Every company should place significant emphasis on their talent management processes in order to engage, motivate and make the most out of their employees. When a company effectively manages employee talent the company inevitably will grow. The employees are the most valuable asset in a company the more you support them the more they will give back. In order to achieve the best results a company should emphasize the following aspects of talent management:
The performance appraisal process is critical to the success of a company. It should not only cover goal setting but it should also allow links to business objectives so that employees can understand how they contribute to the business agenda. Employees should be able to get input from the entire team when they request feedback, and also provide their own feedback if they wish. The performance review should be objective and the purpose of the review should be to grow talent rather than act as an admin task. Finally, and most importantly, the performance appraisal process should incorporate reports that evaluate performance. In this way, management are able to make informed decisions about employees.
Talent management & learning go hand in hand. Employees really care if their company takes a genuine interest in their personal and career development. The learning process should not be driven from HR. The employee should discuss learning needs with the manager and come up with the plan. The learning process should be built to facilitate the development conversations between the manager and the employee. If a good learning process is in place it will boost employee loyalty and make talent management easier.
People in general desire 'acceptance'. This desire can be observed in every stage of life. Therefore, every organisation should have a process in place to reward its employees. Rewards should be given to motivate employees when achieving a goal or when employees have accomplished a business objective. These rewards can be given at anytime as long as they align incentives with the business objectives. A properly implement rewards process will not only motivate employees but it will also help the company achieve strategic and operational goals.
Socially integrated user profiles, content sharing, status updates and news feeds will all boost employee collaboration. Outside work we maintain a social profile through various web applications e.g. Facebook, Twitter. Having social tools at work it will not only foster connections across the company but it will also support talent management by helping individuals and teams address their own performance problems, identify learning and developments needs and built collective intelligence.