Baby boomers are retiring. Waves of knowledge and experience are leaving the workforce. Critical skills are in short supply. Leadership is the driver of business performance. Do you know where your talent is?
Understanding what you have for talent, what you will need for talent, and how to close the gap between the two is at the heart of Talent Management. It requires coordinating a number of disciplines - recruitment, development, deployment, succession planning and retention – so that they are aligned with the business objectives of the organization.
Done well, a talent management system can:
- Significantly reduce the turnover
- Decrease money spent on high-priced headhunters freeing up money to spend on valued employees
- Preserve institutional knowledge thereby increasing your organization's ability to succeed
- Keep your company above the fray of an increasingly competitive recruitment market
- Ensure that lack of talent does not grind your organization's success to a halt.
WSA's Approach
Our approach to talent management is based on the belief that talent should be a differentiator for organizations. The Companies that know how to attract, nurture and retain critical talent will enjoy a phenomenal competitive advantage as the pool of high-quality professionals becomes ever smaller over the next few years.
Achieving and sustaining that competitive advantage requires a systemic approach to talent management, making it an integral part of the organization and not something relegated to annual review time.
5 Phases of Systemic Talent Management
- Business Goals & Strategies: Understanding your current and future business goals is the first step in creating a powerful talent management system.
- Talent Profile: What skills and experience in your employees and managers do you need to accomplish your goals?
- Talent Audit: What type and quantity of people do you currently have?
- Closing the talent gap: What is needed to close the gap between your current talent resources and your future talent requirements?
- Talent Management Processes: How do you identify, recruit, develop, deploy and retain the right talent to insure you always have the right people to deliver on your corporate goals?