According to the CIPD definition, talent management is the “systematic attraction, identification, development, engagement, retention, and deployment of those individuals who are of particular value to an organisation”. But what does this mean to your organisation?
The way you manage talent will depend on the level of experience and specialisation of your staff, their department, as well as the sector you operate in. While it’s easier to stick to the same old talent management processes, it’s important to remember that as times change, the way you recruit and develop your people also needs to evolve.
Keeping up with job market changes.
One of the most defining phenomena of today’s job market is what we call “the Great Resignation”. With a fast-moving, candidate-driven market – and candidates that are increasingly focused on what’s best for them – an efficient talent management strategy will be the key to remaining a competitive employer.
Between digital disruption and the shifting priorities of job seekers and employees, it’s no surprise that an agile and holistic approach to talent management is the way to go. Here are a few reasons why we suggest you should review the way you hire and manage talent:
Happy employees, happy life.
In 2017, Jacob Morgan published a study* explaining that companies who invest in employee experience environments (including tech, culture and physical space) are four times more profitable than companies that don’t.
In a pandemic world, this might involve providing tech and home office supplies that support healthy hybrid working (headsets, chairs, monitors, etc). People are more tech curious than ever, so investing in IT training is a good way to boost buy-in and productivity.
Culture-wise, the lack of office interaction can be an opportunity to encourage employee wellbeing initiatives. Here are some simple yet engaging ways of keeping spirits high:
- Regular 1-2-1 catchups: nothing like a decent catchup over a cuppa!
- Group activities: whether it’s a virtual game of Scribbl or an afternoon out in an escape room, don’t underestimate the power of these experiences for group dynamics
- Fundraising activities: helping others is a fantastic way of changing perspective and relativising life outside of work, which is especially relevant in the midst of a pandemic. It’s also a great way to encourage engagement. For instance, you could let people vote for a local charity each month which they can then fundraise for.
- Health and wellness: depending on your budget, you could offer perks ranging from gym discounts and cycle-to-work schemes to subscriptions to meditation platforms like Headspace or Calm. Facilitated access to counselling is also a great touch, especially knowing a staggering 70 million work days are lost each year due to mental health problems in the UK.
Beyond fun Zoom calls and fancy team lunches, investing in the employee experience will play a big part when it comes to retaining and attracting talent. With millions of people reconsidering the way they see work, this could very well make the difference when competing for niche skills or counteroffering a competitor’s job offer.
Finally, we can’t forget the power of data in honing your talent management strategy. Embracing new ways of gathering employee insights is a great way to access people analytics and make conscious decisions to improve performance and areas of continuous improvement like D&I.
Strengthening your employee value proposition.
While recruitment isn’t the only element of talent management, it’s worth analysing how a strong employee value proposition (EVP) can help you market your opportunities to prospective talent, and retain them in a competitive job market.
Let’s paint a picture. You’ve been struggling with a tough-to-fill role for a while: perhaps because of its niche skill requirements, or because your business hasn’t built a solid talent pool quite yet.
Fortunately, you find your perfect fit. And in the words of The Godfather, you’re able to quickly make them an offer they can’t refuse: a competitive salary, and a unique EVP that lead to an accepted job offer.
While this is the ideal scenario, the truth is many companies lose valuable people due to weak employer brands, or slow-decision making in the recruitment process. Speed is in fact a hugely influential factor, as endless interview rounds and indefinite waiting periods only make picking your competitor’s offer easier. Remember an efficient recruitment process along with regular communication and feedback can truly make the difference when candidates compare competitive job offers.
Developing an EVP should be a priority in your talent management strategy – but that doesn’t mean you can’t reach out for expert help.
When in doubt, speak to an expert!
We get you. While digitalisation has revolutionised the way you recruit and manage talent, the constant changes in the job market make it easy to be overwhelmed by the peskier details of recruitment. Let alone thinking critically about improving your talent management strategy!
So this is where we come in. As a local recruitment agency, we work in close collaboration with our clients to help them find – and retain – the best talent in south Wales. If you’re struggling with a role or would like to chat about how you do things, don’t hesitate to get in touch with us here.
* The Employee Experience Advantage: How to Win the War for Talent by Giving Employees the Workspaces they Want, the Tools they Need, and a Culture They Can Celebrate – Jacob Morgan, 2017.
To find out how we can work with you, please drop us a line
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Ita took the time to understand my objectives and needs as a candidate also – something unusual for a recruitment agency.
Information was provided quickly, in full and was very clear. Ita also took the time to follow-up post interviews to understand how things went and confirm next steps/timeframes. She has also gone the extra mile of checking in with me since starting in my new role.
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Ita took the time to ask about our business, our culture, the role and really understood what we were looking for. This resulted in a really straightforward recruitment process. All of the candidates put forward were of exceptional quality and I would definitely recommend Sitka to my colleagues and network.
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