Building an Effective Talent Management System

Guest post by: Ben Nash
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Keeping the Change Process Cool - By Ben Nash

Your organization probably manages its cash flow very carefully. After all, if you run out of cash you are in real trouble. But how about running out of talent? Does your organization manage its talent as carefully as its cash reserves? For most organizations the answer is “NO!” In these tough economic times attracting and retaining talented employees can be your key to competitive advantage. Organizational talent is the sum total of your employee’s knowledge, skills, motivations, abilities, and competencies. So, what can you do to get better at talent management? Here are six steps to build an effective talent management system:

Develop a list of your organization’s core competencies and identify the assessment tools for measuring them
Identify the competencies that drive success in individual jobs
Develop training and development solutions that support your organizations’ core competencies
Assess each employee’s core competencies and potential for future development
Assess new hire candidates against the core competencies so you hire the most talented people
Prepare and implement employee development action plans

Employee development action planning is a key retention strategy. Research shows that talented employees who see that the organization is interested in their development will stick around longer.

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Keeping the Change Process Cool - By Ben Nash

About the Author: Ben Nash

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Ben Nash is the editor-in-chief of DailyHRTips.com. He is the founder and chief developer of the blog, providing tech/design support as well as tips and book reviews. Ben has held many interesting jobs in his professional career, including: barista, landscaper, public policy intern, barista (again), professional horse wrangler, ski lift attendant (aka "liftie"), political science teaching assistant, marketing and sales assistant, and an ecommerce/web developer. He also doubles as the Creative Director at Aspen Organization Development Consulting. Ben has interacted with many people, in many different organizations and offers some interesting insight on the human resources game. You can read his blog at http://www.DailyHRTips.com and visit his website at http://www.AspenOD.com.

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Building an Effective Talent Management System

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