A successful organisation requires talented achievers to run its daily operations. It is for this reason that the organisation needs to utilise the talent pipeline in order to recruit the best and further learn how to retain them. A highly talented employee possesses contrasting values and motivation from most of the other ordinary employees. It, therefore, becomes important for an organisation to learn how to spot talent, encourage it to grow in the right course and to further retain and make use of it.
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This does not only keep the organisation on the competitive edge but also help to encourage the talented employee to achieve the goals of the company. The concept of talent management is wholly and steadfastly embedded in most successful companies. It ensures that the company has the capability to attract, develop and retain highly skilled and talented employees. Personally, I have learnt the importance of nurturing an employee’s talent and turning it into a success.
Being a talented individual, this essay is, therefore, aimed at highlighting the importance of managing this talent in any organisational setting by utilising the talent pipeline. Further, this paper will also set out the key issues relating to my talent being managed and the influence it has on me when making a particular decision about an organisation.
Attracting, Selecting And Recruiting The High Potentials
One mistake that most companies make is attracting low performers, hence, losing out on the talented staff. In the current global market, most companies are competing for the most talented individuals to join the competitive market. Who then are the high potentials? These are not the ordinary employees that follow the set guidelines and policies of the company to perform their duties. The high potentials have the capability of rising above those set policies and guidelines and to inject their talent to benefit the company.
The high potentials are rare to find. They are not only committed to what they do but, at the same time, motivated to succeed in everything they do. The burden of attracting and identifying the high potentials, therefore, falls on the company seeking to recruit the talented individual. Personally, I feel this is one area that the company ignores when recruiting new members. In most instances, companies tend to lack the formal and effective tools required to identify and pick out talented individuals.
This explains the reason why most organisations are experiencing a talent shortage. This should be alarming as with the current and growing diverse workforce, the organisation is bound to collapse due to lack of creativity emitting from their talented individuals. This is one aspect that companies should have in mind when recruiting candidates to fill those vacancies.
When seeking to recruit the high potentials in the company, it is important to focus on both the strategy and operational mode of recruiting. As talented as I am, the strategy adopted by the company to seek out the talented individual is bound to greatly influence my decision on whether or not I should join that particular company. For example, the company should have both short-term and long-term goals, any plans for future changes and how they are bound to affect the employees or if they really know what they are looking for in a candidate applying for that job. Attracting that potential candidate is very important, and it is wise to use a recruiting agency to hire that talent.
A company that fails to set out defined and expected roles or the skills and responsibilities of the candidate that they seek to hire in their advertisement does not auger well with me, no matter how expensive their advert might be. The operational side of recruiting is equally important when hiring high potentials. The operations need not only be effective but also rationalized so as to attract the best talent. This not only saves costs for the company but also allow the employees to know what is expected of them. Failure to achieve this, a company is bound to lose the high potentials to a competitor.
To efficiently hire the best talent, the company should have a database into which they can save information regarding future potentials in the company. This helps the company to only hire the best in order to fill a vacancy without necessarily being desperate. I once attended an interview in the desired company but failed to fill in the position as I lacked a particular skill that was required. However, the recruiting team could see the talent in me, and they called me to fill in a position that they thought best suited me. By doing so, it was evident that the company was keen to higher the talented individuals as part of their team, hence, leading their company to success.
Rewarding Performance And Improving Job Satisfaction Of A High Performer
Recognising talent is one thing and rewarding that particular talent is another. It not only motivates the individual but also helps him/her to increase his productivity. There is a strong sense of pride in being recognised for the talent you have and the management treating you as part of their team. It, therefore, becomes important for a company to value the efforts made by their exceptionally high potentials as this only fuel their commitment in what they are doing.
A recent survey was conducted in several companies to establish the level of work satisfaction by the employee’s whose work performance were more outstanding than their fellow colleagues. It was established that, in most companies, only two out of five employees felt that their talent was being recognised. Moreover, the survey further established that only 42% of the companies rewarded their employees for work well done (Davis 23).
It is not a shock that I would personally improve my work ratings if I felt that my talents were being recognised and actively managed. The first reward that the company considers is the salary package. Though this is crucial to ensure employees’ satisfaction, other rewards should be considered as well. Benefits are equally significant. The participants in the study complained of the companies’ ignoring their immediate needs, such as getting a good health cover.
This calls for the company to come up with a strategic plan that fits the needs of the employees hence promoting their talents. Another key issue that the company should adopt is customizing the rewards. This can be achieved through certain activities such as training or even job rotations. Allowing flexible working schedules and granting paid rest days actually act as a motivating reward. It is, therefore, important for the company to understand what I, as their employee values, and to further make sure that the reward structure adopted is motivating enough.
However, it is notable that though most companies might be willing to reward their outstanding employees’ in order to motivate them, the same has been challenged by the current state of the economy. Companies have become more cautious of how they dispense out costs in addition to the salaries with most relying on non-cash kind of rewards. The company can result in promoting the high performer as a form of recognition, and end up spending less money on the strategy.
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Recognition also entails being engaged by the management and to feel that your talent is being recognised and well as managed so as to enhance transparency. Take, for example, the McDonald Company that has globally succeeded to maintain its competitive edge as the leading fast food seller. When questioned about the secret behind their success, the management said that one of the strategies they adopt is to engage their employees (Israelite 34). The employees have been given a lee way to question authority, hence, promoting and opening up interaction between the top management and their employees. This strategy plays a big role in promoting talent.
With the global expansion in the business world, it has become more competitive for companies to retain their best talents. This is because other competing companies too have an eye for talent and are bound to offer the best deal to your best talent in order to incorporate him to their organisation as well. It, therefore, becomes important for a company to come up with a long-term strategy to retain the talents in order to retain its competitive edge. A survey conducted in Saudi Arabian banking sector indicated that retaining talent was very challenging due to high competition in the sector.
It is important for the company to adopt several measures to retain talent. One strategy that can be adopted is to come up with a work-life balance. This strategy requires the company to become flexible in most of the activities it offers its employees. Flexibility in certain areas such as time off working hours is important as the employees do not feel as if they are working under draconian laws. In addition, the company needs to provide some form of support to several departments.
Most employees enjoy working in a flexible environment and, in some instances, I am bound to ask myself ‘Will the other company offer me a similar working environment?’ This strategy will definitely influence my decision to stay on to my current company. Another strategy that needs to be adopted by the company is goal setting. A high performer always works to meet certain goals and objectives. Lack of coming up with definite goals can lower the morale of a talent, hence, losing that talent in future.
Communication is effective to achieve this strategy. The managers should recognise the talent and make them understand how their contribution is of essence for the company to reach its goals. Further, future plans should be put into place and the same communicated to the employees on what is expected of them to reach long-term goals as well.
Feedback, therefore, becomes critical in retaining talent in the organization. This not only creates a sense of confidence in the talent but further strengthens their commitment even in future. Performance review is another strategy that can be adopted by the company. As earlier noted, rewarding a high performer is essential so as to motivate him to work harder. It can also work as a strategy to retain the talent. By conducting a performance review, the company is able to establish what reward best suits the talent and to further allow the company to establish a way of managing and promoting that talent. Most factors are bound to come to mind as I review the overall reward given.
Is it really worth? Does it match my contribution to the company? Can the competing company appreciate me more if they hired me? Such are some of the factors that the company needs to consider so as to satisfy the talent.
It is in my view that appreciating talent is very essential to any company as it is bound to either negatively or positively affect my decision regarding a particular company. Official recognition in particular will play a key role in enhancing job transparency and to see myself as a useful instrument to the organisation that I am working for. In addition, I will be interested to follow my performance track so as to know if my performance is declining.
This will help me to attain a high degree of developing both individually and socially. Companies should therefore be engaged in realizing my talent so as to manage it. This will basically mean that I am being appreciated and will be willing to utilise my talents to full potential. The company, therefore, needs to utilise the talent pipeline in order to recruit the best super achievers and to further retain them. This they can achieve through recognition and managing that talent.
Davis, Tony. Talent assessment: a new strategy for talent management, Hampshire: Gower Publishing Limited, 2007. Print.
Israelite, Larry. Talent Management: Strategies for success from six leading companies, New York: ASTD, 2009. Print.
Roberts, Gareth. Recruitment and selection: a competency approach, London: The Cromwell Press, 1997. Print.
Russell, Bob. Smiling down the line: info-service work in the global economy. London: University of Toronto Press, 2009. Print.