March 18, 2012
Talent Management – Human Resource Practices
In current human resource practices, Talent Management involves modern methods to recruit, retain and develop valued staff for your organization.
In a competitive global economy it has become increasingly more important to place emphasis on people as the greatest resource.
Human Resource Practices – Identification and Organizational Scan
One of the first steps to building strong human resources is to have unit managers and executives review the organization’s human resources needs and to scan the existing human resource environment. As part of the core business planning duties, human resource needs should be identified as the elemental base. The human resources plan would be developed from the operation plan and would identify the budgetary resources required to fuel staffing costs.
As part of the planning stage, executives and human resource specialists scan internal staff to determine if employees are fulfilling the needs, and to identify employees that strive in the environment and have the potential to develop within the organization. Developing individuals within your organization helps build morale, lowers the human resource costs of acquiring on the outside, and helps retain corporate, business and operational knowledge.
Human Resource Practices – Recruitment
Internal talent identification and scans may reveal some deficiencies and the planning process may identify new needs (i.e.: expansion needs). There will always be a solid base of employees that are not retiring or leaving the organization anytime soon. Recruitment will become a necessity when your internal resources can’t meet your operational needs. However, through strong talent management or internal staff, turn-over rates and external recruitment would be kept to a minimum.
Human Resource Practices – Retention
As one of your most important human resources strategy, you should place employee retention as one of your top priorities. Existing veteran employees in operations and management help your business run smoothly and help make your business successful. As an entrepreneur you need to ensure you identify the people you need to retain. Those are the valuable employees that carry the operational efficiencies, best practices, and knowledge of the organization. Those employees are the ones that train and mentor new staff, and in an open environment, easily share and promote best practices.
Human Resource Practices – Development and Capacity Building
Now that you have identified and focused on retaining valued staff, your employee development human resources strategy needs to kick in. With differing operational and management levels in your organization, it will make logical sense to develop and promote your retained staff.
Capacity Building in your organization is key to building up operational, management and financial management skill sets of individuals. Through your environmental, human resources scans you have identified individuals who could be developed and would bring additional benefits to your organization in promoted positions. Developing key existing staff is cost effective for the organization and builds morale with your employees, as they consider this to be a key factor in job satisfaction and an important reason to stay with the organization.
Identification of valued staff, and retaining and developing those key players will help your organization be successful. Remember that successful professionals in your organization as the most significant, most important resource. Also remember that you, in your early career days, were most likely given the chance to gain and develop skills that came into play as a successful entrepreneur.
Business information, resources and tips for the entrepreneur
© 2012 Strategy Plan One
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