The Importance of Talent Management (FREE Seminar Dec 9th '16)
“Talent Management is the process by which an organisation identifies, manages and develops its people now and for the future” (Cannon and McGee, 2011). Through the use of a successful talent management process, managers can identify internal roles and skills that are critical to the business and develop and source these skills from people within the organisation as and when required. This will contribute to improved employee morale via increased development opportunities, continuity of culture and avoidance of lengthy time delays affecting overall business performance and productivity. Having a robust Talent Management process can also significantly reduce recruitment, selection and training costs as unfilled vacancies and turnover can cost a company between 30-150% of the annual salary! (Resource and Talent Planning Survey, 2015).
In many markets, mature or new, there is an ongoing “war for talent” a phrase first coined by McKinsey (Michaels et al, 2001). This phrase suggests that it is becoming increasingly competitive to hire and retain talented individuals with the required skill sets, as talented people need the organisation less than the organisation needs the talented people (Cannon and McGee, 2011). However, through the introduction of a Talent Management process, managers can focus on key skills and top performers and develop internal talent accordingly. This will not only provide promotional opportunities and build employee engagement but potentially reduce the amount of staff turnover within the business.
What CleverHR can offer to you
Whilst there is a reasonable understanding of the nature of talent management, it is still rarely used except in large sized companies and for senior positions. There is such a huge business advantage to be gained for deploying talent management in all levels within the organisation and for smaller sized companies. At CleverHR we can help introduce a Talent Management process to determine the organisation’s needs for current and future business demands. We can help identify positions and skills that are critical to business success and/or difficult to fill. We will work together to develop strategies to determine an optimum mix of both internal and external recruitment allowing you to hire successfully. We will also focus on individuals with high potential and establish clear development and succession plans and realign those individuals who no longer fit and utilize their skills elsewhere in the business.
If you would like more information about Talent Management and Succession Planning then please contact us at CleverHR or sign up to our free seminar on 9th October 2016. You can book tickets here.
“Talent Management is the process by which an organisation identifies, manages and develops its people now and for the future” (Cannon and McGee, 2011). Through the use of a successful talent management process, managers can identify internal roles and skills that are critical to the business and develop and source these skills from people within the organisation as and when required. This will contribute to improved employee morale via increased development opportunities, continuity of culture and avoidance of lengthy time delays affecting overall business performance and productivity. Having a robust Talent Management process can also significantly reduce recruitment, selection and training costs as unfilled vacancies and turnover can cost a company between 30-150% of the annual salary! (Resource and Talent Planning Survey, 2015).
In many markets, mature or new, there is an ongoing “war for talent” a phrase first coined by McKinsey (Michaels et al, 2001). This phrase suggests that it is becoming increasingly competitive to hire and retain talented individuals with the required skill sets, as talented people need the organisation less than the organisation needs the talented people (Cannon and McGee, 2011). However, through the introduction of a Talent Management process, managers can focus on key skills and top performers and develop internal talent accordingly. This will not only provide promotional opportunities and build employee engagement but potentially reduce the amount of staff turnover within the business.
What CleverHR can offer to you
Whilst there is a reasonable understanding of the nature of talent management, it is still rarely used except in large sized companies and for senior positions. There is such a huge business advantage to be gained for deploying talent management in all levels within the organisation and for smaller sized companies. At CleverHR we can help introduce a Talent Management process to determine the organisation’s needs for current and future business demands. We can help identify positions and skills that are critical to business success and/or difficult to fill. We will work together to develop strategies to determine an optimum mix of both internal and external recruitment allowing you to hire successfully. We will also focus on individuals with high potential and establish clear development and succession plans and realign those individuals who no longer fit and utilize their skills elsewhere in the business.
If you would like more information about Talent Management and Succession Planning then please contact us at CleverHR or sign up to our free seminar on 9th October 2016. You can book tickets here.