Maximizing Potentials: Talent Management Strategies in the New Normal

Hiring people is often easier than retaining top talent.

According to LinkedIn’s 2018 Workplace Learning Report, 94% of employees are likely to stay longer in a company that’s invested in their professional growth. When employees are engaged and given opportunities for their development, they are more likely to stay and contribute more valuable ideas. This data insight speaks volumes of how the recruitment and onboarding process should always be a top priority for businesses to avoid high turnover rates.

But as the pandemic continues to alter work dynamics, leading to the popularity of the phrase “The Great Resignation of 2021,” how can HR professionals step up to the challenge of both attracting and retaining top talent, which has long been a struggle for most organizations?

In a recent conversation we’ve had with Jacqui Maguire, head of talent at Headway, she talked about the new and constantly changing talent market and why recruiters should revisit learnings from the old normal to help them gear up for the new one and beyond. 

Developing a Talent Management Strategy

Aside from helping employees power through work modifications and taking care of their safety, here are ways to build a plan in sourcing and retaining talent to ensure the business’s long-term progress.

1. Look for recruitment needs and gaps your company might be having.

The pandemic massively impacted many industries such as hospitality, retail, and those on the recreational side. The need for people of each industry varies, so there is no one-size-fits-all approach to talent acquisition. In creating your talent management plan, determine your most significant job type needs first–be it full-time, part-time, or project-based. 

A part of this is looking at your existing talent pool and hiring internally for vacant priority positions—conduct a performance and skills assessment and build an L&D plan around it.

2. Create opportunities for career development.

In the same report referenced above, 56% of employees say that they are willing to spend more time learning if their manager suggested courses for skill development and improvement. These learning opportunities will prepare them for career advancement in the future and keep them from stagnating. At the same time, it will help you address skill gaps as you build your talent management plan.

3. Give utmost importance to employee well-being and engagement.

A healthy workforce is a productive workforce. As hybrid work setups make employees susceptible to burnout, they develop HR initiatives to liven up a company culture, bring back a sense of connectedness within the organization, and engage employees even as they work from their homes.

4. Attracting new talent can go beyond zip codes.

Remote hiring and virtual onboarding platforms have made it possible to broaden your search for new talent and connect with potential employees, wherever they may be in the world. It has also become easier for recruiters to give candidates a glimpse of the company’s employee experience—even AI now has a role to play in reviewing employee assessments and filtering job applications. 

No business will grow without a skillful and motivated workforce. In such an uncertain and competitive business landscape, it is essential to invest in talented individuals who can help you grow your business for the long term. Always gather feedback from your employees, and enable your HR team to build a talent management strategy that aligns with business goals and needs.  

Save your spot today to hear more from Jacqui and the rest of our speakers for our Spotlight on Human Capital event.

 

Photo by Christina Wocintechchat via Unsplash.

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