There's more to talent management than making hiring decisions. The talent management lifecycle spans from your very first conversation with a job seeker, through to interviewing them, extending an offer, their experience working at your company, and the exit process if they choose to move on. Are your processes setting your organization up for success?
Your relationship with employees begins before they sign a job offer. A well-crafted recruitment process attracts the best and brightest talent, making them want to work for you. From your employer brand, to the interview process, to your communications, how you interact with potential employees before they sign on the dotted line all contribute to their impression of you.
Boosting employee productivity isn't about making employees work harder or asking them to track more KPIs. Productivity is often tiedto training and development. Are you offering employees the tools, training and support they need to turn in their best work?
It's estimated that finding and training a replacement for average worker costs about 20% of their annual salary. Those costs add up. Even a small increase in employee retention can cut recruitment and talent management costs significantly. But first you have to give employees a reason to stay with your company.