What is talent management and why is it so critical to your company’s success? Whether you are sitting down with a long time employee or someone for their first interview, a good talent management strategy can ensure your top talent is supported throughout their employee lifecycle at your company. In turn, those candidates and employees can then attract other quality applicants to come and want to work with you.
The best way to retain and attract high-performing employees is to develop and follow an effective talent management strategy for all stages of the hiring process.
This post will provide several talent management strategy examples and help you in the talent management planning process, covering a range of topics like:
- What is talent management strategy?
- What is a talent management plan?
- What is strategic talent management?
- How can you start a talent development strategy?
- How to measure talent management.
- How do you define the objectives of a talent management program?
- How to improve your talent management strategy?
Talent Management Strategy
1) Develop a Strong Employer Brand
Employer brand is the perceived quality of the employment experience you offer and developing a talent management strategy around your employer brand is highly effective. There’s a reason why tech companies all provide crazy perks to their employees, it’s to strengthen their employer brand. The Google talent management strategy is a big part of the company’s success and reputation. Your employer brand will represent the first impression that new hires have. The value of your employer brand is either re-enforced or crushed by the experiences in the interview, their first day on the job, and beyond.
- Reducing time-to-hire will ensure that your company is perceived as efficient, timely, and practical in their decision making. Making applicants wait for responses will only send the message that you aren’t taking them or your business all that seriously.
- Quality of hire is an excellent way to demonstrate and reflect the quality of your company. Quality candidates can tell you whether or not your company’s brand is doing what it’s supposed to do. You might measure and audit quality of hire (or candidate) through regular performance reviews, initial assessment scores, or rigorous behavioral interview questions to dig in more.
- How is your company being represented on social media? What is your social engagement and follower numbers?Social media platforms are essential for building brand credibility because a majority of candidates will check your company out on their favorite social network. Ensure you have a presence for not only the external brand, but one that also highlights what it’s like to work at your great company.
2) Effectively Manage the Candidate Experience
Candidates’ experiences should always be positive –not necessarily easy, but a positive experience when they walk out the door. Regardless of whether or not they’re actually hired, candidates will be reviewing, commenting on, and relaying their experiences to other potential talent. The risk of one bad experience can taint on overall brand quickly through word of mouth.
- When it comes to candidate interactions, one of your talent management goals should be coming off as personable and affable. The difference between a recommendation, even if the candidate doesn’t get the job, could come down to the positive impression you leave with each potential hire.
- Communicate with your candidates. Send reminders, congratulations, and genial goodbyes when appropriate. Follow up when needed and often.
- Encourage your candidates if things don’t work out. Not every hiring process will be a success. Encouraging your candidates when things don’t go as planned will give them a good experience to end on. [Download: Candidate Rejection Templates]
- Make it easy for candidates to apply to your job. This means writing a clear job description, explicitly stating job requirements, and making management responsibilities known.
3) Ensure Effective Onboarding and a Positive Start
Onboarding is one of the most essential steps of talent planning for employees, and helps new hires feel like they were given the tools they need in order to succeed in a job. A shaky onboarding experience can cause new hires to lose confidence and leave them open to quitting in the first 6 months, the most common time to quit. Effective onboarding serves the dual function of an effective talent management and development strategy and results in greater performance and job satisfaction levels. According to Boston Consulting Group Report, onboarding is the leading driver for revenue followed by solid recruiting practices.
- Give enough time for your new employees to acclimate to their new position. Onboarding should extend beyond the first weeks of the job and should transition into your development/mentorship programs.
- Socializing your new hires keeps your candidate informed of the company culture and in the loop with their manager and team members.
- The time between the interview and the offer is critical. It’s important to keep the timeline tight and your engagement with the candidate active in order to stay competitive.
- Especially in the first few weeks, it’s important to send a message that your doors are open for questions and concerns. Clarifying things early on will ensure that there are less obstacles in the future.
4) Provide Opportunities and Support for Employee Development
Building your company from the inside should be one of the top objectives of talent planning. To manage your company’s talent effectively, you need to provide opportunities for development and create a culture that emphasizes continuous learning.
- Provide information for nearby conferences in your industry. Are there any expos or key speaking events coming up? Forwarding these events to your employees will set the initiative for them to seek advancement on their own.
- Develop mentoring programs within your company to bolster team rapport and elicit growth from the inside.
- Maintain an open-door policy. Managers and administrative-level members should utilize their seniority to take questions, guide, and develop employees under them.
- Utilizing a talent development program to train internal employees from the inside will promote internal growth a more industrious working environment. (Lever Talent Mobility allows you to post jobs inside the organization before going outbound to find the right hire).
5) Design Advancement Plans for Employees that Pan Out
Objectives of talent management should include talent retention. To ensure long-term success with talented employees, you need to create an advancement roadmap that pans out in a realistic time frame. If you do not provide advancement to your best and brightest, they will leave you.
- Ensure someone is sitting down with top talent to discuss exactly how talent will reach the next level, what KPIs/benchmarks/achievements will demonstrate that they are ready, and what will be expected of them when they reach the next level.
- Utilize perennial meetings to reach out to top talent and get feedback on their goals and expectations. Touching base with employees is an excellent way to enforce your internal talent management strategies.
- Give your top talent something to look forward to. Provide them with challenging tasks that stimulate and satiate their ambitions.
By incorporating these strategies into your own talent management implementation plan, you can ensure the retention and employment of top talent in your company’s future. If you’re organizing large-scale talent management programs or working from the inception of a startup, these strategies will be essential in defining your brand and building your talent pool.
Final Thoughts: Effective Talent Management Strategies
Whether you’re sourcing, hiring, interviewing, or measuring candidates, you’ll get faster, easier, and better results with Lever. Our applicant tracking software utilizes automation, streamlining, and an amazing user experience. Lever’s simple design means you can manage the entire hiring process in one, easy-to-use platform. Choose a talent management strategy that will be easier for your company and top talent.