When discussing overall business strategies, how deeply does your organization consider the people and skills necessary for success? Do conversations revolve only around headcounts and external hires, or do they also include employee retention? Is the aim merely to maintain staff in their current roles, or are there opportunities for movement and promotion within the organization? Even this subset of questions barely scratches the surface of what you could be asking when developing your talent strategy. Using a holistic approach to align talent to organizational objectives is essential for your organization’s success.
Identify the Skills to Meet Critical Organizational Objectives and Define Success Metrics
If your organization is hoping to launch a new service or product, you’ll need to identify the skills needed to make those new offerings successful. Notice that we noted skills and not people. Identifying specific skills opens up various options to bridge any skills gaps, as we'll explore below. It's equally vital to define success metrics that align with these skills. For instance, if your initiative involves community engagement, your metrics should reflect community activities rather than sales figures. If there’s a mismatch between skills and metrics, refocus on your overarching organizational objectives to realign them.
Furthermore, ensure that your organizational objectives correspond with your organizational values. Implementing objectives that contradict your values can severely impact your organizational culture. While some cultures thrive on speed and constantly creating new projects, others might prioritize consensus. Although no culture is inherently superior, employees will notice if actions don't align with stated values, especially if a shift in organizational culture is on the horizon. Preparing for discussions about why these changes are necessary is crucial.
Match People to the Skills
After identifying the necessary skills, the next step is to connect people with these skills to your objectives. This doesn't mean you should only consider hiring externally. Look internally for employees who already possess or could develop these skills through training, whether internal or external. Consider engaging retired employees as consultants, investing in new systems to free up skilled staff, or simplifying processes to better utilize existing talents. Alternatively, hiring or contracting skilled individuals externally is also an option.
Train Managers and Leaders to Provide Feedback
Training your managers and leaders on how to provide effective feedback is vital for success. They need to be able to strike a balance. If they’re too soft when a correction is needed, the feedback will be overlooked. If they’re too harsh or micromanage, employee motivation and productivity could drop. Additionally, celebrating wins is important, but it should feel genuine rather than feeling like participation trophies. A balanced approach to feedback helps teams excel by providing the right level of challenge and support, fostering engagement through real-time recognition and constructive realignment.
It is also important to note that with real-time feedback for both recognition and realignment, employees will be more engaged in their work. They will see that their managers and leaders are genuinely interested in their contributions and are committed to helping them develop their skills and confidence, which ultimately leads to higher retention rates.
Assess & Iterate
Even though managers should be providing feedback along the way so that goals can be met, it is still necessary to have an overarching assessment of goal progression and if current actions will lead to success. Take this time to identify any unexpected barriers or windfalls and check if the skills, metrics, and objectives are still aligned. This is also when organizations should maintain the items that have worked well and iterate on items that need improvement.
In addition to assessing the goals, managers need to be assessing their employees. Managers should work closely with employees to understand if there are barriers that need to be removed and if there are opportunities for training that could enhance performance. If there are performance issues, managers need to take the time to uncover the source of the issue. Sometimes they’re fixable and other times tough decisions about an employee’s future with the team might be necessary.
Additional Considerations
Your talent strategy should also include succession planning. Determine if you’ll need to replace roles due to retirements or resignations and identify who could step in. If certain roles are no longer necessary, plan how to phase out these duties while retaining any beneficial aspects such as institutional knowledge, operating procedures, or ideas for future use.
Moreover, consider tailoring total rewards to meet the unique needs of your staff. Not all organizations can compete with top market salaries, but creative compensation, such as pet insurance for dog owners, travel rewards for high performers, or flexible work schedules, can add significant value.
Final Thoughts
Talent strategy encompasses far more than hiring and retention. It's about reinforcing or reshaping organizational culture, uniting employees around common goals, and enhancing operations through ongoing development. A robust talent strategy is not just beneficial; it's a competitive advantage.
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Winsami Solutions & Consulting is here to help with your organization's talent strategy. Our mission is to support organizations in adapting their People & Culture practices to meet the needs of an evolving workforce.
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