Talent management in Human Resources: how to make the most of it

Talent management in Human Resources boosts innovation and competitiveness in companies while strengthening their continuity.

Attracting, assessing and retaining talent requires a comprehensive strategy that involves all levels of the organization. This is the only way to implement and consolidate a culture of continuous evolution that empowers employees and drives the organization toward excellence. 

In this article, we will take a closer look at what talent management in Human Resources is, goals, key components and what models can be used to develop it successfully.

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What is talent management in Human Resources?

Talent Management in Human Resources is a business strategy aimed at attracting, engaging, developing and retaining the most qualified profiles in the company. 

This strengthens the competitiveness of the organization and the long-term commitment of talented people who develop within it.

Empowering human capital makes it easier for the company to achieve its strategic objectives, while enabling its employees with the necessary skills to do so. 

On the other hand, the project becomes more solid and has the necessary resources to cope with the instability of today’s markets.

To achieve this, HR departments need to implement a comprehensive talent management strategy with resources focused on innovation and creativity, using tools such as the HR scorecard among others.

This kind of commitment to developing talent within the organization creates communicative and cohesive vessels between employees and the organization, as they feel valued and driven to achieve excellence for the company.

Similarly, good talent management in HR improves the employer branding of the company, which is able to attract highly qualified profiles, optimize recruitment resources and save costs.

The goals of talent management in Human Resources and the keys to achieving them

The goals of planning a talent management strategy are as follows: 

• Identify the strategic skills and competencies the organization needs to successfully achieve its goals. 
• Develop a robust internal human capital management system capable of identifying and resolving potential talent leaks. 
• Optimize recruitment processes and the ability to attract the most qualified profiles. 
• Promote the most talented profiles to ensure their permanence in the company. 
• Create a plan for identifying new leaders to ensure talent transfer and succession. 
• Implement monitoring of the performance and development of talent in the organization. 
• Promote a business culture of improvement and continuous learning.

To achieve these talent management goals, it is necessary to delve deeper into the 9 keys that we share with you below.

Strategy creation and planning

Talent management in Human Resources requires a comprehensive strategy whose success depends on the commitment of all people involved in the organization, starting with the leadership that the HR department must provide.

Recruitment 

Discovering new talent is based on 3 fundamental pillars: 

1. In-depth knowledge of the company’s needs to create accurate and clear job descriptions.
2. Attractive and inspiring employer branding.
3. Quality and objective processes thanks to the integration of reliable technological tools.

Onboarding

It is at this point that the job onboarding process for new employees becomes critical, as it affects their level of satisfaction, trust, and commitment. 

A personalized and quality onboarding plan improves the employee experience and productivity.

Performance evaluation 

Employee performance evaluation is a strategic tool for identifying the strengths and weaknesses of an organization’s human capital. 

It helps to measure, review and improve employee performance, for example, through periodic assessments.

Training and evolution

In the area of human talent management, establishing training programs and education that synchronize the employee’s personal goals with the company’s goals is essential to retaining talent.

Talent succession 

Another essential component is the creation of talent succession plans that include tools such as business mentoring.

Tracking, analysis and rewards

It is essential for HR departments to implement a people analytics strategy that incorporates technological tools such as business intelligence and Big Data. 

Thanks to these resources that simplify and optimize talent management, it is possible to implement fair, transparent and effective strategies for recognizing job performances.

Support

The company’s involvement in the employee’s career plan increases employee satisfaction, reduces turnover, and improves the work environment. 

In this context, the use of horizontal and vertical career growth strategies multiplies the opportunities for people to develop and engages them in a process of continuous improvement.

Leadership culture

By improving leadership skills and identifying high-performing profiles, you can unleash the full potential of your people and strengthen their long-term commitment to the project.

Business models of talent management in Human Resources  

There are several models for this type of human talent management that can inspire you to develop your company’s strategy.

Werther and Davis model

Demonstrates the importance of the relationship between the macro and micro environments in an organization and the need to focus efforts on social, corporate, functional and personal goals.

Beer et al model

It shows that the HR system must be coherent and aligned with the business strategy in order to achieve the company’s goals. 

It identifies 6 essential components for building this strategy:

1. Selection.
2. Evaluation.
3. Rewarding.
4. Development.
5. Influence.
6. Teamwork.

Chiavenato model

It is one of the traditional models still in use today. 

It states that the HR functions of control, maintenance, and supply are interrelated.

Online or Staff Management Model

It emphasizes the role of business leaders in talent management as drivers of change. 

It also emphasizes the need to plan actions and monitor strategic indicators for the organization.

Competency-based management model

It focuses on the relationship of 4 interrelated dimensions to be improved: 

1. Knowledge Acquired.
2. Affections.
3. Performance.
4. Preferences. 

When it comes to managing your company’s talent, our proctoring plans can be your greatest ally. 

Request a free demo and discover how high-quality, innovative solutions can help you unleash the full potential of your people.

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