Whether you’re new to HR or a seasoned vet, understanding talent management—and everything it entails—is critical to recruit and retain top talent. So, let’s start with the basics before we dive deeper.
You may be asking yourself: “What is talent management?” Well, from its most basic definition, it’s the strategy of getting the right talent in the right position and helping them grow in their roles. But as you may know, that’s easier said than done.
To get talent management right, HR leaders need to understand the different stages of talent management and best-in-class strategies to recruit top talent and help employees grow.
1. Develop a Careers Page
77% of all job seekers will go to your website looking for available positions (Zety).
Paycor Pro Tip: If you don’t have a careers page, you may be missing out on top talent that’s literally knocking at the door.
2. Post Relevant Job Descriptions
Which parts of the job description do job seekers consider the most important?
- Compensation – 61%
- Qualifications – 49%
- Job Details – 49%
- Performance Goals – 33%
- Company Culture – 28%
Source: LinkedIn Data
Paycor Pro Tip: Candidates don’t want to read a novel when they click on your job post. In fact, LinkedIn data shows that job seekers will only spend 14 seconds deciding whether or not to apply, so it’s important to make your job posts scannable.
3. Build a Candidate Pipeline
Did you know, the average time to fill an open position is 42 days? Starting a new recruiting process fresh for every new position is highly inefficient. That’s why many companies leverage a candidate pipeline.
Here are 5 key steps to build an efficient candidate pipeline:
- Identify the roles you fill the most
- Determine the requirements for those roles (skills, culture fit, etc.)
- Source great candidates to fill your pipeline using LinkedIn, networking events and referrals
- Engage your pipeline and stay in touch to keep candidates warm
- Measure your progress and adjust your strategy as needed
Paycor Pro Tip: Just because you pass on a candidate for one role, doesn’t mean they aren’t the perfect fit for another.
4. Ask Strategic Interview Questions
On average, HR leaders only have about 40 minutes to interview candidates. (Seedscientific)
That’s not a lot of time. How can you ensure you hire the right person? Ask these 5 fact-based, scenario and behavioral questions and prompts:
- Describe a time when you exceeded expectations
- Tell me about a time when you made a major mistake
- Where do you see yourself in 5 years?
- Describe a time when you dealt with conflict at work
- Describe a time when you missed a deadline
Paycor Pro Tip: Try hosting company tours and team lunches. Have other employees meet with candidates to get a better feel for if they’re a cultural fit.
5. Implement Employee Onboarding
Focus on the necessary tools and info they need to hit the ground running:
- Simplify your process for new employees
- Assign an onboarding mentor
- Schedule frequent check-ins
Paycor Pro Tip: One common mistake many employers make is only focusing on the first few days or weeks of the onboarding experience. Onboarding is an ongoing process and should never end. That’s why companies invest in workforce training & development tools.
6. Employee Development and Continuous Training
94% of employees say they’d stay at a company longer if there was an investment in learning.
Here are some employee resource groups (ERGs) that can help your employees grow professionally and personally:
- Women’s Inspiration Network
- Toastmasters (Public Speaking & Leadership Club)
- PRISM (Diversity & Inclusion)
- Young Professionals (Career Pathing for Younger Employees)
Paycor Pro Tip: Survey your employees and ask them which ERGs they’d like to see at your organization. Their input should be highly considered.