Talent Strategy is Business Strategy
Make sure your employee value proposition connects by considering the 3 key pillars of talent strategy, talent attraction, and employee engagement.
It isn’t always easy to know if an employee value proposition (EVP) is well received, but by starting with three key pillars — talent strategy, talent attraction and employee engagement — companies can be confident that their EVP will be reputable, both internally and in the external market.
Talent Strategy
Many businesses misalign talent strategy and business strategy, not realising the two work hand in hand. Some businesses may overlook it altogether, only addressing change when workloads become dire or when go-to employees burn out. A strong talent strategy consists of a plan, leadership buy-in, and an innovative approach.
Strategy and plan: A plan should reflect the company’s vision and be made up of small, short term goals that focus 3,6,12 months and beyond. It consists of employee growth forecasts and internal learning frameworks that support the development of staff. When leaders plan and forecast, it allows the business to be informed and influenced by talent insights in advance of the market alleviating the need for reactive recruitment.
Governance and leadership: Leaders need to devote significant time to talent strategy — not just touch on it sporadically. Talent management should be included in round table discussions and seen as a major stakeholder, making up an important business stream in the governance framework. The market, no matter the industry, is fluid, and leadership should be prepared to pivot strategically to keep up.
Innovation: The world is moving at a rapid pace and people are adapting and changing quickly. Something that was innovative three years ago, may be redundant today. Therefore, best practices for talent attraction and engagement need to be regularly evaluated and evolved, based on market trends. When talent management is at the centre of a company, the business has an opportunity to pioneer new approaches that could become the benchmark for an industry.
Talent Attraction
In today’s market, it’s less about acquiring the job and more about acquiring the candidate — hence the term, a candidate-driven market. Talent attraction requires on-going effort in the areas of talent acquisition, employer brand, and nurturing a sought-after company culture.
Talent acquisition: Successful talent acquisition aligns with business strategy. When there are clear and measurable targets for people growth, talent teams can source future employees more effectively. Acquiring talent through job ads can make up as little as 5% of a company’s workforce, so it’s imperative to be interacting with active jobseekers and passive candidates (those not currently looking for a change). It’s important for talent teams to cultivate relationships with industry professionals continuously, creating pipelines that align company values and candidate value-add. Most importantly, the business must consider the skill set of a person, not just a job description.
Employer brand: Employer brand plays a large role in talent attraction. Candidates will explore company websites and Glassdoor employee reviews, and they will reach out to mutual connections. Therefore, it’s important to evaluate and develop how the business brand is perceived, internally and in the market. Talent teams are brand ambassadors and should be able to promote a culture they are proud of and believe in. If a company wants to “sell the dream,” then employees need to be empowered to “live the dream.”
Culture: Company values don’t always equate to company culture. Unfortunately, over time, employees have borne witness to slogans and values that crumble or lose their illusion. As a result, it takes people longer to trust in a company’s EVP. However, culture breeds culture. When a business is determined to live and breathe its values, employees will have the confidence and willingness to follow suit. This positive ripple effect will also attract talent in line with the brand’s vision, and they will be eager to join the great working environment.
Employee Engagement
Strong employee engagement encompasses people empowerment and involvement, consistently. Team members must feel connected to the business vision, be updated regularly, and have an authentic voice. Employee engagement consists of diversity and inclusion and overall employee experience.
Diversity and inclusion: A diverse and inclusive workforce should be top priority for all organisations, and equal opportunity must exist for each individual. Recruitment should reflect the diversity found within the community and have a strong focus on underrepresented groups. Recruitment practices should also ensure equal opportunity to candidates, regardless of background.
Leadership advocacy will build awareness and help create a feeling of inclusion among employees. Similarly, diversity and inclusion initiatives, including active affinity groups, are a great way to build understanding and recognition, as well as supporting individuals who may identify as or with an underrepresented group.
Employee experience: Employee experience comprises the thoughts, feelings, and insights of all people within a business. Initiatives should accommodate the diversity of each individual, as well as connecting team members to the business vision. Every interaction counts, and it’s important to consider and address all feedback. People must feel safe and heard. After all, employee feedback is the strongest influence on company culture and should be an important part of the business approach.
Experience spans across all areas within an organisation, including working groups, peer engagement, learning and development, company events, and every day happenings. We advise developing your employee experience strategy separately from your talent strategy to make sure all areas of experience are met and exceeded.
When implemented successfully, a well-anchored talent approach can, and most certainly will, help deliver on business outcomes more efficiently. It will encourage people to be passionate about their work and eager to contribute to the success of the business.
Here at Slalom we focus solely on our people, continuously learning from each other and constantly adapting our employee value proposition to reflect modern values.
Our organisational effectiveness team in Slalom Australia has created a talent model that can assist any business in implementing a successful talent strategy that adapts to any internal landscape. If you would like to discover how your business can optimise its talent model, reach out to australia@slalom.com to have a chat with one of our consultants.
Slalom is a modern consulting firm focused on strategy, technology and business transformation. Learn more and reach out today.
