Today, more than ever, JFK’s words could not be more true. In today’s current political and economic situation in the world, especially in the Middle East, the changing expectations as well as the rising demand for competent local talent in emerging countries, a unified and integrated Talent Management strategy, becomes now more important than ever.
There is no room for comptonizations when it comes to developing and executing your organisation’s Talent Management Strategy, in an all-endearing and well planned & executed methodology.
WHY AN INTEGRATED TALENT MANAGEMENT REALLY MATTERS?
According to a study by the Hackett Group, companies that are pioneers with an integrated talent management strategy usually report earnings that are 15% higher than their industry counterparts. For the average Fortune 500 company, this improvement in performance can translate to hundreds of millions of dollars’ worth of additional profit or revenue.
A unified Talent Management strategy really matters.
- Current political & economic challenges are creating fluctuations in the labour market, with an expansion of employee experience to accommodate a complex workforce, also taking into consideration how the employees’ life cycle within organisations may impact life outside of their jobs and requiring a more holistic approach to affecting how people feel about working in their organisations.
- A focus on individuals’ needs to enhance themselves and their career with the organisation amongst a world of employee experience-driven employer branding has become critical, and the importance of an aligned and strategically oriented Talent Management approach is key, highlighting this throughout all of its separate functions. Otherwise, all internal initiatives will appear fragmented and not driven by a clear and obvious direction towards enhancing internal talents’ professional and personal wellbeing.
- As a result of the above, the world market is experiencing the current outcomes of “the great resignation” and the massive loss of talent. These new challenges make it increasingly difficult for organisations to capture both the ‘hearts’ and ‘minds’ of today’s workforce. However, if managed effectively, with an intelligently unified talent management strategy, employees will feel empowered, supported and part of something bigger – something employees will be motivated and willing to contribute to. At the same time, by managing talent strategically, organisations can develop a high-performance workplace, by effectively building on their internal talent pool. As a result, the ability to effectively hire, but more importantly retain, deploy, and engage talent at all levels, can become a true competitive advantage in today’s market. This is the reason why successful HR professionals have as their key priority to implement an effectively aligned and integrated talent management strategy!
WHAT IS INTEGRATED TALENT MANAGEMENT
Through both experience and extensive research, TTM defines talent management as a mission critical process that ensures organisations have the quantity and quality of people in place to meet their current and future business priorities. The process covers all key aspects of an employee’s life cycle including Selection, Development, Succession and Performance Management.
This concept can be defined with the slogan:
INTEGRATED TALENT MANAGEMENT: KEY CONSIDERATIONS
Developing a Talent Strategy begins with a clear understanding of the organisation’s current and future business strategies.
An organisation’s talent management process must be executed by experienced HR and Talent Management professionals who develop a close relationship with the company and become trusted business advisors.
Moreover, developing SUCCESS PROFILES, will help an organisation to identify what successful talent looks like from an organisational, structural, and functional point of view.
The key to success is Competency-Based Integrated Talent Management!
This entails the identification of the key gaps between the existing pool of talents and the talent required to really drive business success.
When it comes to filling those gaps, hiring the appropriate talent with the right competencies and making promotion decisions that are aligned with the business strategies, is more efficient than developing competencies in existing staff.
Moreover, it is critical to relate individual and team goals to the corporate goals, and provide clear expectations and feedback, to manage performance.
Another critical factor in talent development is for HR expert to clearly understand the differences between Talent Potential, Performance Management, and Talent Readiness. This will make the process of enhancing performance in existing positions, and the organisation’s ability for Talent transition and promotion to the next job level, more effective and aligned with Business goals.
Technology-based Software should support the process, but it cannot stand alone.
TTM’s Total Talent Management Methodology takes into consideration the best practices in integrated talent management that can help your organisation.
First, we start with clearly understanding your Business Context to develop your organisation’s Competency Framework.
Armed with Whole Brain Technology®, TTM can help to develop the Talent or Job Success Profiles that will enable your organisation to recruit the right calibre of talent, assess existing employees, spot the current performance gap, develop talent utilising your current technology or recommend a HC technical platform.
We strive to Make a Difference in your Business World!
