To begin, let’s answer the question of this article’s title with a definition from Johns Hopkins University:
“Talent Management is a set of integrated organizational HR processes designed to attract, develop, motivate, and retain productive, engaged employees. The goal of talent management is to create a high-performance, sustainable organization that meets its strategic and operational goals and objectives.”
Talent management consists of several key management processes that form together, forming somewhat of a cycle. Let’s begin the cycle at obtaining talent. The three categories in this section are workforce planning, recruiting, and onboarding.
Johns Hopkins University describes workforce planning as “the strategic projection and planning of access to talent with the skills, knowledge, and behaviors” essential for the achievement of organizational goals. For more insight into workforce planning, check out our other article: Workforce Planning: An HR Necessity.
JHU considers the act of recruiting to be “the ability to attract and hire key talent for current and future organizational needs through advertising and interviewing efforts.” Your organization needs to be attractive to the type of people you want on your team.
Onboarding is defined as, according to JHU, “the process of acclimating new hires and ensuring that they quickly feel welcomed and valued by the organization.” Not only is this true, but Talexes also considers another aspect of onboarding—equipping new hires with the tools, skills, and knowledge they need to perform at the highest level. Visit our onboarding page for more insight into effective onboarding.
The next part of the talent management cycle is developing talent. This includes performance management and the use of 360°assessments. These two go hand-in-hand—360° assessments give an accurate representation of employee performance and provide suggestions for managing their performance properly. Our library of assessments can help you achieve your performance management goals.
The cycle continues with retaining talent. This includes engagement and recognition. An engaged employee is a productive employee. As stated on the employee engagement page of our website, engagement can be achieved with the following steps:
- Ensure job fit
- Reduce conflict
- Improve communication
- Discover and offer development opportunities
Recognition is also imperative. It is important for every employee to realize the significance of their role in the organization. This sense of purpose drives employees to perform at their highest ability.
Talent management is the glue that holds the building blocks of any organization together. Make sure your glue is strong enough by adhering to the steps of the continual cycle that will attract, obtain, motivate, and retain peak talent in your organization.
Take a look at our extensive library of talent management solutions for optimizing talent today!