What strategy does your organisation adopt when recruiting, managing and nurturing talent within the workplace? Firms often focus on finding the most efficient ways to use their financial capital but are guilty of neglecting their human capital. Understanding the benefits of talent management can help your business realise the unique potential, skills and interests that your employees have and help them reach their goals within your company.
A recent study from The Center for Creative Leadership outlined the various benefits of developing both personal and professional skills and how this influences the workplace. The research identified high potential employees as having a very encouraging impact on their co-workers through their ability, organisational commitment and motivation. Therefore, having a reliable talent management system in place can enhance and support your management efforts. An effective talent development strategy is paramount for retaining your top talent so without a plan you could run the risk of losing your best and brightest to your competition.
When building talent management programmes, it’s important to consider several different factors for a successful approach. Firstly, you should possess an agile HR operating model where your workplace has leaders who are knowledgeable in several areas and not just human resources. Having this kind of knowledge and experience in roles such as line managers means they are 1.8 times more likely to have a broad understanding of the business priorities and strategy.
To gain a comprehensive understanding of the talent management process and the benefits which could aid your businesses progression, take a look at this Guide to Talent Management from Sage.
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