Hiring practices that prioritise finding the best culture fit or looking for talent in the same old places often undermine efforts to boost diversity and creativity.
Great managers are often experts in their field with a proven track record of success. However, leading and managing people are an entirely different ball game. Managers need to hone another skill that, unfortunately, is often overlooked: talent management.
The ability to identify talent, motivate employees, and find the best roles for each employee is crucial to running a successful team. In short, great managers are also great talent scouts.
Being a great talent agent comes with challenges. It requires leaders to become more open minded and to say goodbye to outdated, though popular, hiring tactics. Too many of us follow the popular trend of thinking that the “best hire” is the one that fits our culture. This approach undermines all the efforts made to boost diversity and ultimately get in the way of achieving creativity and innovation.
In this post, we are going to look at what talent management really means for an organisation and how leaders can find the talent for their companies and manage them the right way, too:
What Is Talent Management, Really?
Leaders and executives can define talent management in different ways, but at its core, it is the process of identifying and developing talent.
It is about a business’ ability to hire and retain the best staff and ensure that it has a healthy talent pool. It’s about finding the people who can tackle the business’ biggest challenges, support its goals, and drive its success. It also means making sure that your employees have the skills to get the job done and the potential to grow even further.
Talent management is about transforming an employee into someone who will drive the success of a company.
Why Is It Important?
Talent management is not just a buzzword. It is not just another term that leaders use to talk about the staff they need to get the job done. It’s the critical process that businesses need to understand if they want to thrive in today’s competitive marketplace.
Talent management is the heart and soul of a business. This process helps leaders ensure that they have the right teams in place to achieve their goals.
It also ensures that companies have the right resources at their disposal to make the most of their existing resources, and achieve their vision and goals.
How Can One Find the Right Talent and Manage Them Successfully?
Here are steps leaders need to take to become great talent scouts:
If you are a leader, you need to be forward thinking. You need to think about what you need now and in the future, and ensure that you have the right talent in place to achieve your goals.
This means that you need to look beyond your networks, beyond your usual hiring practices, and find a different perspective.
Take the time to look into your hiring practices.
What kind of talent is being hired?
What kind of talent are you missing?
What does your hiring process look like?
Are your current hiring practices helping you succeed or holding you back?
Depending on the answers to these questions, you'll be able to make the necessary adjustments.
Prioritise People Who Are Already in Your Company
If you want to make better hires in the future, you need to start by looking at your existing employees. You need to see the talent that is already in your company and make the most of it.
Use the following steps to find talent you already have:
Embrace and Encourage Diversity and Inclusivity
We have all heard about the importance of having diverse teams. But can you really achieve diversity in your team if the hiring process is not diverse? Diversity and inclusion are no longer buzzwords. They have become the norm and they have been integrated into business strategy.
If you want to get the best out of your employees, you need to embrace diversity and inclusion in your business. Here are a few tips to help you build a more diverse, inclusive, and productive team:
You need to start tracking performance, measuring performance, and finding the right talent for your company based on data-driven insights.
What are your top performers' skills and expertise?
What do your best performers have in common?
What skills do you need to fill the gaps in your team?
You need to focus on the skills and knowledge of your top performers. Use this information to fill the gaps in your team and counter any weaknesses. You can use these insights to build a strong talent pool and create the right team to take your business to the next level.
Do What You Can to Help Your People Be Better
At the end of the day, you are not just a talent scout, you are a leader. You are responsible for helping your people get better. Remember that your primary goal should be to help your people grow.
But you cannot force your employees to develop if you do not provide them with opportunities to learn.
Your employees need to see that you are willing to work with them and listen to them.
Simply put, you need to make sure that your employees can see that you care.
Leaders and managers should think about talent management as a process rather than an event.
It means that leaders should be actively looking for the right talent and nurturing existing talent in their companies. It is a process that takes time, patience, and effort, but it is worth it.
If the leaders in your company do a good job of managing and growing talent, they will save themselves a lot of time, money, and headaches in the long run.
The good news is that you don’t have to figure out all there is to know about being a good leader and manager on your own. You can seek the help of a reputable business consultant and equip yourself with helpful resources, too.
Stuart Andrews is a reputable business coach in Australia who can help you unlock your potential and develop your leadership skills. Apart from signing up for an executive coaching program, you can also get a copy of the newly released book, The Leadership Shift: How to Lead Successful Business Transformations in the New Normal where you can get applicable tips from a seasoned business consultant. Find out more by contacting Stuart and grab your copy of this amazing and insightful book today!