We are living and working in unprecedented times. As business leaders and HR professionals, it is key to evolve your business strategy to meet your market demands.
Included in your business strategy, is crafting your next-generation talent strategies, needed to thrive in today’s turbulent markets. Here are five tips to consider:
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Adapt and adopt to new ways of work
- Review how you are currently sourcing, developing, and retaining your talent in your organisation.
- Reflect on whether this is still relevant or not.
- Benchmark your value proposition for prospective employees with what is offered in the market.
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Assess your current capabilities and develop
- Further develop the capabilities within your business to deliver on talent strategy, in the current economic landscape.
- Attend capacity-building sessions on talent management and how to improve your hiring practices and the overall employee experience.
- Use appropriate technology to support your talent management strategies.
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Evaluate the market and key HR Trends
- Actively assess the market that impacts hiring, developing and retaining your talent, driven by data.
- Review and develop improved talent strategies that factor in the latest related HR trends.
- Identify key actions to be taken following the review of the market trends, and external influences to attract and retain your talent.
- Evaluate your workplace policies, such as employee benefits, working hours, and the opportunity for hybrid or remote working as an example.
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Understand your company culture and evolve where needed
- Consider the impact of your company culture, in attracting, developing and retaining talent both now and in the future with the needs of current and prospective employees changing over time.
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Evaluate the effectiveness of your talent management strategies
- Identify key measures and indicators of the successful implementation of your talent management strategies.
- Periodically monitor your progress, and readjust your action plan where needed.
Remember, people are the heart of your business. Attracting, developing, and retaining your talent, and ensuring that your talent remains engaged, is thus a key business imperative.
All of the best!
