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How Strategic Talent Management boosts organisational success

 

Strategic talent management from an employee’s point of view might be viewed as covering the whole lifecycle of their relationship with an organisation. It begins with identifying talent gaps and clearly defining the skills, experience and competencies that are needed to fill that gap. It covers the selection process for finding this talent – identifying potential, assessing skills and finding a fit with an organisation’s culture. Then it channels efforts towards smoothly and effectively helping the chosen candidate through the onboarding process, before supporting them with training, mentoring and coaching to drive their career development. It will also encompass their performance reviews and their career opportunities, as well the compensation system in place to recognise their contribution. If they should leave, it can also serve to gain something for the company through the insight into why a candidate has chosen to depart.

 

All organisations, of course, will have a version of all of these processes, whether or not they are being at all strategic or, indeed, giving talent management much thought. What makes strategic talent management an important component of organisational success is how it is tied to an individual organisation’s particular mission, vision and values. It needs to be connected to the fundamental goals and strategy of the organisation in question, and it should be customised to this task to best equip it to achieve these particular aims.

 

This involves looking at the key drivers of an organisation, as well as the principle challenges it will face as it strives towards its goals. This helps facilitate an analysis of the gaps that currently exist between where the organisation is and where it wants to go. Then, talent management priorities should be created, based on this understanding.

 

Being strategic means that in pursuing these eventual priorities, you should look at your current talent management approach and be prepared to make adjustments where necessary. In addition, you must be ready to measure the effectiveness of initiatives and be prepared to change tack if things don’t work out as planned.
 
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