Creating an Effective Talent Management Strategy – Part 1

In my last blog I explained why having a Talent Management Strategy was important and the value that it can bring to your business.

The CIPD definition of Talent is:

"Talent consists of those individuals who can make a difference to organisational performance either through their immediate contribution or, in the longer-term, by demonstrating the highest levels of potential".

The first task is identifying your talent, by doing the following:

  • Identify what skills and expertise your organisation currently needs – Do you have the right skills to keep your clients happy, or enough people with those skills for smooth delivery?
  • Identify what skills and knowledge are needed to achieve your medium to long terms business plans – Are you planning to expand? Or Diversify? Is there new technology on the horizon?
  • Identify those individuals currently making a signification contribution to your organisation (especially those who have a unique skill, what I call a single point of failure) – don’t just look at your senior team, look throughout your organisation
  • Identify those with Potential to make a significant contribution to your organisation in the future – Who is displaying the values and ethos of your business, Who has shown their ability and desire to be great?

Depending on the size of your organisation, these tasks may take a while.

Stick to reviewing staff identified based on their current skills and knowledge, and their ability to develop into the skilled individuals that you will need for the future, not your gut.

The Vlog on this subject, can be found here.

Next week, we’ll look at part two of creating your Talent Management Plan.

Let us know how you get along and if you have any questions the comments section below