Talent management is not about dealing with excessive numbers
Companies going by the adage that people are their greatest assets misunderstand this as hoarding their organisation with people, sometimes with more than they actually need. While this obviously makes a dent on the costs, it also has a telling effect on the talent management objectives of the organisation.People per se are not great assets to an organisation but the right people certainly are. Just having a large workforce does not ensure the growth of the organisation, i
t comes from finding and then managing the right employees successfully. When organisations learn to manage their talent (employees) then the natural fallout will be their retention, engagement and commitment to the company. Despite the awareness on how talent management can propel organisational growth, many companies find it difficult to retain employees. This is because the management lacks a single, unified view of talent or even if they do, refuse to adhere to it.
Talent management does not work due to two reasons, either they are vague about what true talent consists of or each unit or department has its own definition of talent and bases employees’ performance evaluation, hiring, retention or succession planning based on this individual view.
This lack of clarity in the definition of talent or the lack of an unified view often acts as an obstacle for employees to perform optimally. Experts advise that if organisations have to learn to use the talent they have, they will have to devise a single way to manage talent irrespective of the unit or department the employee belongs to.
The management has to ensure certain aspects are in place if they want to use the full potential of the talent they have. Firstly the top talent should be engaged in projects that are crucial to the growth in business. Next, the goals of employee have to be in tandem with organisational goals. Further there should be performance assessments that can identify the skill gaps and competency requirements in employees. This should be followed with the required training for employees. Management should ensure that the quality of employees is maintained. Lastly, talent management should not be treated as a routine administrative procedure.
When there is an unified view of talent then it becomes easier for the organisation to break away from separate definitions of talent. This guarantees that the right people are hired for the right job.This ensures that employees are rewarded and recognised for their achievements which motivates them to do better the next time. It also allows employees to take charge of their career because their performance determines their growth in the organisation. This increases the levels of employee engagement.Such an approach also helps to focus attention on employees at different stages in their career- those whose careers are on upward swing, those employees who have reached their peak and those that have plateaued or those whose chances of further growth are minimal. With right talent management it is possible to explore the potential of these employees and provide them fresh and challenging opportunities.
When every department agrees to a common approach to talent management, then hiring, performance assessments and promotion decisions become easier to implement.
A common evaluation standard and universal assessment methods ensure that all employees are treated fairly and everyone gets what hey deserve. The employees’ confidence in the organisation increases because they know that hard work and genuine efforts will get its just rewards.
A unified approach makes processes simpler and provides the management a definite view of talent and helps to align, engage, develop and retain employees who can play a pivotal role in the organisation’s success.
