Talent Management allows you as the employer to find, hire, develop and retain the top talent at your company.
Rather than considering whether a new hire is good only for one particular role, you would instead consider whether they are good for the whole company and in possible future roles.
Like Performance Management, it involves setting goals and frequent feedback sessions. It is heavily focused on support and training from managers.
The process should start right from the development of the job description and job posting. Once the employee has started, it will involve training, feedback, career planning and promotions or transfers.
1. It ensures the top performing employees stay at the company, instead of developing their skills and taking them elsewhere, or looking elsewhere to develop their skills
2. Talent Management also aims to make the business more attractive to outside talent, bringing in top staff from outside the business
3. It maintains good performance of your staff, through training and motivation, continuously developing their skills
4. It increases staff engagement, with feedback giving them the opportunity to discuss concerns
5. Important senior roles will always have trained staff to fill any vacancies that come up
Talent Management is a really important way to ensure your top performing employees remain engaged and motivated.
Employees who feel less challenged and more disengaged will look for new opportunities. With a good Talent Management system in place, you can keep them in your company and performing their best.