Talent management: Five measures that work

Talent management helps to fill critical positions in your company with the best possible candidates. Here are five practical tips on how it works.

Talent management, as a buzzword, currently seems to be on everyone's lips in the HR sector. But what exactly does it mean? In this article, we provide a simple explanation of what talent management is, what advantages it offers you, and share five measures you can implement for successful talent management in your company.

What is talent management?

In principle, all talent management strategies are based on the same simple assumption: your company's success depends on how well you manage to fill key positions with high-performing employees.

That's why talent management measures have a clear goal: to identify positions in the company that are critical to success and fill them with suitable candidates – like a soccer coach trying to put together the best possible team. To achieve this, talent management relies on a wide range of HR and communication measures: from recruiting and targeted training to comprehensive employer branding.

Why is talent management useful? 

Talent management allows you to focus on key issues in your human resources management. These could include, for example:

• Which positions are particularly critical to your success?

• Do they already exist or do they need to be created?

• Are they currently filled?

• Do the (current or potential) employees in these positions have everything they need?

• Are they sufficiently trained?

• As an employer, do we make an attractive offer to potential applicants?

Talent management thus helps you to address current challenges in a targeted manner.

On the one hand, it enables you to no longer just react to the shortage of skilled workers, but to tackle it systematically. By consciously focusing on first filling positions that are critical to success, you can make your HR measures particularly efficient and results-oriented.

On the other hand, you can address potential skill gaps in your company in a targeted manner. You don't just ask which positions are critical to your success today, but which ones will be critical in the future. This allows your company to build up the necessary skills at an early stage.

Five helpful measures for successful talent management 

The following five measures will help you find, retain, and develop genuine high potentials.

Step #1: Employer branding 

Talents have high expectations of their work and their employer. They want to have a positive impact on the world, preferably under ideal conditions. Because they are sought-after employees, they can usually choose their job.

For your company, this means that talents don't just apply to you—you also apply to them. That's why you should work intensively on your employer brand as part of your talent management. Invest in your image as an empowering, meaningful employer who offers something to its employees. This will convince skilled workers and set you apart from your competitors.

Measure #2: Candidate experience and onboarding 

To convince talented candidates, you should make a good impression during the application process. It is now common for skilled workers to apply to several potential employers simultaneously. This means they will compare you directly with other companies. In addition to concrete benefits such as salary, “vibe” also plays a decisive role. Therefore, make sure that high potentials feel comfortable, taken seriously, and wanted during their application process (such as during interviews).

Also, invest in successful onboarding. Talented individuals will continue to evaluate your company even after they have signed their contract. For them, the probationary period is not just a phase in which they want to prove themselves. They also want to see whether you really suit them as an employer and keep your promises. If their expectations do not match their experiences, they will quickly look for something else.

Measure #3: Referral programs 

Birds of a feather flock together. Talented employees often know other high potentials, usually, from their last job, their training, or their studies. That's why referral programs are particularly valuable for talent management strategies. These programs encourage employees to recommend suitable candidates for open positions. Some programs also offer a (financial) reward in the event of a successful referral.

The special appeal of referral programs is that they also strengthen your employer brand. After all, nothing convinces talented employees more than positive word-of-mouth from someone they like and respect.

Measure #4: Education programs 

You don't always have to look outside your company to find new talent. Sometimes, it lies hidden right there within your current team. Education and training play an important role here. Even if employees feel confident about taking on a new task in principle, they often want to be properly prepared. Without appropriate training (and a corresponding salary increase), new tasks can quickly feel like you are simply burdening employees with more work without offering anything in return. That's why it's essential to talk to your team about which employees can imagine taking on a new role – and what training they would like to receive in order to take it on with confidence.

Measure #5: Succession planning

Are there experienced employees in your company who may be leaving in the foreseeable future, for example due to a parental leave or retirement? If so, your talent management should also include appropriate succession planning. To do this, you can either recruit promising candidates from outside the company at an early stage or prepare existing employees for the role through appropriate training.

This will help you build a reliable talent pipeline that will prevent problematic skills gaps from developing in your company.

Talent management helps you focus on the essentials in your personnel planning and thus systematically address challenges such as the shortage of skilled workers. With our five tips, you will be able to successfully set up your own talent management system.

Are you looking for help with talent management and communication? Our PIO BELOVED team will work with you to find the right solution for your company. Simply contact us for a no-obligation introductory meeting. 

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