5 Key Components of Talent Management

October 20, 2021 5 Key Components of Talent Management

This pandemic quickened a LOT of changes in the professional world. And no matter the industry, 2020—and now, 2021—changed the way HR departments operate. HR professionals had to move from transactional management to a more defined, strategic “people first” talent management approach, instantly.

So, what does this mean for your company? For starters, business leaders looking to align their strategic priorities with organizational goals should first look at their Human Resources department.

By focusing on talent management, you will create an employment ecosystem that adapts to—rather than reacts to—change. You will align and maximize employee experiences, and thus, productivity. The 2021 McLean and Co. HR trends report noted that organizations that placed greater focus on employee needs saw:

 

  • A 1.5% increase in overall organizational performance
  • A 1.4% increase in workforce productivity.

A change from a stagnant operation into an agile organization comes with a redefinition of HR and a focus on the key components of talent management. DB Latimore provides a multitude of operational effectiveness assessments, professional coaching, leadership development, and team productivity management to help you do just that. Our Platinum programs empower business leaders and HR professionals to put P.E.O.P.L.E.® first.

The Five Key Components of Talent Management

Recruit 

“Work” has recently been redefined—more “the thing I do” and less “a place I go.” In our new hybrid world, we need a new understanding of how best to recruit talent and a new definition of workplace diversity, which includes racial, ethnic, and gender diversity., while simultaneously encompassing other aspects of diversity.

The DB Latimore Professional Coaching Services Group advises developing more inclusive job postings. Include your DEI goals, highlighting the importance of emotional intelligence and technical capabilities; supported by the requisite education, experience, and availability. The hybrid workforce will consist of a mix of full-time, part-time, contract, and remote employees. Ultimately, finding the right people for your organization will promote productivity, and get you one step closer to operating as a peak performance group.

Retain

According to the 2021 McLean and Co. HR trends report, over 50% of employees surveyed want more support from their employers. Compensation, work environment, growth options, and a strong support structure were listed as the top four assets an employer can provide.

The DB Latimore Professional Coaching Consultations can help you and your organization refine your retention strategy to foster a more cohesive, productive environment. Our management consulting services provide personalized HR strategies across the board.

Develop

While implementing a defined learning and development strategy is documented to improve HR effectiveness, only 52% of surveyed organizations have one. DB Latimore management consulting assists organizations by strategizing professional development programs, seminars, and training. By maximizing the potential of your employees through valuable learning and development programs, you can increase cultural buy-in, improve efficiency, and encourage a more positive, productive workplace.

Reward & Recognize

In today’s workplace, rewards and recognition go together with retention and development. In fact, many workers state that they see learning and development as a reward. Today’s rewards systems can and must go beyond traditional financial incentives and evolve to enhance the employee experience by investing in professional development.

DB Latimore’s management consulting services can personalize rewards programs and recognitions for your diverse staff. Our Professional Coaching Services coaches can help you empower your teams through training, wellness programs, achievement accolades, and growth opportunities—tailored specifically for your team.

Maximize performance

DB Latimore management consulting specializes in developing peak performance groups through talent management, including performance/potential reviews. Your HR department and the Platinum DB consulting coaches can help you get to know your employees, from work and communication styles to productivity charting. With increased insight, you can use trusted data from your workforce to strategize key performance tactics for your staff and your business.

Your organization’s talent management should always align with its business strategy. By utilizing our exclusive Productivity Powered by P.E.O.P.L.E.® framework, our programs—include initial consultation, diagnostics, leadership assessments, and behavioral-based solutions—each customized based on your needs.

Interested to learn more about how DB Latimore Professional Services can help your organization? Visit dblatimore.com/contact to request a consultation and design your custom package today!