A talent management system (TMS) is defined as “an integrated software suite that addresses the ‘four pillars’ of talent management: recruitment, performance management, learning and development, and comprehension management.” To optimize your talent management system, it is beneficial to refresh your memory on what exactly these 4 pillars stand for.
Recruitment
In order for talent management to happen, an organization must first acquire talent. Recruitment is the first stage of talent management, in which an organization attracts and engages talented individuals that could be potential employees. Your organization should apply recruitment strategies to get a grip on some of the talent that is out there.
Performance Management
After obtaining talented individuals, it is important that they maintain exceptional performance levels. Your management team needs to be prepared to manage its employees’ performance in order to help your employees maintain that level of exceptional performance expected of them.
Learning and Development
Onboarding and training are two key words for this third part of talent management. Onboarding methods help new hires learn about the organization’s inner workings in general and how they fit into that equation. Routine training will allow for your employees to fine-tune and further develop their skills and talents—two essentials for optimizing the talent of your workforce.
Compensation Management
It is important to keep employees engaged; acknowledgement of achievement and giving rewards when they are due being two ways to warrant engagement. Be aware of reward systems within your organization—are they showing adequate appreciation to your employees?
Talent is valuable. Keep a talent management system in place to obtain and retain your talent.
