Successful Talent Management Strategies From Hire To Retire
A holistic approach to retention
Posted on 12-18-2023, Read Time: 5 Min
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Retention, Retention, Retention
Unsurprisingly, the conversation around talent management would lead off with retention. Retaining talent has been an ongoing challenge AND opportunity for organizations to grow and learn.According to recent data from Korn Ferry, 24% of employees think it will be normal to stay at a job no more than two years. Korn Ferry suggests employers should build more “purpose and certainty into their work.”
What exactly does that mean? How do an organization and its leaders BUILD in purpose AND certainty? While we can’t always predict the future of a business or the global economy, we might have more control over the purpose aspect.
Purpose can mean so many things, from:
- The content of my work is something I am connected to.
- The mission of the organization aligns with my values.
- I see the direct impact of my work making a difference.
- I thrive in the current culture and want to continue growing.
What does this mean for talent management leaders?
1. As early as the hiring process, a job description must include tasks, competencies, values, and behaviors. Job descriptions need to become more “human.” Instead of saying, “Must possess a drive to lead and inspire others, " consider “Seeking unique leadership perspectives that contribute to our culture and reflect your values.” In the second statement, the job seeker becomes PART of the process rather than just an observer of bullets.2. During the hiring process, those involved must also detach from exact replicas of the previous person in the role or their “ideal,” hidden talent floats right by because we are only looking for what is on this list of bullets and not asking ourselves “What is unique about this individual that can shape this role to go beyond what is outlined in the job description.” Creating ownership ignites a sense of meaning and purpose.
3. If you want to retain that talent once they are onboard, the key here is critical and ongoing leadership development for all people managers who are not just implementing a training or program with a leadership title on it. Leaders must be in an ongoing conversation about reflecting the organization's values and be held accountable for the behaviors that align with those values. A solid leader can help drive the presence of purpose with individuals and teams because their purpose also drives them.
4. Cultivate leadership in EVERYONE. Too often, talent managers associate leadership development ONLY with people managers. Leadership, having nothing to do with a title or having a team, can be critical to growing within individuals to create teams that thrive. This means providing access to development, coaching, training, team development, and experiences that grow people. When an individual feels like they are growing and making progress, they connect to the content of their work and the current culture simultaneously.
Combating Ageism
According to recent data from iHire, 23% reported experiencing ageism on the job. Of that 23% who experienced ageism on the job, over 40% shared that a younger or less experienced employee was promoted instead of them.This story revolves around the lost talent management opportunity to capitalize on experience and institutional knowledge and the opportunity to create mentoring relationships to bridge the gaps across generations and create more cohesive teams.
In the past several years, DEI efforts have focused less on this critical inclusion topic. Ageism in the workplace needs more airtime and awareness and deserves the same spotlight as any other diminished group.
Talent Strategies for Creative Age-Inclusive Work Cultures
1. Look for opportunities to create formal and informal mentoring relationships. This can be built into onboarding or part of leadership development initiatives. Having a mentor in one’s organization but NOT a direct manager or even in one’s department can also help build cross-functional understanding while leveraging the invaluable knowledge that more seasoned talent possess.
2. Scan your policies and DEI efforts for specific directives on ageism. Define it. Talk about it and bring it to the consciousness of your organization through direct and live communication through all-hands meetings. Do NOT address this only in an email or written message. Leverage the courage to talk about important issues and create the necessary awareness.
3. Invest in the ongoing development of more seasoned team members as you would invest in a more junior individual. Too often, organizations focus on developing new talent and create an imbalanced talent development strategy. Survey seasoned employees on their needs and create opportunities that meet those needs.
4. Invite seasoned talent to share lessons learned, best practices, and other valuable content in internal communications and meetings, and include recognition efforts that celebrate years of services to bring visibility to the value of building your career within your organization.
2. Scan your policies and DEI efforts for specific directives on ageism. Define it. Talk about it and bring it to the consciousness of your organization through direct and live communication through all-hands meetings. Do NOT address this only in an email or written message. Leverage the courage to talk about important issues and create the necessary awareness.
3. Invest in the ongoing development of more seasoned team members as you would invest in a more junior individual. Too often, organizations focus on developing new talent and create an imbalanced talent development strategy. Survey seasoned employees on their needs and create opportunities that meet those needs.
4. Invite seasoned talent to share lessons learned, best practices, and other valuable content in internal communications and meetings, and include recognition efforts that celebrate years of services to bring visibility to the value of building your career within your organization.
While we cannot solve every talent management problem at once, we can commit to the most important things to creating organizations that thrive. Identifying key people development OKRs semi-annually or quarterly can help talent leaders focus efforts, energy, and resources to fill gaps and leverage every organization’s largest and most valuable asset - their people.
Author Bio
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Stephanie Licata, M.A., A.C.C. is a learning and leadership strategist and coach who thrives on helping organizations create workplaces that work for everyone. She has trained thousands of Cloverleaf users at all levels to maximize the platform's potential. In addition, she has trained thousands of leaders across several industries in the art and science of coaching for developing individuals and teams. |
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