Talent management is an extremely important and extremely multifaceted field. HR professionals and business leaders alike need to carefully identify and manage talent within an organization in order to create a business geared toward growth. Here are some of the most important talent management processes.
Learning And Development
Ultimately, HR leaders want to help cultivate an upwardly mobile, capability-rich workforce. In order to do this, learning and development opportunities have to be constantly provided. Employees need to be able to access the educational resources that they need in order to ‘level up’. Learning Management Systems and Learning Experience Platforms such as those developed by Thinqi.com have proven to be extremely valuable to business leaders looking to get a handle on the performance and potential levels of their workforce members.
Talent Identification
Talent identification is a major part of talent management. Figuring out which members of a team to nurture and prepare for more senior roles is never easy. One of the most popular methods of quantizing talent identification data is the 9-box grid. First developed for General Electric to rank investment opportunities in the 1970s, the 9-box grid is a simple 2-axis affair. In talent identification, these axis’ are labeled as ‘performance’ and ‘potential’. Individual employees can easily be assigned one of the 9 boxes in the grid, with most companies investing their time and resources in employees with high potential.
Onboarding
Without a good quality onboarding process, companies would squander the talent that they bring in from the outside. Onboarding is the process by which new hires are introduced to the processes, culture, and strategic aims of the company that have just started to work for. During onboarding, the individual talents and skill gaps each person possesses can be identified by training staff or mentors. Staff members that have been subjected to poor-quality onboarding are likely to spend more time becoming familiar with the company they work for and more time getting things wrong as they learn!
Performance review phrases
Regular Performance review phrases can help a company to correctly assign its resources to the nurturing and management of talent. All employees, regardless of rank and performance, should be subjected to reviews. These reviews can help to develop useful data sets. They enable HR departments to accurately assign resources such as educational programs. They very rarely have a disciplinary function – despite what the anxious mind of a person called up for a performance review might tell them. Performance reviews should be conducted every 6-12 months. Some people have suggested that performance reviews are a rather antiquated way of assessing performance – preferring a more holistic approach.
Succession Planning
The development of an upwardly mobile workforce means that positions are going to become vacant as staff move higher up in an organization. It is vitally important that talent is identified and primed to move into vacant gaps well in advance. If this is not done, the knock-on effects of a very positive promotion can end up becoming extremely negative.
