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The Secret to a Successful Talent Management Framework

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The Secret to a Successful Talent Management Framework

Today’s business climate requires organizations to have an effective talent management model in place. Believe it or not, with companies reaching every corner of the word, the business environment has become volatile and acquiring appropriate talent and grooming it decides the rate at which an organization will grow and succeed.

However, a wistful fact that keeps business owners on their toes is that though they recognize the importance capturing the best talent and retaining the most up-to-date skills, they are not able to construct suitable strategies to achieve this goal.

Many reports reveal that more than half of the employers globally are not able to get their talent management frameworks right which can attract people who can fit into their companies and the culture that they aim to maintain. The formula of a successful Talent Management Model is to toss out the conventional approaches and embrace a transformed mindset to match the altering demographics along with talent versatility.

There are particular traits that are shared amongst high-performing, business-driven models of talent management. Here they are:

  • Competency Management
  • Workforce Planning
  • Talent Acquisition
  • Performance Management
  • Learning and Development
  • Leadership Development
  • Succession Management
  • Governance
  • External Influencers
  • Strategic Alignment
  • Organizational Climate
  • Technology

In this article, I am going to bring into light the learning & development aspect of a Talent Management Framework.

Relevance Learning & Development

L&D is an indispensable component of an effective talent structure, especially at this date when learning is the top priority of employees as they aim to grow in their career by upskilling and enhancing their knowledge through training.

Learning & Development is an invaluable and integral resource for elevating employee skills, increasing their motivation, and boosting productivity as well as engagement. What makes it intrinsic to talent management is that learning activities are perfectly aligned with employees’ developmental objectives identified through the performance management procedure. Moreover, organizations rely on learning not only to skill-up their personnel but also the customers along with the channel partners.

It is essential to comprehend how learning & development is different from training. Training can be seen as a coherent approach to upgrading employee’s skills, knowledge as well as attitudes for sharpening the abilities and performance of the staff’s current job responsibilities. In contrast, Learning and development is a systematic procedure for preparing employees as well as leaders for responsibilities in the coming times.

Also, training is like an intervention which is delivered by a facilitator or instructor. On the other hand, learning is the procedure of attaining knowledge and skill that are in sync to the organizational goals. And, to facilitate this process, learners are provided with information through tools as well as mechanisms by their organization.

Several pieces of research suggest that efficacious L&D encompasses six main practices:

  • It is associated with the core business strategy.
  • It improves organizational capabilities, not independent competence.
  • It builds a culture of flexibility, innovation as well as learning.
  • It takes support from best social media tools.
  • It is led by top officials.
  • It is gauged for its influence on business outcomes.

High-degree learning is about constructing learning opportunities which develop the knowledge, skills, information, as well as experiences of the employees for fostering personal development along with career advancement. High-performing organizations make substantial investments in both Learning & Development for professional and leadership development.

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