Recruiting top talent won't benefit companies unless they effectively manage and develop their best workers. Making talent management a priority for the business's human capital isn't always easy for even the most experienced companies. However, there are strategies HR professionals can implement to refocus their employers on the importance of talent management.
Understand Existing Development Opportunities
HR professionals can't improve their human capital management without first determining what strategies are already in place. According to ERE.net, establishing the baseline or benchmark for learning initiatives is essential for HR professionals to develop a successful talent management strategy. ERE.net suggested businesses that want to prioritize any type of management strategy to gather all available information to do so. This is an important first step.
Determine What Qualifies as High-Potential Talent
HR professionals don't want to use time and resources trying to develop workers who may not have the qualities needed to become leaders at the organization. HR departments should work with managers and company leaders to establish what talent looks like at the organization, and they should determine how to speak to these key performers to get those workers involved in their own professional development. If done correctly, employees who are considered to have high potential will be more confident in their abilities and perform their duties even more effectively.
However, HR professionals need to be careful with how they communicate with and treat these high-potential workers. An article in TLNT outlined a true story of how a worker categorized as having high potential at his organization was ready to step into a leadership role his managers encouraged him to apply for, only to be told the role could be outsourced. HR professionals need to implement talent management strategies that discourage managers from overpromising development opportunities, while still improving the skills of those workers with high potential for leadership.
Develop Goals for Talent
Once talent has been identified, ERE.net noted HR professionals need to set clear objectives during the development process. Companies can't successfully prioritize their talent management without first focusing on what these initiatives should accomplish. Does talent development need to increase revenue or productivity? Should it boost worker loyalty, which will benefit the company when these workers become leaders? Answering these questions and establishing objectives are important to prevent miscommunication.
Remain Unified in the Approach
According to an article in the Federal Times, an integrated human capital management strategy is essential. Recruiting talent and evaluating workers should go hand in hand, the article suggested, otherwise there may be a disconnect between what the company wants to accomplish and its ability to meet those goals.