Why a Talent Strategy
"Ultimately, the businesses that are going to win in the war for talent, are those that accept the challenges and opportunities presented, and adapt to a new way of recruiting..." Real Business
Talent management is not about paying higher, it is about a complete company wide strategic approach to people, focusing on them as the key strategic asset of a company. Its a different way of thinking about the total value of human capital within an organisation.
In advanced economies the battle for talent is what drives the exceptional from the simply outstanding. Using talent to drive your organisation is becoming an increasingly viable option for brand leaders across an ever wider range of industry sectors to create a sustainable competitive advantage within businesses. The strategy of targeting the best talent, acquiring it and then developing it to enable their organisation to effectively outcompete their competition on more than product and service.
It requires firstly operational excellence within the Human Resources department to be successful, ensuring they are aligned with the organisations strategic goals coupled with an integrated approach to talent management. This integrated approach requires Human Resources to proactively work across the organisation rather than respond to it. Developing talent at the top end drives up not only the top performers but also raises the bar for all employees. A talent management strategy is about raising standards of excellence throughout an organisation not just for the high flyers.
"If you hire people just because they can do a job, they'll work for your money. But if you hire people who believe what you believe, they'll work for you with blood sweat and tears" Simon Sinek
Talent is a Culture
Organisations which are reactionary to recruitment are increasingly suffering from the inability to win the top talent as peer review and social media drive the agenda of knowledge way from the company to its employees and directly to core target employee groups. This social media shift results in the control moving from how organisations wish to been seen as, to how they are really perceived by potential talent. No matter how big your brand or your marketing budget your reputation is what matters to knowledge rich target audiences.
Talent strategies focused around creating world-class performance require increased focus on the development and performance of employees. That dedicated investment in strategic workforce planning creates effective resource planning aligned to strategic goals, rather than tactical ones which often leads to significant savings in staff and skill investment. Investment in skills which directly contribute to tangible strategic goals rather than abstract ones. In highly competitive markets, your business culture is often the key factor in achieving talent acquisition.
Strategic Talent is the Future