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How Do You Define Talent Management?

How Do You Define Talent Management?

“Nothing is more important than the quality of hiring.” Eric Schmidt, Chairman of Google (Schmidt & Rosenberg, 2014). Talent management is clearly one of the biggest challenges for business in the next ten years. Recruiting and retaining top talent is already a top priority for most businesses.  The major challenge will be in adjusting your …

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What Qualities Make a Great Manager?

What Qualities Make a Great Manager?

Great managers inspire talented people to stay with a company. Even if a company offers inspiring leadership, great benefits and perks, good pay and training programs, employees base their tenure on the quality of the relationship with their manager. Successful talent management requires managers to consciously engage employees to perform at their highest levels.  Managers …

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Are Your Performance Incentives Driving the Results You Want?

Are Your Performance Incentives Driving the Results You Want?

For decades, designing incentive programs was about finding the right mix of compensation and benefits such as health insurance and vacation time. Those days have come and gone. Business organizations now understand that a personalized incentive system is essential to attracting, motivating, and developing talent. So why are only a few companies doing it? Incentives …

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What Predicts Turnover?

What Predicts Turnover?

Employee turnover is a problem for many companies.  In most industries, the top 20% of people produce about 80% of the output (The Pareto Principle).  We all want to hire these top 20% (top performers). And when we do hire them, we want to retain them.  However, these talented people get lots of offers for …

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Why Calculate Cost Per Hire?

Why Calculate Cost Per Hire?

Every company needs to know their cost of turnover for each key position.  Cost-per-hire tells you what it will cost to replace someone who quits or was terminated.  Tracking costs is something most companies are doing anyway.  Giving extra attention to small or hidden expenses in your recruiting and hiring process will display the total …

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What is Talent Management?

What is Talent Management?

Talent Management is the process of improving how people are acquired, developed, deployed, motivated and retained. Among the traditional business functions that Talent Management includes are recruitment and selection, coaching and training, succession planning, and performance management, which includes motivational incentives, benefits and compensation. The primary purpose of talent management is to maximize the total …

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Making the Case for Human Capital Solutions

Making the Case for Human Capital Solutions

It’s time for new management thinking when it comes to making decisions about people. Human Capital Management (HCM) solutions include recruitment strategy, hiring methods, training and coaching programs, incentive plans, and succession planning, promotion criteria, will determine your business outcomes. Throughout my 20 years working in human resource consulting, I have seen much more guesswork involved in HR decisions, than …

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3 Steps for a Complete Talent Management Strategy

3 Steps for a Complete Talent Management Strategy

Talent management strategy has to be viewed systemically. There is no value in doing a great job recruiting and hiring top people if you can’t retain them. There is no value in training and coaching employees unless you know what talents and competencies are driving the high performance. It’s only by bringing all the pieces …

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Valuing Employees as Assets: Human Asset Investments

Valuing Employees as Assets: Human Asset Investments

“People are our most important asset.” How many times have you heard that aphorism from Senior Executives? But while people (i.e. employees) are often spoken of as assets, the reality of business is they are generally treated as costs – particularly by financial departments who categorize them as “liabilities.” Since value is driven by people more …

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The Value of Talent Management Strategy

The Value of Talent Management Strategy

The Benefits and Outcomes Greatly Outweigh the Costs for Talent Management Strategy At HireSmart, we like to show the Return on Investment for a well-executed talent management strategy. The pay-offs are numerous and easily measured! A well-executed Talent Management Strategy allows business owners and shareholders to enjoy the benefits of: Quickly knowing who should be …

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