Talent management as a Competitive Advantage
For most industries, their payroll is their biggest recurring expense. It is practically logical for the company to optimize this monthly investment.
However, refining talent management practices in organizations is not a panacea, but a multilateral strategy that addresses the challenges of at least four key areas, namely: performance management, recruitment and leadership development, training, and bottom-up communication. You can also check the 2022 LDP SUMMIT AGENDA online.
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The starting point for your talent management journey can be to begin by reassessing hiring practices and asking tough queries about the end-to-end process.
Hiring capable and motivated employees who fit the company culture is of utmost importance.
Anyone can hire someone to get their job done, but special knowledge and tools are needed to hire the finest people who are most likely to succeed rather than jump on board at the first opportunity. A great hiring process brings very complex dividends.
Talent development after recruitment
Employees without training goals and challenges are overhead, while employees with training goals and opportunities value assets.
The manager's job is to help each of his employees to be as successful as possible. Managers are only successful if their employees are successful.
The manager fails whenever one of his employees is absent. Managers need their people more than they need them. You can do work without a manager, but not the other way around.