Principles in Talent management is based on the belief that investment made in employees is necessary and will invariably bring substantial benefits to the organization. Planning an effective global talent management strategy is a task in itself, as rightly said by Peter Drucker – Efficiency is doing things right; effectiveness is doing the right thing”. Clearly, just deploying a policy won’t be of great help but an effective one which understands the employees and the workforce environment.
One of the biggest challenges that a company usually face it’s that of building a consistent talent management strategy which benefits one and all. No doubt there are continuous changes in business policies, at times government, for which the human resource manager need to change their talent management strategies as well. In addition to following the given set of rules, there are six core principles which a human resource leader needs to follow, and here are those six principles.
Alignment with strategy: Under this principle, the core responsibility of the human resource leader is to judge going by the strategy, what kind of talent do the organization require? At any point of time, it is given that you need to place the right person at the right job. However, you need to be flexible with your strategy, since there are many internal and external factors which can compel you to change the way you plan.
Internal consistency: If you want to be successful, you have to consistent with your talent management strategy. Going strong once and then taking things slow, won’t be a great way of talent retention. Pay continuous attention to your talent pool, talent management strategies don’t work in isolation.
Cultural embeddedness: Never has been there much pressure on organizations to retain and maintain culture. A global talent management team designs their strategy and policy aligning the core culture of the organization. Nowadays, it’s been taken into serious consideration, to include your core value in talent management process. A new talent coming on board should be very clear about the organizational values and culture and needs to fit themselves to the same mold. Obviously, the talent management team is always there to help you imbibe that culture.
Management Involvement: Any talent won’t be really happy to know about their review from the HR, although that is equally important. But if the manager with whom a person is coordinating provides direct reviews, it has a complete different effect. So, involvement of the manager of different level can prove to be beneficial in designed a holistic and comprehensive talent management process.
Balance of global and local needs: As we know, there is always a difference in culture between two states, and countries also for that matter. With multinational companies, operating in various continents and countries, it has been to of utmost importance to imbibe the culture accordingly.
Be Different: The best way for talent retention is to give answers to your employee as why are you better than you competitor. You should be ready with the answer to the question which might come wagging up. Being different on a positive note only adds to the brownie point and help talent management team to attract employees and retain them.