Let us look at some of the top talent management strategies for 2020.
1) Need Analysis for Talent Management Strategy – When you are looking at developing and implementing a new Talent Management strategy, the first and the most important thing that you need to consider is the need for reformation and building or new talent management strategies. Conduct a need analysis and find out the cause for implementation of a new strategy. Figure out the reasons and aspects that you would want to change and other goals and results that would like to achieve with a new strategy. Evaluate present situations and compare them with expected outcomes, this should help you with better formation of the strategy. A well-formed and researched strategy should take you a long way. According to research from Bersin & Associates, companies with highly effective talent management strategies, on average, achieve 26 percent higher revenue per employee and 41 percent lower turnover among high-performing employees.
2) Streamline Talent Management Processes – Talent Management is quite a lengthy and complex functionality that includes a number of different processes. Starting from sourcing the talent, recruiting, training, developing, promoting, and retaining, to payroll, attendance, benefits, and succession planning, an array of operations come under talent management processes. If these processes are not streamlined, they can cause friction in the entire talent management strategy. Hence, it is imperative to make sure that all these processes are in synchronization with each other, and function to their utmost efficiency.
3) Leverage Talent Management Solutions – Today, there is a wide array of talent management solutions available in the market. They can cater to specific needs, or end-to-end requirements, depending on the clients’ demand. Talent Management Automation is going to prove quite effective for your organization and your human resource, if you choose the right solution. You can evaluate the right-fit solution depending on the size of your organizations, your goal, your resources among many others. In fact, according to a report by Cornerstone, one of its clients with 3,000 employees realized roughly $21 million in cost savings and a 27% reduction in user support requests by automating their talent management processes.
4) Align Talent with Talent Management System –
When you are planning to introduce a new talent management system as a part of your talent management strategy, realize the one thing common between the two, it’s the ‘talent’.
Before the initiation of the implementation, identify what is it that your employees want from you and the system. Is it better training, development, succession planning, learning, or work culture? Hear them out, and align these with your system for most effective results. In a study by Business Know-How, of more than 3,100 U.S. workplaces, a 10 percent increase in educational development produced an 8.6 percent gain in productivity. This happens when you align your talent with your talent management processes.
Today, the world’s largest job delivery platform, eQuest, and AI powered recruitment platform Job.com announced a collaboration to promote and fill positions for a wide variety of mutual clients worldwide starting today.The partnership makes eQuest’s powerful job distribution platform available to Job.com clients seeking to find candidates in the global workforce.
Job.com users can access eQuest’s vast network to promote their open positions and recruit the best talent both domestically and internationally.
eQuest, which hosts over 250 million postings a year, will offer Job.com exclusive opportunities to fill positions for its host of legacy enterprise clientele.“eQuest is excited to partner with Job.com and looks forward to working together” said Nick Bradford, Director of Job Board Networks for eQuest.Job.com’s unique rewards-based economy makes it especially attractive to top-tier candidates.
The company uses powerful AI-based technology to intelligently match candidates with the employers and positions that best suit their goals and aptitudes.
Once candidates are matched and successfully hired through the platform, they receive a reward equivalent to 5% of their annual salary.“We are honored to bring our unique technology to eQuest’s ecosystem,” said Job.com CVO Arran Stewart.
“Our scalable solutions make us a perfect fit for every corporation, from the largest to the smallest.”With this new collaboration, Job.com will join eQuest’s roster of partners which include some of the biggest names in recruitment.
