“One machine can do
the work of fifty ordinary men. No machine can do the work of one extraordinary
man.”
– Elbert Hubbard
So, an organization is only as good as its
resources- especially its HR. With the new implementations in the talent
management strategies, organizations are focused on matching the talent
potential to their mission and vision.
What does it mean to “align talent with business strategy”?
While talent acquisition focuses on the
needs of ‘now’, talent management focuses on being ready to cater to the future
needs. So, the basic purpose of talent management is to bridge the gap between ‘what we have’ & ‘what we need’.
Talent management is a strategic approach
that aims to create a need-ready workforce, and at the same time reflects the
organization’s commitment to acquire, train, motivate, develop, and retain
efficient employees.
Now, if we look at it closely, the final
goal of talent management is to create a
dynamic workforce that meets an organization’s goals and objectives. Thus, the
need of linking an organization’s talent management strategy to its business
strategies.
Aligning the talent management strategies
with the business goals is imperative for all organizations to accommodate the
dynamic business environment. And, it is not too farsighted to say that the
organizations who successfully adopt the change will be the ones to emerge as
leaders.
With the covid-19 breakout, it is now clearer
than ever that business strategies and talent management is deeply interlinked
and dependent on each other. More so the situation requires the transformation
to be implemented even faster.
Also, the alignment of the team management
and the business strategy helps an organization achieve its mission while
maintaining its vision.
Here’s what you need to do!
In order to drive a successful delivery in
the new work environment, organizations need to ensure that they transform
their talent strategy to match the business objectives. Although, the approach
is subjective and can differ from organization to organization, following are
the most requisites that you need to fulfil:
●
Re-defining the talent
expectations. This will help the talent see that the work they do every day is
aligned with business objectives.
●
Analysing the existing
workforce bench strength to align the current or future requirements.
●
Inform individuals about the
development opportunities in order to make the talent expectations more
personal and actionable.
●
Implement sound assessment to analyse
strategic workforce planning and talent development needs.
Where to begin with the talent-business alignment?
➢
Going forward with a talent and
business alignment strategy, the first step is a careful analysis of an
organization’s goals and objectives.
➢
Through such analysis the
management team is able to identify and understand its implications on the
talent management strategy.
➢
Once the impact of the business
objectives on the team’s talent is interpreted, the specific goals and
initiatives can then be formulated.
Here are some strategies you can work with:
●
Employee engagement and communication of
the organization’s business strategy.
●
Succession planning strategy
development.
●
Implementation of a leadership development program (LDP)
for increased returns.
●
Identification of skill gaps through
regular inspection and assessments at all levels.
●
Providing comprehensive training to compensate these skills gaps.
●
Matching each employee’s
performance goals to the organization’s business strategy and rewarding all those who meet the goals.
An organization that recognizes and values
the importance of adopting an efficient talent management strategy, that aligns
with its overall business strategy, surely add to its anticipated success in
attracting and retaining the workforce required to achieve its strategic and
operational goals and objectives.