A talent management program is a system of processes that are aimed at transforming the talent creed and strategy of a particular organization into a program and strategy that can be implemented to achieve organization excellence. The best talent management program ensures it adheres to the company’s overall strategic plan and the needs of the business. It also ensures it aligns with company goals and this helps clarify the jobs of employees and demonstrates the value of the employees to the organization ( Araoz, 2007 ). A company must therefore ensure that incorporate the components of talent management programs in order to ensure it saves time and money and also to come up with the best program that will ensure organizational excellence.
The first component of a powerful talent management system is it’s the ability of to attract the right talent to the organization. The organization should ensure that it not only seeks candidates based on their skills and experiences only, but the company should ensure that the right fit of candidates. The fit between employer and employees is a critical factor in the good performance of the business. The company should first search internally for the best candidates. Databases and referral programs will help a company search internally for critical talent (Araoz 2007). The company should then look outside for critical talent by leveraging employees, use of job posting sites and social networking sites.
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After attracting critical talent in the organization, a company then focuses on developing this talent as the second component of a good talent management program. Employee development and motivation fall in the class of performance management. This is because it provides a growth opportunity for the employees which save the company from early exists. Companies must recognize how each individual employee wishes to move forward in the organization. The employer must then provide growth opportunities to ensure they excel and this will create employee satisfaction. The method of developing talents include mentorship, workshops, short courses and among other methods of developing skills.
A good talent management program is also composed of a good motivation strategy. Motivating of employees is critical as it helps keep them engaged. Motivation leads to happy employees, and this gives them pleasure in their work. Companies that have to engage successful employee motivation programs have been reported to have increased their performance by 20%. It has also reduced employee retention, and employees who are most motivated have been found to perform better than their peers.
The last critical component of an excellent talent management program is the ability of a company to retain employees. This means the ability of companies to keep their employees on board. Constant hiring and firing of employees may not create a good image for the business. Talent development and employee motivation can boost employee retention, but other things must also be done. Stay interviews, for example, can provide a channel for employers and employees to discuss issues and can help in the determination of the likes and the dislikes of the employees. This will ensure that employers make informed decisions that will help employees stay for longer in the organization.
A good talent management program is important for an organization as it helps keep employees engaged in the daily activities of business. Engagement of employees gives them a sense of belonging. This, therefore, keeps them happy and ensures progress in business. A good talent management program is also important in the development of diversity in the workplace. Through the development of talent, employees are able to work on what they are good at. This ensures diversification in the workplace meaning that employees will be able to take up many different tasks at once ( Araoz, 2007 ).
Any organization also has a chance to benefit from a good talent management program in terms of innovation. Through the development of talent and motivation programs, employees are able to discover their skills and work together in discovering new things. This leads to increase in the brand through innovations which are a good thing for any organization. Innovation ensures the growth of the company.
It is also crucial that every organization ensure it has a good talent management program as this will reduce the chances of a leadership gap. A leadership gas is mostly caused by lack of eligible candidates for the leadership positions during the time of resigniti9onfrom people in high ranks. As a result, a company is left with no leader to preside over matters during their term of search. Talent management programs ensure the development of leaders who are ready to take up this rank when other leaders resign and this ensure that there is no gap in leadership in the company. Talent management also helps leaders capture the right data and make informed decisions. Any human resource department relies on accurate data in order to make the best strategic opportunities. A good talent management system ensures this as it gives employees a platform to contribute to this data hence making it more accurate ( Araoz, 2007 ).
It is, therefore, important that a company ensures it has a good talent management program if it is to succeed. A good talent search and development program may be expensive and time-consuming in the beginning, but it is suitable for the long-run turnover cost. It is important for increasing the growth and productivity of the company and also it gives an organization a competitive advantage over other competitive organizations that do not have talent management programs.
References
Araoz, C. (2007). Great People Decisions: Why They Matter So Much, Why They are So Hard, and How You Can Master Them . Hoboken: John Wiley & Sons.
