Employees are the backbone of any elite organization. An efficient workforce can maximize profit and ensure the utmost client satisfaction. However, finding the best workforce for an organization takes work.
Many factors need to be taken into consideration. First of all, you want to have the best talent on your team.
Second, you have to ensure that the people you hire are compatible with the organization’s values and work culture.
Third, you have to ensure that the employees thrive well in coordinated efforts.
Now, just like the workforce, a team to manage this workforce is equally important. If you are a part of the talent management team, your task is very sensitive and requires a high level of diligence. However, a structured method to create a pipeline of talented individuals and retain them for a long time can go a long way. In this article, we will talk about the nuances of the talent management process and how to excel at it.
What is the talent management process?
It is not enough to become a part of the talent management process team. You also need to understand your responsibilities in order to deliver your projects diligently. Therefore, in the introductory part of this article, we will discuss what exactly the talent management process entails.
Now, the first step in this extensive process is to proactively identify a vacancy in your organization. You can do this by assessing the workload of various teams to see which one needs an expansion and an extra hand.
Second, you have to analyze the roles and responsibilities that will come with the vacant position. You can do this by making a short report on the skills and experience that you will have to look for that will make the candidate compatible with the role.
Third, you will have to conduct rounds to find the best possible candidate for the position. Now, it is possible that the candidate you hire may have some skill deficiency for the role. Therefore, as part of the talent management team, it will be your responsibility to train the candidate to bring his skills up to the mark.
Lastly, you will have to devise an employee program to ensure that skilled candidates stay with your organization for a long time. In a crux, this is what the talent management process is, but it does have some technical nuances, which will be discussed further in this article.
What goes into a talent management process? What is the talent management model?
Talent management is an extensive process, and it takes structural planning and a blueprint to get everything right. Now that we have discussed the basics of what is a talent management process, it is time to dive into a detailed discussion regarding what goes into the process. Let’s look at the steps involved in the talent management process:
- Planning: Planning is the primary step in any process. You have to plan and draw a blueprint before you embark on the journey of hiring a suitable candidate for the role. The first part of the planning is to determine the area of the vacancy. See if there is a team that requires a team expansion.
Once you have made the list of available spots, it’s time to identify the roles and responsibilities that will come with the position. Accordingly, you can prepare an ideal job description to post on various platforms and share it with your talent acquisition team for review and reference.
Finding the talent
Once you have understood the roles and responsibilities of the vacant position and created a job description, it’s time to start the hiring process. The first step of hiring is to identify the platform where you can get the best talent for your organization. There are multiple websites that will just direct irrelevant candidates toward you, which is useless and a waste of time.
Therefore, depending on the role, you can see if you can hire someone from within the organization. Internal hiring is a great way to retain talent and encourage other employees to work hard and develop their skills. However, if you think that internal hiring is not suitable, you will have to find talent externally through different job posting platforms.
Once you post the job description and vacancy on different platforms, you will receive a lot of applications. Not all the applications are suitable for the job, so you must be diligent with the skimming process. You have to shortlist the most relevant applications first to ensure that you are not wasting your organization’s resources.
Next, you can conduct multiple interview rounds or assessment tests to see if the applicant is up to the mark with regard to the technical knowledge required for the role. Lastly, you will have to conduct negotiation rounds to discuss salary and other terms.
In addition to conventional hiring platforms, it's worth considering the top Employer of Record (EOR) providers, as they offer a more streamlined approach to talent acquisition and comprehensive HR management solutions.
Once you are through the hiring process, it’s time to make the new candidate feel welcome at home. It is possible that the new employee is talented but not yet accustomed to the organizational practices, which can make him feel out of place.
Therefore, it is the responsibility of the talent management team to conduct programs and seminars to discuss the values and work culture with the new recruits. Additionally, you can also design a rudimentary skill development course to ensure that the skills of the new recruits are up to speed with the rest of the team.
Your job as a talent manager doesn’t stop at hiring. It is your duty to ensure that the valuable talent that you have developed and nurtured stays with the organization for the long term. Therefore, you have to devise employee benefit programs to facilitate employee retention. You can bring up incentivization programs like bonuses, increments, promotions, etc.
The last step involved in the talent management process is transitioning. This is quite a complicated step too. Transitioning essentially means ensuring that when an employee is leaving the organization, you have to ensure a seamless transition. It is the responsibility of a talent manager to see that there are no sour exits to protect the image of the organization.
For this, you can conduct exit interviews and get feedback from the employee. This will give you a broad idea of how your employees perceive the benefit programs and work culture. Lastly, you have to find suitable candidates to replace the outgoing ones.
The importance & benefits of talent management
Now that we have discussed the talent management process extensively, it must spring to your mind what is the importance of this. It is a common perception that things should be kept simple in the talent acquisition part. Therefore, in this part, we will talk about the importance and benefits of talent management.
- Efficient recruitment: By developing a structured talent management program, you can elevate your organization’s image as an employer. The primary benefit of this is that the cream talent of the industry will approach you upfront, thereby saving time and resources for your organization.
- Minimum disruptions: Once you have created a robust hiring program, you will get a comprehensive database at your disposal. Therefore, if there is an unexpected employee leave, you can immediately find a suitable replacement from the pipeline.
- Improve productivity: A structured management program will enable you to form a good employee development scheme through seminars and workshops. It will boost your employees’ morale and take their skills to another level. Additionally, your employees will gain confidence due to the performance boost stemming from holistic skill development programs.
- Save costs: As a hiring manager, it is your responsibility to save the organization's costs in hiring and management. Therefore, by having a robust talent management process in place, you can ensure a good retention rate. This would mean that the expenses of hiring a new candidate and training him will be reduced.
- Innovation: A robust talent management process will ensure that you have created a holistic work environment where employees feel welcome and an intrinsic part of the process. Moreover, the skill development programs will ensure that your employees are confident to contribute. This will benefit your organization immensely by driving innovation and new ideas.
Best practices for building a talent management process
If you are not doing it yet, here are the best practices for building a robust and sustainable talent management process.
Supporting an employee
As a talent manager, you must understand that it is your duty to keep a close eye on your employees and their performance. Therefore, if an employee is performing splendidly in a role, you must recognize that actively and support that employee through process documentation. By doing so, you can ensure a good retention rate and come up with ideas to further develop the skills of such employees.
Pay attention to underperforming employees
While efficient employees form the backbone of a top-performing organization, underperforming employees are equally important. Rigid firing roles will only tarnish the organization's name in the industry and drive reluctance in cream talents.
Therefore, before judging an employee on his performance, you must identify the shortcomings in the talent development programs. An underperforming employee could be a result of poor training or resources. Therefore, it is your responsibility to commit to such employees and ensure that they understand their role better.
Promotion at the right time
When you devise skill development programs through extensive workshops, you will have to understand that the talent within your organization will grow rapidly. Therefore, there will be high-performing employees in the wrong roles. This means that you can utilize such employees in senior roles by giving them more responsibilities and boosting their confidence.
Keep an eye on the underperforming employees in the wrong role
Identify the employees that are underperforming but are in the wrong role. In such a case, you cannot keep grinding that employee in that role because it will only hamper his growth and won’t benefit your organization. Once you have identified such cases, it is your responsibility to move such employees to a more role that is more suited to them.