Without a solid Talent Strategy, functional leaders will lack the confidence that their teams can work to beat the estimates next year.
Still, HR can’t just rush into the hiring process. If you go straight to onboarding and succession planning, you could be missing key elements of your Talent Strategy. To be sure each team operates at the fullest potential, you must provide them with only the best talent in the industry.
Here’s how to do it. A strategy will only produce the efficient results if it is executed by the right talent.
Defining Your “A” Players:
The first step of the Talent Strategy is to develop the profile for an “A” player in each key revenue growth role.
This is often a challenge because functional leaders rarely agree on the definition of an “A” player. As a result, HR struggles to fill each open position based on the unique needs of the hiring manager. And this leads to larger variations in performance—making a process that is not sustainable or scalable.
Before the Talent team tries to onboard new hires, they have to first clearly outline who is responsible for defining each hiring profile as well as which competencies go into each profile. From there, HR can work with the functional teams to figure out what they’re willing to pay for candidates that fit these hiring profiles.
Assessing Your Current Talent Team:
The second step of the Talent Strategy is to assess how each member of the Corporate, Product, Marketing and Sales teams match up against their hiring profiles. From here, the Talent team can discern which strengths exist within the company, and which holes need to be filled.
After all, a strategy will only produce the efficient results if it is executed by the right talent. Don’t be caught with a talent shortage that causes your revenue growth plans to fail. Identify the gaps that need to be addressed, and make those decisions a priority.
To make this process as smooth as possible, it’s important that the Talent team identifies who is responsible for these talent assessments and ensure that they’re consistent across all teams. Only then can the Talent team perform these evaluations and put a developmental plan into place to close any gaps.
Hiring To Make The Number:
Talent is only one part of the equation. To beat the estimates next year, your company also has to foster the best performance conditions. That means that every functional unit needs to strategies that are aligned. This will not only make the Talent team’s job easier, but will also set up the entire organization for success.