Your human resources and talent acquisition teams have a pretty obvious goal: source, hire, and retain the most promising talent whose work contributes to company goals and who have the potential to grow with the company. What isn’t so obvious is just how that team gets to the end goal. There isn’t a simple, one-size fits all answer, but a robust talent management solution is an excellent place to start building an end-to-end strategy.
An effective talent management solution must include these four pillars to support a solid talent management strategy: role management, competencies, goal tracking and alignment, and tools for employee engagement. To optimize your talent management system (TMS), you’ll need to fully understand how these four pillars fit together.
First, let’s define talent management, then we’ll discuss the four pillars your talent management system must support.
What is End-to-End Talent Management?
End-to-end talent management considers every stage of the talent lifecycle, from application to offboarding. It also takes into account the employee journey, including performance management, engagement, professional development, and career paths. Talent management is about hiring the right person for the job, giving them the tools they need to succeed and grow, and promoting them into a new role or offboarding cordially. Talent management processes range from the application and hiring process to performance management and development to exit interviews.
Talent management software can help your HR team both implement high-level strategies and handle daily tasks required for end-to-end people management. Look for a full lifecycle talent management platform that supports these four essential pillars.
Pillar 1: Role Management
Did you know that less than 50% of employees “strongly agree” they know what is expected of them at work? Having clear expectations is one of the foundational elements of employee engagement and a requirement for success in every role. But according to Gallup’s 2022 employee engagement survey, fewer employees than ever feel they have clear expectations at work.Defined roles support transparency and trust as part of your company culture. Get #talentmanagementsoftware that supports role management:
With an end-to-end talent management solution, it’s simple to communicate roles and expectations clearly. You can create roles with detailed job descriptions and skills and experience requirements, which benefits both employees and recruiters when they’re hiring for the position. You can also set specific goals employees are expected to achieve for each role.
Managers can set baseline key performance indicators (KPIs) based on previous employees’ performance. Employees can see what they are expected to complete and monitor their own progress, coming back to their KPIs and role descriptions when they need to prioritize.
This is helpful in a few ways:
- Eliminates confusion and helps employees stay on track
- Helps managers set clear and fair expectations for each new employee
- Enables more actionable, useful performance conversations and reviews
- Talent management systems save role descriptions so HR can quickly duplicate processes for new hires
These are far from the only benefits of having access to role management in your talent management solution. Defined roles support transparency and trust as part of your company culture. Clarity also will encourage employees to meet expectations because they know what they’re supposed to be doing, reducing uncertainty and increasing confidence.
Even better, noticing and rewarding employee contributions are easier than ever. With clear expectations and goals, it’s apparent when employees go above and beyond or are high performers with valuable skills that may make them good promotional candidates. It’s also obvious when they’re falling short and may need extra training or a performance improvement plan (PIP).
Additionally, a role-based system will allow you to “set it and forget it.” Determining things like interview questions, onboarding packets, software permissions, and performance review cycles at the role level will allow you to create an efficient and scalable process to pair with your strategy.
Pillar 2: Core Competencies
Any good end-to-end talent management solution will allow HR and management teams to input KPIs and articulate what excellence, proficiency, and underperformance look like in the company or particular department. It should also allow your organization to define core competencies for every role. Along with more transparency around role expectations, core competencies are critical for measuring and driving your employees’ performance.
Role core competencies describe both technical skills and behavioral skills employees need to perform in the role. They define the ideal candidate for the position and provide a framework for measuring performance and identifying top talent. Every role, department, and company will have different expectations, so the technology should allow full customization of core competencies in order to give users the most value.
For example, some of the technical skills required of senior accountants at your company are proficiency in creating budgets and preparing financial statements. The role also requires that candidates demonstrate high levels of skill in behavioral competencies including analytical thinking and attention to detail. If the role has any direct reports, your organization may also add leadership competencies to the role requirements.
A talent management solution should be a link in supporting an employee’s career trajectory both for the individual and their leader. With competencies or key attributes clearly defined, it’s easier to help employees grow their strengths and have conversations about career development. That’s especially important considering the fact that 61% of U.S. workers told SHRM that upskilling opportunities are a top reason to stay at their jobs.Did you know 61% of employees say #upskilling opportunities are a great reason to stay at their jobs? Look for a #talentmanagement solution that supports their growth:
Core competencies help employees maintain focus on where they need or want to improve and make it clear to managers when they’re crushing their goals or need a hand. Employees are aware of the competencies they need to develop and how they can push their own roles to become high-performing and eligible for promotions.
Similarly, if an employee is consistently hitting the mark, the manager can see a clear direction for their next move, whether it’s a title change or development initiative. The manager can practice active performance management and coach employees to the next level of their careers.
Pillar 3: Goal Planning, Tracking, and Alignment
An end-to-end talent management solution facilitates strategic learning and development by providing goal management tools. Goal management tools allow employees and managers to plan and track goals. It opens a window into projects, gives direction to meetings, and tracks accomplishments. Goals clarify what needs to be done and when and keep tasks on track.
An even better talent management solution will help your managers and employees establish the connection between the company and individual goals with goal alignment tools. Goal alignment shows individual contributors how their work contributes to the success of the company. It also increases transparency since employees will have more insight into their colleagues’ and company's goals.
Pillar 4: Tools for Employee Engagement
Employee engagement can certainly be a complicated piece of the talent management puzzle. It’s an ongoing commitment, and you will find there are peaks and valleys in engagement levels both within teams and across your company. Employee engagement is a critical component of talent management strategy and essential for productivity. Without it, your company can incur costs associated with disengagement and miss out on the benefits of a highly engaged workforce.
- Disengaged employees can cost your business up to 18% of their salary.
- Companies whose employees are highly engaged are as much as 23% more profitable.
- Engaged employees are 87% less likely to quit.
The right end-to-end talent management solution should provide tools to measure, analyze, and promote employee engagement. Those include:
- Employee surveys on a variety of topics including engagement, job satisfaction, onboarding processes, wellbeing, and diversity, equity, and inclusion
- Recognition and celebration features that enable employees to applaud their coworkers’ accomplishments and milestones
- Goal setting tools, which motivate employees to do their best and facilitate transparency
- Reports that allow HR and managers to analyze trends and make informed, effective adjustments to their strategies
Choose an automated software program that has these tools and can compute data quickly, effectively, and accurately to take the burden off of your HR team. Dynamic software programs that are equipped to handle these employee engagement strategies are a must for organizations that want to retain their existing employees.
Integrating the Four Pillars for an Efficient Talent Management Solution
Although it is easily possible to choose various tool integrations that answer the four basic pillars mentioned above, companies that consider investing in a talent management solution should consider the pros and cons of purchasing a software program that allows both flexibility and versatility.
No workforce survives being overlooked and an end-to-end talent management solution should be that support system. Regardless of whether you decide to choose a standalone recruitment program or an integrated admin and performance program, remember this is an investment in the future of your company. Your people are your biggest asset, so choosing a system that grows with you is a wise solution.
Get ClearCompany’s Talent Management System Buyer’s Guide to help you make the best choice for your business. We’ll walk you through every step of the process to help you make a decision on the right talent management solution with confidence.