Wikipedia defines talent management as “the science of using strategic human resource planning to improve business value and to make it possible for companies and organizations to reach their goals.” While this is technically an accurate definition, it focuses solely on how people benefit a business — not how a business can benefit its people. A good employer-employee relationship should be mutually beneficial… and that means more than just working and receiving a paycheck.
Support for the entire employee life cycle
The way people work has changed, as have the motivations for making certain career decisions. A few decades ago, people strived to work for one company for 40 years and retire at 65 with a gold watch and a pension. That scenario is rare today; most people change jobs at least a few times during their career. Millennials — who make up the majority of workers today — change jobs every 3 years on average. For most employees, it’s less about climbing the ladder and more about making sure you’re on the right ladder. And that requires a certain level of support and an effort to prioritize engagement initiatives on the part of employers. Whether your employees are around for 3 years or 30 years, they need to be supported throughout their entire journey — from the first interview to the last day on the job.
Employees today want competitive pay and benefits, but they also want a sense of purpose and fulfillment in their careers. According to a report by Cornerstone, 89 percent of American employees would consider a lateral career move with no financial incentive. Why make a career change if you aren’t getting more money or a higher position? People want to enjoy the work they do and the culture in which they do it, and they value opportunities to grow and learn.
Engage employees with collaborative learning
Companies like Cornerstone are making it easy (and mutually beneficial) for employers to provide their workers with learning and growth opportunities. By creating a collaborative learning environment, employees can engage with their teams and gain important skills to excel in their jobs. It also allows organizations to cater training to each employee’s unique needs, and empowers employees to take learning into their own hands. Interactive trainings, videos, and virtual sessions make learning fun and engaging, and the Cornerstone platform is intuitive for both employees and employers alike. And as we know, engaged employees are happier, more productive, and more likely to stick around.
When it comes to talent management, it’s important to remember that your employees are human beings that need nurturing. As Ellen Humphrey, Appirio’s VP of Talent writes: “We can’t lose sight of the ‘talent’ in talent management.” Organizations can enhance the Worker Experience by tapping into the passions of employees and providing ongoing opportunities for learning and growth.