The former Managing Director in Citibank’s Corporate and Investment Bank shares his experiences building the company’s EMEA alumni program.Read more
Three Ways To Navigate The Future Of Talent Management
We hear about three ways to navigate the future of talent management, as outlined by HR expert and speaker William Tincup
When it comes to talent management, William Tincup is a known expert in the field. He has years of experience in advising, consulting, speaking and mentoring on the subject and his insights are very relevant to the way a business engages its corporate alumni.
So, to gain some insight into the future of talent management, we turned to a recent blog post he wrote for Cornerstone.
Below is a summary of William’s three main points:
Three Steps For Effective Talent Management
1. Meet The Candidates’ Needs
In the past, employers had their pick from a wide field of suitable prospective candidates. Interview negotiations favored those doing the hiring as job hunters often had to take what they could get. There was very little room for negotiation on the candidate’s side.
Today the tables have turned. Skilled employees are in short supply in a growing economy with hiring pressures. Candidates with qualifications and experience know their value and are looking for employers who can recognize this and are willing to meet their needs.
In this competitive environment, where the interviewee often has the edge in a negotiation, organizations need to adapt and offer more desirable work propositions. The alternative is to run the risk of talented candidates moving on to a better offer.
When engaging with alumni about returning to work for your business or referring a potentially suitable candidate, the same applies. A person who has left the organization is not going to willingly put time back into it without there being value in it for them.
In this sense, the business has to respond with value-adds such as mentorship opportunities, ongoing training, or continued access to company perks in return for their valuable time.
2. Provide Opportunity To Learn And Grow In The Workplace
From a candidate’s perspective, opportunities for improvement and training in the workplace are seen as a priority. Instead of waiting for these topics to be brought up in an interview, recruiters should make it clear that they are interested in prospective employees’ growth and will create an environment conducive to learning.
This can be achieved by asking candidates ‘what’ they are interested in learning and finding out ‘how’ they learn best. Creating a stimulating workplace is valuable to keep candidates engaged and connected. It also drives growth and positive change within the organization.
Put this into practice with your alumni by inviting them to your training sessions or learning seminars. You already hold information on their career goals and can continue being an integral player in their career development. Doing so will keep the door open to future collaboration when the time arises.
3. Give Candidates The ‘Customer Experience’
A person’s experience and perception of a company undoubtedly impact whether they accept a position on offer. These also factor into their attitude, work ethic, and loyalty to the company in years to come.
It is the HR department’s responsibility to streamline this experience as much as possible, just as a company would do for any prospective or valued customer.
HR can create a positive employee experience by continually identifying and meeting employee needs. The team should also develop an environment that stimulates personal and professional development.
This matters with alumni too. Rolling out the white-glove service during onboarding to your alumni program, and continuing it while they are members of your community will ensure they stay engaged with your business.
Just as you would keep a finger on the pulse of employee sentiment, do the same for alumni sentiment. Regular feedback and input from them will help you to improve the alumni experience.
Clearly, the relationship between employers, candidates, employees, and alumni has shifted considerably over time and will continue to change in the future.
HR professionals need to re-examine the employee journey and be conscious of how they deal with their potential, existing, and former employees. Companies looking to up the ante in talent management should be willing to meet peoples’ needs and provide a supportive work environment with opportunities to develop new skills.