Why do companies need to align talent development with business strategy?

By : Adrenalin eSystems   Published : January,26 2022


Why do companies need to align talent development with business strategy?

 

There has been a considerable amount of importance being given to the need to align talent development with business strategy.

The reason behind this is simple:

It is the KEY to the success of any business.

Of course, there’s a detailed answer as to how a business can reach new heights with a proficiently made corporate and talent management strategy.

Here are some statistical figures that will prove our point, according toThe Predictive Index’sThe State of Talent Optimization Report:

·30% of the top performers are retained

·Business savvy organizations outperform other businesses by 16%

·34% higher performance delivered by employees

There’s no need to rake your brain to answer “what is a talent acquisition system”.

It’s closely associated with Human Resource Management to gain competitive advantage in the market.

Let’s take a look at how talent management, its software, and a sensible business strategy work in harmony to make a business prosper.

 

Talent Management Framework

Well-structured framework provides the management with a smart approach aimed at developing employee potential and ensuring the talent is retained. The right mix would include equal portions of individual and organizational development opportunities.

A top talent acquisition software would help in creating this type of a plan by taking care of the acquisition, performance, and development processes. The software would provide authorized personnel with employee profiles, training details, competency models, job analysis, and much more to ensure proper evaluation.

There are 4 pillars on which a successful talent management framework is built upon keeping in mind the business strategy:

·Organizational Effectiveness

·Talent Acquisition

·Workforce Management

·Employee Development

When each of these are made to align with the business goals it maximizes leadership excellence and ensures the creation of a successful business model.

How the Alignment Helps

There’s a purpose behind hiring an employee, creating a team, giving them certain tasks and responsibilities. A right mix of these will take the business to new heights.

But in all honesty, how do they work together? Or how would anybody make them work in cohesion to reach a desired goal?

Let’s dive deep!

1.Determining the KPIs

The HR department is going to have a clearer idea of who to hire in terms of skill set, experience, and educational qualifications when the board has set goals and KPIs for the company. A talent acquisition software will help the HR personnel in sifting through heaps of resumes to find the right candidate.

2.Employee Talents

Recognizing the talents required to reach your business goal will narrow the search considerably. You will be able to determine and identify behavioral traits, enthusiasm, capabilities that will fit into the company culture. You also want to have an integrated system of details like job applications, tracking details, offers given & rejected, etc.

3.No Confusion

Conveying clearly, the expectations, plans, and goals to employees help in creating a rhythm in the company. Employees know what they need to do to achieve said goals. A top talent acquisition software combined with clear communication also enables HR personnel to determine whether or not training sessions need to be organized and have real time access to all necessary details moving forward. A basic feature of the software is the ease with which data can be shared, accessed, and analyzed to make informed decisions.

4.Success is Success

When employees are managed in a way where their personal growth pushes the business to move upward, is when it can be considered that talent development and business strategies are truly one. Employees must be made aware of the long term goal of the business and how they can help. HR personnel can use a talent acquisition software to take care of details related to training, competency, succession, and career management and development.

5.Need for Diversity

The path to success cannot be achieved if you only have people who agree with you. The best business strategy will have incorporated the talent development aspect to ensure there’s cognitive diversity in the team. New hires should have the ability to offer fresh ideas and approaches that are goal oriented. Combine these hard skills with soft skills and your business has the right blend to growth.

Businesses have begun understanding the power of talent acquisition software, especially when it comes to hiring new talent and keeping their brains running with periodic training sessions.

6.Proper Structure

A centralized reporting system for talent management and development has been associated with higher levels of alignment and thus better numbers for growth. There’s one person at the top that everyone will ultimately report to. This could be the Chief of Talent Development or another title that oversees the training and management sections. A centralized reporting system assigns clear contact points, reduces multiple channels of communication with different people, and improves how knowledge and ideas are shared among employees and management. A talent acquisition software, can help businesses create a strong centralized reporting system through a standard, comprehensive, and end-to-end HR solution.

Conclusion

It has been proven that when businesses take into consideration and create a hardcore talent management strategy that aligns with business goals, there’s a much higher scope of overall success, and in hiring and retaining talented employees.

A top talent acquisition software makes it easier for the management and HR department to follow through with the strategy created.

Every process related to employees will be streamlined so that there is a natural flow of conversation and information.

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