What is Talent Management anyway? Talent management is a focused process on the employee life cycle with your company from hiring to exit and everything in the middle.
It’s interesting to think that your employees are your most costly and valuable resource; the way that many companies hire, nurture and grow employees is often very haphazard and occurs with little or no thought whatsoever.
The most common approach to talent management is to simply replace an employee that has left the company with another new employee or promote a person into a key role because of the length of time they have been doing that job or due to favoritism. Here’s a hint: this is not talent management!
Why is Talent Management so important?
Talent management involves the selection and hiring process, onboarding, development, retention, promotion, and exit (this can be for many reasons). HR Catalyst can assist in every aspect of the employee life cycle depending on your specific company’s needs. Think of Talent Management as an overall umbrella that includes these categories:
- Strategic Employee Planning
- Talent Acquisition and Retention
- Performance Management
- Learning and Motivating
- Career Development
- Succession Planning
Benefits of Talent Management for Your Company:
- Recruitment is more effective and proactive
- Hiring and On Boarding go more smoothly
- Company culture is preserved and defended
- Your team is better aligned
- You reduce employee turnover
- Creates meaningful career paths for employees
- Retain and engage Top Talent
- Identify top and bottom performing employees
Our Approach to Talent Management
HR Catalyst does not do employee recruitment, but we teach our clients how to hire in a better and smarter way than they typically do. We help our clients create accurate job descriptions to make sure they are attracting qualified candidates who can actually do the job. We devise processes to promote employees who have demonstrated the ability to take on added responsibilities. We also train leaders how to interview better and do behavioral interviews based on the core competencies employees will need to perform their jobs well.
Lastly, we help clients create a well-defined disciplinary action process to work on raising the performance of lower performing employees through employee coaching. Our approach is focused on increasing the employee’s performance, but the reality is that some employees may exit the company if they can’t meet performance expectations. In that case, the entire process will be done in a legally sound and methodical manner.
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