For as long as I have been in this business, the business of sourcing, screening and selecting great talent for client companies, I have felt that more could be done. I felt that those of us who do this type of work were only being allowed to do just so much in bringing great talent to an organization, and that once the offer to a candidate had been made and accepted, our role ended. This is especially true for 3rd party recruiters, but is also true for those of us who provide a managed recruiting solution, RPO service or some portion of the recruiting domain (sourcing, screening, selecting, Candidate Pipeline Management) for our client companies. We do Talent Acquisition and once a candidate becomes an employee, they (our clients) do Talent Management.
Turns out we, all of us in this business, have always been doing Talent Management. Talent Acquisition is not a separate function, but rather a critical part of the whole Talent Management Process.
In the book, Talent: Making People Your Competitive Advantage, Edward E. Lawler III, suggests that Talent Management doesn’t start the day the new hire shows up for work. He goes on to say that “companies that want to excel (and which company doesn’t) need outstanding talent. And to have outstanding talent, a process or talent management system, needs to be in place that will attract the right talent and help them understand exactly what to expect from their work experience with the company. This process or system needs to also provide employees with the developmental experiences that build the organization’s key capabilities and core competencies. And help them retain the right talent.”
Lawler continues to explain. “Put another way, effective talent management systems don’t just acquire and introduce highly qualified people to an organization – they ensure that the fit is right between employee and employer. They also monitor and manage an individual’s relationship with the organization effectively for as long as it is in the best interest of the organization to have the individual as an employee.”
Here are some of the key components of an excellent talent management system that will help you attract great talent.
- Employer Brand – What does your company do? Are you a manufacturing, customer service, financial, technology driven company? Then whatever it is that you do, it needs to be reflected in everything that a potential candidate would see or want to see. This includes your web site, job postings, marketing material, advertising, what your current employees say about your company etc.
- Actual Job Information – Not the canned boilerplate job descriptions that are all too commonly used, but actual job performance requirements; what is expected of the candidate, what it is like working for your company, what your own employees say about working for your company, and if possible a day in the life video of your company and the particular job.
- Perks – If your perks and benefits are better than most companies and especially your competitors, then flaunt them. Not every perk will appeal to every candidate but if they are that good then let your candidates know.
- Employment Contract – This is not a legal document, but rather a statement of what your company promises the employee and what in turn is expected of the employee. Nothing like having something in writing when it comes time for employee review. Did your company keep its side of the agreement? Did the employee live up to his/her part as well?
- Critical Skills Alignment – Can you identify the most important positions in your company? If the success of your company is dependent on great customer service, then your talent management system should reflect the importance of those positions. The same would apply if your company’s success hinged on developing cutting edge, innovative products.
- Making a Deal – What is most important to your employees? Some would say salary, some would say benefits (health), some would say flexible working hours, some would say training, opportunity for promotion etc. But not all of your employees would say the same thing. And what would make them take a job with a competitor or go elsewhere? If you want to keep your talent, you need to know what is most important to them and what would keep them from leaving. Make a deal with each one.
Companies that want to excel need to have a talent management system that allows them to attract, hire and retain the very best talent. Take a look at your own company. Are you able to attract, hire and retain great talent consistently? Do you have a system in place that is always on, and not just on when you have an immediate need, or worse still when one of your key employees decides to leave?
Our company, Q4B – Quantum Solutions for Business, is in the Talent Management business with an emphasis on talent acquisition
I like the sound of that, don’t you?