- Talent Management
Recruitment and Retention: The Building Blocks of a Successful Talent Management Strategy
The Return on Recruitment
The entire talent management process and strategy of an organization relies first and foremost on effective recruiting to bring in the most valuable, extraordinary talent, and put them in positions that are suited to their skills and background.
Research has shown that in terms of return on investment, recruiting is the most important function of an HR department but today’s comprehensive talent management strategies don’t leave it all to HR—leadership also plays a valuable role in identifying and retaining the best employees.
When you recognize the importance of recruiting, and make it a pivotal part of your organization’s overall strategy, you’re going to see the impact on your profit margins.
Recruitment is no longer simply about finding a person to fill a position, or finding someone who has the skill set you’re looking for. As part of a comprehensive talent management strategy, recruitment relies on finding those people that have the skills and background, but also are the most likely to stay on with your company in the long-term, helping you reduce turnover and nurture future leaders.
So how do you find and attract the long-lasting talent that’s going to lead to a successful future for your company?
It all starts with you. Before you can begin selling individuals on the merits of your organization, you have to be clear on what you have to offer, and what your brand identity is, in a way that’s going to set you apart from other potential employers.
Keep Employees Engaged with Retention Efforts
After developing a meaningful, effective recruiting strategy, your next focus should be on retaining these top employees you’ve managed to hire.
Retention should be thought of as a way to keep the conversation open between yourself and your top talent. Keeping an on-going conversation as a pivotal priority will allow you to engage with your employees, better understand their needs, wants and goals, and ultimately keep the workplace interesting and engaging for them.
When you’re willing to put time and effort into a retention-based strategy as part of your larger talent management goals, you’re creating the sense you value your employees and their desired career path.
Retention is something that should always be happening, and as part of this ongoing process, employers should develop a toolkit that will allow them to reduce their turnover and keep their best employees as a dedicated and imperative part of their organization.
When recruitment and retention are a top priority, employees become a value-adding component of an organization.
December 31, 2014 Ashley Sutphin
The trees have been taken down, the presents unwrapped and now it’s that time when most of us start making those New Year’s resolutions. As the New Year begins, professionals and corporate leaders may be thinking about how they can acquire the best possible talent, strengthen their workforce, eliminate skills gaps and become more competitive. […]… read more
December 27, 2014 Sherman Morrison
In this third and final installment of what can be learned about mentoring programs from Sun Microsystems, it’s time to summarize nearly two decades of the company’s mentoring experience into a handy best-worst practices table. This was created by Katy Dickinson, who headed up Sun’s SEED (Sun Engineering Enrichment & Development) mentoring program for many […]… read more
December 23, 2014 Sherman Morrison
This article continues an exploration of what can be learned from the Sun Microsystems extensive experience with robust mentoring programs that began with Masterful Mentoring at Sun Microsystems. While that article dealt with some key decisions around mentoring such as formal vs. informal, what metrics will be used to measure progress and success, and the […]… read more
December 23, 2014 Sherman Morrison
In our series about the Secrets of Retention, article #2 was about mentoring, and we mentioned how Sun Microsystems evaluated 13 years worth of data on its mentoring programs from 1996-2009, concluding that the return on investment (ROI) exceeded 1,000%. Meanwhile, another study of its mentoring programs over a seven-year span found the following more […]… read more
December 23, 2014 Ashley Sutphin
Employee morale and engagement may wane throughout the year, but perhaps one time of year employees seem to be most uninspired is right after the New Year. Employees have enjoyed the excitement surrounding the holidays, and as they head into a new year the winter slump tends to take over. So how do you start […]… read more