Talent management strategy template
Transform your talent programs to create value for your people and your business
In today's business environment, talent management isn't a nice-to-have; it's a requirement. According to research from Bersin & Associates, companies with highly effective talent management strategies, on average, achieve 26 percent higher revenue per employee and 41 percent lower turnover among high-performing employees.* And according to The Hackett Group, companies excelling in talent management can increase earnings by nearly 15 percent.**
Establishing a talent management strategy, and executing it, is not an easy task, but definitely, one that will deliver benefits to both HR and your organization overall.
And while developing and implementing a talent strategy can seem daunting, sticking with an outdated approach to talent management just to avoid change isn't exactly a sound business strategy.
Create a high-performance culture with effective talent management
Unfortunately, many HR groups struggle with formulating a talent management strategy that maps out their goals and priorities for the year and ties these to their organization's strategic plan and goals.
The reasons why are varied, but without a talent management strategy and plan, the results are usually the same: the HR team is not seen as playing a strategic role in their organization by the C-suite, and talent management activities aren't given the organizational importance they should have.
So how do you create a successful talent management strategy that engages employees, improves performance, elevates HR's role in the business, and drives bottom-line results?
How to develop and implement a winning talent management strategy
Often the hardest part in crafting a new approach to talent management is getting started with the right foundation. To help guide you, this template walks you through the steps required to create an effective talent management strategy.
With this template, you'll have a framework for how to map out HR goals and priorities for the year that are linked to your organization's strategic plan and goals. It comes complete with fill-in-the-blank tables and examples so you can use it to draft your own HR talent management strategy.
You'll gain insights into:
- The 6 critical steps of the HR strategic talent management planning process and how to implement them
- How to transform your talent management strategy and connect people development to business success
- Talent management best practices for improving the employee experience while also delivering on business goals
Download the template today to get step-by-step guidance for creating an effective talent management strategy!
* Bersin & Associates, 2009.
** The Hackett Group, 2007.
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7 ways to put DEIB at the centre of your recruiting strategy
“Diversity is being invited to the party. Inclusion is being asked to dance.”® – Verna Myers The conversations around diversity in the workplace have evolved over the years. As our society has changed and opened up, how we talk about “diversity” as evolved too. Now in the workplace, we also talk about equity, inclusion, and belonging alongside diversity. Together, diversity, equity, inclusion, and belonging (DEIB) help create workplaces where all types of people can thrive. To continue creating a workplace your people love, it’s important to recognise your personal limitations. As Duane La Bom, chief diversity officer at Cornerstone, puts it in an episode of the HR Labs podcast , “There are two types of diversity: The type you can see, like race, gender, age. And the type you can’t see, like nationality, religion, sexual orientation.” Kimberlé Crenshaw, a lawyer, civil rights advocate, philosopher, and leading scholar of critical race theory, dug into the concept of personal limited viewpoints when she developed the theory of intersectionality, “a metaphor for understanding the ways that multiple forms of inequality and disadvantage sometimes compound themselves.” There’s just so much you’ll never see. From a practitioner point of view, we must think differently to consider the invisible factors affecting DEIB in our strategy. How recruitment is foundational to an effective DEIB strategy To ensure your people are happy and feel they belong, DEIB must be at the core of your recruiting strategy, including candidate experience, company brand awareness, and external and internal recruitment. Then as you build your company’s culture and values, DEIB will touch every aspect of the company. A data-driven approach can guide you as you implement an effective recruitment strategy in your organisation. “The common myth in traditional recruiting was that by using narrow education and experience requirements in the job description, your business was 'discerning,' and more likely to attract top talent,” explains Sarah Spence, Senior Solution Consultant for Cornerstone in EMEA. “Thankfully, the link between discernment and discrimination is now better understood — alongside the critical and far-reaching benefits of employing a diverse workforce. It is now up to each business to update their 'selection' processes in order to recognise the true value in their candidates.” Spence shared the following seven takeaways to help you evolve your recruiting strategy to increase your DEIB. 1. Set goals and define what DEIB looks like in your company. Be realistic with your region and the culture around you. Ensure that you set inspirational but also achievable goals and include the whole organisation in that vision. An internal newsletter can be a very powerful tool for aligning your entire company. Also user surveys can provide you with a deep audit on what your people feel has been happening until now and where they want to see the company go in the future. 2. Embrace empathy. We all know that receiving an apology is one of the most healing experiences we can have. Every company and person should embrace the idea of being kind, apologising, and accepting failure. This is how we will be able to innovate while applauding the people who helped the organisation thrive. 3. Form diverse interview panels. This is a very efficient way to start implementing your organisations DEIB goals. Populate the panels with members from different races, ages, religions, backgrounds, etc. from all across your organisation. This will not only improve your hiring processes but also set an example and show your workers that you have a strong commitment to them and to DEIB. 4. Revisit your application workflow and job descriptions. Have people from around the company (maybe start with the people on your interview panels) apply to open positions and determine how inclusive your hiring flow is. Ask recently hired employees what could be improved and what was great. Revisit your job descriptions, keeping an eye out for biases like how we use certain words, and work with the copywriter in your organisation to make them more inclusive, relevant, and efficient. 5. Deliver ongoing DEI training. Get your Talent Acquisition (TA) team and hiring managers to take unconscious bias training. Support them if questions come up and ensure they have the right interview skills. A lot of hiring is based on potential, and unconscious bias is the enemy of potential, so we have to learn to see our own unconscious biases. 6. Create a safe space to give feedback. Having a community within your organisation where people can share how they feel is very powerful. And that extends to your applicant tracking system too. Candidates need a place to share feedback on how the process was, good or bad. And of course, if your processes are automated, your TA team will have time to debrief with managers and get into the experience during the interview. More importantly still, ensure that the feedback collected is acted upon to drive a fairer and more inclusive environment for all future applicants. 7. Know your Employer Value Proposition (EVP). Work with your marketing team and ensure you are elevating your EVP. How is your social media footprint? Check Glassdoor and Kununu regularly and respond to all feedback. Enable your CEO and leaders to show your company values online with vlogs and social posts. Add employee testimonies on your career page and blog so that you can create a newsletter for your talent pool. If you want to learn more about improving your diversity, equity, inclusion, and belonging, listen to this episode of HR Labs.
Agility: The leader and their key role!
Nothing is worse than an organisation caught up in silos, processes and red lines. These days, the focus must be on agility. In other words, each organisation must develop its ability to adapt quickly to its environment – it is a question of survival! The most common mistake when we talk about agility is to summarise agility in one characteristic. In reality, there is no such thing as one agile method, but multiple methods, and multiple aspects to consider. It's not enough to just create a new team with a name that sounds like "Silicon Valley". One of the key factors that is often overlooked is the commitment and personality of the leader at the head of the organisation. Leaders play a strategic role: they can encourage agility or on the contrary, sometimes despite intentions, slow it down. We all know about DNA. It is the molecule that has all the characteristics of a being. Scientists, Christensen, Dyer and Gregersen attempted to define the DNA of an innovative organisation and found that the starting point is the personality of the founder or manager of the team. If it is oriented towards innovation, the latter will naturally tend to surround themself with creative profiles. The company will then encourage questioning, observation, collaboration and experimentation. And beyond these practices, it will stimulate a real culture based on the following strong principles: · Innovation is everyone's business, not just R&D · Breakthrough innovation is encouraged · Project teams are small, agile and structured · Intelligent risk-taking is encouraged In short, as we can see, the starting point of an agile and innovative organisation is first and foremost the personality and commitment of the leader at its head. Let us remember the words of Peter Drucker: “Leadership consists of raising a person's vision to higher heights, improving a person's performance to higher standards, building a personality that abolishes ordinary limitations.” If you want to develop your high potential leaders by equipping them with the skills to motivate, engage and manage teams, you can find out more here. This blog was originally published in the French Cornerstone blog.
Artificial intelligence will humanise work, not replace it
Artificial intelligence: “Humans are far from having lost their place in business” Today we are inundated with articles, interviews and Tweets about artificial intelligence (AI) from people who aren’t aware of the technological reality. They simply shamelessly tap into an imaginary world of competition and submission in order to generate more and more emotion and clicks. As an AI expert, I wish to shed some light on what is involved in the development of these new tools, which may turn out to be more human than one might think. Because the reality is: what we call artificial intelligence is just a succession of specialised tools, each one dedicated to the optimisation of a single repetitive task. A classic example is medical imaging, where an algorithm will analyse hundreds of images for a specific cancer in order to propose a diagnosis to the doctor. AI is nothing more than what we decide to make it. A human technology that has the potential to relieve employees of daunting tasks… Above all, AI makes it possible to automate often repetitive, sometimes thankless, actions that were previously carried out by employees. We must put an end to the preconceived idea that we would put the majority of human activity in a company into the hands of machines. AI must be approached as a technological opportunity that frees up employees’ time and helps them to make decisions. …and to bring value to employees and the company Employees will therefore be able to concentrate on other, more “human” tasks, where they will have more added value. On the one hand, they will be able to focus on their creativity, innovation and analysis; on the other hand, they will be able to devote themselves to human relationships and communication, whether internal or external. For example, a nurse will be able to spend more time with her patients. In this way, AI gives back meaning to work, an essential demand from younger generations. A phenomenon that will increase with the maturity of the technology Opaque in its operation, AI is a tool that requires interaction in certain aspects similar to that between humans. The solutions known to the general public are still far off from maturity. Indeed, the main goal of GAFA (Google, Apple, Facebook and Amazon) is to keep users captive by not providing them with steering tools or justification. However, it is necessary to ensure that humans and AI understand each other on both the questions and the answers! Collaboration with humans is a crucial issue for enterprise solutions, the progress of which will positively affect the reality of work. Let’s not be naïve, job losses caused by AI will occur. But the reality will be far from the predictions of some thinktanks or theorists announcing the elimination of 30% to 90% of current jobs. Humans are far from having lost their place in business. With the development of AI solutions at work, employees will turn to more rewarding activities and goals for more fulfilling careers. Hungry for more AI blogs? Read my opinion on what AI can bring to HR.