We are now entering a new era of business management (Post Pandemic). Instead of looking back at what an employee has done, competent managers will need to look forward into the future, planning exciting career paths that will motivate their people. Combining human capital research, workforce trends and business strategy, managers can build a talent strategy that follows a clear roadmap to a expected business outcomes. Your current talent strategy is transparently displayed in your current workforce data. Here are a few metrics that can define the quality of your current talent strategy:
Managers can use the above metrics to determine which talent investments are really paying off and where they should be focusing their efforts in the future. Getting the talent strategy right makes a huge difference in business outcomes. An effective talent strategy creates an authentic connection between how a company presents itself as an employer (i.e. Employer Brand) and how it feels to work inside the company (i.e. Employee Value Proposition). In other words, promises made to employees are promises kept. Authenticity and transparency are the keys to an effective Talent Strategy. When employees clearly know what is expected in performance and then are rewarded based on their performance, they soon realize they are working in a meritocracy. Talented people are attracted to organizations that transparently invest in their employee’s career development. The Employee Value Proposition (EVP) is a set of values that you, as an employer, offer to your employees. Managers can then use your EVP as a magnet for attracting new hires. An effective talent strategy requires that the best talent available in the marketplace be identified, recruited, engaged, developed, and retained.