With the new year ahead, it’s important to keep in mind all the new business strategies and trends that will be forthcoming. This includes talent management, the process of managing the talent in your workforce.
Kimberly Marek, Chief Creative Officer at 7 Charming Sisters, provides the some of the top tips for your organization to make the best use of your human capital below. We’ve read the article, available here, and pulled out the top four.
1. Putting Out Clear Expectations
How are your employees supposed to know what’s expected of them if you don’t clarify it to them? When they have clear expectations, they’re more motivated to meet and/or exceed them. Whether it’s deadlines, skills or job tasks, being clear on what is needed is crucial.
This starts with a well-written job description that includes not only the job duties, but skills and abilities needed to complete the task at hand. Continuous feedback and communication with your employees is also key, especially in the first 30 days of employment.
2. Developing a Performance Management System
A strong performance management system is extremely important to managing the talent in your workforce. Marek suggests creating a policy for how often your employees will get performance appraisals. Create your appraisal based on the individual job description, the mission and values of the company, and allow for some narrative of the employee’s strengths and weaknesses. Always include actionable ways in which you feel the employee can do better.
“It’s important to note that performance management doesn’t just occur at annual review time. You should be providing both praise and corrective feedback all year long. Nothing should be a surprise on an annual review,” Marek adds.
3. Collect Analytics
Evaluating and analyzing employee data is another step for a successful talent management plan. As more businesses use electronic records management systems to monitor employee analytics, keeping track of that data will continue to become more evident.
Companies that don’t use HR technology will be left in behind in no time. Having this electronic system in place to track employee and people analytics is key for businesses and employee success. Electronic records management systems keep employees and employers alike organized and assist in decision making for employers.
For example, decisions related to promotions, raises and other employee management choices are usually made based on those collected analytics from the performance management system.
4. Provide Training and Mentoring
According to Marek, innovative companies are now offering off-site training opportunities made possible by technology to reach employees and clients alike. Investing in this technology will increase the knowledge-base of your team as well as increase productivity since employees won’t have to communicate to a singular meeting location.
Furthermore, it’s important to document the training your employees receive – even if its a casual encounter, have the employee acknowledge in writing that they have been trained on the topic you discussed.
Mentoring and guidance is something that isn’t always given as much attention as training. Marek reports that peer mentoring has huge benefits to both the new or less experienced employee as well as the more veteran staff member.
We encourage you to read the article in full here.
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