From the moment an employee enters the organisation (actually, even before) till the time they retire or exit the company, talent management goes on. Talent Management is seen as the strategic, employee-oriented version of Human Resource Management which is typically more administrative.
The process starts right from when roles in the company are drafted. So, from the time the company starts requiring workforce, talent management is in play. An organisation may know exactly what needs to be done, what different roles would be required, and how it can succeed. But without the right people to be working in it, in the right capacities, the plans would never materialise.
Even before finding the right people is where the first concept in talent management comes up –Strategic Employee Planning. This is where organisational goals are kept in mind while planning what different roles and what kind of skills are required. Roles and the skills, knowledge, attitude (SKA) the different roles require need to be considered carefully before confirming. These are going to be the base of any work that happens in the company. For instance, if a marketing company does not prioritise communication skills for the clients-relations role, it would lead to very inefficient operations.
Planning the roles is only the first step. Without the right fit into each of these roles, outcomes would still be wasteful. Here enters talent acquisition. This refers to finding the right fit for the roles open in the company. While it is important for the hires to match the skills and qualifications required, it is also very important for them to match the culture fit. As after all, what good can arise from recruiting someone who knows how to do the job but cannot do it because of they are not able to cope with the culture of the organisation.
Roles have been planned, right hires have been made, does the job stop here? No. Just how any industry is constantly upgrading and developing, the people working in it need to too. Hardly any person being hired to a role would be a perfect fit for it. There would always be scope for improvement. This is where the aspect of talent development comes in. It is important for the workforce to develop skills constantly – these are both the technical skills that one requires to be able to do their job and soft skills that support them in doing the job better. Constant learning and growth is essential for the employee to feel empowered in the role.
This empowerment of the employee goes beyond the realms of learning and development. Talent retention is one of the bigger challenges faced by companies today. Holding on to the productive workforce while multiple competitors are eyeing them is something that needs to be strategized well. The focus needs to shift from standard moves to more individualised ones. Each employee is different and the way the company treats them needs to acknowledge that.
Talent management, when done right, can lead to wonderful outcomes for the company. At the same time, when strategized and operationalised poorly, it can lead to a lot of losses too. As this is a delicate area, a lot of companies opt for consultants who can help in talent management. Consultancies like Skillwise help companies with various talent management related solutions from staffing to development. This helps companies manage their talent more effectively.