Value-adding talent management defined


What is talent management?

Talent management is the process of managing, developing, and retaining employees to maximize the value they bring to your organization.

A crucial element of talent management is the administrative side of managing employees. This involves managing and administering employee data, documents, and information to ensure a solid overview of the workforce and its needs.

Talent management also has the purpose of engaging and motivating employees to perform well and satisfy personal goals. Furthermore, talent management seeks to manage and develop a collective workforce that contributes to reaching and maintaining your organization's overall business goals.

Some important elements of talent management are:

  • Employee data management

    • GDPR compliant data management
    • Employee data administration 
    • Workforce overview and insight
    • Insight into organizational development
  • Employee development 

    • Appraisals and development plans
    • Competency identification and development
    • Course administration
    • Succession planning
    • Talent Matrix 

Why is talent management so important?

A company’s most important assets are its employees. They are the ones working towards reaching the core objectives of the organization and are vital to its success, so facilitating a culture of talented and satisfied employees is crucial. Let’s take a closer look at the reasons why talent management is of the utmost importance.

Talent management is important because it can help your company with:

  • Ensuring correct management of employee data and documents

    With GDPR in full force, it has never been more important to ensure that your company manages employee data and documents in a correct and secure way that complies with current laws and regulations.

    This requires a structured way of collecting and managing data and the right processes in place for data deletion and user access.

  • Gaining valuable insights throughout the company

    Knowing what happens in your company, how change develops over time, and how individual employees and departments are performing, is very important for upward organizational mobility.

To be able to do that, it is important to be able to easily oversee HR KPI’s and collect, track, and manage key data on employees, departments, and overall company development.

  • Reaching core business goals

    Working professionally with talent management can help you direct and align the development of employees, departments, and the company as a whole, with your business goals. 

An important part of this is establishing structured processes for collecting and utilizing data to better equip HR to manage talent and point the company in the right direction. 

  • Attracting and retaining talents

    Talent management involves handling core employee data as well as data on employee performance and development. 

Working professionally with this allows you to place, develop, and utilize talents optimally throughout the company. This will also ensure a company-wide focus on employee development, which is important to both attract and retain talented employees.  

  • Engaging and motivating employees

    Most companies are fully aware that reaching business goals requires engaged, motivated, and satisfied employees eager to perform and deliver. 

Working with talent management will allow you to better analyze and detect development opportunities and internal openings, which is important for keeping employees more engaged and motivated. 

  • Optimizing employee performance, roles, and responsibilities

    Working effectively with talent management will enable your company to better identify talents and competences. 

This makes it easier to evaluate, plan, and manage which employees are more suited for different positions in the company. This will essentially improve performance as each employee can better exploit and use their key skills in the right places.

 

While there might not be any ‘one-size-fits-all’ solution to working successfully with talent management there is, at least, no doubt that a thought-out approach with structured and streamlined processes makes the job easier!

 

Curious to learn more about talent management?

Here are 3 key pillars of talent management you need to know - Data & document management, appraisals, and competency management.

 

See it all in action

BOOK YOUR DEMO to experience how great talent management can help your company streamline data and document management and establish intuitive processes for employee and competence development.