Talent Management is terminology that describes the process of employing people, developing their capabilities, utilizing and managing, and compensating their services in tune with the job and the organizational requirement. Collaboration on the other hand is a process where two or more people work together to realize shared goals.
Developing Your Talent Management Strategy
We all know that employee development and engagement can lead to decreases in employee turnover. Gallup reports that in 2003, that actively disengaged workforce may cost the American economy up to $350 billion per year in lost productivity not to mention the estimated turnover cost of 150% of the annual salary of every open position.
- Develop a Talent and Succession Planning Strategy. A solid talent management strategy gives your management team a guideline and helps secure the vision. Consider implementing a robust talent profile strategy to allow internal employees to showcase their skills and their experiences within the organization. This means talking to your people, learning about their career development interests, and how they see themselves fitting into your company’s culture as well as your team.
- Provide Training to Define Rules & Expectations. One of the most important ways to provide employees with opportunities to engage, develop, collaborate, and train is to provide a road map for success. Using employee-training programs during onboarding, quarterly training, or online training tools can help provide candidates insight into the development and leadership process and support the company’s overall mission and message. Expectations and roles change. Be clear, upfront, and forthcoming about changes. Don’t beat around the bush. Go to bat for your people, and they’ll likely do the same for you.
- Communication. Communication. Communication. Engagement happens only when there is a conversation. Encourage employee one on ones, skip level meetings or interviews, and messages that encourages conversations among employees, their supervisors, and leaders within an organization.
- Assess company culture and engagement from multiple angles. Not every employee sees the value that a program, training, or initiative from the same points of view. Our unique perspective is what makes an individual an individual. Acknowledge that by first working with pilot programs to work out the kinks before your organization launches a full-scale program to change the world.
Collaboration Management Within Your Talent Management Strategy
Unfortunately, there is no magic formula to creating an engaged workforce that invokes positivity, creativity, and the spirit of an organization. What may be more important is your organization’s awareness and recognition in the value of a new program or strategy that encourages collaboration, engagement within your Talent Management and Team Management Strategy.