EXECUTIVE SEARCH & RECRUITMENT
Sustainable business growth is something that most business leaders strive to achieve. Their business strategy is usually focused around making significant gains in both financial terms and in size – this can mean locations or new divisions, but few focus on talent planning. It is key however that during the business planning
stage, talent planning comes high on your priority list of considerations, as without a well thought out people strategy, aligned to the business plan, you could be jeopardising your success before you have begun. Here are five simple steps to get you started:
1. START AT THE END OBJECTIVE AND WORK BACK It is likely that you have spent a considerable amount of time deliberating over what you would like to achieve over the next three to five years. Look at what you want to achieve and consider what people you are likely to need to achieve these ambitious goals.
2.TIMELINE ALL PROSPECTIVE PEOPLE CHANGES It’s important to know when you are likely to need new talent – bringing in new talent or promoting your existing talent without a timeline can result in badly-timed impulsive hires which can be detrimental to longer term growth.
3.UNDERSTAND WHAT SKILLS YOU WILL NEED RATHER THAN WANT
It is easy to get carried away with the prospect of accessing new skills by bringing in all-singing and all- dancing talent, capable of great things. It is however important to ensure that you get the essential skills to growth – ensure that the roles you are considering have been reviewed in line with the new role objectives. Any additional or extra skills should be seen as a bonus –
this should make things easier on the headcount budget too.
4.CONSIDER YOUR EXISTING TALENT Never forget that you have a fantastic talent pool available to you already, think about how you may be able to develop or nurture your existing people to reduce potential attrition and more importantly keep tacit knowledge within the business.
5.CHALLENGE NORMALITY Just because you have always done things in a certain way, don’t fall into complacency that this is the only way to do it, or is the best way to do it. Plan, do, review – it’s a sure- fire way to develop better practices and make positive changes. Talent Planning doesn’t have to be difficult, but it does
need to be structured and well thought out alongside your business plan. Ensuring that you have a cast-iron people strategy in
place to develop your business will help keep you one step ahead of your competitors.
FEATURE
business network December 2018/January 2019 49
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