“Talent Management” is one of those buzz words flying around lately and everyone will have their own definition of what it is and how they approach it in their company, but in my view Talent Management is just the upgraded version of Mentoring.
Mentoring to me isn’t assigning an experienced employee to a new employee to help them learn the ropes and integrate into the company quicker. Mentoring is “coaching and training one’s replacement.” Remember when we were told to do that? That we should always be training the person that will replace us so that we can move forward in our own careers?
In today’s job market, there may be plenty of applicants to choose from but the best practice has (and should still be) to promote from within first when you have an open position to fill. Let’s talk the reason why this should be a company’s “best practice”:
- It takes less time to bring a current employee up to speed with company goals and expectations that a new employee because they will already be vested in the company and ready to hit the ground running.
- There is also less time spent getting the remaining employees to accept the “new” person in the role as they won’t be viewed as an “outsider” trying to change things from how they have always been.
- You spent the time and money to train this person when they were a new employee initially so you are saving that money promoting from within.
- Today’s employees aren’t staying at companies for years on end when they don’t feel that there is some potential for growth, so promoting from within satisfies their desire to grow while saving the company money associated with recruiting an outside person.
- Promoting from within will also show the remaining employees that your company truly cares about them and their growth – so you win loyalty points from them as well.
- Finally, its creates the type of company culture – a company that cares – that will also help attract future employees when you are ready to hire from the outside.
Will this approach always be the best fit? Obviously, not as it will depend on the position itself, the company’s need and the pool of talent you have. But, if you haven’t been practicing this type of “grooming” in your workplace, you may have no idea what skills or talent are already on your payroll!
If your employees know that they may be considered for open positions now or in the future, you will find:
- Employee productivity will likely pick up as they set out to try and prove themselves in their roles.
- Employees will be more open to share their ideas and suggestions for change and improvement in the workplace – up to and including new positions they feel should be created to help benefit the company.
- Some employees may even seek outside skills training (at their own expense) to improve their position in applying for one of these open roles.
So, as you are reviewing or creating your “Talent Management Program” at your company, remember that in addition to reviewing your job descriptions, recruiting strategies, performance reviews and training programs that you have added this long last art of “mentoring” back into your program.