Acquiring, Retaining & Developing Talent

Acquiring Talent

In this stage of methodology, the organization promotes its values to attract talented people to apply and join the organization. It includes interviewing, selecting, and onboarding employees.

⦁ Attracting − Organizations promote their culture and values to attract talented and skilled people from the industries to work with.
⦁ Recruiting − A recruiting brand reflects the core values of the organization and communicates the advantages of working for the organization.

⦁ Selecting − This process involves multiple steps such as interviews, tests, and background checks.
⦁ Employing − It is the final stage of hiring the skilled and talented people in the organization.

Developing Talent

It includes talent management readiness, career development and training, performance management, and coaching and mentoring. These are the core objectives of this phase.

⦁ Talent Readiness Training − These competencies help the organization attract, identify and develop talent.
⦁ Career Development & Training − Training program is useful for upgrading talent and skills of the employees and prepare them for future challenges.

⦁ Performance Management − Performance management incorporates setting goals, giving performance reviews, and providing feedback.
⦁ Coaching & Mentoring − Coaching and mentoring develops talent by encouraging people to excel at their work and to learn on the job. These techniques engage people on a more emotional level.

Retaining Talent

The longer you retain talented people in your organization, the greater the return on your investment. Retaining, the fourth phase of methodology, is to define several strategies that can help retain talent.

⦁ Long-term Incentives − Long-term incentives such as stock options or paid vacation or other benefits increasing over time can encourage employees to couple their careers and personal goals with a long-term commitment or association with the organization.
⦁ Career Planning − This involves providing genuine opportunity for advancement to the employees to retain talent in the organization.

⦁ Flexible Working Arrangements − When working arrangements are inflexible and fixed, the options available to employees are limited – forcing them to choose between staying with or leaving an organization.
⦁ Talent Culture − Positive work environment is a key factor to retain talent. Management needs to monitor these levels of satisfaction so they can forestall problems before people leave an organization.