Talent management mistakes can lead to poor employee retention and poor performance that can impact a company’s profitability or reputation. Here are some of the most common talent management mistakes and how your company can best avoid them.
1. A lengthy hiring process
If the hiring process drags on for weeks or months, good candidates—maybe even the best ones—will give up and pursue other opportunities, or will be pursued by other companies. Bottom line, you will lose them if you take too long to get through the process and make a decision.
2. Failure to communicate
Communication is important all throughout the hiring process and afterward. Keeping candidates in the loop will keep them engaged until the end of the process. If you need more time to make a decision, let the candidates know in a timely manner so they do not get frustrated.
3. Ignoring problems within your hiring team
When problems develop within a hiring team, you may be tempted to ignore those problems and hope they will just go away on their own. While heavy intervention may not always be necessary, some guidance can improve hiring team relations and collaboration so that productivity will not be hampered.
4. Failing to deal with career development
If your company does not offer career pathing and development, do not expect your top employees to stick around very long. Top talent knows its potential for growth, and companies that do not recognize this will be left behind in favor of those who will encourage, train, and shepherd employees so they can grow and develop within the company.
5. Lack of accountability and recognition
Accountability and recognition are two sides of the same coin. Holding employees to a standard and expecting them to be responsible for their work and its results goes hand in hand with recognizing them when they do meet the standard and produce good work. Lacking either one of these is a talent management mistake that will cost the company dearly.
6. Resisting change
Change is inevitable, and companies that do not embrace change in their talent management strategies will not be able to keep up with their competitors as time marches on. Not only should companies not resist change when it represents an improved talent strategy, but they should pursue it with great intensity if they expect to succeed.
A talent management solution like ThriveTRM can help companies avoid talent management mistakes by providing a systematic, measurable approach to talent management. Using ThriveTRM can help you reduce or eliminate all of the above-mentioned mistakes.
This software speeds up the hiring process and provides an easy way to communicate with candidates and keep them updated on their status. It collects data on team functioning to identify problems that need resolving. It provides a plan for career pathing and keeps all relevant parties in the loop. It also prompts leadership to recognize achievements as well as adapt to changing conditions. Your company needs a robust talent management solution; contact us for more information about what ThriveTRM can do for you.