Talent Management may include: Employee engagement; Recruitment models and retention strategies; Role profiling to measure or develop key skills e.g. technical or leadership competence; Performance Management; Learning & Development including Management & Leadership skill development and succession planning. In short it is all about aligning systems and processes to recruit the best people then manage, develop and retain them.

What is a Talent Management Strategy?

A Talent Management Strategy shows how the business strategy and/or key improvisational goals are aligned with internal people related drivers and activities. This is done in a way that maximises the chance of creating synergies and positive results in both areas.

Why is it valuable?

It’s valuable because it shows the relationship between strategic business or improvisational outcomes and people initiatives. This can give them the chance to be taken seriously and demonstrate real value by preventing them being devalued when time or budget pressures arise.

It helps the whole organisation understand the purpose of certain people orientated initiatives which make them more compelling and meaningful, e.g. Employee engagement isn’t just about how happy people are; we want to measure and improve it because it has been proven to correlate with improved business and organisational outcomes.

How to develop a Talent Management Strategy:

  1. Spend time with the board to understand future goals and drivers.Understand what the key organisational drivers are for the next few years, what are the business goals and challenges in the marketplace or environment that your organisation operates in. What is the competition doing or how are other organisations getting ahead? It is important to have this conversation at the highest level as you need your findings or recommendations to be taken seriously and sponsored as drivers of the overall business plan.
  2. Define and agree the potential links to people related systems and capabilities Analyse how the strategic goal may be impacted by people related skills, structures and attitudes. It may help if you think in terms of ‘as is’ and ‘to be’ or perhaps complete a SWOT analysis by analysing potential strengths, weaknesses, opportunities & threats within these environments. You need to consider whether your people have the right skills to operate effectively and/or deliver competitive advantage within the future environment.

So, if you are in an environment of changing technology you may need to recruit people with new skills or train internal staff to have this competence. In an ever changing NHS landscape the issue may be around patient safety & satisfaction, which may be affected by a number of drivers from effective resourcing to joined-up teams and increased communication.

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