Congruent Talent Strategy: Align with Your Business Strategy
Transform Your Talent Strategy to Business Results
Many recent studies show CEOs are acutely concerned with issues associated with the employee lifecycle: acquisition, development, career management, retention and succession planning. According to Deloitte Global Human Capital Trends 2015, “87% of companies rate ‘retention, engagement and culture’ as an important imperative and 50% rate it urgent.” The reasons are varied, and include but are not limited to:
- The rapid emergence of the “knowledge economy”
- The quest to find and keep top talent
- Loss of knowledge and experience from baby-boomer retirements
As a result, it’s imperative to develop a talent management strategy that is congruent or aligned with your business strategy. There are two simple steps you can take to get you on the right path to developing a congruent talent management strategy.
Step 1: Last month we discussed culture and its importance when constructing a talent management strategy. Culture fit is the glue that holds an organization together. That’s why it’s a key trait to look for when recruiting and hiring.
But don’t stop there. Identifying and assessing the core competencies that reflect your culture is an important first step in developing a congruent talent management strategy. The benefits of doing so include:
- Developing and nurturing top performers
- Defining and measuring expectations and results
- Building better leaders from within
Step 2: The next step is to connect your organization’s strategic plan and goals or Key Performance Indicators (KPIs) to individual objectives to create a clear connection between employees’ work and your organization’s strategic objectives. The results of doing this include:
- Everyone in the company can operate better and contribute more than the year before
- Everyone knows where they fit into the big picture
- Everyone can see how their contribution towards departmental goals achieves company goals
- Talent management activities are given the organizational importance they should have.
You want to do what you can to maximize your talent potential every single day. Having a congruent plan is another important piece to building a talent strategy which can translate into business results.
Jackie Messersmith is President and CEO of Talent Management LLC. Talent Management is the developer and distributor of Talent Snapshot®, an integrated, competency-based, “in the cloud” talent management solution. Jackie can be reached at 513-528-9700 or firstname.lastname@example.org.
Talent Snapshot® – Talent Management Made Simple. www.talentsnapshot.com