4 crucial steps to efficient talent management

Efficient staff management often ends up being the initiative that unsuccessful companies failed to spend enough time on.

Employees are the key drivers of bottom-line growth given the right environment. They’re a clear source of value within an organisation that can sometimes be overlooked, but with the right talent management training, leaders can help further their professional development and achieve loftier goals. Here are four steps that can be incorporated right away to see better results:

1. Copy others and refine hiring channels

Understandably, effective hiring is the underlying linchpin between success and failure for many. Here’s something that should ease your nerves: You don’t have to create an entirely new and unique strategy. Evaluate recruiting leaders across a variety of industries and take the parts of their methodology that you think best adapts to your company’s situation, the Society for Human Resource Management (SHRM) reported.

Spend less time focusing on which job boards you’re posting a listing on and more on which avenues lead to the highest quality applicants. This requires implementing analytics and deciding what data correlates with the most value to the organisation. Referrals and networking events can be a gold mine for talented passive candidates too.

2. Constantly revise training

Onboarding has become so much more than having a new hire fill out paperwork. An effective strategy is associated with a 58 per cent greater likelihood that employees are with the company after three years, Click Boarding reported. This is important because turnover costs can reach as much as 300 per cent of the personnel’s salary.

Review your onboarding strategy every quarter to identify where there’s missing information and how it could be improved to help staff acclimate to their new surroundings quicker.

3. Potential needs nurturing

We’ve all had a new staff member join our team or project and instantly recognise their potential as a future leader at the company, but they need help reaching it.

Implement consistent training courses to help your staff reach their potential.

Invest in your own skills by taking team leader training courses so that you can figure out how to better educate your employees to get the most out of them. This should be an ongoing practice for both parties, and significant results can be seen in just a few years, according to Development Dimensions International (DDI).

4. Continuous performance management

The last tip is an easy one: swap out the yearly reviews for a strategy focused on regular feedback sessions. These can be as informal as you like, but the goal is to develop a constant stream of advice for employees. This way they can implement ideas on the fly, rather than having to incorporate a bunch of new methods at once.

Contact an ICML representative today to learn more about how to train your staff.