Author: Amira Kohler at Plus HR

When to use this guide:

• Our organisation needs a talent management strategy and it needs to complement, rather than contradict, the rest of the HR agenda
• I am due to develop a talent management strategy for the first time
• I will need to gain buy in to the proposed strategy and will need a business case

10 steps to successfully developing a talent management strategy

1.  What business issue are you trying to solve?
Talent management has become a buzzword, bandied around by HR professionals and business leaders alike, and is increasingly perceived as a ‘must have’ by any credible organisation. Fine – but start by clarifying exactly what issues you are trying to solve, for example:
o retention of the best performers
o lack of successors to senior positions
o over-reliance on external recruitment over internal promotion

2.  Check you have a ‘burning platform’
Establish whether these issues really do present a genuine business dilemma or risk; consider whether there is a ‘burning platform’. Consider for whom this is an issue - the CEO / a particular department / only HR? Building and delivering a successful talent management strategy will take time and money – you want to know there is genuine commitment before you create your strategy.

3.  Define what success would look like
Discuss with key parties what success would look like for the organisation and for them. This should cover both quantitative measures (KPIs) and qualitative measures (what success will ‘look and feel’ like). You will use these measures later to help build the business case.

4.  Recognise that talent management is not a stand alone activity
Understand that talent management is not a stand alone activity that can be effectively created and managed in isolation from existing people management activities. Rather, talent management is an umbrella term covering a range of subjects, many of which will already be being tackled within your organisation – for example, recruitment and attraction, performance management, training and development, succession planning. 

5.  Conduct an audit to clarify the essential elements of the strategy
Ask lots of questions to uncover what the essential ingredients of the talent management strategy need to be. This is a critical stage which will ensure your strategy delivers integrated talent management processes. (The How To Guide: ‘How to develop an integrated talent management process’ explains this stage in more detail).

6.  Consider this in the context of your organisation
Clarify what people management processes already exist, what could be improved, what are missing etc. For example, is your recruitment activity successfully attracting talented candidates? Does your performance management system accurately identify talented individuals? Is a fair proportion of your training and development budget targeted at talented individuals?

7.  Create the talent management strategy
Pull together your talent management strategy outlining what needs to be done in the light of existing HR processes and teams. This will ensure the outcome complements, rather than contradicts, the rest of the HR agenda.

8. Gain buy-in and approval
Define your business case emphasizing the burning platform which is driving the issue. The business case should detail the financial cost and benefits of the programme as well as the risks of not taking action (e.g. all our competitors are doing it and we’ll start to lose our talent if we don’t catch up).

Discuss your talent management strategy with ‘allies’ around the business and your HR colleagues first. This will both give you valuable feedback, but also will help you to secure buy in and understanding from within your team to ensure HR presents a ‘joined up’ approach to talent management. 

9.  Present the strategy
Present your talent management strategy and business case to secure appropriate resource, budget etc.

10.  Proceed with implementation
Now you have a well thought-through strategy, and approval to go ahead. You can now get on with building your integrated talent management process.

Typical outcomes from developing a successful talent management strategy
• Improved business results / a reduction in the business issues which the talent management strategy was designed to address, e.g. increased ability to attract the very best to join your organisation, increased retention of high performers, reduced reliance on external hires to fill critical senior positions 
• Talent management activity is rooted at the heart of the business and is seen as a credible activity which reflects well on HR
• It is easy (or easier!) to gain buy in and commitment from line clients and to secure budget and resource
• HR is recognised as an integrated, mutually-supportive department which does not suffer from ‘right hand not speaking to left hand’ syndrome

This guide was prepared by Amira Kohler, a talent management expert within plusHR Consulting. plusHR works with organisations of all sizes to create and implement business-focused, practical solutions to talent management issues. Visit www.plusHR.com for details of plusHR’s talent management, HR and change management solutions.

Disclaimer:
This guide is provided for guidance only. The provided information, whether ‘How to guides’, policies, procedures, samples, examples, or guidelines, while authoritative, is not guaranteed for accuracy and legality. While we make every effort to provide and link to accurate, legal, and complete information, we cannot guarantee it is correct for a worldwide audience. Please seek legal assistance, or assistance from your local or international governmental resources, to make certain that your legal interpretation and decisions are correct.