Three ways to implement a talent development strategy
December 7, 2021at5:00 AM
For a business to succeed, beyond a desirable product or service, it must have a dedicated and talented team. There are several steps you can take to implement a talent development strategy. From optimizing your current talent to attracting new talent, it’s an integral part of a successful organization. Whether you have an HR team or you’re a smaller business where a few people wear many hats, nurturing talent is key to prosperity and growth. Whatever industry you are in, there are talented people available to hire. But how do you find, and more importantly retain top talent? We have put together three ways you can implement a talent development strategy.
What is talent management?
Before we dive into strategy, let us quickly explain what talent management is. Simply put, talent management is the HR (human resources) process to engage, grow, encourage and retain quality team members. From onboarding and exit processes to strategies for increasing performance, well-executed talent management gives companies an edge in today’s competitive business landscape.
1. Make talent management part of your business strategy
Too often we see talent management as an afterthought rather than a primary business focus, which is a mistake many businesses make. We suggest incorporating a talent development strategy as part of your larger business strategy and investing in your employees from the very start. Becoming a desirable employer from the beginning will make it easier to attract talent down the road as your business grows and expands. Rather than scrambling to create programs and an employee sourcing plan, make it a priority from the moment you start putting together a business strategy.
2. Support existing staff and retain current employees
Sometimes it’s necessary to look outside your organization to find the right fit for a position, especially if it’s a very technical role. But often, the person you are seeking is right there within your organization! Before you begin looking for talent outside of the company, consider re-training or upskilling an existing employee. The advantage is that they will already have intimate knowledge of the company, have an existing rapport with clients and coworkers, and will not need an extensive onboarding process.
Beyond that, supporting existing staff through benefits, wellness, and professional development programs is also an important way to retain and support existing staff. These types of programs create employee loyalty while keeping staff in the know about your industry.
3. Initiate talent development strategies
These initiatives range from identifying vacant positions to recognizing existing employees and on-the-job training. To achieve long-term business objectives, your talent development strategy must be an ongoing, evolving plan of action. Don’t sit back and wait for problems to arise – anticipate your business’ talent needs and prepare your HR department.
Stay current on job trends and what workers expect from their employees. Whether it’s flexible working arrangements, generous paid leave, or educational resources, be ready to offer all this and more if you want the best of the best.
How SGA Talent can help
With over three decades of experience helping businesses and organizations create talent development strategies. Our professionals have specific industry expertise and experience and create a personalized, specific approach for each of our clients. From our proprietary AI database to our extensive network of industry professionals, we can create an effective talent strategy for your business or organization.
Our executive team has years of experience as well as specialized skills relating to specific industries, such as manufacturing, technology, education, and banking, just to name a few. We back up our research with rigorous data collection, testing, and metrics to give you exact numbers. We measure things like talent pool sizes, the number of candidates screened and met with, offers received, and much more.