Should you grow talent in-house or should you source them from outside? Well, the conventional talent management practices across organizations have focused on recruiting the right talent from external sources, with regular monitoring to benchmark performance. However, in today’s scenario, workforce management has gone a step ahead – leaders across are focusing on developing talent in-house.
Developing talent in-house is critically important to the future of every company. These days, businesses struggle to fill critical positions at many levels in what’s been called the “war for talent.” Remember this thumb rule – “If you can’t find the talent you need, then grow it.” The ability to see talent internally, unlock their full potential, and find not just the best employee for each role, but also the best role for each employee is crucial to running a top-notch team.
In short, to be a successful leader today – you need a crucial skill, which is talent management. The most important one being – developing talent in-house. Because having the right people in the right positions is the most crucial factor for organizational success. To help you develop talent in-house, we have outlined a checklist.
Checklist to develop talent in-house
1. Take responsibility for developing your team
Focus on the people you have and your scope of work. Make developing your employees a core part of the job. Look for ways to support employees in their efforts to learn and grow. And hold employees accountable for their development.
2. Take responsibility for developing talent in the organization:
Take ownership of your organization’s talent management processes. Look beyond your team or function to expand your talent pool. Develop successors who can take on your job and nurture their skills. Invest your time and energy in developing future leaders for the organization.
3. Use on-the-job experiences to develop team:
Identify and provide roles, tasks, or assignments that can add depth to an employee’s experience. Ensure that your employees’ development plans go beyond formal programs to include on-the-job experiences. That is, give them assignments or experiences that will help them develop specific competencies. You could also create new roles or job responsibilities to help them expand their skillset. It’s also a good idea to reserve certain types of assignments specifically for employee development. Most importantly, take an extra step and support employees who seek growth experiences outside the workplace (maybe community service, taking up a course, etc.)
4. Support learning from experience:
As a leader, you are bound to help employees learn what they need to do to be effective at work. Help them set learning goals at every stage of their professional journey. And assess the progress they are making towards these goals. Always, make it a point to offer them constructive feedback and have conversations about what they are learning from their experiences. And ask them if they need your help or management’s help with anything. Be there for them. You could also go a step further and connect them with people in the organization whom you think will help them grow. For instance, you could assign a mentor, a buddy, or a coach every month or for a specific project.
In short, learning from experience is the best way in which people can develop new skills, behaviors, and perspectives they need to be effective at work. Yes, your employees need to own their learning and career path. But your ability to nurture talent can have a great impact on them — as well as on your own reputation and effectiveness as a leader.
Talent management is not a one-time activity but a long-term strategy that every leader needs to implement throughout various organizational levels. It’s important you look for talent internally and ensure your employees know that you’re doing it. If they feel you are not looking out for their future, it’s only a matter of time they leave your organization. Thus, developing talent in-house is extremely important. Doing so will create a career-focused culture in your company. Thereby, funneling your best and brightest to more important positions in your organization.