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Tips for Top Talent Management

Fostering talent can be one of the largest investments for any business. Implementing a talent management strategy is important for developing future leaders and instilling company goals and growth. Below are several tips for developing a healthy talent management process.

1. Know Your Talent
Identify and get to k now your top performers. Encourage open communication and pay attention to new milestones. Be aware of your competitors, chances are if you appreciate your top talent, someone else will too.

2. Value Your Top Performers
Make sure your top performers know how much they are valued. According to a 2010 study by Charan and Conaty, great talent managers are not just familiar with people, but know them intimately. One company implemented a ‘talking talent toolkit.’  Using this tool, managers were able to distinguish between a ‘performance conversation’ and a ‘talent conversation,’ providing a practical way for managers to understand employee’s aspirations and desires.

3. Keep Your Top Performers in the Know
Do your top performers understand companywide goals? Do they know the realities of your business strategy? It’s important to get your integral players involved with company growth and development. Make sure your top performers are privy to goals and are in the position to reach company objectives.

 4. Assessing the Workforce
A traditional talent strategy can develop reliable talent – but sometimes, unique and unforeseen talent develops leaders. Many companies are now turning to research to better understand suitable candidates. Thomas Reuters has turned to research to identify attributes of a top leader. They have conducted internal and external research to identify the traits of future leaders – one new characteristic relates specifically to an individual’s capacity to interact with technology.

5. Respect Diversity
Nurture the talent all individuals. It is important to identify groups that may be underrepresented and to nurture them to reach their full ability. It is crucial to develop training that helps people excel and participate as an optimum player in the workforce.


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