Step 6: Talent Strategy
Organizations can only succeed in the marketplace if they place the right talent in the right performance conditions. The research to this point has been focused on the performance conditions, but we will now shift our focus to the talent side of the equation, which is just as important. With weak talent, even the ideal conditions result in below-market performance. Strong talent in poor performance conditions also results in below-market performance. Only strong talent and the right performance conditions result in a winning formula for growth.
Talent strategy is where the direction for the company’s talent department is determined. It supports the talent needs of the other revenue-generating functions: product, marketing, and sales teams. Talent supplies the people required to execute the functional strategies, market research is useful to understand the types of talent the market values, and the corporate strategy defines the qualities that talent must embrace to fit in the internal organization.
What is a Talent Strategy?
Talent strategy is a benchmarked program that assesses, recruits, onboards, develops and retains a team of top producing sales and marketing executives.
What Does a Talent Strategy Do?
Talent strategy helps executives build a great team to lead their sales and marketing departments.
What does It Mean to Use a Talent Strategy?
The use of a talent strategy means leaders will have confidence that their teams can execute the product, marketing and sales strategies.
To learn more about SBI’s talent strategy process, visit Talent Strategy: Methodology.