Talent management has often been overlooked or seen as only an HR function. It took a global pandemic and mass disruption to the labour market for businesses to understand how particular elements can drive innovation within a team, impact a business’s growth strategy and help an employer be positioned favourably in a competitive market. ‘The Great Resignation’, which has seen record numbers of people switching jobs after the peak pandemic ended, has been evidence that the way organisations are retaining talent is broken and needs fixing.
Gallup’s State of the Global Workplace report suggests that the mass walkout is not a role or pay issue, rather one stemming from the workplace. The findings reveal that the highest quit rate last year was among disengaged workers, identifying a global engagement rate of just 20 per cent. If the current workforce doesn’t feel connected to the company, there is the likelihood that new hires probably won’t stay, and this disruption won’t end until employers implement new ways to engage their hybrid workforce.
Though, this cycle can be interrupted if businesses are willing to adapt the process of staying connected with talent. Growing and retaining an engaged workforce will take up a lot of time and planning – more so than ever before – but what are the immediate vital components businesses need to consider? There are three emerging themes that can be used to define a successful talent management strategy in 2022.
When the world switched to remote work, most companies realised how heavily they relied on in-person activities to help new hires, in particular, to understand and integrate with their culture. As a result, there was a race to ensure every new employee had a deep connection to company core values, which are central to culture.
But a key extension of that is preserving an emphasis on enhancing professional development, wherever employees are located. Employees need to know they have opportunities to learn within a company and are being invested in, especially now that they actively re-evaluate their relationship with their careers and reprioritise which benefits, reward, recognition and wellbeing initiatives they want from their employer.
That’s why businesses should pay extra attention to crafting an employee-centric talent management framework that can be translated to a virtual setting. Holding productive and ongoing career discussions will help employees grow with their employer – both professionally and personally – and outline what skills and contributions are expected of them to deliver organisational goals.
Disruption in the job market reinforces the need for businesses to revise digital transformation plans to manage employee expectations and keep them feeling fulfilled. New hybrid working patterns warrant investment in long-term collaboration solutions that better replicate in-person interactions, while improving alignment for remote workers.
Equipping themselves with the most supportive visual and digital collaboration tools will help managers to better understand and allocate talent resources. Both short and long-term talent needs can be reflected as businesses map out their company, its hiring processes, stages of onboarding and career development strategies. Visualising the employee lifecycle will help businesses to maintain the necessary lines of communication with team members and identify problems that could become difficult to manage and impact employee retention if left unresolved.The power of visuals is used to effectively stay on track and react appropriately when changes to the talent management strategy, processes or initiatives occur.
Consistency is key
The cornerstone of a successful talent management strategy this year will be consistency. The turbulent and ever-evolving definition of a workplace largely created by the pandemic has forced the process of engaging and recruiting talent to change. Now, as companies find their new rhythm in the hybrid environment, they must demonstrate agility in meeting employee needs to create a more consistent and enjoyable experience.
Equally important is internal consistency and how organisations’ talent management practices align. If a company increases investment in training individuals with high potential, it should also empower employees to contribute to the organisation.
Keeping the future workforce engaged
Recent market trends have awakened HR leaders who need to remain adaptable when developing talent management strategies.
If employees are disengaged or uncertain about their role in the company, it’s going to impact the firm’s most valuable assets: employees, revenues and market competitiveness.
Becoming more obvious and calculated in how businesses communicate development opportunities will be core to keeping employees feeling connected to the company and its values. This must be a constant process, underpinned by the right visual collaboration tools that make it easier to connect and align on development priorities.