Finding the right person, in the right place, for the right job can be an uphill battle. The war for talent may be upon us, but here at Kallidus we firmly believe that it’s never too late to strengthen your defences. How? By optimising your recruitment, retention, learning and growth strategies. Learning management and talent and succession planning can be vital to protect your business now and in the future.
The trials and tribulations of talent management are nothing new; in fact, it has been 15 years since McKinsey & Company declared the start of the war for talent. But today’s key challenge isn’t just about finding talent – it’s about recruiting and developing the right talent. Future leaders need to be capable of driving your business forward and accelerating long-term growth. That’s no mean feat in the face of recession-driven cutbacks, global competition, technological innovation, and changing workplace demographics.
As business confidence continues to improve, the competition will only become fiercer. According to the CIPD’s 2013 Resourcing and Talent Planning Survey, 20 per cent of employers reported an increase in competition for well-qualified talent in 2009. This figure has risen threefold to 62 per cent in just four years.
The bottom line: talent management should be top of every corporate agenda. What’s your plan of attack?
Here are our five tips to help you win through:
1) Support your organisation in developing a talent mindset
Start at the top. For success in today’s battleground, your business needs a talent mindset that is instilled from the top down, even if this requires a complete change in focus. The spotlight should be on investing in acquiring, developing, aligning and assessing talent to optimise business performance and long-term growth. This doesn’t mean ignoring cost control, but the right processes will usually bring their own efficiency savings.
2) Make sure you have a winning employee proposition
Win over your staff. Employees need to feel valued and excited about the journey ahead. Engage your workforce and draw new talent with a winning employee proposition. Can you answer the following questions: Why would a talented person want to work at your organisation? And why should they stay? Think about what career experience, training and development incentives you can offer to differentiate your organisation from the competition.
3) Plan for the future
A static strategy won’t protect you. Building a successful business that is adaptable, agile and enduring requires careful planning. As employers we need to find and prepare people for a world that is different from the one we currently live and work in. Think about what your organisation might look like in five or ten years’ time. What key challenges lie ahead? How is technology changing your industry? What does change mean for your customer base? Do you have the skills and knowledge to drive change today, and what competencies are going to be crucial tomorrow in order to thrive?
4) Grow your own talent
Finding and replacing top talent is costly, so it makes sound business sense to invest in growing your own pipeline of talent. Build a culture of learning and personal development into the fabric of your organisation. Invest in well-crafted training and leadership development programmes, focusing on those individuals who have the potential to create the most value for your organisation. Provide career progression and talent mobility opportunities
5) Capitalise on technology
Technology has the power to revolutionise workforce development. Solutions like Kallidus Learning and Talent Suite, integrate talent management, succession planning, learning and performance management to provide instant, real-time access to staff performance. Systems like this help to reduce costs, increase efficiencies and ensure training resources are effectively assigned. More importantly, you’ll have the crucial insight and metrics you need to make objective decisions about talent and take action to close long-term skills gaps.
With 2014 just around the corner, now is a good time to reflect on this year’s talent management successes. Did you achieve your desired goals? How could you do things differently? We’d love to hear your hints and tips for achieving successful talent management in 2014 and beyond.