Redefining talent management to improve company performance
It’s time for you to rethink your organisation’s approach to talent management. In the current economic environment of strong competition and reduced spending, retention of top talent is an important concern for many businesses. In fact, in Deloitte’s 2014 Global Human Capital Trends report, companies cited talent retention and engagement as one of their top two concerns.
2. Does our top talent know what our corporate goals are?
3. Do they know how their job contributes to meeting these goals?
4. Do we know how we are tracking against our corporate goals during the year?
5. Are our talent management strategies effective in contributing to these corporate goals?
Next, try out a few easy remedies:
* Re-evaluate employee performance plans to ensure they accurately align to the company’s corporate goals.
* Provide employees with visibility of their performance plans and access to update it as they progress throughout the year. This gives the organisation a clearer, more holistic view of its annual progress, as well as its workforce’s capabilities.
Many organisations do not follow through with employing effective talent management strategies because they can be seen as cumbersome and time consuming. But specific talent management software is available in the market to automate and streamline goal alignment, thereby freeing up the organisation to focus on its overall performance.
By Paul MacRae
Paul MacRae is the General Manager for Human Resource & Payroll (HRP) at TechnologyOne. With more than 25 years’ experience in the design and support of applications, Paul has a broad skill set across all sectors of the service IT industry. Paul currently leads an innovative team committed to ensuring effective Human Capital Management across the company’s client base.