In the information age, where change is experienced very intensely and rapidly, enterprises’ need for talented employees is increasing. This shows that Talent Management should be adopted as a vision in human resources management.
In the globalizing world, the workforce structure is changing along with doing business, business processes, and management approaches. As a result, the expectations of talented employees, who are an essential element of competition, are changing, the demand for work–life balance is increasing, and the workforce is starting to globalize. In this case, it becomes difficult to identify and retain talented employees by attracting them.
What is Talent Management?
The concept of talent is the sum of individual skills and expresses the characteristics that make a difference for performance from the perspective of businesses. Talent is also represented by the word “aptitude” in the business world. Talent for business encompasses many aspects, from experience to leadership, from creativity to practicality. When it comes to talent, the following features are listed: Analytical Thinking, Digital Literacy, Persuasion, Multidisciplinary Work.
Talent Management means correctly defining the competencies and goals for the employee’s position who has professional qualifications and knowledge, planning a learning journey to improve his competencies, and making his development continuous. Talent Management, which can also be expressed as the design and implementation of HR processes as a whole, is at the top of the agenda of human resources departments.
How is Talent Management Done?
Talent Management refers to a process that covers multiple applications. It aims to bring a qualified workforce to the enterprise and ensure the continuous development of the employees. Therefore, identifying key positions and hiring the right employee is not enough. Talent Management consists of the following interrelated processes:
- Creating employee value to be a preferred business,
- To encourage talented employees financially and morally to stay in business,
- Developing Talent Management strategies in line with the business culture and goals of the business,
- To be able to define the positions that will provide competitive advantage and the requirements of these positions and to be able to determine the job,
- Identifying talents and creating a talent pool by categorizing the employees according to their professional knowledge, abilities, and experience,
- Organizing training to develop talent, diversifying and planning activities, and turning them into a “learning journey” for the development of employees,
- Assigning talented employees to appropriate positions and defining the necessary success criteria and targets for these positions to show the expected performance,
- HR metrics such as employee turnover, training completion rates, department–based open positions, and open position closing times convenience human resources units in Talent Management. Talent Management offers many advantages as a fair procedure that guarantees employee development. It is possible to ensure sustainability with a win–win process for both the employees and the business.
What are the Stages of Talent Management?
Although how Talent Management will be implemented varies according to the strategies and objectives of the institutions, the Talent Management application stages of the Human Resources departments are generally as follows:
The institution must first identify the position gaps and analyze what qualifications it wants an employee. At this stage, first of all, the employees in the institution are evaluated, and it is checked whether the sought–after talent is within the institution.
If an employee with the required qualifications cannot be found, employee competencies are determined, and action is taken accordingly.
Performance Evaluation in Talent Management dramatically contributes to both the employee and the employer. Regular implementation of performance appraisal; will positively affect the work done by both managers and employees. Employees need to receive regular feedback for their development. In this way, a more systematic and successful workflow will be ensured. Regular performance evaluation is expected to add value to the organization and increase the impact of the employee in business life.
- Finding the Right Employee
Finding and employing the right people in Talent Management is critical to the organization’s success. Therefore, the most important thing to do is ensure that the expectations are correctly conveyed to the employee candidate. In addition, it is essential to understand whether the candidate working in Talent Management has the required qualifications and can successfully fulfill the tasks needed for the role sought. Therefore, a predetermined and prepared Talent Management program will benefit companies.
- Post–Recruitment Assignment
The new employee must be guided appropriately for Talent Management to carry out successfully. Therefore, in the first stage, practical orientation training, presenting the necessary institutional documents, and explaining the task is very important for the employee to get used to the institution.
- Contributing to the Development of the Employee
Other stages of talent management contribute to the development of the employee. Every employee who feels that he has improved and his vision has expanded within the institution will increase his commitment to the institution he works for. The competencies of the institution’s employees should be made sustainable and more beneficial by organizing training programs at regular intervals. The development and success of the employees will pave the way for the development and growth of the institution.
- Ensuring Business Continuity with Successful Employees
It is essential to ensure the commitment of a successful and gifted employee to the workplace in Talent Management. Successful institutions, performance awards, social benefits, motivating speeches, and the employee’s appreciation will be advantageous for both the employee and the institution.
- Action to be Taken After Layoff
The last Talent Management link is when an employee is considering leaving the job. In such a case, an exit interview should be conducted first. Reasons for leaving the job, things did not go well, expectations were not met, etc. Actions should be taken to protect current employees by seeking solutions to questions and to be more careful for employees to be employed in the future. The relevant process should remain in the meeting, the top management should be informed periodically, and the actions to be taken closely.
Why Should Talent Management be Included in Business Processes of Companies?
First of all, the company that implements a strategic Talent Management system can find the chance to employ the most successful employees in the sector. Contributing to the development of employees with the Talent Management system helps motivate employees. This way ensures that the employees stay in the company and fulfill their duties successfully. Talent Management allows the employee to feel connected to the company and to work towards the company’s goals. In return, there is an increase in customer satisfaction and corporate performance.
“Talent Management” is Moving to the Cloud!
In the information age, change is intense and rapid. For this reason, corporate companies adopt Talent Management as a vision in human resources management. Therefore, knowing what Talent Management is and the stages of Talent Management is essential in taking firm steps towards the future.
Talent Management, which can be expressed as the design and implementation of HR processes as a whole, allows the right employee to work at the right time and for the proper wage. Thanks to its interconnected processes, Talent Management brings a qualified workforce to the enterprise and ensures the continuous development of employees.
Data–Centric talent analysis adapts facts based on enterprise–level data such as individual performance, number of employees, potential workforce use, staff turnover, and employee recruitment. It looks at what facts companies can offer them this adaptation, collects or slices HR data to gain insights about specific departments or functions.
Companies today rely more and more on sophisticated methods of analyzing employee data to increase their competitive advantage. Google, Best Buy, Sysco, and others are now beginning to understand how to extract the highest possible productivity, engagement, and loyalty from their talents and replicate their success. Suppose you want them to outperform your most excellent employees, who are probably your most valuable asset and most important expense item. In that case, you can do an excellent job utilizing Data–Centric analysis with your instinctive intuition.
As a result, Data–Centric talent analysis is not that different from a customer relationship analysis or Supply Chain Management Analysis. It begins with questioning historical facts and ends with the real–time positioning of talent based on rapidly changing needs.