Talent management is all about knowing how to attract, develop, inspire and maintain the best and most capable employees, all of whom have what it takes to help shape your business and assist with its growth. Below, we take a look at the top talent management trends of 2016.
Employee Benefits and Incentives
Ten years ago, the best way in which to attract valuable new employees was to offer them a promising pension fund and / or a reliable medical aid; and, while these benefits are still of the utmost importance, they simply aren’t enough to entice and maintain the best of the best. In this day and age, the companies that opt to steer away from the ‘norm’ in terms of benefits and incentives tend to attract the most attention and spark the most interest. Things like weekly yoga lessons for stress relief (perhaps taking place on Friday afternoons during lunch hour), or a business game room (stocked with interesting items such as a pinball machine and / or a pool table) that is easily accessible when employees need a few minutes to unwind, are both excellent ideas. Worried about productivity taking a knock? Fear not. Many studies have shown that employees who receive benefits and incentives like the ones mentioned above tend to work harder and become more focused over time, leading to increased levels of productivity and a happier work environment in general.
A New Approach to Management
By actively engaging and involving your employees when it comes to planning for the future of the business and making all-important decisions that will affect its long-term goals, you are sure to increase your chances of retaining talent. A transparent approach to management helps to improve employee motivation, thus making them feel as though they are actually a part of the company, rather than just simply working for it. When an employee feels connected to a company, he / she will be far less likely to ‘abandon ship’ (as it were) in search of ‘better’ opportunities.
Back in the day, working a traditional nine to five job was a given. Today, however, thanks to the technological advancements that the digital age has brought about, these strict working hours are no longer necessary, nor are they appreciated by most working professionals. Depending on the position which an employee holds, he / she might feel more comfortable working from home or working flexible hours. This does not mean working less, but rather working smarter. By giving your employees the freedom to choose their own working hours, (for example, one employee might feel more productive in the early mornings and choose to come into work before seven and leave at four, while another might prefer to work later in an effort to avoid sitting in traffic and choose to work from 10 until 18:30), you will be helping to not only boost their productivity, creativity and levels of motivation, but you will also be providing them with a benefit that is sure to keep them around for a much longer period of time.
Ultimately, when it comes to ensuring efficient talent management and retention in 2016, more flexibility and creativity is required from HR managers across the globe. By doing your best to listen to, and cater for the needs of your employees, obtaining and holding onto the best of the best is sure to prove easier than expected. Remember, as Renee West once said, “You can have the best strategy and the best building in the world, but if you don’t have the hearts and minds of the people who work for you, none of it comes to life…”