Talent management is a highly beneficial aspect of any business strategy simply because it focuses on the most crucial part of the company, which we believe should always be the employees.
Developing talent in the workplace can seem like a weighted task. However, the time it takes to recruit a team full of skilled staff is more time-consuming than investing that valuable time into your present employees who are willing to learn and looking to advance their careers. Loyalty is at the core of any business, and proving to your team that you want to invest in them is sometimes all it takes.
If you want your business to offer a competitive advantage, now is the time to take talent management seriously.
What is talent management?
Talent management is considered a dedicated focus on resources and provides support that helps them accomplish career goals while at the company. Resources are acquired, well-managed, advanced and retained when talent management is done properly.
The process of talent management should include:
- Highlighting potential in employees
- Placing employees in roles where they are best suited
- Establishing goals and objectives to enhance talent
- Introduce talent development initiatives
Why do we need talent management?
Employees are looking for employment that offers a pool of opportunities. When a business allows its team to grow their skillset and provides them with the facilities to do so, the return on investment is unmatched.
Sam Latif, Director of Morgan Latif says:
‘’Developing talent internally guarantees that company and candidate values are aligned from the get-go. It’s important that workplace culture is understood by all, and internal prospects can step into the new role with confidence, knowing they worked hard to get there.’’
There are numerous development strategies a business should utilise to invest in talent already prevalent in the company. In this article, we discuss some of the best to get started with.
Encourage leader’s involvement
Having leadership teams on board for employee growth and development is crucial for success. Employees will look up to leaders, and having their input and support can make all the difference. The best leaders want to encourage teams to enhance their skillset and open the door to sharing opportunities.
Establish the company values and culture
Building a workplace that prioritises growth and learning forms a culture where training and development are the norms rather than a chore. Training shouldn’t occur once every so often. There is always room for improvement, and leaders should not only establish talent development as part of their company expectations – but actively encourage it.
Highlight specific goals for individual development
Different employees will want different outcomes from their careers. Rather than setting generic goals for everyone to follow, focus on each individual and find out what they aim to achieve in their career and at the company. This allows leaders to create a focused development plan for each person and help provide the relevant support for everyone to progress in their own time.
Mentorship and coaching
Coaching is more than training and teaching. It takes dedicated time and care to make a real difference for employees. Forming valuable connections and relationships and expressing care for employee development encourages team members to stay motivated and work to their highest ability to become their best selves.
Leaders should discuss the appropriate options for every employee to discover the best course of action and regularly ask them about the future and how they want to progress. Keeping a clear line of communication allows employees to feel comfortable and confident to discuss any concerns or aspirations with coaches.
Challenge employees for better confidence
This strategy is not an opportunity to give less enjoyable tasks to other employees. It allows leaders to educate, nourish and coach team members through something they may not have experience in but can help them learn new things and grow confidence in doing so.
Trusting employees is the one factor that will create an environment of capability. Allowing them to try something new and bring them out of their comfort zone while providing feedback is the best way for workers to learn and adapt, which further encourages them to be more open to opportunities in the future.
Pave the way
Leaders have a responsibility to set an example. Employees will admire mentors and can feel heavily influenced by their behaviour and attitudes in the workplace. Did you know that 50% of employees quit their boss, not their job? Leaders who showcase motivation to grow and continuously improve pave the way for employees to do the same.
Developing talent with Morgan Latif
Sam Latif says:
‘’Success stories breed employee engagement. Having champions of progression within the business provides a sense of hope and ambition amongst new or junior employees looking to grow into more of a leadership role in the future.
At Morgan Latif, our personal development budget is an incredibly unique offering that allows employees to seek development opportunities to help aid both personal and professional development to encourage our team to always be their best selves, feel motivated and work with coaches of their choice to establish better mental and physical wellbeing.’’
For some companies, the most effective solution is to develop the existing team rather than replace it. By engaging with our range of leadership coaching and training solutions, our clients advance their professional development, gain an understanding of implementable transformation, and drive the success of their organisation. Get in touch with us today to find out more.
