Talent Management: Strategies & Tools

Instructor: Rana Abourizk

Rana has a Masters Degree in Business Administration and is pursuing a Doctorial Degree. She has been teaching online for over a year. She has a strong business background.

One reason why businesses are successful in keeping strong, loyal, employees is the incorporation of an organized and well-planned talent management system. Today we will discuss the strategies and tools businesses use in a talent management system.

What is Talent Management?

Talent management is the process or system used by many companies to keep employees happy, encouraged, knowledgeable, and motivated. It is a series of steps put in place to keep employees driven to success. This process includes training employees who want to learn, rewarding employees for their success and giving them proper coaching to progress. The idea of talent management is to retain the strongest employees, keep them enthusiastic and motivated, and push them to work at their highest level.

Talent Management Meeting

Charles is in charge of Talent Management for a new retail company. He has a meeting Friday morning to talk with all the district managers. Charles's job is to make sure that management hires the right employees from the start and fully trains them. He also wants to be sure that the managers themselves be fully trained.

He begins to tell the team about his last job. He had a mess to deal with! Employees didn't have a reward system at all, many didn't even complete their yearly training, and there was a high turnover in the company. He took a lot of time hiring and firing, which was a waste of time because he had so much to fix. People who had been there for years didn't want change, and they were hard to deal with. Charles began to encourage the team and build trust by keeping his promises and training employees in a hands-on manner. He introduced some methods of success to the company, and eventually, they were able to change the company environment completely. Charles also made sure some strong people were hired that could lead the team in the right direction. The company needed a set of knowledgeable people who were career-focused and motivated to learn as much as possible.

Methods to Promote Success

Three basic methods to promote success in talent management are hiring, training, and rewards. When properly implemented, these are building blocks to a good employee development program. Employees who are knowledgeable have the ability to teach other employees. This creates a strong, useful and productive team.

Hiring

The first method to promote talent management success is hiring knowledgeable people and putting them in the right positions. One knowledgeable employee is better than 10 unknowledgeable ones. This person is able to teach new hires, help customers, and be a reliable, working asset. Employees should learn about the company goals, vision, mission, and history in the hiring process. They should be updated on company news and progress, and be fully aware of company rules.

Training

Charles learned from his previous experience that it was crucial for all managers and employees to be fully trained. When the managers weren't well-versed in all areas of the company, they weren't able to lead well and give good feedback to those who worked under them. Proper training can have a big impact on an employee's performance. How can an employee do their job if they aren't instructed about how to do it properly? Employees should be tested from time to time to make sure they are consistently receiving correct information. Employers should make sure that training is available for employees to complete during downtime, and employees should prioritize taking advantage of this. Remember, it is especially critical to make sure management is fully and properly trained, as they are the leaders of the group and need to know what they are doing.

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