Talent Management Lifecycle

Today, more than ever, talent is a critical business function. The Great Resignation looks set to continue as we move forward into the summer of 2022.

Today, more than ever, talent is a critical business function. The Great Resignation looks set to continue as we move forward into the summer of 2022.

Well, we know the pandemic caused many people to re-evaluate their priorities in relation to work and family. Plus, companies are continuing with plans to change technologically, which requires new skillsets. Additionally, the importance of diversity, equity and inclusion cannot be overstated.

The Opportunity is Huge
For those organizations that take the time to understand these important changes to how we work, the opportunity is huge.

To really understand and serve the talent inside and outside of your organization, a holistic approach is required. One that considers and manages the whole talent lifecycle – from hiring, to development, to exit. The businesses that take this chance and use it to create a long-term strategy, will gain the upper hand in the race to attract, develop, and retain top talent today and in the future.

Let’s Talk Talent Management Lifecycle
Talent Lifecycle Management is all about taking a holistic approach to your talent strategy. It’s about developing long-term strategies for managing talent across your organization. It includes everything from attracting candidates, to the development of employees, to offering internal mobility opportunities, and engaging with your seasoned workforce.

Why does it matter?

Smarter Recruiting
Hiring and retaining talent has become paramount to most organizations, as they strive to keep pace and gain a competitive edge. Thinking strategically and with a talent-first approach puts power in your recruiting team.

By focusing on skills, you get a more realistic view of talent, and a richer data source to make wiser decisions. It will help you forecast your skill needs, better pinpoint hiring requirements, and enable tailored internal development journeys.

Engaged Employees
Retention is a big challenge, but a surmountable one. If you give people the opportunity and resources they need to learn and grow with your business, they’ll be more likely to stay and feel fulfilled. Happy employees tend to stay the course and opportunities for internal mobility will keep your top talent engaged.

Business Growth
A holistic approach makes it easier to align your talent strategy to your long-term business goals. You can move beyond traditional metrics and look to the more business-aligned metrics that are allowed by skills-based and lifecycle management data.

  • What percentage of your workforce have we upskilled?
  • How much have you increased retention?
  • Where are the skills gaps, the risks, the opportunities? 

Adopting a Talent Lifecycle Management Approach

1. Skills Audit

The first thing you need to understand is the status quo. What skills does your company already have? What are you lacking? What needs does your team have today, and in the future?

Once you’ve started to create an inventory of skills, zero in on the ones that will really move the needle in the business, and think about how to attain them.

2. Integrated Data
To capture this data, and to make the best use of it, you need the right tools. A centralized talent data platform is your single point of truth for talent-related information. A good database will unify information from different data sources, and serve it up in a meaningful, reliable way. 

3. Deeper Analysis
With this single view, you can start seeing talent as individuals with an active, evolving skill set. Rather than a static snapshot of skills fulfilling a role, you see a trajectory:

  • Where have they been?
  • What is their potential for growth?
  • How you can help them get there?

This allows you to improve your internal mobility and make the most of the skills sets you already have in the business.

Let’s Get Started
By taking the time to understand people at the level of skills, and consider the whole talent lifecycle, you can create a long-lasting talent strategy.

AMTRA can help connect the dots when it comes to understanding your talent pool.

Contact Us

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