We recently took part in a global HR conference which focused on Talent Management. Along with 90 other professional HR executives, we came up with the following best practices for instituting a Talent Management program.
Here are some of the best practices that we came up with:
- Ownership – From the CEO down to the line manager, the ownership primarily rests with the direct line manager – NOT HR.
- Transparency – The Talent Management strategy/policy must be known to all employees
- Alignment with the Business Strategies
- Consistently measure the system and program processes
- Passionate Communication – This will come from both the CEO and Line Managers, the main drivers of the program.
- Budget IT!!! – And do not cut it out of the budget when times get rough.
Two areas where you will stumble with Talent Management project implementation will be around reviewing the standards (high performers versus high potentials), ownership and budget allocation.
For more information, please drop us a line and we will be glad to share our experiences with you.
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